YXI vs. NBCE

Last updated Aug 5, 2026

YXI (ProShares Short FTSE China 50) and NBCE (Neuberger Berman China Equity ETF) are both China Equities funds. YXI is passively managed, while NBCE is actively managed. Over the past year, YXI returned 4.09% vs 42.60% for NBCE. Their -0.62 correlation means they have often moved in opposite directions in the past. YXI charges 0.95%/yr vs 0.74%/yr for NBCE.

Performance

YXI vs. NBCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short FTSE China 50 (YXI) and Neuberger Berman China Equity ETF (NBCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YXI achieves a 5.63% return, which is significantly lower than NBCE's 16.81% return.

YXI

• 1D: 0.58%
• 1M: -12.38%
• 6M: 6.78%
• YTD: 5.63%
• 1Y: 4.09%
• 3Y*: -10.31%
• 5Y*: -5.27%
• 10Y*: -7.71%
• ALL TIME*: -8.22%

NBCE

• 1D: 2.18%
• 1M: -8.20%
• 6M: 10.75%
• YTD: 16.81%
• 1Y: 42.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.36%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NBCE Neuberger Berman China Equity ETF	$48.33K	$57.98K	$40.99K
YXI ProShares Short FTSE China 50	$23.14K	$29.95K	$34.52K

YXI vs. NBCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
YXI ProShares Short FTSE China 50	5.63%	-22.87%	-25.36%	7.72%
NBCE Neuberger Berman China Equity ETF	16.81%	39.08%	3.35%	-2.22%

Correlation

The correlation between YXI and NBCE is -0.42, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.42
Correlation (All Time) Calculated using the full available price history since Oct 16, 2023	-0.62

Over the past year, the inverse relationship between YXI and NBCE has weakened: their correlation has moved from -0.62 to -0.42, meaning they move in opposite directions less often than they have historically.

Return for Risk

YXI vs. NBCE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

YXI

YXI Risk / Return Rank: 14
YXI Sharpe Ratio Rank: 14
YXI Sortino Ratio Rank: 14
YXI Omega Ratio Rank: 14
YXI Calmar Ratio Rank: 15
YXI Martin Ratio Rank: 15

NBCE

NBCE Risk / Return Rank: 65
NBCE Sharpe Ratio Rank: 69
NBCE Sortino Ratio Rank: 64
NBCE Omega Ratio Rank: 68
NBCE Calmar Ratio Rank: 61
NBCE Martin Ratio Rank: 64

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

YXI vs. NBCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short FTSE China 50 (YXI) and Neuberger Berman China Equity ETF (NBCE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	YXI	NBCE	Difference
Sharpe ratio: Return per unit of total volatility	0.20	1.81	-1.62
Sortino ratio: Return per unit of downside risk	0.42	2.42	-2.00
Omega ratio: Gain probability vs. loss probability	1.05	1.32	-0.27
Calmar ratio: Return relative to maximum drawdown	0.30	2.43	-2.13
Martin ratio: Return relative to average drawdown	0.77	8.77	-8.00

YXI vs. NBCE - Sharpe Ratio Comparison

The current YXI Sharpe Ratio is 0.20, which is lower than the NBCE Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of YXI and NBCE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

YXI vs. NBCE - Drawdown Comparison

The maximum YXI drawdown since its inception was -81.15%, which is greater than NBCE's maximum drawdown of -28.42%. Use the drawdown chart below to compare losses from any high point for YXI and NBCE.

Drawdown Indicators

	YXI	NBCE	Difference
Max Drawdown Largest peak-to-trough decline	-81.15%	-28.42%	-52.73%
Max Drawdown (1Y) Largest decline over 1 year	-13.55%	-17.60%	+4.05%
Max Drawdown (3Y) Largest decline over 3 years	-53.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-57.65%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-61.63%	—	—
Current Drawdown Current decline from peak	-78.43%	-14.32%	-64.11%
Average Drawdown Average peak-to-trough decline	-54.52%	-9.05%	-45.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.32%	4.87%	+0.45%

Volatility

YXI vs. NBCE - Volatility Comparison

The current volatility for ProShares Short FTSE China 50 (YXI) is 6.80%, while Neuberger Berman China Equity ETF (NBCE) has a volatility of 10.76%. This indicates that YXI experiences smaller price fluctuations and is considered to be less risky than NBCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YXI	NBCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.80%	10.76%	-3.96%
Volatility (6M) Calculated over the trailing 6-month period	15.85%	19.58%	-3.73%
Volatility (1Y) Calculated over the trailing 1-year period	21.09%	23.66%	-2.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.28%	25.03%	+6.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.48%	25.03%	+2.45%

YXI vs. NBCE - Expense Ratio Comparison

YXI has a 0.95% expense ratio, which is higher than NBCE's 0.74% expense ratio.

Dividends

YXI vs. NBCE - Dividend Comparison

YXI's dividend yield for the trailing twelve months is around 2.69%, more than NBCE's 1.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
NBCE Neuberger Berman China Equity ETF	1.13%	1.32%	1.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
YXI ProShares Short FTSE China 50	2.69%	3.60%	4.35%	2.66%	0.27%	0.00%	0.08%	1.01%	0.25%

Frequently Asked Questions

Can I hold both YXI and NBCE in my portfolio?

YXI and NBCE have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YXI or NBCE?

NBCE has higher volatility (10.76%) compared to YXI (6.80%). In terms of maximum drawdown, YXI dropped -81.15% vs NBCE's -28.42%.

Which ETF is better, YXI or NBCE?

On 1-year performance, NBCE leads with 42.60% vs 4.09% for YXI. On fees, NBCE is cheaper at 0.74% per year. On volatility, YXI has been the lower-risk option at 6.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YXI or NBCE?

Over the 1-year period, NBCE has performed better with a 42.60% return vs 4.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YXI or NBCE?

NBCE is cheaper with a 0.74% expense ratio, compared with 0.95% for YXI.

Which ETF pays a higher dividend yield, YXI or NBCE?

YXI has the higher dividend yield at 2.69%, compared with 1.13% for NBCE.

What is the main difference between YXI and NBCE?

They also come from different issuers: ProShares and Neuberger Berman. Their fees differ too: 0.95% for YXI and 0.74% for NBCE.

Which has better risk-adjusted returns?

NBCE currently has the higher Sharpe Ratio (1.81 vs 0.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.