YXI vs. NFXS

Last updated Jun 4, 2026

YXI (ProShares Short FTSE China 50) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both Inverse Equities funds. YXI is passively managed, while NFXS is actively managed. Over the past year, YXI returned 0.05% vs 43.26% for NFXS. At a 0.09 correlation, their price movements are largely independent. YXI charges 0.95%/yr vs 1.03%/yr for NFXS.

Performance

YXI vs. NFXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short FTSE China 50 (YXI) and Direxion Daily NFLX Bear 1X Shares (NFXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YXI achieves a 8.21% return, which is significantly lower than NFXS's 11.23% return.

YXI

• 1D: 1.95%
• 1M: 2.80%
• YTD: 8.21%
• 6M: 9.88%
• 1Y: 0.05%
• 3Y*: -11.68%
• 5Y*: -2.65%
• 10Y*: -8.25%

NFXS

• 1D: 2.15%
• 1M: 11.52%
• YTD: 11.23%
• 6M: 23.05%
• 1Y: 43.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YXI vs. NFXS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YXI ProShares Short FTSE China 50	8.21%	-22.87%	9.25%
NFXS Direxion Daily NFLX Bear 1X Shares	11.23%	-8.56%	-21.19%

Correlation

The correlation between YXI and NFXS is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (All Time) Calculated using the full available price history since Oct 4, 2024	0.09

Return for Risk

YXI vs. NFXS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

YXI

YXI Risk / Return Rank: 9
YXI Sharpe Ratio Rank: 9
YXI Sortino Ratio Rank: 9
YXI Omega Ratio Rank: 9
YXI Calmar Ratio Rank: 9
YXI Martin Ratio Rank: 9

NFXS

NFXS Risk / Return Rank: 35
NFXS Sharpe Ratio Rank: 37
NFXS Sortino Ratio Rank: 37
NFXS Omega Ratio Rank: 42
NFXS Calmar Ratio Rank: 29
NFXS Martin Ratio Rank: 28

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

YXI vs. NFXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short FTSE China 50 (YXI) and Direxion Daily NFLX Bear 1X Shares (NFXS). 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.

	YXI	NFXS	Difference
Sharpe ratio: Return per unit of total volatility	0.00	1.31	-1.31
Sortino ratio: Return per unit of downside risk	0.14	1.90	-1.75
Omega ratio: Gain probability vs. loss probability	1.02	1.27	-0.25
Calmar ratio: Return relative to maximum drawdown	0.00	1.39	-1.39
Martin ratio: Return relative to average drawdown	0.01	3.81	-3.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

YXI vs. NFXS - Sharpe Ratio Comparison

The current YXI Sharpe Ratio is 0.00, which is lower than the NFXS Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of YXI and NFXS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	YXI	NFXS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.00	1.31	-1.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.08	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.30	-0.36	+0.06

Drawdowns

YXI vs. NFXS - Drawdown Comparison

The maximum YXI drawdown since its inception was -81.15%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for YXI and NFXS.

Drawdown Indicators

	YXI	NFXS	Difference
Max Drawdown Largest peak-to-trough decline	-81.15%	-50.37%	-30.78%
Max Drawdown (1Y) Largest decline over 1 year	-14.21%	-31.31%	+17.10%
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	-64.92%	—	—
Current Drawdown Current decline from peak	-77.90%	-21.98%	-55.92%
Average Drawdown Average peak-to-trough decline	-54.31%	-32.39%	-21.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.18%	11.39%	-3.21%

Volatility

YXI vs. NFXS - Volatility Comparison

ProShares Short FTSE China 50 (YXI) and Direxion Daily NFLX Bear 1X Shares (NFXS) have volatilities of 7.21% and 7.23%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YXI	NFXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.21%	7.23%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	14.86%	26.37%	-11.51%
Volatility (1Y) Calculated over the trailing 1-year period	19.97%	33.13%	-13.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.40%	34.68%	-3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.42%	34.68%	-7.26%

YXI vs. NFXS - Expense Ratio Comparison

YXI has a 0.95% expense ratio, which is lower than NFXS's 1.03% expense ratio.

Dividends

YXI vs. NFXS - Dividend Comparison

YXI's dividend yield for the trailing twelve months is around 2.84%, more than NFXS's 2.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
NFXS Direxion Daily NFLX Bear 1X Shares	2.81%	3.53%	0.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
YXI ProShares Short FTSE China 50	2.84%	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 NFXS in my portfolio?

YXI and NFXS have a correlation of 0.06, 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 NFXS?

NFXS has higher volatility (7.23%) compared to YXI (7.21%). In terms of maximum drawdown, YXI dropped -81.15% vs NFXS's -50.37%.

Which ETF is better, YXI or NFXS?

On 1-year performance, NFXS leads with 43.26% vs 0.05% for YXI. On fees, YXI is cheaper at 0.95% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YXI or NFXS?

Over the 1-year period, NFXS has performed better with a 43.26% return vs 0.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YXI or NFXS?

YXI is cheaper with a 0.95% expense ratio, compared with 1.03% for NFXS.

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

YXI has the higher dividend yield at 2.84%, compared with 2.81% for NFXS.

What is the main difference between YXI and NFXS?

They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for YXI and 1.03% for NFXS.

Which has better risk-adjusted returns?

NFXS currently has the higher Sharpe Ratio (1.31 vs 0.00), 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.