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Launched · SEC filings

Direxion Daily FTSE China Bear 3X ETF

YANGNYSE ArcaDirexionCThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$34.39−0.28 (−0.81%)

At close: Nov 2, 2026, 4:00 PM ET

C45/ 100

Rank 8 of 14 in 3x Leveraged Inverse

C45/100Rank 8 of 14in3x Leveraged Inverse
Intraday session: down, 79 prints from 34.67 to 34.39. Range 33.76 to 34.65. Use the arrow keys to read each point.33.8034.0034.2010 AM12 PM2 PM4 PM
Expense ratio
1.03%
Fund size
$83M
1Y total return
+53.4%
Yield · Last 12 months
2.83%
Holdings
4
Avg volume · 30D
676K sh
52W range
low $19.94high $42.22
Launched
Filings
SEC EDGAR

The ETF.net YANG Grade

Based on 4 of 6 pillars

C

Score 45 out of 100

Category
3x Leveraged Inverse⁠
Rank
8 of 14
Six-pillar profile for YANG. Scores out of 100: Cost 42, Risk 70, Mission not scored, Tradability 27, Holdings not scored, Durability 53. Strongest: Risk (70). Weakest: Tradability (27). Based on 4 of 6 pillars.

Score 45 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C42 out of 100
    Rank 8 of 14

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A70 out of 100
    Rank 2 of 14

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D27 out of 100
    Rank 10 of 14

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C53 out of 100
    Rank 6 of 14

Our read on YANG

ETF.net Research

In short

CThe blunt instrument for a rough day in Chinese equities. YANG aims for -300% of the FTSE China 50's daily move, resets every night, and has been running that playbook since 2009. Built for a day, not a decade.

Stated mandate

The fund seeks daily investment results, before fees and expenses, equal to -300% of the FTSE China 50 Index. Its objective applies to a single day and is not intended to provide negative three-times cumulative performance over longer periods.

Why people hold it

  • Costs 1.03% a year, below the typical leveraged bear fund and well under the other US funds shorting this same index (FXP at 1.79%, YXI at 2.65%).
  • Aims for -300% of the index's daily move, so expressing a bearish view ties up a fraction of the capital an unleveraged short position would.
  • Short exposure in a plain brokerage account: no margin agreement, no locating shares to borrow, no losses beyond the amount invested.direxion.com
  • Launched in December 2009 and actively traded since, making it one of the more established ways to short large Hong Kong-listed Chinese names.direxion.com

Worth knowing

  • The -3x objective applies to one day only. Hold longer and the nightly reset makes results path-dependent, especially in choppy markets.
  • Leverage cuts both ways: an up day in the FTSE China 50 hits roughly three times as hard here.
  • That 1.03% fee is cheap for this corner of the market but many times a plain index fund's, and it accrues daily whether the trade works or not.

YANG Performance

Launched Dec 3, 2009

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

YANG$15,337
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. YANG $15,337. SPY $11,199. Use the arrow keys to read each point.$10,000$12,500$15,000$17,500Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for YANG. Periods over one year show the average yearly return.
PeriodYANG
Year to date+41.0%
1 month+7.9%
3 months+33.8%
1 year+53.4%
3 yearsper year−45.4%
5 yearsper year−34.6%
10 yearsper year−35.1%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for YANG
YearReturn barYANG
2026 YTD+41.0%
2025−62.8%
2024−71.3%
2023+12.1%

YANG in the news

YANG Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
2.83%Last 12 months
Payout per share
$0.98Last 12 months
Last payment
$0.27 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2018–2026

One bar per payment. 23 payments from 2018 to 2026 YTD. Mar 20, 2018 $1.05; Sep 25, 2018 $2.28; Dec 27, 2018 $4.19; Mar 19, 2019 $2.91; Jun 25, 2019 $3.80; Sep 24, 2019 $3.39; Dec 23, 2019 $1.91; Mar 24, 2020 $0.01; Mar 21, 2023 $3.17; Jun 21, 2023 $1.59; Sep 19, 2023 $1.80; Dec 21, 2023 $2.81; Mar 19, 2024 $1.91; Jun 25, 2024 $2.32; Sep 24, 2024 $1.63; Dec 23, 2024 $0.74; Mar 25, 2025 $0.26; Jun 24, 2025 $0.27; Sep 23, 2025 $0.21; Dec 23, 2025 $0.29; Mar 24, 2026 $0.26; Jun 23, 2026 $0.16; Sep 22, 2026 $0.27. Use the arrow keys to read each point.201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Sep 29, 2026$0.27
Jun 23, 2026Jun 30, 2026$0.16
Mar 24, 2026Mar 31, 2026$0.26
Dec 23, 2025Dec 31, 2025$0.29
Sep 23, 2025Sep 30, 2025$0.21
Jun 24, 2025Jul 1, 2025$0.27
Mar 25, 2025Apr 1, 2025$0.26
Dec 23, 2024Dec 31, 2024$0.74
Sep 24, 2024Oct 1, 2024$1.63
Jun 25, 2024Jul 2, 2024$2.32
Mar 19, 2024Mar 26, 2024$1.91
Dec 21, 2023Dec 29, 2023$2.81

See all 23 payments⁠

$10,000 in YANG 10 years ago paid $114 in dividends.⁠

YANG Risk

Risk pillarA70 out of 100Rank 2 of 14 in 3x Leveraged Inverse

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
58.3%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.77
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−97.4%
Trough Oct 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−0.96
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

YANG Cost

Compare YANG and SQQQ

Overpaying vs SQQQ, cheapest in 3x Leveraged Inverse

$1,469

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • YANG 1.03%

    $19,173

  • SQQQ 0.94% Cheapest

    $17,704

$10,000
30 years

Cost over time

  • YANG 1.03%
  • SQQQ 0.94%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530YANG $19,173SQQQ $17,704

Year by year

YearYANGSQQQOverpaying
10$1,814$1,661$153
20$6,807$6,260$547
30$19,173$17,704$1,469

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