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FXP vs SVXY

ProShares UltraShort FTSE China 50

FXPCNYSE Arca

ProShares Short VIX Short-Term Futures ETF

SVXYBCboe

Overlap

100%by weight

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

FXP0.95%SVXY0.95%

Avg volume · 30D

SVXY 395.3×the volume

FXP3.77KSVXY1.49M

10Y return · a year

SVXY +18.8pt

FXP−20.5%SVXY−1.7%

FXP vs SVXY Performance

Oct 29, 2021 – Oct 30, 2026

−63.6%FXP+96.6%SVXY

Oct 29, 2021 to Oct 30, 2026. FXP −63.6%. SVXY +96.6%. Use the arrow keys to read each point.0%50%Oct 2021Apr 2024Oct 2026
Expense ratio
FXP 0.95%
SVXY 0.95%
Fund size
FXP $6M
SVXY $201M
1Y total return
FXP +35.5%, better
SVXY +21.9%
Yield (12M)
FXP 2.19%
SVXY No data
Holdings
FXP 1
SVXY 1
Avg volume (30D)
FXP 3.77K sh
SVXY 1.49M sh, better
NAV per share
FXP $23.15
SVXY $60.55
52W range

ETF.net Grade

FXP: Cost 50, Risk 56, Mission not scored, Tradability 16, Holdings not scored, Durability 49. SVXY: Cost 50, Risk 75, Mission not scored, Tradability 84, Holdings not scored, Durability 76.
Pillar letters and Scores for FXP, SVXY, with each pillar’s weight
PillarFXPSVXY
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightB56A75Higher
Tradability15% weightF16A84Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC49A76Higher

Rank among Leveraged Inverse (2x & Other) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FXP and SVXY are both graded against the same 53 Leveraged Inverse (2x & Other) funds, so their Grades compare head to head.

Leveraged Inverse (2x & Other)⁠

Category · 53 funds
See all 53 ›

SVXY ranks 1st and FXP 28th of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  3. Rank 3BPSQProShares Short QQQScore 64
  4. Rank 28CDUSTDirexion Daily Gold Miners Index Bear 2X ETFScore 43
  5. Rank 28CFXPProShares UltraShort FTSE China 50Score 43
  6. Rank 28CSSGProShares UltraShort SemiconductorsScore 43

Our read on each fund

ETF.net Research

FXPCProShares UltraShort FTSE China 50

SVXYBProShares Short VIX Short-Term Futures ETF

In short

FXP The only US ETF built to move two times the opposite of the FTSE China 50, the 50 largest Chinese companies listed in Hong Kong. Live since 2007, and it resets daily: a trading instrument, not a set-and-forget China short.

SVXY Short volatility, half dose. SVXY targets one-half the inverse of a VIX short-term futures index each day, a deliberately de-tuned take on the short-vol trade, and it has run that mandate since 2011.

Stated mandate

FXP FXP seeks daily results, before fees and expenses, equal to two times the inverse of the FTSE China 50 Index’s daily performance. It is intended to gain when that index declines and lose when it rises.

SVXY SVXY seeks daily results equal to one-half the inverse of the S&P 500 VIX Short-Term Futures Index. Its objective is measured daily, so returns over longer periods can differ from the stated daily target.

Why people hold it

  • FXP One ticker, in an ordinary brokerage account, targeting -2x the FTSE China 50's daily move. ProShares calls it the only -2x ETF built on that index.proshares.com
  • Fee is 0.95% net of a waiver through September 30, 2027, near the category norm for leveraged and inverse funds and far below the 2.36% gross.
  • Listed in November 2007, making it one of the longest-running inverse China funds around, with mechanics investors have had years to get to know.proshares.com
  • Want half the gearing? Sibling YXI shorts the same index at -1x, also 0.95% net of a waiver through September 30, 2027.proshares.com
  • SVXY The half-strength design is the whole idea: a -0.5x daily target rather than full inverse, so a jump in VIX futures lands with half the force of a one-for-one short.proshares.com
  • 0.95% a year sits below the typical leveraged and inverse fund, and among that crowd this is one of the stronger implementations in its peer group.
  • Launched in 2011 and actively traded, so it has a long operating history and a working market for getting in and out.

Worth knowing

  • FXP Daily reset means multi-day results can drift far from -2x the index move, and choppy markets grind value down even if China ends flat.proshares.com
  • It trades lightly next to the big broad-market inverse funds, so spreads and order size deserve more attention.
  • Exposure is Hong Kong listed large caps, not mainland A-shares or smaller names, so it leans against one slice of China, not the whole market.proshares.com
  • SVXY The objective resets daily. Hold longer and compounding takes over, so results over weeks or months can look nothing like half the inverse of the index.proshares.com
  • It is a commodity pool holding VIX futures, not a basket of stocks. Reporting and tax treatment follow different rules than a standard equity ETF.proshares.com
  • Pure price vehicle with no distribution stream, and volatility spikes arrive fast, which is exactly what a short-vol position is on the wrong side of.

Full FXP profile⁠

Full SVXY profile⁠

FXP vs SVXY Holdings

How FXP and SVXY differ

Overlap by weight

100%

Shared holdings make up 100% of FXP and 100% of SVXY.

Level by level

  • Asset classEquity, Alternatives0.0%
  • Holdings0 in both100%

Sector

No Sector split for FXP and SVXY.

Country, concentration and asset class

Country by domicile

No country split for FXP and SVXY.

Concentration

Weight in the 10 largest Holdings

  • FXP100.0%
  • SVXY100.0%

Securities held

  • FXP0
  • SVXY0

Asset class

FXP
Equity
SVXY
Alternatives

Holdings

  • Only in FXP0
  • In both0
  • Only in SVXY0

Only in FXP

0 securities, 0.0% of FXP by weight

Only in SVXY

0 securities, 0.0% of SVXY by weight

Weight gaps

FXP and SVXY share no securities.

All 11 FXP holdings⁠All 3 SVXY holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FXP vs SVXY Cost

Same expense ratio

$17,869

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

  • FXP 0.95%

    $17,869

  • SVXY 0.95%

    $17,869

$10,000
30 years

Cost over time

  • FXP 0.95%
  • SVXY 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530FXP $17,869SVXY $17,869

Year by year

YearFXPSVXY
10$1,678$1,678
20$6,322$6,322
30$17,869$17,869

Expense ratio

  • 0.95%FXP
  • 0.95%SVXY
  • Middle half of Leveraged Inverse (2x & Other) funds
  • Median 0.95%

FXP 6th cheapest of 53 funds

SVXY 6th cheapest of 53 funds

FXP vs SVXY Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FXP 2.19%
SVXY No data
Payout (12M)
FXP $0.51
SVXY None
Last payment
FXP $0.12
SVXY No data
Ex-dividend
FXP Sep 23, 2026
SVXY No data
Paid on
FXP Sep 29, 2026
SVXY No data
Frequency
FXP Quarterly
SVXY No data

Distribution history

Per share, 2024 to 2026, same scale for both

FXPQuarterly · 10 paymentsAll FXP payments⁠
One bar per payment. 10 payments from 2024 to 2026 YTD. Mar 20, 2024 $0.25; Jun 26, 2024 $0.28; Dec 23, 2024 $0.08; Mar 26, 2025 $1.00; Jun 25, 2025 $0.31; Sep 24, 2025 $0.26; Dec 24, 2025 $0.18; Mar 25, 2026 $0.10; Jun 24, 2026 $0.11; Sep 23, 2026 $0.12. Use the arrow keys to read each point.$0$12026YTD
SVXYAll SVXY payments⁠

No distribution history available.

FXP vs SVXY Risk

Fall from peak · 5 years

  • FXP
  • SVXY
Oct 29, 2021 to Oct 30, 2026. Worst fall: FXP −88.3% · Oct 2025. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
FXP 40.0%SVXY 26.5%, better
Return per unit of riskSharpe ratio, 3 years
FXP −0.77SVXY 0.42, better
Worst fallMax drawdown, 5 years
FXP −88.3%SVXY −46.4%, better
Market sensitivityBeta, 5 years
FXP −0.61SVXY 1.32

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