XPP vs YXI: which held to its multiple?
Over three months against its own daily promise, XPP finished 1.5 points short and YXI 1.3 points over. ProShares Ultra FTSE China 50 and ProShares Short FTSE China 50.
XPP returned +10.9% while 2 times FXI's move would have been +12.8%
YXI returned −5.4% while −1 times FXI's move would have been −6.4%
XPP among the 470 leveraged ETFs, long, over three months
YXI among the 125 inverse ETFs over three months
A percentile among the 470 leveraged ETFs, long, over three months. YXI is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | XPP | YXI | XPP | YXI | XPP | YXI |
| 1 month | −8.2% | +4.4% | −7.6% | +3.8% | −0.5 pts | +0.5 pts |
| 3 months | +10.9% | −5.4% | +12.8% | −6.4% | −1.9 pts | +1.0 pts |
| 6 months | −11.2% | +5.1% | −7.2% | +3.6% | −4.0 pts | +1.4 pts |
| 1 year | −35.7% | +21.0% | −31.5% | +15.8% | −4.1 pts | +5.2 pts |
| 3 years | +24.4% | −29.8% | +76.7% | −38.4% | −52.3 pts | +8.6 pts |
| Since launch XPP Jan 2010 · YXI Mar 2010 | −69.8% | −73.8% | +33.8% | −21.8% | −103.6 pts | −52.1 pts |
XPP and YXI over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
XPP and YXI on the same fields, as of Sep 30, 2026. Source: ETFIQ.
XPP in plain words
Three months to Sep 30, 2026: XPP returned +10.9% where its own daily promise gave +12.4%, 1.5 points short. Read the multiple against the whole window instead and 2 times FXI's 6.4% implies +12.8%, which makes XPP look 1.9 points short. 0.4 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. XPP aims to return +2 times FXI's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. FXI moved at 17% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
YXI in plain words
Three months to Sep 30, 2026: YXI returned −5.4% where its own daily promise gave −6.7%, 1.3 points over. Read the multiple against the whole window instead and −1 times FXI's 6.4% implies −6.4%, which makes YXI look 1.0 points over. 0.3 of that is daily compounding, which happens to any −1 times fund over the same path, and the rest is the fund. YXI aims to return -1 times FXI's move each day, then resets. Over longer, the daily results compound, so the total is not -1 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, XPP or YXI?
- Over the window to Sep 30, 2026, XPP finished 1.9 points from what its multiple implies and YXI finished 1.0 points from its own, so YXI came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are XPP and YXI levered on the same thing?
- Yes. Both are levered on iShares China Large-Cap ETF, XPP at +2 times and YXI at -1 times the daily move.
- Which one decays faster, XPP or YXI?
- Decay follows how much the underlying moves about. Over this window XPP’s moved at 17% annualized and YXI’s at 17%, so XPP has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold XPP or YXI for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, XPP against YXI, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/xpp-vs-yxi
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, XPP against YXI, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/xpp-vs-yxi Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, XPP against YXI, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/xpp-vs-yxi
- APA
- ETFIQ. (Sep 30, 2026). XPP against YXI. Retrieved from https://etfiq.com/compare/leverage/xpp-vs-yxi
- Markdown
- [XPP against YXI (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/xpp-vs-yxi)