# YANG (Direxion Daily FTSE China Bear 3X ETF)

Direxion · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: YANG returned +3.3% where its own daily promise gave −0.4%, 3.6 points over.

## Key facts

- YANG, what FXI did: −1.5%, as of Sep 11, 2026.
- YANG, what −3 times a day gives: −0.4%, as of Sep 11, 2026.
- YANG, what the fund returned: +3.3%, as of Sep 11, 2026.
- YANG, the fund itself added: +3.6 pts, as of Sep 11, 2026.
- YANG, net assets: $110m (source, as filed for Apr 30, 2026).
- YANG, expense ratio: 1.03% (485BPOS XBRL, Feb 26, 2026).

## YANG over each window to Sep 11, 2026

| Window | Fund | FXI | -3x the move | Difference | FXI moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +6.9% | −2.1% | +6.3% | +0.6 pts | 15% |
| 3 months | +3.3% | −1.5% | +4.6% | −1.3 pts | 18% |
| 6 months | +8.9% | −4.1% | +12.3% | −3.4 pts | 20% |
| 1 year | +43.8% | −13.8% | +41.3% | +2.5 pts | 20% |
| 3 years | −82.8% | +36.3% | −109.0% | +26.2 pts | 27% |
| Since launch | −100.0% | +18.5% | −55.6% | −44.4 pts | 27% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -3 times the daily move of FXI, reset daily | ETFIQ |
| Multiple a holder actually got over the window | FXI moved −1.5% over this window, too little to read a multiple from | ETFIQ |
| Underlying | FXI | ETFIQ |
| Segment | sector or country, country | ETFIQ |
| Net assets | $110m | source, as filed for Apr 30, 2026 |
| Expense ratio | 1.03% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 18% annualized | ETFIQ |

## Questions

### Did YANG return -3 times FXI?

Over the window to Sep 11, 2026, FXI moved −1.5% and YANG returned +3.3%. 3 times that move is +4.6%, so the fund came out 1.3 points short of it.

### Why does YANG not return -3 times over a year?

Because it resets daily. YANG aims at -3 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -3 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, YANG, data as of Sep 11, 2026. https://etfiq.com/funds/YANG
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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