YANG vs ARB

Comparison between DIREXION DAILY FTSE CHINA BEAR 3X SHARES (YANG, ETF) and ALTSHARES MERGER ARBITRAGE ETF (ARB, ETF).

5-Year PerformanceARB has outperformed YANG, delivering a return of +4.0% compared to -35.9%

YANG vs ARB - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	YANG(ETF)	ARB(ETF)
Net Assets	$104M	$105M
Expense Ratio	N/A	0.76%
Max Drawdown	99.98%	9.39%
Sharpe Ratio	0.58	-0.04
5Y Beta	-2.13	0.05
P/E Ratio	N/A	161.13
Forward P/E	N/A	17.35
5Y Dividends CAGR	N/A	-9.74%
Debt to Equity	N/A	99.79%

Net Assets

YANG

$104M

Winner

ARB

$105M

Expense Ratio

YANG

N/A

ARB

0.76%

Max Drawdown

YANG

99.98%

Winner

ARB

9.39%

Sharpe Ratio

Winner

YANG

0.58

ARB

-0.04

5Y Beta

Winner

YANG

-2.13

ARB

0.05

P/E Ratio

YANG

N/A

ARB

161.13

Forward P/E

YANG

N/A

ARB

17.35

5Y Dividends CAGR

YANG

N/A

ARB

-9.74%

Debt to Equity

YANG

N/A

ARB

99.79%

YANG vs ARB - Holdings Comparison

YANG and ARB have 0 common holdings. Overlap is 0.00%

YANG's top 25 holdings weight is 31.04%. ARB's top 25 holdings weight is 77.09%.

Rank	YANG	ARB
#1	GOLDMAN SACHS FS TREASURY INTMS INSTL (FTIXX) - 31.04%	MORGAN STANLEY PRIME BROKER US (n/a) - 15.65%
#2	N/A	n/a (WBD) - 3.60%
#3	N/A	n/a (n/a) - 3.41%
#4	N/A	SSC GOVERNMENT MM GVMXX (n/a) - 3.41%
#5	N/A	ELECTRONIC ARTS INC (EA) - 2.81%
#6	N/A	n/a (n/a) - 2.80%
#7	N/A	THE AES CORP (AES) - 2.79%
#8	N/A	MASIMO CORP (n/a) - 2.79%
#9	N/A	CHART INDUSTRIES INC (GTLS) - 2.73%
#10	N/A	PENUMBRA INC (PEN) - 2.72%
#11	N/A	WEBSTER FINANCIAL CORP (WBS) - 2.71%
#12	N/A	NORFOLK SOUTHERN CORP (NSC) - 2.67%
#13	N/A	GLOBALSTAR INC (GSAT) - 2.50%
#14	N/A	NATIONAL STORAGE AFFILIATES TRUST (NSA) - 2.42%
#15	N/A	KALVISTA PHARMACEUTICALS INC (n/a) - 2.36%
#16	N/A	SILICON LABORATORIES INC (SLAB) - 2.36%
#17	N/A	UNIFIRST CORP (UNF) - 2.35%
#18	N/A	JANUS HENDERSON GROUP PLC (n/a) - 2.35%
#19	N/A	DIGITALBRIDGE GROUP INC CLASS A (DBRG) - 2.33%
#20	N/A	ORGANON & CO ORDINARY SHARES (OGN) - 2.30%
#21	N/A	BEAZLEY PLC (n/a) - 2.29%
#22	N/A	n/a (n/a) - 2.09%
#23	N/A	QORVO INC (QRVO) - 1.94%
#24	N/A	TOPBUILD CORP (n/a) - 1.86%
#25	N/A	CATALYST PHARMACEUTICALS INC (CPRX) - 1.85%
Total Holdings	1	96

YANG vs ARB - Historical Returns

Returns include dividend reinvestment.

Period	YANG	ARB
1 month	-18.54%	+0.11%
3 months	+15.27%	+0.47%
6 months	+37.74%	+1.99%
1 year	+23.36%	+3.79%
5 years(CAGR)	-35.90%	+3.99%
10 years(CAGR)	-37.04%	N/A
Max(CAGR)	-37.84%	+4.12%

YANG

-18.54%

Winner

ARB

+0.11%

Winner

YANG

+15.27%

ARB

+0.47%

Winner

YANG

+37.74%

ARB

+1.99%

Winner

YANG

+23.36%

ARB

+3.79%

5Y(CAGR)

YANG

-35.90%

Winner

ARB

+3.99%

10Y(CAGR)

YANG

-37.04%

ARB

N/A

Max(CAGR)

YANG

-37.84%

Winner

ARB

+4.12%

YANG vs ARB - Annual Returns (2009 - 2026)

Returns include dividend reinvestment.

Year	YANG	ARB
2026	+40.84%	+2.30%
2025	-64.63%	+5.80%
2024	-73.82%	+4.07%
2023	+24.81%	+3.94%
2022	-41.91%	+2.81%
2021	+24.59%	+3.29%
2020	-54.91%	+3.79%
2019	-42.34%	N/A
2018	+26.11%	N/A
2017	-63.44%	N/A
2016	-37.86%	N/A
2015	-12.52%	N/A
2014	-50.37%	N/A
2013	-56.54%	N/A
2012	-38.64%	N/A
2011	+9.01%	N/A
2010	-52.31%	N/A
2009	+6.68%	N/A

YANG vs ARB Drawdown Comparison

The maximum drawdown for YANG was -99.98%, occurring on Oct 2, 2025. This drawdown has not yet recovered.

The maximum drawdown for ARB was -5.59%, occurring on May 22, 2023. Recovery took 215 trading sessions.

The current YANG drawdown is -99.97%. The current ARB drawdown is -0.71%.

Rank	YANG	ARB
#1	-99.98% Feb 8, 2010 - Oct 2, 2025	-5.59% Nov 1, 2022 - Sep 12, 2023
#2	-24.96% Dec 22, 2009 - Jan 22, 2010	-5.11% Dec 17, 2021 - Aug 9, 2022
#3	-13.84% Jan 29, 2010 - Feb 8, 2010	-3.61% May 8, 2020 - Jul 15, 2020
#4	-6.23% Dec 8, 2009 - Dec 17, 2009	-3.16% Jan 8, 2021 - Apr 15, 2021
#5	-3.29% Jan 22, 2010 - Jan 26, 2010	-2.13% Apr 3, 2024 - Jul 16, 2024
#6	N/A	-1.99% Nov 7, 2024 - Jan 15, 2025
#7	N/A	-1.89% Jun 16, 2021 - Oct 7, 2021
#8	N/A	-1.67% Aug 15, 2022 - Oct 25, 2022
#9	N/A	-1.54% Jun 5, 2026 - Jul 9, 2026
#10	N/A	-1.27% Mar 31, 2025 - May 16, 2025
#11	N/A	-0.95% Dec 27, 2023 - Feb 26, 2024
#12	N/A	-0.92% Nov 3, 2021 - Dec 17, 2021
#13	N/A	-0.92% Aug 19, 2020 - Oct 9, 2020
#14	N/A	-0.87% Jul 9, 2026 - Jul 20, 2026
#15	N/A	-0.69% May 12, 2026 - Jun 5, 2026