YANG Stock: Direxion Daily FTSE China Bear 3X ETF Profile & Analysis (2026)
A high-risk tactical tool designed to provide 300% the inverse daily performance of the FTSE China 50 Index — Updated May 2026 with current AUM, expense ratio, holdings, and performance data.
YANG, officially the Direxion Daily FTSE China Bear 3X ETF, is a leveraged exchange-traded fund designed for sophisticated traders seeking to profit from short-term declines in the Chinese equity market. Managed by Direxion, the fund aims to deliver 300% of the inverse (opposite) daily return of the FTSE China 50 Index. It is critical to understand that YANG is **not designed for long-term holding**. Due to the daily reset mechanism and the effects of mathematical compounding, the fund’s performance over periods longer than a single day can deviate significantly from the simple triple-inverse of the target index. Traders often utilize YANG as a tactical hedge alongside a complete list of semiconductor companies listed on U.S. exchanges to manage global macro exposure.
The fund primarily utilizes swap agreements and other financial derivatives to achieve its aggressive leverage. Because of its 3x inverse structure, YANG is extremely sensitive to market volatility; in a “choppy” market where prices move sideways, the fund can lose value even if the underlying index remains flat. Sophisticated investors might monitor YANG when also tracking a list of publicly traded crude oil tanker companies, as both are highly influenced by Chinese industrial demand and global trade sentiment. With an expense ratio of approximately 1.08%, this is a high-cost vehicle meant for intraday or very short-term tactical maneuvers, rather than a “buy and hold” core position.
Key Takeaways — YANG Stock
YANG seeks to provide -300% of the daily performance of the FTSE China 50 Index, magnifying gains and losses by three times.
Due to daily compounding and “volatility decay,” holding this ETF for weeks or months can lead to massive losses even if the index drops.
Ideal for hedging or speculating on rapid downturns in large-cap Chinese stocks like Alibaba, Tencent, and Meituan.
With an expense ratio around 1.08%, it is significantly more expensive than standard index funds, reflecting the cost of leverage.
YANG — Live Price Chart
Real-time chart from TradingView.
YANG ETF Vitals & Key Statistics
Core data as of May 2026.
| Data Point | Value | Data Point | Value |
|---|---|---|---|
| Full Name | Direxion Daily FTSE China Bear 3X ETF | Ticker | YANG |
| Issuer | Direxion | Asset Class | Equity (Inverse Leveraged) |
| Index Tracked | FTSE China 50 Net Tax USD Index | Structure | ETF |
| Expense Ratio | 1.08% | AUM | ~$110M |
| Inception Date | December 3, 2009 | Exchange | AMEX |
| No. of Holdings | 12 | Dividend Yield | 0.00% |
| 52-Week High | $31.05 | 52-Week Low | $31.05 |
| Avg Daily Volume | ~1.5M Shares | YTD Return | Variable |
| 1-Year Return | Variable | 5-Year Return | Variable |
| Category | Trading–Inverse Equity | Dividend Frequency | Quarterly (Rare) |
YANG Top 10 Holdings (May 2026)
Largest positions by weight. Click columns to sort. Note: Holdings are primarily swap agreements.
| Rank | Ticker | Company Name | Sector | Weight % |
|---|---|---|---|---|
| 1 | YINN | Direxion Daily FTSE China Bull 3X ETF (Counterpart) | Derivatives | 1.52% |
| 2 | FXP | ProShares UltraShort FTSE China 50 (2x Inverse) | Derivatives | 0.95% |
| 3 | YXI | ProShares Short FTSE China 50 (1x Inverse) | Derivatives | 0.95% |
| 4 | CASH | U.S. Dollar Cash / Collateral | Financial | — |
| 5 | SWAP | Goldman Sachs International Swap | Financial | — |
| 6 | SWAP | Citibank NA Swap | Financial | — |
| 7 | SWAP | Morgan Stanley & Co. Swap | Financial | — |
| 8 | SWAP | JPMorgan Chase Bank Swap | Financial | — |
| 9 | SWAP | BNP Paribas Swap | Financial | — |
| 10 | SWAP | HSBC Bank USA Swap | Financial | — |
YANG — Pros & Cons
✓ Profit in Downturns
Allows investors to capture 3x gains when the Chinese market is crashing without needing to short sell individual stocks.
✗ Volatility Decay
The mathematical “path dependency” means the fund can lose significant value in sideways markets, regardless of index direction.
✓ High Liquidity
Provides easy entry and exit for day traders looking to capitalize on intraday swings or news events involving China.
✗ Daily Reset Risk
Because the leverage resets daily, the ETF’s performance over long periods will almost never equal 3x the long-term inverse return.
✓ Diversified Bearishness
Covers 50 of the largest and most liquid Chinese stocks, spreading the “short” across multiple industries simultaneously.
✗ Rapid Losses
If the Chinese market rallies 10% in a day, YANG could theoretically plummet 30%, leading to swift and permanent capital destruction.
Who Should Consider YANG?
Experienced **SHORT-TERM traders only** who understand daily reset leverage and want to bet against Chinese large-cap stocks for a single session or a few days.
Long-term, “buy-and-hold” investors or retirement accounts. It is unsuitable for anyone who does not monitor their portfolio daily.
You anticipate immediate bearish news regarding the Chinese economy, trade tariffs, or geopolitical shifts involving LNG shipping companies and trade routes.
High-activity brokerage accounts where the trader has the tools to set tight stop-losses and exit positions before the market close.
YANG vs Similar ETFs
Key metrics comparison.
| ETF | Full Name | Expense Ratio | AUM | Holdings | Div Yield | YTD | Best For |
|---|---|---|---|---|---|---|---|
| YANG ★ | Direxion Daily China Bear 3X | 1.08% | $110M | 12 | 0.00% | Variable | Short-Term Bearish |
| FXP | ProShares UltraShort China 50 | 0.95% | ~$35M | — | 0.00% | Variable | 2x Inverse Hedge |
| YXI | ProShares Short FTSE China 50 | 0.95% | ~$5M | — | 0.00% | Variable | 1x Inverse Exposure |
| YINN | Direxion Daily China Bull 3X | 1.08% | ~$450M | — | 1.00% | Variable | Short-Term Bullish |
YANG Technical Analysis
Real-time buy/sell signals.
YANG — Risks & Considerations
Compounding & Daily Reset
The 3x leverage reset every day creates a mathematical drag. In periods of high volatility, you can lose money even if the index ends up lower than where you started.
Extreme Leverage Risk
Amplifying losses by 300% means a small market move against your position can wipe out a huge portion of your capital in minutes.
Geopolitical Volatility
Investing in Chinese-focused products involves exposure to regulatory shifts, trade wars, and political decisions that can cause massive overnight gaps in price.
Derivative Counterparty Risk
Since YANG uses swaps, there is a technical risk that the banks providing these contracts (the counterparties) could fail to meet their obligations.