---
title: "How investors lost 89% betting against China — even when their prediction was correct"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285405750.md"
description: "Investors betting against China through Direxion Daily FTSE China Bear 3X Shares (YANG) have faced significant losses, with the fund's value plummeting 99% over the past decade, closing near $28 today compared to $4,700 ten years ago. This decline is attributed to daily-reset leverage that exacerbates losses over time. In contrast, the iShares China Large-Cap ETF (FXI) has seen a 7% gain over the past year."
datetime: "2026-05-06T15:39:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285405750.md)
  - [en](https://longbridge.com/en/news/285405750.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285405750.md)
---

# How investors lost 89% betting against China — even when their prediction was correct

Quick Read Direxion Daily FTSE China Bear 3X Shares (YANG) closed near $28 today versus roughly $4,700 ten years ago on a split-adjusted basis, representing a 99% decline due to daily-reset leverage that compounds losses over extended holding periods. The iShares China Large-Cap ETF (FXI) gained 7% over the past year w...

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