Share-split context: A reverse split was recorded on Nov 20, 2025 with coefficient 0.5. A reverse split combines multiple old shares into fewer new shares and mechanically raises the quoted price per share. That mechanical increase does not restore lost investment value. The returns in this report are already split-adjusted, while reverse-split history remains a separate structural warning.

ETF Educational Report: ProShares Short FTSE China 50 -1x Shares (YXI)

What this ETF is trying to do

The YXI ETF is an "inverse" ETF. This means it is designed to move in the opposite direction of the FTSE China 50 index. When that specific index goes down, this ETF is generally designed to go up.

What the numbers show

It is important to understand that "price return" and "total return" are different. Price return only tracks the change in the share price. Total return includes both the price change and any cash distributions paid out to investors.

Here is what the data shows:

• Year-to-Date (YTD): The price return is approximately 13.38%. The total return is approximately 15.12%.

• One Year: The price return is approximately 19.66%. The total return is approximately 22.41%.

• Three Years: The price return is approximately -35.92%. The total return is approximately -29.40%.

• Five Years: The five-year total return is approximately -18.09%.

This ETF has a history of reverse splits. In a reverse split, multiple old shares are combined into fewer new shares. This causes the quoted per-share price to rise mechanically, but it does not increase the actual value of your investment.

Income and distribution explanation

This ETF pays out cash distributions. The current distribution yield is approximately 2.16%. Over the last 12 months, there were 4 distributions. These usually happen on a quarterly basis, often on Wednesdays. While these payments provide cash, they are not the same as total return.

NAV erosion explanation

"NAV erosion" is a term used to describe when the value of the underlying assets in an ETF decreases significantly. StockValueFinder uses an "erosion-risk score" to measure this risk. For YXI, the erosion score is 100, and the label states "No price erosion detected." The erosion severity is rated as "good," and there is no severe erosion-risk flag.

Pros

• The ETF has shown positive price returns and total returns so far this year.

• It has also shown positive performance over the last one-year period.

• The erosion-risk measurements currently look good.

Cons

• The ETF has had negative total returns over the three-year and five-year periods.

• Because it is an inverse ETF, its performance depends on the index moving in a specific direction.

• There is no data available for the Top Holdings of this ETF.

Beginner takeaway

When looking at YXI, it is important to distinguish between price changes and total returns. While the ETF has performed well recently (over the last year), its longer-term history shows negative returns. Additionally, remember that a reverse split changes the number of shares you own and the price per share, but it does not create a gain or loss for the investor.