APRZ vs. YCS
APRZ (TrueShares Structured Outcome (April) ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - APRZ is a Defined Outcome fund tracking the S&P 500 Price Return Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 5 years, APRZ returned 10.94%/yr vs 23.50%/yr for YCS. At a correlation of -0.03, they often move in opposite directions. APRZ charges 0.79%/yr vs 1.00%/yr for YCS.
Performance
APRZ vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, APRZ achieves a 6.47% return, which is significantly lower than YCS's 9.78% return.
APRZ
- 1D
- -0.33%
- 1M
- 0.16%
- YTD
- 6.47%
- 6M
- 6.08%
- 1Y
- 19.26%
- 3Y*
- 15.36%
- 5Y*
- 10.94%
- 10Y*
- —
YCS
- 1D
- 0.40%
- 1M
- 3.71%
- YTD
- 9.78%
- 6M
- 9.63%
- 1Y
- 31.36%
- 3Y*
- 18.43%
- 5Y*
- 23.50%
- 10Y*
- 13.63%
APRZ vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
APRZ TrueShares Structured Outcome (April) ETF | 6.47% | 12.97% | 18.46% | 22.23% | -11.43% | 13.39% |
YCS ProShares UltraShort Yen | 9.78% | 9.04% | 35.41% | 28.70% | 29.09% | 6.74% |
Correlation
The correlation between APRZ and YCS is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | -0.03 |
The correlation between APRZ and YCS shifts across timeframes, from -0.19 (1 year) to -0.02 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
APRZ vs. YCS — Risk / Return Rank
APRZ
YCS
APRZ vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (April) ETF (APRZ) and ProShares UltraShort Yen (YCS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| APRZ | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.35 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.19 | 3.79 | -1.61 |
| Martin ratioReturn relative to average drawdown | 9.47 | 11.86 | -2.39 |
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Drawdowns
APRZ vs. YCS - Drawdown Comparison
The maximum APRZ drawdown since its inception was -18.15%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for APRZ and YCS.
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Drawdown Indicators
| APRZ | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.15% | -49.56% | +31.41% |
Max Drawdown (1Y)Largest decline over 1 year | -8.85% | -8.30% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -15.15% | -23.05% | +7.90% |
Max Drawdown (5Y)Largest decline over 5 years | -18.15% | -27.32% | +9.17% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -1.41% | 0.00% | -1.41% |
Average DrawdownAverage peak-to-trough decline | -3.61% | -19.88% | +16.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 2.65% | -0.61% |
Volatility
APRZ vs. YCS - Volatility Comparison
TrueShares Structured Outcome (April) ETF (APRZ) has a higher volatility of 3.57% compared to ProShares UltraShort Yen (YCS) at 2.22%. This indicates that APRZ's price experiences larger fluctuations and is considered to be riskier than YCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APRZ | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 2.22% | +1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 8.57% | 12.19% | -3.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.63% | 16.96% | -6.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.59% | 21.10% | -8.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.44% | 18.96% | -6.52% |
APRZ vs. YCS - Expense Ratio Comparison
APRZ has a 0.79% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
APRZ vs. YCS - Dividend Comparison
APRZ's dividend yield for the trailing twelve months is around 3.15%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
APRZ TrueShares Structured Outcome (April) ETF | 3.15% | 3.35% | 2.78% | 2.89% | 0.59% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
APRZ and YCS have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APRZ has higher volatility (3.57%) compared to YCS (2.22%). In terms of maximum drawdown, APRZ dropped -18.15% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.50% vs 10.94% for APRZ. On fees, APRZ is cheaper at 0.79% per year. On volatility, YCS has been the lower-risk option at 2.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, YCS has performed better with a 23.50% return vs 10.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
APRZ is cheaper with a 0.79% expense ratio, compared with 1.00% for YCS.
APRZ has the higher dividend yield at 3.15%, compared with 0.00% for YCS.
APRZ is categorized as Defined Outcome, while YCS is Leveraged Currency. APRZ tracks S&P 500 Price Return Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: TrueShares and ProShares. Their fees differ too: 0.79% for APRZ and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.86 vs 1.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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