ASMG vs. YCS

Last updated Jun 23, 2026

ASMG (Leverage Shares 2X Long ASML Daily ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - ASMG is a Leveraged Equities fund actively managed by Leverage Shares, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). ASMG is actively managed, while YCS is passively managed. Over the past year, ASMG returned 386.21% vs 31.36% for YCS. At a correlation of -0.01, they often move in opposite directions. ASMG charges 0.75%/yr vs 1.00%/yr for YCS.

Performance

ASMG vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long ASML Daily ETF (ASMG) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASMG achieves a 176.24% return, which is significantly higher than YCS's 9.78% return.

ASMG

• 1D: -0.22%
• 1M: 34.94%
• YTD: 176.24%
• 6M: 182.30%
• 1Y: 386.21%
• 3Y*: —
• 5Y*: —
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ASMG vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025
ASMG Leverage Shares 2X Long ASML Daily ETF	176.24%	62.68%
YCS ProShares UltraShort Yen	9.78%	6.08%

Correlation

The correlation between ASMG and YCS is -0.18, 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	-0.18
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	-0.01

The correlation between ASMG and YCS shifts across timeframes, from -0.18 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ASMG vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASMG

ASMG Risk / Return Rank: 91
ASMG Sharpe Ratio Rank: 97
ASMG Sortino Ratio Rank: 86
ASMG Omega Ratio Rank: 80
ASMG Calmar Ratio Rank: 97
ASMG Martin Ratio Rank: 95

YCS

YCS Risk / Return Rank: 61
YCS Sharpe Ratio Rank: 57
YCS Sortino Ratio Rank: 49
YCS Omega Ratio Rank: 57
YCS Calmar Ratio Rank: 77
YCS Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASMG vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ASML Daily ETF (ASMG) 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.

	ASMG	YCS	Difference
Sharpe ratio: Return per unit of total volatility	4.52	1.86	+2.66
Sortino ratio: Return per unit of downside risk	3.70	2.37	+1.33
Omega ratio: Gain probability vs. loss probability	1.45	1.35	+0.11
Calmar ratio: Return relative to maximum drawdown	11.26	3.79	+7.47
Martin ratio: Return relative to average drawdown	28.02	11.86	+16.16

ASMG vs. YCS - Sharpe Ratio Comparison

The current ASMG Sharpe Ratio is 4.52, which is higher than the YCS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of ASMG and YCS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ASMG vs. YCS - Drawdown Comparison

The maximum ASMG drawdown since its inception was -43.95%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for ASMG and YCS.

Drawdown Indicators

	ASMG	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-43.95%	-49.56%	+5.61%
Max Drawdown (1Y) Largest decline over 1 year	-34.56%	-8.30%	-26.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.32%	—
Current Drawdown Current decline from peak	-0.22%	0.00%	-0.22%
Average Drawdown Average peak-to-trough decline	-12.91%	-19.88%	+6.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.87%	2.65%	+11.22%

Volatility

ASMG vs. YCS - Volatility Comparison

Leverage Shares 2X Long ASML Daily ETF (ASMG) has a higher volatility of 32.41% compared to ProShares UltraShort Yen (YCS) at 2.22%. This indicates that ASMG'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.

Volatility by Period

	ASMG	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.41%	2.22%	+30.19%
Volatility (6M) Calculated over the trailing 6-month period	68.33%	12.19%	+56.14%
Volatility (1Y) Calculated over the trailing 1-year period	86.22%	16.96%	+69.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	86.79%	21.10%	+65.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	86.79%	18.96%	+67.83%

ASMG vs. YCS - Expense Ratio Comparison

ASMG has a 0.75% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

ASMG vs. YCS - Dividend Comparison

ASMG's dividend yield for the trailing twelve months is around 4.06%, while YCS has not paid dividends to shareholders.

Position	TTM	2025
ASMG Leverage Shares 2X Long ASML Daily ETF	4.06%	11.20%
YCS ProShares UltraShort Yen	0.00%	0.00%

Frequently Asked Questions

Can I hold both ASMG and YCS in my portfolio?

ASMG and YCS have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASMG or YCS?

ASMG has higher volatility (32.41%) compared to YCS (2.22%). In terms of maximum drawdown, ASMG dropped -43.95% vs YCS's -49.56%.

Which ETF is better, ASMG or YCS?

On 1-year performance, ASMG leads with 386.21% vs 31.36% for YCS. On fees, ASMG is cheaper at 0.75% 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.

Which ETF has performed better, ASMG or YCS?

Over the 1-year period, ASMG has performed better with a 386.21% return vs 31.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ASMG or YCS?

ASMG is cheaper with a 0.75% expense ratio, compared with 1.00% for YCS.

Which ETF pays a higher dividend yield, ASMG or YCS?

ASMG has the higher dividend yield at 4.06%, compared with 0.00% for YCS.

What is the main difference between ASMG and YCS?

ASMG is categorized as Leveraged Equities, while YCS is Leveraged Currency. They also come from different issuers: Leverage Shares and ProShares. Their fees differ too: 0.75% for ASMG and 1.00% for YCS.

Which has better risk-adjusted returns?

ASMG currently has the higher Sharpe Ratio (4.52 vs 1.86), 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.