BDCZ vs. YCS
BDCZ (ETRACS MVIS Business Development Companies Index ETN) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - BDCZ is a Financials Equities fund tracking the BDCZ-US - MVIS US Business Development Companies Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, BDCZ returned 5.97%/yr vs 13.66%/yr for YCS. At a 0.04 correlation, their price movements are largely independent. BDCZ charges 0.85%/yr vs 1.00%/yr for YCS.
Performance
BDCZ vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, BDCZ achieves a -9.41% return, which is significantly lower than YCS's 10.06% return. Over the past 10 years, BDCZ has underperformed YCS with an annualized return of 5.97%, while YCS has yielded a comparatively higher 13.66% annualized return.
BDCZ
- 1D
- -0.75%
- 1M
- -1.54%
- YTD
- -9.41%
- 6M
- -6.62%
- 1Y
- -11.56%
- 3Y*
- 4.45%
- 5Y*
- 3.21%
- 10Y*
- 5.97%
YCS
- 1D
- 0.39%
- 1M
- 3.97%
- YTD
- 10.06%
- 6M
- 11.27%
- 1Y
- 34.18%
- 3Y*
- 18.53%
- 5Y*
- 23.65%
- 10Y*
- 13.66%
BDCZ vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | -9.41% | -3.72% | 12.22% | 25.31% | -9.12% | 33.97% | -10.95% | 26.00% | -7.64% | 0.40% |
YCS ProShares UltraShort Yen | 10.06% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between BDCZ and YCS is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2015 | 0.04 |
The correlation between BDCZ and YCS shifts across timeframes, from -0.09 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BDCZ vs. YCS — Risk / Return Rank
BDCZ
YCS
BDCZ vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS MVIS Business Development Companies Index ETN (BDCZ) 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.
| BDCZ | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.60 | ||
| Sortino ratioReturn per unit of downside risk | -3.24 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.38 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 4.14 | -4.72 |
| Martin ratioReturn relative to average drawdown | -1.00 | 13.04 | -14.04 |
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Drawdowns
BDCZ vs. YCS - Drawdown Comparison
The maximum BDCZ drawdown since its inception was -55.63%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for BDCZ and YCS.
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Drawdown Indicators
| BDCZ | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.63% | -49.56% | -6.07% |
Max Drawdown (1Y)Largest decline over 1 year | -19.95% | -8.30% | -11.65% |
Max Drawdown (3Y)Largest decline over 3 years | -20.77% | -23.05% | +2.28% |
Max Drawdown (5Y)Largest decline over 5 years | -23.12% | -27.32% | +4.20% |
Max Drawdown (10Y)Largest decline over 10 years | -55.63% | -27.32% | -28.31% |
Current DrawdownCurrent decline from peak | -18.55% | 0.00% | -18.55% |
Average DrawdownAverage peak-to-trough decline | -7.91% | -19.87% | +11.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.56% | 2.63% | +8.93% |
Volatility
BDCZ vs. YCS - Volatility Comparison
ETRACS MVIS Business Development Companies Index ETN (BDCZ) has a higher volatility of 8.42% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that BDCZ'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
| BDCZ | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.42% | 2.25% | +6.17% |
Volatility (6M)Calculated over the trailing 6-month period | 17.33% | 11.91% | +5.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.61% | 16.93% | +3.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.81% | 21.10% | -3.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.76% | 18.82% | +2.94% |
BDCZ vs. YCS - Expense Ratio Comparison
BDCZ has a 0.85% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
BDCZ vs. YCS - Dividend Comparison
BDCZ's dividend yield for the trailing twelve months is around 11.45%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BDCZ ETRACS MVIS Business Development Companies Index ETN | 11.45% | 10.65% | 9.26% | 9.13% | 9.39% | 7.49% | 10.01% | 8.40% | 9.66% | 8.74% | 7.98% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BDCZ and YCS have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDCZ has higher volatility (8.42%) compared to YCS (2.25%). In terms of maximum drawdown, BDCZ dropped -55.63% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.66% vs 5.97% for BDCZ. On fees, BDCZ is cheaper at 0.85% per year. On volatility, YCS has been the lower-risk option at 2.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, YCS has performed better with a 13.66% return vs 5.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BDCZ is cheaper with a 0.85% expense ratio, compared with 1.00% for YCS.
BDCZ has the higher dividend yield at 11.45%, compared with 0.00% for YCS.
BDCZ is categorized as Financials Equities, while YCS is Leveraged Currency. BDCZ tracks BDCZ-US - MVIS US Business Development Companies Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: UBS and ProShares. Their fees differ too: 0.85% for BDCZ and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (2.04 vs -0.56), 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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