BDVL vs. YCS

Last updated Jun 24, 2026

BDVL (iShares Disciplined Volatility Equity Active ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - BDVL is a Global Equities fund tracking the MSCI ACWI Minimum Volatility Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. At a correlation of -0.31, they often move in opposite directions. BDVL charges 0.40%/yr vs 1.00%/yr for YCS.

Performance

BDVL vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Disciplined Volatility Equity Active ETF (BDVL) 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, BDVL achieves a 4.73% return, which is significantly lower than YCS's 9.63% return.

BDVL

• 1D: -0.97%
• 1M: -0.75%
• YTD: 4.73%
• 6M: 4.36%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

YCS

• 1D: -0.14%
• 1M: 3.57%
• YTD: 9.63%
• 6M: 10.44%
• 1Y: 31.27%
• 3Y*: 18.37%
• 5Y*: 23.52%
• 10Y*: 13.62%

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

BDVL vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025
BDVL iShares Disciplined Volatility Equity Active ETF	4.73%	2.20%
YCS ProShares UltraShort Yen	9.63%	15.11%

Correlation

The correlation between BDVL and YCS is -0.31, 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 (All Time) Calculated using the full available price history since Sep 15, 2025	-0.31

Return for Risk

BDVL vs. YCS — Risk / Return Rank

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

BDVL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

YCS

YCS Risk / Return Rank: 63
YCS Sharpe Ratio Rank: 58
YCS Sortino Ratio Rank: 51
YCS Omega Ratio Rank: 59
YCS Calmar Ratio Rank: 77
YCS Martin Ratio Rank: 69

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.

BDVL vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Disciplined Volatility Equity Active ETF (BDVL) 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.

	BDVL	YCS	Difference
Sharpe ratio: Return per unit of total volatility	—	1.86	—
Sortino ratio: Return per unit of downside risk	—	2.36	—
Omega ratio: Gain probability vs. loss probability	—	1.34	—
Calmar ratio: Return relative to maximum drawdown	—	3.78	—
Martin ratio: Return relative to average drawdown	—	11.93	—

Drawdowns

BDVL vs. YCS - Drawdown Comparison

The maximum BDVL drawdown since its inception was -7.71%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for BDVL and YCS.

Drawdown Indicators

	BDVL	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-7.71%	-49.56%	+41.85%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.30%	—
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	-1.41%	-0.14%	-1.27%
Average Drawdown Average peak-to-trough decline	-1.18%	-19.87%	+18.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.65%	—

Volatility

Volatility by Period

	BDVL	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.25%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.19%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.71%	16.93%	-7.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.71%	21.10%	-11.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.71%	18.82%	-9.11%

BDVL vs. YCS - Expense Ratio Comparison

BDVL has a 0.40% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

BDVL vs. YCS - Dividend Comparison

BDVL's dividend yield for the trailing twelve months is around 3.56%, while YCS has not paid dividends to shareholders.

Position	TTM	2025
BDVL iShares Disciplined Volatility Equity Active ETF	3.56%	2.79%
YCS ProShares UltraShort Yen	0.00%	0.00%

Frequently Asked Questions

Can I hold both BDVL and YCS in my portfolio?

BDVL and YCS have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BDVL or YCS?

On fees, BDVL is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BDVL or YCS?

BDVL is cheaper with a 0.40% expense ratio, compared with 1.00% for YCS.

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

BDVL has the higher dividend yield at 3.56%, compared with 0.00% for YCS.

What is the main difference between BDVL and YCS?

BDVL is categorized as Global Equities, while YCS is Leveraged Currency. BDVL tracks MSCI ACWI Minimum Volatility Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.40% for BDVL and 1.00% for YCS.