BKLN vs. YCS
BKLN (Invesco Senior Loan ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - BKLN is a Bank Loan fund tracking the Morningstar LSTA US Leveraged Loan 100 Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, BKLN returned 4.33%/yr vs 13.63%/yr for YCS. At a 0.07 correlation, their price movements are largely independent. BKLN charges 0.65%/yr vs 1.00%/yr for YCS.
Performance
BKLN vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, BKLN achieves a -0.03% return, which is significantly lower than YCS's 9.78% return. Over the past 10 years, BKLN has underperformed YCS with an annualized return of 4.33%, while YCS has yielded a comparatively higher 13.63% annualized return.
BKLN
- 1D
- 0.01%
- 1M
- -0.04%
- YTD
- -0.03%
- 6M
- 0.26%
- 1Y
- 4.45%
- 3Y*
- 7.23%
- 5Y*
- 5.17%
- 10Y*
- 4.33%
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%
BKLN vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BKLN Invesco Senior Loan ETF | -0.03% | 6.88% | 8.21% | 12.53% | -2.51% | 2.32% | 1.32% | 10.03% | -1.32% | 2.13% |
YCS ProShares UltraShort Yen | 9.78% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between BKLN 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 | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2011 | 0.07 |
The correlation between BKLN and YCS shifts across timeframes, from -0.19 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BKLN vs. YCS — Risk / Return Rank
BKLN
YCS
BKLN vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Senior Loan ETF (BKLN) 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.
| BKLN | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.35 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | 3.79 | -2.34 |
| Martin ratioReturn relative to average drawdown | 5.68 | 11.86 | -6.18 |
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Drawdowns
BKLN vs. YCS - Drawdown Comparison
The maximum BKLN drawdown since its inception was -24.17%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for BKLN and YCS.
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Drawdown Indicators
| BKLN | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.17% | -49.56% | +25.39% |
Max Drawdown (1Y)Largest decline over 1 year | -3.07% | -8.30% | +5.23% |
Max Drawdown (3Y)Largest decline over 3 years | -3.55% | -23.05% | +19.50% |
Max Drawdown (5Y)Largest decline over 5 years | -7.31% | -27.32% | +20.01% |
Max Drawdown (10Y)Largest decline over 10 years | -24.17% | -27.32% | +3.15% |
Current DrawdownCurrent decline from peak | -0.47% | 0.00% | -0.47% |
Average DrawdownAverage peak-to-trough decline | -1.09% | -19.88% | +18.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 2.65% | -1.87% |
Volatility
BKLN vs. YCS - Volatility Comparison
The current volatility for Invesco Senior Loan ETF (BKLN) is 0.53%, while ProShares UltraShort Yen (YCS) has a volatility of 2.22%. This indicates that BKLN experiences smaller price fluctuations and is considered to be less risky 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
| BKLN | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 2.22% | -1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 12.19% | -9.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.77% | 16.96% | -14.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.48% | 21.10% | -16.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.43% | 18.96% | -12.53% |
BKLN vs. YCS - Expense Ratio Comparison
BKLN has a 0.65% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
BKLN vs. YCS - Dividend Comparison
BKLN's dividend yield for the trailing twelve months is around 7.16%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKLN Invesco Senior Loan ETF | 6.59% | 6.95% | 8.41% | 8.59% | 4.93% | 3.11% | 3.56% | 4.86% | 4.52% | 3.50% | 4.54% | 4.12% |
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% | 0.00% |
Frequently Asked Questions
BKLN 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.
YCS has higher volatility (2.22%) compared to BKLN (0.53%). In terms of maximum drawdown, BKLN dropped -24.17% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.63% vs 4.33% for BKLN. On fees, BKLN is cheaper at 0.65% per year. On volatility, BKLN has been the lower-risk option at 0.53%. 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 13.63% return vs 4.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKLN is cheaper with a 0.65% expense ratio, compared with 1.00% for YCS.
BKLN has the higher dividend yield at 7.16%, compared with 0.00% for YCS.
BKLN is categorized as Bank Loan, while YCS is Leveraged Currency. BKLN tracks Morningstar LSTA US Leveraged Loan 100 Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.65% for BKLN and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.86 vs 1.62), 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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