BSMY vs. YCS
BSMY (Invesco BulletShares 2034 Municipal Bond ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - BSMY is a Municipal Bonds fund tracking the Invesco BulletShares USD Municipal Bond 2034 Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past year, BSMY returned 7.81% vs 34.99% for YCS. At a correlation of -0.32, they often move in opposite directions. BSMY charges 0.18%/yr vs 1.00%/yr for YCS.
Performance
BSMY vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, BSMY achieves a 1.52% return, which is significantly lower than YCS's 7.17% return.
BSMY
- 1D
- 0.08%
- 1M
- 0.61%
- YTD
- 1.52%
- 6M
- 2.01%
- 1Y
- 7.81%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
YCS
- 1D
- 0.00%
- 1M
- 3.39%
- YTD
- 7.17%
- 6M
- 10.02%
- 1Y
- 34.99%
- 3Y*
- 20.03%
- 5Y*
- 23.54%
- 10Y*
- 12.16%
BSMY vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BSMY Invesco BulletShares 2034 Municipal Bond ETF | 1.52% | 3.82% | -1.86% |
YCS ProShares UltraShort Yen | 7.17% | 9.04% | 22.84% |
Correlation
The correlation between BSMY and YCS is -0.35, 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 | -0.35 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2024 | -0.32 |
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Return for Risk
BSMY vs. YCS — Risk / Return Rank
BSMY
YCS
BSMY vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2034 Municipal Bond ETF (BSMY) 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.
| BSMY | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.38 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 4.23 | -1.86 |
| Martin ratioReturn relative to average drawdown | 8.20 | 13.22 | -5.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BSMY | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.28 | 2.06 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.12 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.64 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.33 | +0.05 |
Drawdowns
BSMY vs. YCS - Drawdown Comparison
The maximum BSMY drawdown since its inception was -6.81%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for BSMY and YCS.
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Drawdown Indicators
| BSMY | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.81% | -49.56% | +42.75% |
Max Drawdown (1Y)Largest decline over 1 year | -3.31% | -8.30% | +4.99% |
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 DrawdownCurrent decline from peak | -0.71% | 0.00% | -0.71% |
Average DrawdownAverage peak-to-trough decline | -1.98% | -19.93% | +17.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 2.65% | -1.69% |
Volatility
BSMY vs. YCS - Volatility Comparison
The current volatility for Invesco BulletShares 2034 Municipal Bond ETF (BSMY) is 1.28%, while ProShares UltraShort Yen (YCS) has a volatility of 2.62%. This indicates that BSMY 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
| BSMY | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 2.62% | -1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 12.31% | -9.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.46% | 17.18% | -13.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.23% | 21.09% | -15.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.23% | 19.01% | -13.78% |
BSMY vs. YCS - Expense Ratio Comparison
BSMY has a 0.18% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
BSMY vs. YCS - Dividend Comparison
BSMY's dividend yield for the trailing twelve months is around 3.52%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BSMY Invesco BulletShares 2034 Municipal Bond ETF | 3.52% | 3.31% | 0.79% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSMY and YCS have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCS has higher volatility (2.62%) compared to BSMY (1.28%). In terms of maximum drawdown, BSMY dropped -6.81% vs YCS's -49.56%.
On 1-year performance, YCS leads with 34.99% vs 7.81% for BSMY. On fees, BSMY is cheaper at 0.18% per year. On volatility, BSMY has been the lower-risk option at 1.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, YCS has performed better with a 34.99% return vs 7.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSMY is cheaper with a 0.18% expense ratio, compared with 1.00% for YCS.
BSMY has the higher dividend yield at 3.52%, compared with 0.00% for YCS.
BSMY is categorized as Municipal Bonds, while YCS is Leveraged Currency. BSMY tracks Invesco BulletShares USD Municipal Bond 2034 Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.18% for BSMY and 1.00% for YCS.
BSMY currently has the higher Sharpe Ratio (2.28 vs 2.06), 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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