BTAL vs. YCS
BTAL (AGFiQ US Market Neutral Anti-Beta Fund) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - BTAL is a Long-Short fund tracking the Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, BTAL returned -4.23%/yr vs 12.25%/yr for YCS. At a correlation of -0.13, they often move in opposite directions. BTAL charges 2.11%/yr vs 1.00%/yr for YCS.
Performance
BTAL vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, BTAL achieves a -16.82% return, which is significantly lower than YCS's 7.54% return. Over the past 10 years, BTAL has underperformed YCS with an annualized return of -4.23%, while YCS has yielded a comparatively higher 12.25% annualized return.
BTAL
- 1D
- 4.00%
- 1M
- -0.42%
- YTD
- -16.82%
- 6M
- -15.72%
- 1Y
- -33.92%
- 3Y*
- -11.25%
- 5Y*
- -3.89%
- 10Y*
- -4.23%
YCS
- 1D
- 0.35%
- 1M
- 5.12%
- YTD
- 7.54%
- 6M
- 10.01%
- 1Y
- 31.94%
- 3Y*
- 20.09%
- 5Y*
- 23.63%
- 10Y*
- 12.25%
BTAL vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTAL AGFiQ US Market Neutral Anti-Beta Fund | -16.82% | -20.17% | 12.83% | -15.11% | 20.48% | -6.81% | -13.86% | 1.07% | 15.13% | -2.13% |
YCS ProShares UltraShort Yen | 7.54% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between BTAL and YCS is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2011 | -0.13 |
The correlation between BTAL and YCS shifts across timeframes, from -0.13 (all time) to 0.05 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BTAL vs. YCS — Risk / Return Rank
BTAL
YCS
BTAL vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AGFiQ US Market Neutral Anti-Beta Fund (BTAL) 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.
| BTAL | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.59 | ||
| Sortino ratioReturn per unit of downside risk | -5.02 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.37 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 4.11 | -5.05 |
| Martin ratioReturn relative to average drawdown | -1.60 | 12.84 | -14.45 |
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
| BTAL | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.59 | 2.00 | -3.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.21 | 1.13 | -1.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.25 | 0.65 | -0.89 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.23 | 0.33 | -0.56 |
Drawdowns
BTAL vs. YCS - Drawdown Comparison
The maximum BTAL drawdown since its inception was -50.28%, roughly equal to the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for BTAL and YCS.
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Drawdown Indicators
| BTAL | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.28% | -49.56% | -0.72% |
Max Drawdown (1Y)Largest decline over 1 year | -37.50% | -8.30% | -29.20% |
Max Drawdown (3Y)Largest decline over 3 years | -45.16% | -23.05% | -22.11% |
Max Drawdown (5Y)Largest decline over 5 years | -45.16% | -27.32% | -17.84% |
Max Drawdown (10Y)Largest decline over 10 years | -50.28% | -27.32% | -22.96% |
Current DrawdownCurrent decline from peak | -48.15% | 0.00% | -48.15% |
Average DrawdownAverage peak-to-trough decline | -21.97% | -19.92% | -2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.78% | 2.65% | +19.13% |
Volatility
BTAL vs. YCS - Volatility Comparison
AGFiQ US Market Neutral Anti-Beta Fund (BTAL) has a higher volatility of 7.98% compared to ProShares UltraShort Yen (YCS) at 1.56%. This indicates that BTAL'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
| BTAL | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.98% | 1.56% | +6.42% |
Volatility (6M)Calculated over the trailing 6-month period | 15.83% | 12.27% | +3.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.98% | 17.09% | +4.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.83% | 21.08% | -2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.27% | 19.00% | -1.73% |
BTAL vs. YCS - Expense Ratio Comparison
BTAL has a 2.11% expense ratio, which is higher than YCS's 1.00% expense ratio.
Dividends
BTAL vs. YCS - Dividend Comparison
BTAL's dividend yield for the trailing twelve months is around 2.99%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 2.99% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTAL and YCS have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTAL has higher volatility (7.98%) compared to YCS (1.56%). In terms of maximum drawdown, BTAL dropped -50.28% vs YCS's -49.56%.
On 10-year performance, YCS leads with 12.25% vs -4.23% for BTAL. On fees, YCS is cheaper at 1.00% per year. On volatility, YCS has been the lower-risk option at 1.56%. 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 12.25% return vs -4.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YCS is cheaper with a 1.00% expense ratio, compared with 2.11% for BTAL.
BTAL has the higher dividend yield at 2.99%, compared with 0.00% for YCS.
BTAL is categorized as Long-Short, while YCS is Leveraged Currency. BTAL tracks Dow Jones U.S. Thematic Market Neutral Anti-Beta Total Return Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: AGF and ProShares. Their fees differ too: 2.11% for BTAL and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (2.00 vs -1.59), 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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