BTRN vs. YCS

Last updated Jun 24, 2026

BTRN (Global X Bitcoin Trend Strategy ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - BTRN is a Cryptocurrency fund tracking the CoinDesk Bitcoin Trend Indicator Futures Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past year, BTRN returned -15.56% vs 31.27% for YCS. At a correlation of -0.05, they often move in opposite directions. BTRN charges 0.95%/yr vs 1.00%/yr for YCS.

Performance

BTRN vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Bitcoin Trend Strategy ETF (BTRN) 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, BTRN achieves a -9.79% return, which is significantly lower than YCS's 9.63% return.

BTRN

• 1D: -0.75%
• 1M: -7.85%
• YTD: -9.79%
• 6M: -9.74%
• 1Y: -15.56%
• 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)

BTRN vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTRN Global X Bitcoin Trend Strategy ETF	-9.79%	4.89%	3.25%
YCS ProShares UltraShort Yen	9.63%	9.04%	14.80%

Correlation

The correlation between BTRN and YCS is -0.10, 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	-0.10
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024	-0.05

Return for Risk

BTRN vs. YCS — Risk / Return Rank

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

BTRN

BTRN Risk / Return Rank: 3
BTRN Sharpe Ratio Rank: 2
BTRN Sortino Ratio Rank: 3
BTRN Omega Ratio Rank: 2
BTRN Calmar Ratio Rank: 4
BTRN Martin Ratio Rank: 4

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.

BTRN vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Bitcoin Trend Strategy ETF (BTRN) 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.

	BTRN	YCS	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	1.86	-2.70
Sortino ratio: Return per unit of downside risk	-1.09	2.36	-3.45
Omega ratio: Gain probability vs. loss probability	0.85	1.34	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.61	3.78	-4.39
Martin ratio: Return relative to average drawdown	-0.99	11.93	-12.92

BTRN vs. YCS - Sharpe Ratio Comparison

The current BTRN Sharpe Ratio is -0.84, which is lower than the YCS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of BTRN and YCS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BTRN vs. YCS - Drawdown Comparison

The maximum BTRN drawdown since its inception was -36.97%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for BTRN and YCS.

Drawdown Indicators

	BTRN	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-36.97%	-49.56%	+12.59%
Max Drawdown (1Y) Largest decline over 1 year	-25.71%	-8.30%	-17.41%
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	-25.71%	-0.14%	-25.57%
Average Drawdown Average peak-to-trough decline	-14.64%	-19.87%	+5.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.73%	2.65%	+13.08%

Volatility

BTRN vs. YCS - Volatility Comparison

Global X Bitcoin Trend Strategy ETF (BTRN) has a higher volatility of 3.94% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that BTRN'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.

Volatility by Period

	BTRN	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	2.25%	+1.69%
Volatility (6M) Calculated over the trailing 6-month period	10.17%	12.19%	-2.02%
Volatility (1Y) Calculated over the trailing 1-year period	18.59%	16.93%	+1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.61%	21.10%	+9.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.61%	18.82%	+11.79%

BTRN vs. YCS - Expense Ratio Comparison

BTRN has a 0.95% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

BTRN vs. YCS - Dividend Comparison

BTRN's dividend yield for the trailing twelve months is around 30.77%, while YCS has not paid dividends to shareholders.

Position	TTM	2025	2024
BTRN Global X Bitcoin Trend Strategy ETF	30.77%	27.76%	2.56%
YCS ProShares UltraShort Yen	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BTRN and YCS in my portfolio?

BTRN and YCS have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTRN or YCS?

BTRN has higher volatility (3.94%) compared to YCS (2.25%). In terms of maximum drawdown, BTRN dropped -36.97% vs YCS's -49.56%.

Which ETF is better, BTRN or YCS?

On 1-year performance, YCS leads with 31.27% vs -15.56% for BTRN. On fees, BTRN is cheaper at 0.95% 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.

Which ETF has performed better, BTRN or YCS?

Over the 1-year period, YCS has performed better with a 31.27% return vs -15.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTRN or YCS?

BTRN is cheaper with a 0.95% expense ratio, compared with 1.00% for YCS.

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

BTRN has the higher dividend yield at 30.77%, compared with 0.00% for YCS.

What is the main difference between BTRN and YCS?

BTRN is categorized as Cryptocurrency, while YCS is Leveraged Currency. BTRN tracks CoinDesk Bitcoin Trend Indicator Futures Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Global X and ProShares. Their fees differ too: 0.95% for BTRN and 1.00% for YCS.

Which has better risk-adjusted returns?

YCS currently has the higher Sharpe Ratio (1.86 vs -0.84), 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.