BUFM vs. YCS

Last updated Jun 24, 2026

BUFM (AB Moderate Buffer ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - BUFM is a Defined Outcome fund actively managed by AllianceBernstein, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). BUFM is actively managed, while YCS is passively managed. Over the past year, BUFM returned 10.84% vs 31.27% for YCS. At a 0.02 correlation, their price movements are largely independent. BUFM charges 0.69%/yr vs 1.00%/yr for YCS.

Performance

BUFM vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Moderate Buffer ETF (BUFM) 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, BUFM achieves a 2.85% return, which is significantly lower than YCS's 9.63% return.

BUFM

• 1D: -0.62%
• 1M: -0.32%
• YTD: 2.85%
• 6M: 2.08%
• 1Y: 10.84%
• 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)

BUFM vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BUFM AB Moderate Buffer ETF	2.85%	12.94%	-1.10%
YCS ProShares UltraShort Yen	9.63%	9.04%	6.79%

Correlation

The correlation between BUFM and YCS is -0.15, 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	-0.15
Correlation (All Time) Calculated using the full available price history since Dec 10, 2024	0.02

The correlation between BUFM and YCS shifts across timeframes, from -0.15 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BUFM vs. YCS — Risk / Return Rank

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

BUFM

BUFM Risk / Return Rank: 60
BUFM Sharpe Ratio Rank: 60
BUFM Sortino Ratio Rank: 58
BUFM Omega Ratio Rank: 61
BUFM Calmar Ratio Rank: 60
BUFM Martin Ratio Rank: 60

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.

BUFM vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Moderate Buffer ETF (BUFM) 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.

	BUFM	YCS	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.86	-0.05
Sortino ratio: Return per unit of downside risk	2.50	2.36	+0.14
Omega ratio: Gain probability vs. loss probability	1.34	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	2.67	3.78	-1.11
Martin ratio: Return relative to average drawdown	9.73	11.93	-2.20

BUFM vs. YCS - Sharpe Ratio Comparison

The current BUFM Sharpe Ratio is 1.80, which is comparable to the YCS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of BUFM 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

BUFM vs. YCS - Drawdown Comparison

The maximum BUFM drawdown since its inception was -9.43%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for BUFM and YCS.

Drawdown Indicators

	BUFM	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-9.43%	-49.56%	+40.13%
Max Drawdown (1Y) Largest decline over 1 year	-4.07%	-8.30%	+4.23%
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	-1.11%	-0.14%	-0.97%
Average Drawdown Average peak-to-trough decline	-0.98%	-19.87%	+18.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.12%	2.65%	-1.53%

Volatility

BUFM vs. YCS - Volatility Comparison

AB Moderate Buffer ETF (BUFM) and ProShares UltraShort Yen (YCS) have volatilities of 2.20% and 2.25%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFM	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.20%	2.25%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	4.64%	12.19%	-7.55%
Volatility (1Y) Calculated over the trailing 1-year period	6.06%	16.93%	-10.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.41%	21.10%	-11.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.41%	18.82%	-9.41%

BUFM vs. YCS - Expense Ratio Comparison

BUFM has a 0.69% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

BUFM vs. YCS - Dividend Comparison

Neither BUFM nor YCS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BUFM and YCS in my portfolio?

BUFM and YCS have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFM or YCS?

YCS has higher volatility (2.25%) compared to BUFM (2.20%). In terms of maximum drawdown, BUFM dropped -9.43% vs YCS's -49.56%.

Which ETF is better, BUFM or YCS?

On 1-year performance, YCS leads with 31.27% vs 10.84% for BUFM. On fees, BUFM is cheaper at 0.69% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFM or YCS?

Over the 1-year period, YCS has performed better with a 31.27% return vs 10.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFM or YCS?

BUFM is cheaper with a 0.69% expense ratio, compared with 1.00% for YCS.

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

BUFM and YCS have nearly identical dividend yields, around 0.00%.

What is the main difference between BUFM and YCS?

BUFM is categorized as Defined Outcome, while YCS is Leveraged Currency. They also come from different issuers: AllianceBernstein and ProShares. Their fees differ too: 0.69% for BUFM and 1.00% for YCS.

Which has better risk-adjusted returns?

YCS currently has the higher Sharpe Ratio (1.86 vs 1.80), 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.