CAM vs. YCS

Last updated Jun 4, 2026

CAM (AB California Intermediate Municipal ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - CAM is a Municipal Bonds fund actively managed by AllianceBernstein, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). CAM is actively managed, while YCS is passively managed. At a correlation of -0.31, they often move in opposite directions. CAM charges 0.27%/yr vs 1.00%/yr for YCS.

Performance

CAM vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB California Intermediate Municipal ETF (CAM) 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, CAM achieves a 1.29% return, which is significantly lower than YCS's 7.17% return.

CAM

• 1D: 0.00%
• 1M: 0.60%
• YTD: 1.29%
• 6M: 1.75%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

YCS

• 1D: 0.17%
• 1M: 4.42%
• YTD: 7.17%
• 6M: 10.05%
• 1Y: 32.82%
• 3Y*: 19.84%
• 5Y*: 23.54%
• 10Y*: 12.34%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CAM vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025
CAM AB California Intermediate Municipal ETF	1.29%	1.17%
YCS ProShares UltraShort Yen	7.17%	10.82%

Correlation

The correlation between CAM and YCS is -0.31, 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 (All Time) Calculated using the full available price history since Oct 7, 2025	-0.31

Return for Risk

CAM vs. YCS — Risk / Return Rank

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

YCS

YCS Risk / Return Rank: 61
YCS Sharpe Ratio Rank: 56
YCS Sortino Ratio Rank: 49
YCS Omega Ratio Rank: 56
YCS Calmar Ratio Rank: 78
YCS Martin Ratio Rank: 67

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.

CAM vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB California Intermediate Municipal ETF (CAM) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CAM	YCS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.92	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.12	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.80	0.33	+1.47

Drawdowns

CAM vs. YCS - Drawdown Comparison

The maximum CAM drawdown since its inception was -2.19%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for CAM and YCS.

Drawdown Indicators

	CAM	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-2.19%	-49.56%	+47.37%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.30%	—
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	-0.58%	0.00%	-0.58%
Average Drawdown Average peak-to-trough decline	-0.51%	-19.93%	+19.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.66%	—

Volatility

Volatility by Period

	CAM	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.12%	17.27%	-15.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.12%	21.10%	-18.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.12%	19.01%	-16.89%

CAM vs. YCS - Expense Ratio Comparison

CAM has a 0.27% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

CAM vs. YCS - Dividend Comparison

CAM's dividend yield for the trailing twelve months is around 2.25%, while YCS has not paid dividends to shareholders.

Position	TTM	2025
CAM AB California Intermediate Municipal ETF	2.25%	0.87%
YCS ProShares UltraShort Yen	0.00%	0.00%

Frequently Asked Questions

Can I hold both CAM and YCS in my portfolio?

CAM and YCS have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CAM or YCS?

On fees, CAM is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAM or YCS?

CAM is cheaper with a 0.27% expense ratio, compared with 1.00% for YCS.

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

CAM has the higher dividend yield at 2.25%, compared with 0.00% for YCS.

What is the main difference between CAM and YCS?

CAM is categorized as Municipal Bonds, while YCS is Leveraged Currency. They also come from different issuers: AllianceBernstein and ProShares. Their fees differ too: 0.27% for CAM and 1.00% for YCS.