CANC vs. YCS

Last updated Jun 24, 2026

CANC (Tema Oncology ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - CANC is a Health & Biotech Equities fund actively managed by Tema, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). CANC is actively managed, while YCS is passively managed. Over the past 3 years, CANC returned 132.65%/yr vs 18.37%/yr for YCS. At a correlation of -0.07, they often move in opposite directions. CANC charges 0.75%/yr vs 1.00%/yr for YCS.

Performance

CANC vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema Oncology ETF (CANC) 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, CANC achieves a 11.49% return, which is significantly higher than YCS's 9.63% return.

CANC

• 1D: 1.64%
• 1M: 1.56%
• YTD: 11.49%
• 6M: 9.19%
• 1Y: 56.88%
• 3Y*: 132.65%
• 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)

CANC vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CANC Tema Oncology ETF	11.49%	42.92%	-5.37%	510.51%	-85.34%	-55.35%
YCS ProShares UltraShort Yen	9.63%	9.04%	35.41%	28.70%	29.09%	5.21%

Correlation

The correlation between CANC and YCS is -0.23, 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	-0.23
Correlation (3Y) Calculated over the trailing 3-year period	-0.16
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	-0.07

The correlation between CANC and YCS shifts across timeframes, from -0.23 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CANC vs. YCS — Risk / Return Rank

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

CANC

CANC Risk / Return Rank: 85
CANC Sharpe Ratio Rank: 85
CANC Sortino Ratio Rank: 86
CANC Omega Ratio Rank: 74
CANC Calmar Ratio Rank: 93
CANC Martin Ratio Rank: 85

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.

CANC vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema Oncology ETF (CANC) 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.

	CANC	YCS	Difference
Sharpe ratio: Return per unit of total volatility	2.52	1.86	+0.66
Sortino ratio: Return per unit of downside risk	3.54	2.36	+1.18
Omega ratio: Gain probability vs. loss probability	1.40	1.34	+0.06
Calmar ratio: Return relative to maximum drawdown	6.15	3.78	+2.36
Martin ratio: Return relative to average drawdown	16.71	11.93	+4.78

CANC vs. YCS - Sharpe Ratio Comparison

The current CANC Sharpe Ratio is 2.52, which is higher than the YCS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of CANC 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

CANC vs. YCS - Drawdown Comparison

The maximum CANC drawdown since its inception was -97.53%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for CANC and YCS.

Drawdown Indicators

	CANC	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-97.53%	-49.56%	-47.97%
Max Drawdown (1Y) Largest decline over 1 year	-9.30%	-8.30%	-1.00%
Max Drawdown (3Y) Largest decline over 3 years	-30.27%	-23.05%	-7.22%
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	-53.78%	-0.14%	-53.64%
Average Drawdown Average peak-to-trough decline	-72.94%	-19.87%	-53.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	2.65%	+0.76%

Volatility

CANC vs. YCS - Volatility Comparison

Tema Oncology ETF (CANC) has a higher volatility of 6.60% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that CANC'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

	CANC	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.60%	2.25%	+4.35%
Volatility (6M) Calculated over the trailing 6-month period	16.94%	12.19%	+4.75%
Volatility (1Y) Calculated over the trailing 1-year period	22.72%	16.93%	+5.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	278.65%	21.10%	+257.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	278.65%	18.82%	+259.83%

CANC vs. YCS - Expense Ratio Comparison

CANC has a 0.75% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

CANC vs. YCS - Dividend Comparison

CANC's dividend yield for the trailing twelve months is around 0.05%, while YCS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
CANC Tema Oncology ETF	0.05%	0.06%	3.00%	0.56%
YCS ProShares UltraShort Yen	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CANC and YCS in my portfolio?

CANC and YCS have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CANC or YCS?

CANC has higher volatility (6.60%) compared to YCS (2.25%). In terms of maximum drawdown, CANC dropped -97.53% vs YCS's -49.56%.

Which ETF is better, CANC or YCS?

On 3-year performance, CANC leads with 132.65% vs 18.37% for YCS. On fees, CANC is cheaper at 0.75% 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, CANC or YCS?

Over the 3-year period, CANC has performed better with a 132.65% return vs 18.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CANC or YCS?

CANC is cheaper with a 0.75% expense ratio, compared with 1.00% for YCS.

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

CANC has the higher dividend yield at 0.05%, compared with 0.00% for YCS.

What is the main difference between CANC and YCS?

CANC is categorized as Health & Biotech Equities, while YCS is Leveraged Currency. They also come from different issuers: Tema and ProShares. Their fees differ too: 0.75% for CANC and 1.00% for YCS.

Which has better risk-adjusted returns?

CANC currently has the higher Sharpe Ratio (2.52 vs 1.86), 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.