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CDL vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CDL vs. YCS

Last updated Jun 4, 2026

CDL (VictoryShares US Large Cap High Dividend Volatility Wtd ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - CDL is a Large Cap Value Equities fund tracking the Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, CDL returned 10.83%/yr vs 12.34%/yr for YCS. At a 0.09 correlation, their price movements are largely independent. CDL charges 0.35%/yr vs 1.00%/yr for YCS.

Performance

CDL vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CDL achieves a 10.43% return, which is significantly higher than YCS's 7.17% return. Over the past 10 years, CDL has underperformed YCS with an annualized return of 10.83%, while YCS has yielded a comparatively higher 12.34% annualized return.

CDL

1D
-0.61%
1M
-0.38%
YTD
10.43%
6M
10.31%
1Y
18.04%
3Y*
14.68%
5Y*
8.68%
10Y*
10.83%

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)

CDL vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CDL
VictoryShares US Large Cap High Dividend Volatility Wtd ETF		10.43%9.04%15.58%3.03%-0.45%33.42%-3.35%26.38%-5.86%16.29%
YCS
ProShares UltraShort Yen		7.17%9.04%35.41%28.70%29.09%22.38%-11.18%3.37%-1.49%-6.57%

Correlation

The correlation between CDL and YCS is -0.22, 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

-0.22

Correlation (3Y)
Calculated over the trailing 3-year period

-0.12

Correlation (5Y)
Calculated over the trailing 5-year period

-0.08

Correlation (10Y)
Calculated over the trailing 10-year period

0.07

Correlation (All Time)
Calculated using the full available price history since Jul 9, 2015

0.09

The correlation between CDL and YCS shifts across timeframes, from -0.22 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VictoryShares US Large Cap High Dividend Volatility Wtd ETF

ProShares UltraShort Yen

Often compared with CDL:
CDL vs. SCHDCDL vs. DHSCDL vs. SPLVCDL vs. SDOGCDL vs. SPYCDL vs. VYMCDL vs. JEPIX
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

CDL vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CDL
CDL Risk / Return Rank: 5858
Overall Rank
CDL Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
CDL Sortino Ratio Rank: 5858
Sortino Ratio Rank
CDL Omega Ratio Rank: 5050
Omega Ratio Rank
CDL Calmar Ratio Rank: 6464
Calmar Ratio Rank
CDL Martin Ratio Rank: 6363
Martin Ratio Rank
YCS
YCS Risk / Return Rank: 6161
Overall Rank
YCS Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
YCS Sortino Ratio Rank: 4949
Sortino Ratio Rank
YCS Omega Ratio Rank: 5656
Omega Ratio Rank
YCS Calmar Ratio Rank: 7878
Calmar Ratio Rank
YCS Martin Ratio Rank: 6767
Martin Ratio Rank
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.

CDL vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) 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.

CDLYCSDifference
Sharpe ratioReturn per unit of total volatility
1.86
1.92

-0.06

Sortino ratioReturn per unit of downside risk
2.77
2.44

+0.33

Omega ratioGain probability vs. loss probability

1.32

1.35

-0.03

Calmar ratioReturn relative to maximum drawdown

3.20

3.97

-0.77

Martin ratioReturn relative to average drawdown

11.35

12.40

-1.04

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CDL vs. YCS - Sharpe Ratio Comparison

The current CDL Sharpe Ratio is 1.86, which is comparable to the YCS Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of CDL 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.

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Sharpe Ratios by Period

CDLYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.86

1.92

-0.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.63

1.12

-0.49

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

0.65

-0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.65

0.33

+0.32

Drawdowns

CDL vs. YCS - Drawdown Comparison

The maximum CDL drawdown since its inception was -41.03%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for CDL and YCS.

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Drawdown Indicators

CDLYCSDifference

Max Drawdown

Largest peak-to-trough decline

-41.03%

-49.56%

+8.53%

Max Drawdown (1Y)

Largest decline over 1 year

-5.66%

-8.30%

+2.64%

Max Drawdown (3Y)

Largest decline over 3 years

-12.87%

-23.05%

+10.18%

Max Drawdown (5Y)

Largest decline over 5 years

-17.28%

-27.32%

+10.04%

Max Drawdown (10Y)

Largest decline over 10 years

-41.03%

-27.32%

-13.71%

Current Drawdown

Current decline from peak

-2.19%

0.00%

-2.19%

Average Drawdown

Average peak-to-trough decline

-4.35%

-19.93%

+15.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.59%

2.66%

-1.07%

Volatility

CDL vs. YCS - Volatility Comparison

VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) and ProShares UltraShort Yen (YCS) have volatilities of 2.66% and 2.75%, 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.

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Volatility by Period

CDLYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.66%

2.75%

-0.09%

Volatility (6M)

Calculated over the trailing 6-month period

6.86%

12.32%

-5.46%

Volatility (1Y)

Calculated over the trailing 1-year period

9.75%

17.27%

-7.52%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.85%

21.10%

-7.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.04%

19.01%

-1.97%

CDL vs. YCS - Expense Ratio Comparison

CDL has a 0.35% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

CDL vs. YCS - Dividend Comparison

CDL's dividend yield for the trailing twelve months is around 3.17%, while YCS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CDL
VictoryShares US Large Cap High Dividend Volatility Wtd ETF		3.17%3.33%3.27%3.61%3.31%2.60%3.32%3.04%3.32%2.87%2.97%1.28%
YCS
ProShares UltraShort Yen		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

CDL and YCS have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

YCS has higher volatility (2.75%) compared to CDL (2.66%). In terms of maximum drawdown, CDL dropped -41.03% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.34% vs 10.83% for CDL. On fees, CDL is cheaper at 0.35% per year. Their volatility is very similar. 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 12.34% return vs 10.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

CDL is cheaper with a 0.35% expense ratio, compared with 1.00% for YCS.

CDL has the higher dividend yield at 3.17%, compared with 0.00% for YCS.

CDL is categorized as Large Cap Value Equities, while YCS is Leveraged Currency. CDL tracks Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Crestview and ProShares. Their fees differ too: 0.35% for CDL and 1.00% for YCS.

YCS currently has the higher Sharpe Ratio (1.92 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.

Portfolio Optimizer

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