CLOU vs. YCS

Last updated Jun 24, 2026

CLOU (Global X Cloud Computing ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - CLOU is a Technology Equities fund tracking the Indxx Global Cloud Computing Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 5 years, CLOU returned -5.18%/yr vs 23.52%/yr for YCS. At a correlation of -0.01, they often move in opposite directions. CLOU charges 0.68%/yr vs 1.00%/yr for YCS.

Performance

CLOU vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Cloud Computing ETF (CLOU) 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, CLOU achieves a -4.95% return, which is significantly lower than YCS's 9.63% return.

CLOU

• 1D: 0.42%
• 1M: -5.99%
• YTD: -4.95%
• 6M: -5.99%
• 1Y: -5.37%
• 3Y*: 3.57%
• 5Y*: -5.18%
• 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)

CLOU vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CLOU Global X Cloud Computing ETF	-4.95%	-5.59%	5.74%	41.36%	-39.56%	-3.27%	77.18%	4.06%
YCS ProShares UltraShort Yen	9.63%	9.04%	35.41%	28.70%	29.09%	22.38%	-11.18%	-2.37%

Correlation

The correlation between CLOU and YCS is -0.07, 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	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Apr 16, 2019	-0.01

Return for Risk

CLOU vs. YCS — Risk / Return Rank

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

CLOU

CLOU Risk / Return Rank: 7
CLOU Sharpe Ratio Rank: 7
CLOU Sortino Ratio Rank: 7
CLOU Omega Ratio Rank: 7
CLOU Calmar Ratio Rank: 7
CLOU Martin Ratio Rank: 7

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.

CLOU vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Cloud Computing ETF (CLOU) 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.

	CLOU	YCS	Difference
Sharpe ratio: Return per unit of total volatility	-0.18	1.86	-2.04
Sortino ratio: Return per unit of downside risk	-0.05	2.36	-2.41
Omega ratio: Gain probability vs. loss probability	0.99	1.34	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.20	3.78	-3.98
Martin ratio: Return relative to average drawdown	-0.47	11.93	-12.40

CLOU vs. YCS - Sharpe Ratio Comparison

The current CLOU Sharpe Ratio is -0.18, which is lower than the YCS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of CLOU 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

CLOU vs. YCS - Drawdown Comparison

The maximum CLOU drawdown since its inception was -53.74%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for CLOU and YCS.

Drawdown Indicators

	CLOU	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-53.74%	-49.56%	-4.18%
Max Drawdown (1Y) Largest decline over 1 year	-27.24%	-8.30%	-18.94%
Max Drawdown (3Y) Largest decline over 3 years	-33.18%	-23.05%	-10.13%
Max Drawdown (5Y) Largest decline over 5 years	-53.74%	-27.32%	-26.42%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.32%	—
Current Drawdown Current decline from peak	-31.93%	-0.14%	-31.79%
Average Drawdown Average peak-to-trough decline	-24.43%	-19.87%	-4.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.46%	2.65%	+8.81%

Volatility

CLOU vs. YCS - Volatility Comparison

Global X Cloud Computing ETF (CLOU) has a higher volatility of 13.72% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that CLOU'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

	CLOU	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.72%	2.25%	+11.47%
Volatility (6M) Calculated over the trailing 6-month period	25.33%	12.19%	+13.14%
Volatility (1Y) Calculated over the trailing 1-year period	29.89%	16.93%	+12.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.65%	21.10%	+9.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.76%	18.82%	+11.94%

CLOU vs. YCS - Expense Ratio Comparison

CLOU has a 0.68% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

CLOU vs. YCS - Dividend Comparison

Neither CLOU nor YCS has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
CLOU Global X Cloud Computing ETF	0.00%	0.00%	0.00%	0.00%	0.00%	1.76%	0.00%	0.05%
YCS ProShares UltraShort Yen	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CLOU and YCS in my portfolio?

CLOU and YCS have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLOU or YCS?

CLOU has higher volatility (13.72%) compared to YCS (2.25%). In terms of maximum drawdown, CLOU dropped -53.74% vs YCS's -49.56%.

Which ETF is better, CLOU or YCS?

On 5-year performance, YCS leads with 23.52% vs -5.18% for CLOU. On fees, CLOU is cheaper at 0.68% 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, CLOU or YCS?

Over the 5-year period, YCS has performed better with a 23.52% return vs -5.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLOU or YCS?

CLOU is cheaper with a 0.68% expense ratio, compared with 1.00% for YCS.

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

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

What is the main difference between CLOU and YCS?

CLOU is categorized as Technology Equities, while YCS is Leveraged Currency. CLOU tracks Indxx Global Cloud Computing Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Global X and ProShares. Their fees differ too: 0.68% for CLOU and 1.00% for YCS.

Which has better risk-adjusted returns?

YCS currently has the higher Sharpe Ratio (1.86 vs -0.18), 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.