CNQQ vs. YCS

Last updated Jun 5, 2026

CNQQ (Rayliant-ChinaAMC Transformative China Tech ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - CNQQ is a China Equities fund tracking the Solactive ChinaAMC Transformative China Tech, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. At a correlation of -0.20, they often move in opposite directions. CNQQ charges 0.75%/yr vs 1.00%/yr for YCS.

Performance

CNQQ vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ) 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, CNQQ achieves a 12.03% return, which is significantly higher than YCS's 7.17% return.

CNQQ

• 1D: 0.38%
• 1M: 7.11%
• YTD: 12.03%
• 6M: 12.44%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

YCS

• 1D: 0.00%
• 1M: 3.39%
• YTD: 7.17%
• 6M: 10.02%
• 1Y: 34.99%
• 3Y*: 20.03%
• 5Y*: 23.54%
• 10Y*: 12.16%

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

CNQQ vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF	12.03%	-5.96%
YCS ProShares UltraShort Yen	7.17%	12.01%

Correlation

The correlation between CNQQ and YCS is -0.20, 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 Sep 29, 2025	-0.20

Return for Risk

CNQQ 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: 67
YCS Sharpe Ratio Rank: 62
YCS Sortino Ratio Rank: 55
YCS Omega Ratio Rank: 63
YCS Calmar Ratio Rank: 82
YCS Martin Ratio Rank: 72

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.

CNQQ vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ) 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

	CNQQ	YCS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.06	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.12	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.33	0.00

Drawdowns

CNQQ vs. YCS - Drawdown Comparison

The maximum CNQQ drawdown since its inception was -17.82%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for CNQQ and YCS.

Drawdown Indicators

	CNQQ	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-17.82%	-49.56%	+31.74%
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	-1.09%	0.00%	-1.09%
Average Drawdown Average peak-to-trough decline	-9.19%	-19.93%	+10.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.65%	—

Volatility

Volatility by Period

	CNQQ	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.31%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.37%	17.18%	+7.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.37%	21.09%	+3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.37%	19.01%	+5.36%

CNQQ vs. YCS - Expense Ratio Comparison

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

Dividends

CNQQ vs. YCS - Dividend Comparison

CNQQ's dividend yield for the trailing twelve months is around 0.23%, while YCS has not paid dividends to shareholders.

Position	TTM	2025
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF	0.23%	0.09%
YCS ProShares UltraShort Yen	0.00%	0.00%

Frequently Asked Questions

Can I hold both CNQQ and YCS in my portfolio?

CNQQ and YCS have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CNQQ or YCS?

On fees, CNQQ is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CNQQ or YCS?

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

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

CNQQ has the higher dividend yield at 0.23%, compared with 0.00% for YCS.

What is the main difference between CNQQ and YCS?

CNQQ is categorized as China Equities, while YCS is Leveraged Currency. CNQQ tracks Solactive ChinaAMC Transformative China Tech, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Rayliant and ProShares. Their fees differ too: 0.75% for CNQQ and 1.00% for YCS.