COPP vs. YCS

Last updated Jun 24, 2026

COPP (Sprott Copper Miners ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - COPP is a Copper fund tracking the Nasdaq Sprott Copper Miners Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past year, COPP returned 83.48% vs 31.27% for YCS. At a correlation of -0.13, they often move in opposite directions. COPP charges 0.65%/yr vs 1.00%/yr for YCS.

Performance

COPP vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Copper Miners ETF (COPP) 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, COPP achieves a 11.86% return, which is significantly higher than YCS's 9.63% return.

COPP

• 1D: -6.21%
• 1M: -1.59%
• YTD: 11.86%
• 6M: 10.91%
• 1Y: 83.48%
• 3Y*: —
• 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)

COPP vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
COPP Sprott Copper Miners ETF	11.86%	74.02%	4.25%
YCS ProShares UltraShort Yen	9.63%	9.04%	17.28%

Correlation

The correlation between COPP and YCS is -0.26, 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	-0.26
Correlation (All Time) Calculated using the full available price history since Mar 6, 2024	-0.13

The correlation between COPP and YCS shifts across timeframes, from -0.26 (1 year) to -0.13 (all time), reflecting how their relationship changes across market environments.

Return for Risk

COPP vs. YCS — Risk / Return Rank

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

COPP

COPP Risk / Return Rank: 54
COPP Sharpe Ratio Rank: 57
COPP Sortino Ratio Rank: 48
COPP Omega Ratio Rank: 49
COPP Calmar Ratio Rank: 61
COPP Martin Ratio Rank: 57

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.

COPP vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Copper Miners ETF (COPP) 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.

	COPP	YCS	Difference
Sharpe ratio: Return per unit of total volatility	1.85	1.86	0.00
Sortino ratio: Return per unit of downside risk	2.30	2.36	-0.06
Omega ratio: Gain probability vs. loss probability	1.30	1.34	-0.05
Calmar ratio: Return relative to maximum drawdown	2.90	3.78	-0.88
Martin ratio: Return relative to average drawdown	9.67	11.93	-2.26

COPP vs. YCS - Sharpe Ratio Comparison

The current COPP Sharpe Ratio is 1.85, which is comparable to the YCS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of COPP 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

COPP vs. YCS - Drawdown Comparison

The maximum COPP drawdown since its inception was -44.37%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for COPP and YCS.

Drawdown Indicators

	COPP	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-44.37%	-49.56%	+5.19%
Max Drawdown (1Y) Largest decline over 1 year	-28.91%	-8.30%	-20.61%
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	-14.79%	-0.14%	-14.65%
Average Drawdown Average peak-to-trough decline	-13.90%	-19.87%	+5.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.66%	2.65%	+6.01%

Volatility

COPP vs. YCS - Volatility Comparison

Sprott Copper Miners ETF (COPP) has a higher volatility of 18.53% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that COPP'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

	COPP	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.53%	2.25%	+16.28%
Volatility (6M) Calculated over the trailing 6-month period	39.30%	12.19%	+27.11%
Volatility (1Y) Calculated over the trailing 1-year period	45.29%	16.93%	+28.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.61%	21.10%	+20.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.61%	18.82%	+22.79%

COPP vs. YCS - Expense Ratio Comparison

COPP has a 0.65% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

COPP vs. YCS - Dividend Comparison

COPP's dividend yield for the trailing twelve months is around 2.12%, while YCS has not paid dividends to shareholders.

Position	TTM	2025	2024
COPP Sprott Copper Miners ETF	2.12%	2.37%	2.59%
YCS ProShares UltraShort Yen	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both COPP and YCS in my portfolio?

COPP and YCS have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COPP or YCS?

COPP has higher volatility (18.53%) compared to YCS (2.25%). In terms of maximum drawdown, COPP dropped -44.37% vs YCS's -49.56%.

Which ETF is better, COPP or YCS?

On 1-year performance, COPP leads with 83.48% vs 31.27% for YCS. On fees, COPP is cheaper at 0.65% 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, COPP or YCS?

Over the 1-year period, COPP has performed better with a 83.48% return vs 31.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPP or YCS?

COPP is cheaper with a 0.65% expense ratio, compared with 1.00% for YCS.

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

COPP has the higher dividend yield at 2.12%, compared with 0.00% for YCS.

What is the main difference between COPP and YCS?

COPP is categorized as Copper, while YCS is Leveraged Currency. COPP tracks Nasdaq Sprott Copper Miners Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Sprott and ProShares. Their fees differ too: 0.65% for COPP and 1.00% for YCS.

Which has better risk-adjusted returns?

YCS currently has the higher Sharpe Ratio (1.86 vs 1.85), 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.