CRDT vs. YCS

Last updated Aug 2, 2026

CRDT (Simplify Opportunistic Income ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - CRDT is a Multisector Bonds fund actively managed by Simplify, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). CRDT is actively managed, while YCS is passively managed. Over the past 3 years, CRDT returned 3.93%/yr vs 17.34%/yr for YCS. Their -0.19 correlation means they have often moved in opposite directions in the past. CRDT charges 0.50%/yr vs 1.00%/yr for YCS.

Performance

CRDT vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Opportunistic Income ETF (CRDT) 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, CRDT achieves a 2.81% return, which is significantly lower than YCS's 7.29% return.

CRDT

• 1D: -0.26%
• 1M: 0.07%
• 6M: 2.42%
• YTD: 2.81%
• 1Y: 2.60%
• 3Y*: 3.93%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.03%

YCS

• 1D: -0.84%
• 1M: -2.27%
• 6M: 9.33%
• YTD: 7.29%
• 1Y: 25.05%
• 3Y*: 17.34%
• 5Y*: 23.55%
• 10Y*: 13.76%
• ALL TIME*: 6.44%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CRDT Simplify Opportunistic Income ETF	$95.00K	$84.72K	$129.03K
YCS ProShares UltraShort Yen	$1.53M	$2.43M	$1.42M

CRDT vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CRDT Simplify Opportunistic Income ETF	2.81%	-0.67%	5.19%	5.20%
YCS ProShares UltraShort Yen	7.29%	9.04%	35.41%	2.82%

Correlation

The correlation between CRDT and YCS is -0.26, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.26
Correlation (3Y) Balances recent behavior with more history.	-0.20
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023	-0.19

Return for Risk

CRDT vs. YCS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CRDT

CRDT Risk / Return Rank: 19
CRDT Sharpe Ratio Rank: 19
CRDT Sortino Ratio Rank: 17
CRDT Omega Ratio Rank: 18
CRDT Calmar Ratio Rank: 19
CRDT Martin Ratio Rank: 22

YCS

YCS Risk / Return Rank: 56
YCS Sharpe Ratio Rank: 47
YCS Sortino Ratio Rank: 41
YCS Omega Ratio Rank: 52
YCS Calmar Ratio Rank: 68
YCS Martin Ratio Rank: 73

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CRDT vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Opportunistic Income ETF (CRDT) 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.

	CRDT	YCS	Difference
Sharpe ratio: Return per unit of total volatility	0.35	1.16	-0.82
Sortino ratio: Return per unit of downside risk	0.55	1.52	-0.98
Omega ratio: Gain probability vs. loss probability	1.07	1.23	-0.16
Calmar ratio: Return relative to maximum drawdown	0.47	2.35	-1.88
Martin ratio: Return relative to average drawdown	1.56	8.93	-7.37

CRDT vs. YCS - Sharpe Ratio Comparison

The current CRDT Sharpe Ratio is 0.35, which is lower than the YCS Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of CRDT 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

CRDT vs. YCS - Drawdown Comparison

The maximum CRDT drawdown since its inception was -9.80%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for CRDT and YCS.

Drawdown Indicators

	CRDT	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-9.80%	-49.56%	+39.76%
Max Drawdown (1Y) Largest decline over 1 year	-7.18%	-8.30%	+1.12%
Max Drawdown (3Y) Largest decline over 3 years	-9.80%	-23.05%	+13.25%
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	-2.43%	-5.68%	+3.25%
Average Drawdown Average peak-to-trough decline	-2.33%	-19.75%	+17.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	2.64%	-0.50%

Volatility

CRDT vs. YCS - Volatility Comparison

The current volatility for Simplify Opportunistic Income ETF (CRDT) is 3.03%, while ProShares UltraShort Yen (YCS) has a volatility of 5.30%. This indicates that CRDT experiences smaller price fluctuations and is considered to be less risky than YCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRDT	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.03%	5.30%	-2.27%
Volatility (6M) Calculated over the trailing 6-month period	8.91%	11.65%	-2.74%
Volatility (1Y) Calculated over the trailing 1-year period	9.63%	16.85%	-7.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.42%	21.16%	-13.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.42%	18.61%	-11.19%

CRDT vs. YCS - Expense Ratio Comparison

CRDT has a 0.50% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

CRDT vs. YCS - Dividend Comparison

CRDT's dividend yield for the trailing twelve months is around 5.99%, while YCS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
CRDT Simplify Opportunistic Income ETF	5.99%	7.04%	7.29%	2.59%
YCS ProShares UltraShort Yen	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CRDT and YCS in my portfolio?

CRDT 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, CRDT or YCS?

YCS has higher volatility (5.30%) compared to CRDT (3.03%). In terms of maximum drawdown, CRDT dropped -9.80% vs YCS's -49.56%.

Which ETF is better, CRDT or YCS?

On 3-year performance, YCS leads with 17.34% vs 3.93% for CRDT. On fees, CRDT is cheaper at 0.50% per year. On volatility, CRDT has been the lower-risk option at 3.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CRDT or YCS?

Over the 3-year period, YCS has performed better with a 17.34% return vs 3.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CRDT or YCS?

CRDT is cheaper with a 0.50% expense ratio, compared with 1.00% for YCS.

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

CRDT has the higher dividend yield at 5.99%, compared with 0.00% for YCS.

What is the main difference between CRDT and YCS?

CRDT is categorized as Multisector Bonds, while YCS is Leveraged Currency. They also come from different issuers: Simplify and ProShares. Their fees differ too: 0.50% for CRDT and 1.00% for YCS.

Which has better risk-adjusted returns?

YCS currently has the higher Sharpe Ratio (1.16 vs 0.35), 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.