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CVY vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CVY vs. YCS

Last updated Jun 4, 2026

CVY (Invesco Zacks Multi-Asset Income ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - CVY is a Diversified Portfolio fund tracking the Zacks Multi-Asset Income Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, CVY returned 8.41%/yr vs 12.34%/yr for YCS. At a 0.14 correlation, their price movements are largely independent. CVY charges 1.21%/yr vs 1.00%/yr for YCS.

Performance

CVY vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Zacks Multi-Asset Income ETF (CVY) 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, CVY achieves a 7.59% return, which is significantly higher than YCS's 7.17% return. Over the past 10 years, CVY has underperformed YCS with an annualized return of 8.41%, while YCS has yielded a comparatively higher 12.34% annualized return.

CVY

1D
-1.25%
1M
0.78%
YTD
7.59%
6M
8.13%
1Y
17.25%
3Y*
15.33%
5Y*
7.04%
10Y*
8.41%

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)

CVY vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CVY
Invesco Zacks Multi-Asset Income ETF		7.59%11.00%10.28%17.87%-9.27%25.31%-10.56%25.97%-10.77%15.91%
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 CVY and YCS is -0.14, 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

-0.14

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

-0.10

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

-0.06

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

0.08

Correlation (All Time)
Calculated using the full available price history since Nov 26, 2008

0.14

The correlation between CVY and YCS shifts across timeframes, from -0.14 (1 year) to 0.14 (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.

Invesco Zacks Multi-Asset Income ETF

ProShares UltraShort Yen

Often compared with CVY:
CVY vs. QQQCVY vs. VYMCVY vs. SPYCVY vs. VOOCVY vs. VTICVY vs. VGTCVY vs. IWY
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

CVY vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CVY
CVY Risk / Return Rank: 4646
Overall Rank
CVY Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
CVY Sortino Ratio Rank: 4646
Sortino Ratio Rank
CVY Omega Ratio Rank: 4444
Omega Ratio Rank
CVY Calmar Ratio Rank: 4747
Calmar Ratio Rank
CVY Martin Ratio Rank: 4747
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.

CVY vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Zacks Multi-Asset Income ETF (CVY) 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.

CVYYCSDifference
Sharpe ratioReturn per unit of total volatility
1.58
1.92

-0.34

Sortino ratioReturn per unit of downside risk
2.31
2.44

-0.13

Omega ratioGain probability vs. loss probability

1.28

1.35

-0.07

Calmar ratioReturn relative to maximum drawdown

2.33

3.97

-1.64

Martin ratioReturn relative to average drawdown

7.82

12.40

-4.58

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

CVY vs. YCS - Sharpe Ratio Comparison

The current CVY Sharpe Ratio is 1.58, which is comparable to the YCS Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of CVY 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

CVYYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.58

1.92

-0.34

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.44

1.12

-0.69

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.43

0.65

-0.22

Sharpe Ratio (All Time)

Calculated using the full available price history

0.27

0.33

-0.06

Drawdowns

CVY vs. YCS - Drawdown Comparison

The maximum CVY drawdown since its inception was -66.86%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for CVY and YCS.

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Drawdown Indicators

CVYYCSDifference

Max Drawdown

Largest peak-to-trough decline

-66.86%

-49.56%

-17.30%

Max Drawdown (1Y)

Largest decline over 1 year

-7.43%

-8.30%

+0.87%

Max Drawdown (3Y)

Largest decline over 3 years

-16.79%

-23.05%

+6.26%

Max Drawdown (5Y)

Largest decline over 5 years

-21.58%

-27.32%

+5.74%

Max Drawdown (10Y)

Largest decline over 10 years

-50.47%

-27.32%

-23.15%

Current Drawdown

Current decline from peak

-1.28%

0.00%

-1.28%

Average Drawdown

Average peak-to-trough decline

-10.41%

-19.93%

+9.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.21%

2.66%

-0.45%

Volatility

CVY vs. YCS - Volatility Comparison

Invesco Zacks Multi-Asset Income ETF (CVY) and ProShares UltraShort Yen (YCS) have volatilities of 2.87% 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

CVYYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.87%

2.75%

+0.12%

Volatility (6M)

Calculated over the trailing 6-month period

7.81%

12.32%

-4.51%

Volatility (1Y)

Calculated over the trailing 1-year period

11.00%

17.27%

-6.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.20%

21.10%

-4.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.56%

19.01%

+0.55%

CVY vs. YCS - Expense Ratio Comparison

CVY has a 1.21% expense ratio, which is higher than YCS's 1.00% expense ratio.

Dividends

CVY vs. YCS - Dividend Comparison

CVY's dividend yield for the trailing twelve months is around 3.75%, while YCS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CVY
Invesco Zacks Multi-Asset Income ETF		3.75%3.99%4.07%4.41%5.18%2.37%3.40%3.22%4.44%3.94%4.50%5.89%
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

CVY and YCS have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CVY has higher volatility (2.87%) compared to YCS (2.75%). In terms of maximum drawdown, CVY dropped -66.86% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.34% vs 8.41% for CVY. On fees, YCS is cheaper at 1.00% per year. On volatility, YCS has been the lower-risk option at 2.75%. 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 8.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

YCS is cheaper with a 1.00% expense ratio, compared with 1.21% for CVY.

CVY has the higher dividend yield at 3.75%, compared with 0.00% for YCS.

CVY is categorized as Diversified Portfolio, while YCS is Leveraged Currency. CVY tracks Zacks Multi-Asset Income Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 1.21% for CVY and 1.00% for YCS.

YCS currently has the higher Sharpe Ratio (1.92 vs 1.58), 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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