DBEF vs. YCS
DBEF (Xtrackers MSCI EAFE Hedged Equity ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - DBEF is a Foreign Large Cap Equities fund tracking the MSCI EAFE US Dollar Hedged Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, DBEF returned 13.17%/yr vs 13.63%/yr for YCS. At a 0.29 correlation, their price movements are largely independent. DBEF charges 0.35%/yr vs 1.00%/yr for YCS.
Performance
DBEF vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, DBEF achieves a 14.18% return, which is significantly higher than YCS's 9.78% return. Both investments have delivered pretty close results over the past 10 years, with DBEF having a 13.17% annualized return and YCS not far ahead at 13.63%.
DBEF
- 1D
- 0.42%
- 1M
- 4.05%
- YTD
- 14.18%
- 6M
- 14.60%
- 1Y
- 30.93%
- 3Y*
- 19.53%
- 5Y*
- 13.93%
- 10Y*
- 13.17%
YCS
- 1D
- 0.40%
- 1M
- 3.71%
- YTD
- 9.78%
- 6M
- 9.63%
- 1Y
- 31.36%
- 3Y*
- 18.43%
- 5Y*
- 23.50%
- 10Y*
- 13.63%
DBEF vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBEF Xtrackers MSCI EAFE Hedged Equity ETF | 14.18% | 23.16% | 13.40% | 20.15% | -5.13% | 19.60% | 2.03% | 24.94% | -9.52% | 16.74% |
YCS ProShares UltraShort Yen | 9.78% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between DBEF and YCS is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jun 9, 2011 | 0.29 |
The correlation between DBEF and YCS shifts across timeframes, from -0.17 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DBEF vs. YCS — Risk / Return Rank
DBEF
YCS
DBEF vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) 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.
| DBEF | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.35 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 3.79 | -0.49 |
| Martin ratioReturn relative to average drawdown | 13.95 | 11.86 | +2.10 |
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Drawdowns
DBEF vs. YCS - Drawdown Comparison
The maximum DBEF drawdown since its inception was -32.46%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for DBEF and YCS.
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Drawdown Indicators
| DBEF | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.46% | -49.56% | +17.10% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -8.30% | -1.11% |
Max Drawdown (3Y)Largest decline over 3 years | -14.62% | -23.05% | +8.43% |
Max Drawdown (5Y)Largest decline over 5 years | -14.95% | -27.32% | +12.37% |
Max Drawdown (10Y)Largest decline over 10 years | -32.46% | -27.32% | -5.14% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.72% | -19.88% | +15.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 2.65% | -0.43% |
Volatility
DBEF vs. YCS - Volatility Comparison
Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) has a higher volatility of 4.18% compared to ProShares UltraShort Yen (YCS) at 2.22%. This indicates that DBEF'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.
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Volatility by Period
| DBEF | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.18% | 2.22% | +1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 10.78% | 12.19% | -1.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.84% | 16.96% | -4.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.83% | 21.10% | -7.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.77% | 18.96% | -3.19% |
DBEF vs. YCS - Expense Ratio Comparison
DBEF has a 0.35% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
DBEF vs. YCS - Dividend Comparison
DBEF's dividend yield for the trailing twelve months is around 2.28%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBEF Xtrackers MSCI EAFE Hedged Equity ETF | 2.28% | 5.55% | 1.29% | 4.46% | 15.85% | 2.28% | 2.41% | 3.03% | 3.22% | 2.98% | 2.55% | 3.70% |
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
DBEF and YCS have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBEF has higher volatility (4.18%) compared to YCS (2.22%). In terms of maximum drawdown, DBEF dropped -32.46% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.63% vs 13.17% for DBEF. On fees, DBEF is cheaper at 0.35% per year. On volatility, YCS has been the lower-risk option at 2.22%. 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 13.63% return vs 13.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBEF is cheaper with a 0.35% expense ratio, compared with 1.00% for YCS.
DBEF has the higher dividend yield at 2.28%, compared with 0.00% for YCS.
DBEF is categorized as Foreign Large Cap Equities, while YCS is Leveraged Currency. DBEF tracks MSCI EAFE US Dollar Hedged Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: DWS and ProShares. Their fees differ too: 0.35% for DBEF and 1.00% for YCS.
DBEF currently has the higher Sharpe Ratio (2.42 vs 1.86), 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.
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