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DEM vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DEM vs. YCS

Last updated Jun 4, 2026

DEM (WisdomTree Emerging Markets Equity Income Fund) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - DEM is a Emerging Markets Equities fund tracking the WisdomTree Emerging Markets Equity 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, DEM returned 10.45%/yr vs 12.34%/yr for YCS. At a 0.07 correlation, their price movements are largely independent. DEM charges 0.63%/yr vs 1.00%/yr for YCS.

Performance

DEM vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets Equity Income Fund (DEM) 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, DEM achieves a 19.97% return, which is significantly higher than YCS's 7.17% return. Over the past 10 years, DEM has underperformed YCS with an annualized return of 10.45%, while YCS has yielded a comparatively higher 12.34% annualized return.

DEM

1D
-1.19%
1M
6.63%
YTD
19.97%
6M
20.75%
1Y
32.23%
3Y*
19.32%
5Y*
9.57%
10Y*
10.45%

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)

DEM vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DEM
WisdomTree Emerging Markets Equity Income Fund		19.97%21.29%4.46%20.93%-10.43%11.49%-5.84%19.84%-7.69%26.26%
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 DEM and YCS is -0.39, 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

-0.39

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

-0.23

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

-0.20

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

-0.04

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

0.07

The correlation between DEM and YCS shifts across timeframes, from -0.39 (1 year) to 0.07 (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.

WisdomTree Emerging Markets Equity Income Fund

ProShares UltraShort Yen

Often compared with DEM:
DEM vs. DVYEDEM vs. EEMDEM vs. FNDEDEM vs. AVEMDEM vs. DGREDEM vs. FEMKXDEM vs. VXUS
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

DEM vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DEM
DEM Risk / Return Rank: 7474
Overall Rank
DEM Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
DEM Sortino Ratio Rank: 7171
Sortino Ratio Rank
DEM Omega Ratio Rank: 7171
Omega Ratio Rank
DEM Calmar Ratio Rank: 7979
Calmar Ratio Rank
DEM Martin Ratio Rank: 7575
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.

DEM vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Equity Income Fund (DEM) 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.

DEMYCSDifference
Sharpe ratioReturn per unit of total volatility
2.38
1.92

+0.46

Sortino ratioReturn per unit of downside risk
3.28
2.44

+0.84

Omega ratioGain probability vs. loss probability

1.43

1.35

+0.08

Calmar ratioReturn relative to maximum drawdown

4.10

3.97

+0.13

Martin ratioReturn relative to average drawdown

14.52

12.40

+2.13

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

DEM vs. YCS - Sharpe Ratio Comparison

The current DEM Sharpe Ratio is 2.38, which is comparable to the YCS Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of DEM 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

DEMYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.38

1.92

+0.46

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.63

1.12

-0.49

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.58

0.65

-0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.22

0.33

-0.11

Drawdowns

DEM vs. YCS - Drawdown Comparison

The maximum DEM drawdown since its inception was -51.85%, roughly equal to the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for DEM and YCS.

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Drawdown Indicators

DEMYCSDifference

Max Drawdown

Largest peak-to-trough decline

-51.85%

-49.56%

-2.29%

Max Drawdown (1Y)

Largest decline over 1 year

-7.89%

-8.30%

+0.41%

Max Drawdown (3Y)

Largest decline over 3 years

-15.64%

-23.05%

+7.41%

Max Drawdown (5Y)

Largest decline over 5 years

-27.18%

-27.32%

+0.14%

Max Drawdown (10Y)

Largest decline over 10 years

-37.79%

-27.32%

-10.47%

Current Drawdown

Current decline from peak

-1.19%

0.00%

-1.19%

Average Drawdown

Average peak-to-trough decline

-12.90%

-19.93%

+7.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.22%

2.66%

-0.44%

Volatility

DEM vs. YCS - Volatility Comparison

WisdomTree Emerging Markets Equity Income Fund (DEM) has a higher volatility of 5.64% compared to ProShares UltraShort Yen (YCS) at 2.75%. This indicates that DEM'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

DEMYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.64%

2.75%

+2.89%

Volatility (6M)

Calculated over the trailing 6-month period

11.33%

12.32%

-0.99%

Volatility (1Y)

Calculated over the trailing 1-year period

13.59%

17.27%

-3.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.33%

21.10%

-5.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.96%

19.01%

-1.05%

DEM vs. YCS - Expense Ratio Comparison

DEM has a 0.63% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

DEM vs. YCS - Dividend Comparison

DEM's dividend yield for the trailing twelve months is around 3.76%, while YCS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
DEM
WisdomTree Emerging Markets Equity Income Fund		3.76%4.88%5.24%5.49%8.62%5.87%4.21%4.78%4.47%3.67%3.63%5.21%
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

DEM and YCS have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DEM has higher volatility (5.64%) compared to YCS (2.75%). In terms of maximum drawdown, DEM dropped -51.85% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.34% vs 10.45% for DEM. On fees, DEM is cheaper at 0.63% 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 10.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DEM is cheaper with a 0.63% expense ratio, compared with 1.00% for YCS.

DEM has the higher dividend yield at 3.76%, compared with 0.00% for YCS.

DEM is categorized as Emerging Markets Equities, while YCS is Leveraged Currency. DEM tracks WisdomTree Emerging Markets Equity income Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: WisdomTree and ProShares. Their fees differ too: 0.63% for DEM and 1.00% for YCS.

DEM currently has the higher Sharpe Ratio (2.38 vs 1.92), 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

Find the right allocation for DEM and YCS

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