DLS vs. YCS
DLS (WisdomTree International SmallCap Dividend Fund) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - DLS is a Foreign Small & Mid Cap Equities fund tracking the WisdomTree International SmallCap Dividend Index, while YCS is a Leveraged Currency fund tracking the JPY/USD 4:00 p.m. ET Cross Rate. Both are passively managed. Over the past 10 years, DLS returned 8.02%/yr vs 13.35%/yr for YCS. Their -0.00 correlation means they have often moved in opposite directions in the past. DLS charges 0.58%/yr vs 0.95%/yr for YCS.
Performance
DLS vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, DLS achieves a 10.39% return, which is significantly higher than YCS's 5.40% return. Over the past 10 years, DLS has underperformed YCS with an annualized return of 8.02%, while YCS has yielded a comparatively higher 13.35% annualized return.
DLS
- 1D
- 0.41%
- 1M
- 2.29%
- 6M
- 4.30%
- YTD
- 10.39%
- 1Y
- 19.04%
- 3Y*
- 17.79%
- 5Y*
- 7.44%
- 10Y*
- 8.02%
- ALL TIME*
- 6.53%
YCS
- 1D
- -0.02%
- 1M
- -4.94%
- 6M
- 4.42%
- YTD
- 5.40%
- 1Y
- 22.68%
- 3Y*
- 17.44%
- 5Y*
- 22.89%
- 10Y*
- 13.35%
- ALL TIME*
- 6.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.62M | $1.37M | $1.52M | |
| $2.59M | $2.15M | $1.60M |
DLS vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DLS WisdomTree International SmallCap Dividend Fund | 10.39% | 34.11% | 3.06% | 15.33% | -17.31% | 11.71% | -1.28% | 22.20% | -18.95% | 31.83% |
YCS ProShares UltraShort Yen | 5.40% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between DLS and YCS is -0.42, 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. | -0.42 |
Correlation (3Y) Balances recent behavior with more history. | -0.35 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.30 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.14 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | -0.00 |
Over the past year, the inverse relationship between DLS and YCS has strengthened: their correlation has moved from -0.00 to -0.42, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
DLS vs. YCS — Risk / Return Rank
DLS
YCS
DLS vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree International SmallCap Dividend Fund (DLS) 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.
| DLS | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.27 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 2.69 | -0.95 |
| Martin ratioReturn relative to average drawdown | 5.85 | 9.73 | -3.88 |
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Drawdowns
DLS vs. YCS - Drawdown Comparison
The maximum DLS drawdown since its inception was -63.13%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for DLS and YCS.
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Drawdown Indicators
| DLS | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.13% | -49.56% | -13.57% |
Max Drawdown (1Y)Largest decline over 1 year | -11.04% | -8.48% | -2.56% |
Max Drawdown (3Y)Largest decline over 3 years | -12.69% | -23.05% | +10.36% |
Max Drawdown (5Y)Largest decline over 5 years | -32.22% | -27.32% | -4.90% |
Max Drawdown (10Y)Largest decline over 10 years | -44.77% | -27.32% | -17.45% |
Current DrawdownCurrent decline from peak | 0.00% | -7.34% | +7.34% |
Average DrawdownAverage peak-to-trough decline | -13.56% | -19.75% | +6.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 2.34% | +0.92% |
Volatility
DLS vs. YCS - Volatility Comparison
The current volatility for WisdomTree International SmallCap Dividend Fund (DLS) is 3.96%, while ProShares UltraShort Yen (YCS) has a volatility of 5.95%. This indicates that DLS 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.
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Volatility by Period
| DLS | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.96% | 5.95% | -1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 11.81% | 11.87% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.88% | 16.43% | -2.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.64% | 21.21% | -5.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.38% | 18.61% | -2.23% |
DLS vs. YCS - Expense Ratio Comparison
DLS has a 0.58% expense ratio, which is lower than YCS's 0.95% expense ratio.
Dividends
DLS vs. YCS - Dividend Comparison
DLS's dividend yield for the trailing twelve months is around 3.45%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLS WisdomTree International SmallCap Dividend Fund | 3.45% | 3.87% | 4.56% | 4.29% | 4.96% | 3.29% | 2.50% | 3.37% | 3.66% | 2.79% | 3.29% | 2.72% |
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
DLS and YCS have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCS has higher volatility (5.95%) compared to DLS (3.96%). In terms of maximum drawdown, DLS dropped -63.13% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.35% vs 8.02% for DLS. On fees, DLS is cheaper at 0.58% per year. On volatility, DLS has been the lower-risk option at 3.96%. 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 13.35% return vs 8.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DLS is cheaper with a 0.58% expense ratio, compared with 0.95% for YCS.
DLS has the higher dividend yield at 3.45%, compared with 0.00% for YCS.
DLS is categorized as Foreign Small & Mid Cap Equities, while YCS is Leveraged Currency. DLS tracks WisdomTree International SmallCap Dividend Index, while YCS tracks JPY/USD 4:00 p.m. ET Cross Rate. They also come from different issuers: WisdomTree and ProShares. Their fees differ too: 0.58% for DLS and 0.95% for YCS.
YCS currently has the higher Sharpe Ratio (1.39 vs 1.38), 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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