DMAY vs. YCS
DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - DMAY is a Large Cap Blend Equities fund tracking the Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 5 years, DMAY returned 6.98%/yr vs 23.50%/yr for YCS. At a correlation of -0.01, they often move in opposite directions. DMAY charges 0.85%/yr vs 1.00%/yr for YCS.
Performance
DMAY vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, DMAY achieves a 3.95% return, which is significantly lower than YCS's 9.78% return.
DMAY
- 1D
- -0.19%
- 1M
- 0.16%
- YTD
- 3.95%
- 6M
- 4.08%
- 1Y
- 11.84%
- 3Y*
- 11.48%
- 5Y*
- 6.98%
- 10Y*
- —
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%
DMAY vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May | 3.95% | 11.05% | 12.82% | 15.40% | -9.98% | 6.14% | 6.40% |
YCS ProShares UltraShort Yen | 9.78% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -8.01% |
Correlation
The correlation between DMAY 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 | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 18, 2020 | -0.01 |
The correlation between DMAY and YCS shifts across timeframes, from -0.14 (1 year) to -0.00 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DMAY vs. YCS — Risk / Return Rank
DMAY
YCS
DMAY vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) 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.
| DMAY | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.35 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.57 | 3.79 | -0.23 |
| Martin ratioReturn relative to average drawdown | 20.12 | 11.86 | +8.26 |
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Drawdowns
DMAY vs. YCS - Drawdown Comparison
The maximum DMAY drawdown since its inception was -13.90%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for DMAY and YCS.
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Drawdown Indicators
| DMAY | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.90% | -49.56% | +35.66% |
Max Drawdown (1Y)Largest decline over 1 year | -3.36% | -8.30% | +4.94% |
Max Drawdown (3Y)Largest decline over 3 years | -12.38% | -23.05% | +10.67% |
Max Drawdown (5Y)Largest decline over 5 years | -13.90% | -27.32% | +13.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -0.75% | 0.00% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -2.23% | -19.88% | +17.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 2.65% | -2.06% |
Volatility
DMAY vs. YCS - Volatility Comparison
FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) and ProShares UltraShort Yen (YCS) have volatilities of 2.19% and 2.22%, 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
| DMAY | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.19% | 2.22% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 4.26% | 12.19% | -7.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.06% | 16.96% | -11.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.06% | 21.10% | -12.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.43% | 18.96% | -10.53% |
DMAY vs. YCS - Expense Ratio Comparison
DMAY has a 0.85% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
DMAY vs. YCS - Dividend Comparison
Neither DMAY nor YCS has paid dividends to shareholders.
Frequently Asked Questions
DMAY 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.
YCS has higher volatility (2.22%) compared to DMAY (2.19%). In terms of maximum drawdown, DMAY dropped -13.90% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.50% vs 6.98% for DMAY. On fees, DMAY is cheaper at 0.85% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, YCS has performed better with a 23.50% return vs 6.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DMAY is cheaper with a 0.85% expense ratio, compared with 1.00% for YCS.
DMAY and YCS have nearly identical dividend yields, around 0.00%.
DMAY is categorized as Large Cap Blend Equities, while YCS is Leveraged Currency. DMAY tracks Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.85% for DMAY and 1.00% for YCS.
DMAY currently has the higher Sharpe Ratio (2.37 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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