EAPR vs. YCS
EAPR (Innovator Emerging Markets Power Buffer ETF - April) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - EAPR is a Defined Outcome fund tracking the MSCI Emerging Markets, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 5 years, EAPR returned 5.15%/yr vs 23.54%/yr for YCS. At a correlation of -0.16, they often move in opposite directions. EAPR charges 0.89%/yr vs 1.00%/yr for YCS.
Performance
EAPR vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, EAPR achieves a 11.39% return, which is significantly higher than YCS's 7.17% return.
EAPR
- 1D
- -0.45%
- 1M
- 2.01%
- YTD
- 11.39%
- 6M
- 12.25%
- 1Y
- 22.07%
- 3Y*
- 10.62%
- 5Y*
- 5.15%
- 10Y*
- —
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%
EAPR vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EAPR Innovator Emerging Markets Power Buffer ETF - April | 11.39% | 14.80% | 2.86% | 8.19% | -5.01% | -2.80% |
YCS ProShares UltraShort Yen | 7.17% | 9.04% | 35.41% | 28.70% | 29.09% | 6.99% |
Correlation
The correlation between EAPR and YCS is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2021 | -0.16 |
The correlation between EAPR and YCS shifts across timeframes, from -0.28 (1 year) to -0.15 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EAPR vs. YCS — Risk / Return Rank
EAPR
YCS
EAPR vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Emerging Markets Power Buffer ETF - April (EAPR) 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.
| EAPR | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.14 | ||
| Sortino ratioReturn per unit of downside risk | +2.81 | ||
| Omega ratioGain probability vs. loss probability | 1.84 | 1.35 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 7.33 | 3.97 | +3.36 |
| Martin ratioReturn relative to average drawdown | 42.15 | 12.40 | +29.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EAPR | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.06 | 1.92 | +1.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 1.12 | -0.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.33 | +0.21 |
Drawdowns
EAPR vs. YCS - Drawdown Comparison
The maximum EAPR drawdown since its inception was -17.65%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for EAPR and YCS.
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Drawdown Indicators
| EAPR | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.65% | -49.56% | +31.91% |
Max Drawdown (1Y)Largest decline over 1 year | -3.02% | -8.30% | +5.28% |
Max Drawdown (3Y)Largest decline over 3 years | -10.24% | -23.05% | +12.81% |
Max Drawdown (5Y)Largest decline over 5 years | -17.65% | -27.32% | +9.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -0.45% | 0.00% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -4.06% | -19.93% | +15.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 2.66% | -2.14% |
Volatility
EAPR vs. YCS - Volatility Comparison
Innovator Emerging Markets Power Buffer ETF - April (EAPR) has a higher volatility of 3.79% compared to ProShares UltraShort Yen (YCS) at 2.75%. This indicates that EAPR'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
| EAPR | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.79% | 2.75% | +1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 6.28% | 12.32% | -6.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.24% | 17.27% | -10.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.09% | 21.10% | -11.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.02% | 19.01% | -8.99% |
EAPR vs. YCS - Expense Ratio Comparison
EAPR has a 0.89% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
EAPR vs. YCS - Dividend Comparison
Neither EAPR nor YCS has paid dividends to shareholders.
Frequently Asked Questions
EAPR and YCS have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EAPR has higher volatility (3.79%) compared to YCS (2.75%). In terms of maximum drawdown, EAPR dropped -17.65% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.54% vs 5.15% for EAPR. On fees, EAPR is cheaper at 0.89% 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 5-year period, YCS has performed better with a 23.54% return vs 5.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EAPR is cheaper with a 0.89% expense ratio, compared with 1.00% for YCS.
EAPR and YCS have nearly identical dividend yields, around 0.00%.
EAPR is categorized as Defined Outcome, while YCS is Leveraged Currency. EAPR tracks MSCI Emerging Markets, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.89% for EAPR and 1.00% for YCS.
EAPR currently has the higher Sharpe Ratio (3.06 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.
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