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EEMA vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EEMA vs. YCS

Last updated Jun 4, 2026

EEMA (iShares MSCI Emerging Markets Asia ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - EEMA is a Asia Pacific Equities fund tracking the MSCI Emerging Markets Asia Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, EEMA returned 10.80%/yr vs 12.34%/yr for YCS. At a 0.06 correlation, their price movements are largely independent. EEMA charges 0.50%/yr vs 1.00%/yr for YCS.

Performance

EEMA vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets Asia ETF (EEMA) 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, EEMA achieves a 27.78% return, which is significantly higher than YCS's 7.17% return. Over the past 10 years, EEMA has underperformed YCS with an annualized return of 10.80%, while YCS has yielded a comparatively higher 12.34% annualized return.

EEMA

1D
-1.17%
1M
9.00%
YTD
27.78%
6M
30.96%
1Y
56.77%
3Y*
24.08%
5Y*
7.05%
10Y*
10.80%

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)

EEMA vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EEMA
iShares MSCI Emerging Markets Asia ETF		27.78%33.27%10.23%6.57%-21.49%-4.22%25.17%18.60%-15.76%43.41%
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 EEMA and YCS is -0.29, 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

-0.29

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

-0.17

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

-0.14

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

-0.02

Correlation (All Time)
Calculated using the full available price history since Feb 10, 2012

0.06

The correlation between EEMA and YCS shifts across timeframes, from -0.29 (1 year) to 0.06 (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.

iShares MSCI Emerging Markets Asia ETF

ProShares UltraShort Yen

Often compared with EEMA:
EEMA vs. AIAEEMA vs. GMFEEMA vs. VFEM.LEEMA vs. VAPX.ASEEMA vs. GXCEEMA vs. MATFXEEMA vs. MCHI
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

EEMA vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EEMA
EEMA Risk / Return Rank: 8181
Overall Rank
EEMA Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
EEMA Sortino Ratio Rank: 8181
Sortino Ratio Rank
EEMA Omega Ratio Rank: 8282
Omega Ratio Rank
EEMA Calmar Ratio Rank: 7878
Calmar Ratio Rank
EEMA Martin Ratio Rank: 7777
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.

EEMA vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Asia ETF (EEMA) 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.

EEMAYCSDifference
Sharpe ratioReturn per unit of total volatility
2.80
1.92

+0.88

Sortino ratioReturn per unit of downside risk
3.64
2.44

+1.20

Omega ratioGain probability vs. loss probability

1.50

1.35

+0.15

Calmar ratioReturn relative to maximum drawdown

3.99

3.97

+0.02

Martin ratioReturn relative to average drawdown

15.03

12.40

+2.64

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

EEMA vs. YCS - Sharpe Ratio Comparison

The current EEMA Sharpe Ratio is 2.80, which is higher than the YCS Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of EEMA 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

EEMAYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.80

1.92

+0.88

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.35

1.12

-0.78

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.52

0.65

-0.13

Sharpe Ratio (All Time)

Calculated using the full available price history

0.37

0.33

+0.04

Drawdowns

EEMA vs. YCS - Drawdown Comparison

The maximum EEMA drawdown since its inception was -44.18%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for EEMA and YCS.

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Drawdown Indicators

EEMAYCSDifference

Max Drawdown

Largest peak-to-trough decline

-44.18%

-49.56%

+5.38%

Max Drawdown (1Y)

Largest decline over 1 year

-14.30%

-8.30%

-6.00%

Max Drawdown (3Y)

Largest decline over 3 years

-20.23%

-23.05%

+2.82%

Max Drawdown (5Y)

Largest decline over 5 years

-40.67%

-27.32%

-13.35%

Max Drawdown (10Y)

Largest decline over 10 years

-44.18%

-27.32%

-16.86%

Current Drawdown

Current decline from peak

-1.17%

0.00%

-1.17%

Average Drawdown

Average peak-to-trough decline

-13.97%

-19.93%

+5.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.79%

2.66%

+1.13%

Volatility

EEMA vs. YCS - Volatility Comparison

iShares MSCI Emerging Markets Asia ETF (EEMA) has a higher volatility of 8.53% compared to ProShares UltraShort Yen (YCS) at 2.75%. This indicates that EEMA'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

EEMAYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.53%

2.75%

+5.78%

Volatility (6M)

Calculated over the trailing 6-month period

17.40%

12.32%

+5.08%

Volatility (1Y)

Calculated over the trailing 1-year period

20.39%

17.27%

+3.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.41%

21.10%

-0.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.87%

19.01%

+1.86%

EEMA vs. YCS - Expense Ratio Comparison

EEMA has a 0.50% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

EEMA vs. YCS - Dividend Comparison

EEMA's dividend yield for the trailing twelve months is around 1.16%, while YCS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
EEMA
iShares MSCI Emerging Markets Asia ETF		1.16%1.48%1.74%2.02%1.78%2.19%1.15%1.86%2.17%1.74%1.74%2.44%
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

EEMA and YCS have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EEMA has higher volatility (8.53%) compared to YCS (2.75%). In terms of maximum drawdown, EEMA dropped -44.18% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.34% vs 10.80% for EEMA. On fees, EEMA is cheaper at 0.50% 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 10.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EEMA is cheaper with a 0.50% expense ratio, compared with 1.00% for YCS.

EEMA has the higher dividend yield at 1.16%, compared with 0.00% for YCS.

EEMA is categorized as Asia Pacific Equities, while YCS is Leveraged Currency. EEMA tracks MSCI Emerging Markets Asia Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.50% for EEMA and 1.00% for YCS.

EEMA currently has the higher Sharpe Ratio (2.80 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

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