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EEMO vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EEMO vs. YCS

Last updated Jun 4, 2026

EEMO (Invesco S&P Emerging Markets Momentum ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - EEMO is a Momentum fund tracking the S&P Momentum Emerging Plus LargeMidCap Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, EEMO returned 8.88%/yr vs 12.34%/yr for YCS. At a correlation of -0.01, they often move in opposite directions. EEMO charges 0.31%/yr vs 1.00%/yr for YCS.

Performance

EEMO vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Emerging Markets Momentum ETF (EEMO) 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, EEMO achieves a 40.25% return, which is significantly higher than YCS's 7.17% return. Over the past 10 years, EEMO has underperformed YCS with an annualized return of 8.88%, while YCS has yielded a comparatively higher 12.34% annualized return.

EEMO

1D
-1.32%
1M
18.59%
YTD
40.25%
6M
41.33%
1Y
57.41%
3Y*
25.30%
5Y*
7.19%
10Y*
8.88%

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)

EEMO vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EEMO
Invesco S&P Emerging Markets Momentum ETF		40.25%10.99%9.88%13.90%-18.73%-5.57%9.66%21.17%-17.24%49.65%
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 EEMO 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

-0.15

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

-0.11

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

-0.05

Correlation (All Time)
Calculated using the full available price history since Feb 27, 2012

-0.01

Over the past year, the inverse relationship between EEMO and YCS has strengthened: their correlation has moved from -0.01 to -0.29, meaning they now move in opposite directions more often than their long-term average.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P Emerging Markets Momentum ETF

ProShares UltraShort Yen

Often compared with EEMO:
EEMO vs. IDMOEEMO vs. EEMEEMO vs. PIEEEMO vs. VWOEEMO vs. EEMSEEMO vs. SPMOEEMO vs. AVEM
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

EEMO vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EEMO
EEMO Risk / Return Rank: 7575
Overall Rank
EEMO Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
EEMO Sortino Ratio Rank: 7272
Sortino Ratio Rank
EEMO Omega Ratio Rank: 7777
Omega Ratio Rank
EEMO Calmar Ratio Rank: 7777
Calmar Ratio Rank
EEMO Martin Ratio Rank: 7979
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.

EEMO vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Emerging Markets Momentum ETF (EEMO) 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.

EEMOYCSDifference
Sharpe ratioReturn per unit of total volatility
2.36
1.92

+0.44

Sortino ratioReturn per unit of downside risk
3.28
2.44

+0.84

Omega ratioGain probability vs. loss probability

1.46

1.35

+0.11

Calmar ratioReturn relative to maximum drawdown

3.91

3.97

-0.06

Martin ratioReturn relative to average drawdown

15.67

12.40

+3.28

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

EEMO vs. YCS - Sharpe Ratio Comparison

The current EEMO Sharpe Ratio is 2.36, which is comparable to the YCS Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of EEMO 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

EEMOYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.36

1.92

+0.44

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.37

1.12

-0.75

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.41

0.65

-0.24

Sharpe Ratio (All Time)

Calculated using the full available price history

0.13

0.33

-0.20

Drawdowns

EEMO vs. YCS - Drawdown Comparison

The maximum EEMO drawdown since its inception was -48.47%, roughly equal to the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for EEMO and YCS.

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Drawdown Indicators

EEMOYCSDifference

Max Drawdown

Largest peak-to-trough decline

-48.47%

-49.56%

+1.09%

Max Drawdown (1Y)

Largest decline over 1 year

-14.75%

-8.30%

-6.45%

Max Drawdown (3Y)

Largest decline over 3 years

-26.06%

-23.05%

-3.01%

Max Drawdown (5Y)

Largest decline over 5 years

-34.03%

-27.32%

-6.71%

Max Drawdown (10Y)

Largest decline over 10 years

-46.57%

-27.32%

-19.25%

Current Drawdown

Current decline from peak

-1.32%

0.00%

-1.32%

Average Drawdown

Average peak-to-trough decline

-20.17%

-19.93%

-0.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.67%

2.66%

+1.01%

Volatility

EEMO vs. YCS - Volatility Comparison

Invesco S&P Emerging Markets Momentum ETF (EEMO) has a higher volatility of 14.32% compared to ProShares UltraShort Yen (YCS) at 2.75%. This indicates that EEMO'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

EEMOYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.32%

2.75%

+11.57%

Volatility (6M)

Calculated over the trailing 6-month period

22.10%

12.32%

+9.78%

Volatility (1Y)

Calculated over the trailing 1-year period

24.45%

17.27%

+7.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.33%

21.10%

-1.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.59%

19.01%

+2.58%

EEMO vs. YCS - Expense Ratio Comparison

EEMO has a 0.31% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

EEMO vs. YCS - Dividend Comparison

EEMO's dividend yield for the trailing twelve months is around 1.64%, while YCS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
EEMO
Invesco S&P Emerging Markets Momentum ETF		1.64%2.31%2.57%3.65%3.82%1.51%1.53%2.13%13.10%5.13%1.55%2.92%
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

EEMO 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.

EEMO has higher volatility (14.32%) compared to YCS (2.75%). In terms of maximum drawdown, EEMO dropped -48.47% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.34% vs 8.88% for EEMO. On fees, EEMO is cheaper at 0.31% 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 8.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EEMO is cheaper with a 0.31% expense ratio, compared with 1.00% for YCS.

EEMO has the higher dividend yield at 1.64%, compared with 0.00% for YCS.

EEMO is categorized as Momentum, while YCS is Leveraged Currency. EEMO tracks S&P Momentum Emerging Plus LargeMidCap Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.31% for EEMO and 1.00% for YCS.

EEMO currently has the higher Sharpe Ratio (2.36 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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