EET vs. YCS
EET (ProShares Ultra MSCI Emerging Markets) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - EET is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (200%), while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, EET returned 11.03%/yr vs 12.34%/yr for YCS. At a 0.06 correlation, their price movements are largely independent. EET charges 0.95%/yr vs 1.00%/yr for YCS.
Performance
EET vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, EET achieves a 54.14% return, which is significantly higher than YCS's 7.17% return. Over the past 10 years, EET has underperformed YCS with an annualized return of 11.03%, while YCS has yielded a comparatively higher 12.34% annualized return.
EET
- 1D
- -2.52%
- 1M
- 17.51%
- YTD
- 54.14%
- 6M
- 60.18%
- 1Y
- 118.88%
- 3Y*
- 38.53%
- 5Y*
- 4.07%
- 10Y*
- 11.03%
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%
EET vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EET ProShares Ultra MSCI Emerging Markets | 54.14% | 63.14% | 2.88% | 7.06% | -43.07% | -10.93% | 18.92% | 31.87% | -33.84% | 82.41% |
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 EET 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 | -0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2009 | 0.06 |
The correlation between EET and YCS shifts across timeframes, from -0.29 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EET vs. YCS — Risk / Return Rank
EET
YCS
EET vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Emerging Markets (EET) 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.
| EET | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.35 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.53 | 3.97 | +0.56 |
| Martin ratioReturn relative to average drawdown | 16.64 | 12.40 | +4.24 |
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
| EET | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.02 | 1.92 | +1.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 1.12 | -1.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.65 | -0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.33 | -0.21 |
Drawdowns
EET vs. YCS - Drawdown Comparison
The maximum EET drawdown since its inception was -71.66%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for EET and YCS.
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Drawdown Indicators
| EET | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.66% | -49.56% | -22.10% |
Max Drawdown (1Y)Largest decline over 1 year | -26.38% | -8.30% | -18.08% |
Max Drawdown (3Y)Largest decline over 3 years | -34.89% | -23.05% | -11.84% |
Max Drawdown (5Y)Largest decline over 5 years | -64.88% | -27.32% | -37.56% |
Max Drawdown (10Y)Largest decline over 10 years | -69.07% | -27.32% | -41.75% |
Current DrawdownCurrent decline from peak | -2.52% | 0.00% | -2.52% |
Average DrawdownAverage peak-to-trough decline | -37.27% | -19.93% | -17.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.17% | 2.66% | +4.51% |
Volatility
EET vs. YCS - Volatility Comparison
ProShares Ultra MSCI Emerging Markets (EET) has a higher volatility of 17.46% compared to ProShares UltraShort Yen (YCS) at 2.75%. This indicates that EET'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
| EET | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.46% | 2.75% | +14.71% |
Volatility (6M)Calculated over the trailing 6-month period | 34.52% | 12.32% | +22.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.66% | 17.27% | +22.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.78% | 21.10% | +16.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.60% | 19.01% | +21.59% |
EET vs. YCS - Expense Ratio Comparison
EET has a 0.95% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
EET vs. YCS - Dividend Comparison
EET's dividend yield for the trailing twelve months is around 1.23%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EET ProShares Ultra MSCI Emerging Markets | 1.23% | 1.82% | 3.85% | 2.14% | 0.00% | 0.00% | 0.01% | 1.40% | 0.16% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EET 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.
EET has higher volatility (17.46%) compared to YCS (2.75%). In terms of maximum drawdown, EET dropped -71.66% vs YCS's -49.56%.
On 10-year performance, YCS leads with 12.34% vs 11.03% for EET. On fees, EET is cheaper at 0.95% 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 11.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EET is cheaper with a 0.95% expense ratio, compared with 1.00% for YCS.
EET has the higher dividend yield at 1.23%, compared with 0.00% for YCS.
EET is categorized as Leveraged Equities, while YCS is Leveraged Currency. EET tracks MSCI Emerging Markets Index (200%), while YCS tracks USD/JPY Exchange Rate (-200%). Their fees differ too: 0.95% for EET and 1.00% for YCS.
EET currently has the higher Sharpe Ratio (3.02 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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