EFAX vs. YCS
EFAX (SPDR MSCI EAFE Fossil Fuel Free ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - EFAX is a Foreign Large Cap Equities fund tracking the MSCI EAFE ex Fossil Fuels Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 5 years, EFAX returned 8.38%/yr vs 23.55%/yr for YCS. Their -0.10 correlation means they have often moved in opposite directions in the past. EFAX charges 0.20%/yr vs 1.00%/yr for YCS.
Performance
EFAX vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, EFAX achieves a 9.92% return, which is significantly higher than YCS's 7.29% return.
EFAX
- 1D
- -0.65%
- 1M
- 0.42%
- 6M
- 5.51%
- YTD
- 9.92%
- 1Y
- 22.63%
- 3Y*
- 15.98%
- 5Y*
- 8.38%
- 10Y*
- —
- ALL TIME*
- 9.19%
YCS
- 1D
- -0.84%
- 1M
- -2.27%
- 6M
- 9.33%
- YTD
- 7.29%
- 1Y
- 25.05%
- 3Y*
- 17.34%
- 5Y*
- 23.55%
- 10Y*
- 13.76%
- ALL TIME*
- 6.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $530.63K | $1.05M | $1.10M | |
| $1.53M | $2.43M | $1.42M |
EFAX vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF | 9.92% | 31.30% | 4.78% | 18.02% | -16.72% | 10.50% | 9.57% | 23.52% | -14.78% | 23.93% |
YCS ProShares UltraShort Yen | 7.29% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between EFAX and YCS is -0.39, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.39 |
Correlation (3Y) Balances recent behavior with more history. | -0.28 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.24 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2016 | -0.10 |
Over the past year, the inverse relationship between EFAX and YCS has strengthened: their correlation has moved from -0.10 to -0.39, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
EFAX vs. YCS — Risk / Return Rank
EFAX
YCS
EFAX vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI EAFE Fossil Fuel Free ETF (EFAX) 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.
| EFAX | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.23 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 2.35 | -0.53 |
| Martin ratioReturn relative to average drawdown | 6.72 | 8.93 | -2.21 |
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Drawdowns
EFAX vs. YCS - Drawdown Comparison
The maximum EFAX drawdown since its inception was -32.53%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for EFAX and YCS.
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Drawdown Indicators
| EFAX | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.53% | -49.56% | +17.03% |
Max Drawdown (1Y)Largest decline over 1 year | -12.38% | -8.30% | -4.08% |
Max Drawdown (3Y)Largest decline over 3 years | -13.52% | -23.05% | +9.53% |
Max Drawdown (5Y)Largest decline over 5 years | -31.67% | -27.32% | -4.35% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -0.65% | -5.68% | +5.03% |
Average DrawdownAverage peak-to-trough decline | -6.88% | -19.75% | +12.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.34% | 2.64% | +0.70% |
Volatility
EFAX vs. YCS - Volatility Comparison
The current volatility for SPDR MSCI EAFE Fossil Fuel Free ETF (EFAX) is 4.92%, while ProShares UltraShort Yen (YCS) has a volatility of 5.30%. This indicates that EFAX experiences smaller price fluctuations and is considered to be less risky 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
| EFAX | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.92% | 5.30% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 14.42% | 11.65% | +2.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.46% | 16.85% | -0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.83% | 21.16% | -4.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.12% | 18.61% | -1.49% |
EFAX vs. YCS - Expense Ratio Comparison
EFAX has a 0.20% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
EFAX vs. YCS - Dividend Comparison
EFAX's dividend yield for the trailing twelve months is around 3.12%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF | 3.12% | 3.31% | 2.74% | 2.71% | 2.81% | 2.58% | 1.69% | 2.71% | 3.05% | 2.89% | 0.26% |
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% |
Frequently Asked Questions
EFAX and YCS have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCS has higher volatility (5.30%) compared to EFAX (4.92%). In terms of maximum drawdown, EFAX dropped -32.53% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.55% vs 8.38% for EFAX. On fees, EFAX is cheaper at 0.20% per year. On volatility, EFAX has been the lower-risk option at 4.92%. 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 23.55% return vs 8.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EFAX is cheaper with a 0.20% expense ratio, compared with 1.00% for YCS.
EFAX has the higher dividend yield at 3.12%, compared with 0.00% for YCS.
EFAX is categorized as Foreign Large Cap Equities, while YCS is Leveraged Currency. EFAX tracks MSCI EAFE ex Fossil Fuels Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.20% for EFAX and 1.00% for YCS.
EFAX currently has the higher Sharpe Ratio (1.37 vs 1.16), 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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