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EMDV vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMDV vs. YCS

Last updated Jun 4, 2026

EMDV (ProShares MSCI Emerging Markets Dividend Growers ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - EMDV is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Dividend Masters Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, EMDV returned 2.64%/yr vs 12.34%/yr for YCS. At a correlation of -0.03, they often move in opposite directions. EMDV charges 0.60%/yr vs 1.00%/yr for YCS.

Performance

EMDV vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) 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, EMDV achieves a 1.17% return, which is significantly lower than YCS's 7.17% return. Over the past 10 years, EMDV has underperformed YCS with an annualized return of 2.64%, while YCS has yielded a comparatively higher 12.34% annualized return.

EMDV

1D
-1.57%
1M
0.78%
YTD
1.17%
6M
1.13%
1Y
7.88%
3Y*
2.77%
5Y*
-3.15%
10Y*
2.64%

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)

EMDV vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EMDV
ProShares MSCI Emerging Markets Dividend Growers ETF		1.17%11.90%0.06%-1.03%-18.19%1.11%-0.09%14.93%-7.52%26.98%
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 EMDV and YCS is -0.27, 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

-0.27

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

-0.17

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

-0.15

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

-0.04

Correlation (All Time)
Calculated using the full available price history since Jan 28, 2016

-0.03

Over the past year, the inverse relationship between EMDV and YCS has strengthened: their correlation has moved from -0.03 to -0.27, meaning they now move in opposite directions more often than their long-term average.

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ProShares MSCI Emerging Markets Dividend Growers ETF

ProShares UltraShort Yen

Often compared with EMDV:
EMDV vs. CRBNEMDV vs. VWOEMDV vs. SCHDEMDV vs. EMBEMDV vs. DIVOEMDV vs. NOBLEMDV vs. BDVG
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

EMDV vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMDV
EMDV Risk / Return Rank: 2222
Overall Rank
EMDV Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
EMDV Sortino Ratio Rank: 2020
Sortino Ratio Rank
EMDV Omega Ratio Rank: 2020
Omega Ratio Rank
EMDV Calmar Ratio Rank: 2424
Calmar Ratio Rank
EMDV Martin Ratio Rank: 2424
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.

EMDV vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) 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.

EMDVYCSDifference
Sharpe ratioReturn per unit of total volatility
0.71
1.92

-1.21

Sortino ratioReturn per unit of downside risk
1.07
2.44

-1.37

Omega ratioGain probability vs. loss probability

1.13

1.35

-0.22

Calmar ratioReturn relative to maximum drawdown

1.09

3.97

-2.88

Martin ratioReturn relative to average drawdown

3.33

12.40

-9.07

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

EMDV vs. YCS - Sharpe Ratio Comparison

The current EMDV Sharpe Ratio is 0.71, which is lower than the YCS Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of EMDV 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

EMDVYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.71

1.92

-1.21

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.21

1.12

-1.33

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.15

0.65

-0.51

Sharpe Ratio (All Time)

Calculated using the full available price history

0.22

0.33

-0.11

Drawdowns

EMDV vs. YCS - Drawdown Comparison

The maximum EMDV drawdown since its inception was -39.20%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for EMDV and YCS.

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Drawdown Indicators

EMDVYCSDifference

Max Drawdown

Largest peak-to-trough decline

-39.20%

-49.56%

+10.36%

Max Drawdown (1Y)

Largest decline over 1 year

-7.24%

-8.30%

+1.06%

Max Drawdown (3Y)

Largest decline over 3 years

-20.71%

-23.05%

+2.34%

Max Drawdown (5Y)

Largest decline over 5 years

-34.97%

-27.32%

-7.65%

Max Drawdown (10Y)

Largest decline over 10 years

-39.20%

-27.32%

-11.88%

Current Drawdown

Current decline from peak

-14.80%

0.00%

-14.80%

Average Drawdown

Average peak-to-trough decline

-13.55%

-19.93%

+6.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.37%

2.66%

-0.29%

Volatility

EMDV vs. YCS - Volatility Comparison

ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) has a higher volatility of 4.17% compared to ProShares UltraShort Yen (YCS) at 2.75%. This indicates that EMDV'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

EMDVYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.17%

2.75%

+1.42%

Volatility (6M)

Calculated over the trailing 6-month period

9.21%

12.32%

-3.11%

Volatility (1Y)

Calculated over the trailing 1-year period

11.21%

17.27%

-6.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.42%

21.10%

-5.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.26%

19.01%

-0.75%

EMDV vs. YCS - Expense Ratio Comparison

EMDV has a 0.60% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

EMDV vs. YCS - Dividend Comparison

EMDV's dividend yield for the trailing twelve months is around 2.41%, while YCS has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019201820172016
EMDV
ProShares MSCI Emerging Markets Dividend Growers ETF		2.41%2.46%2.79%1.88%3.68%2.12%3.12%2.38%1.27%2.09%2.87%
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

EMDV and YCS have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EMDV has higher volatility (4.17%) compared to YCS (2.75%). In terms of maximum drawdown, EMDV dropped -39.20% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.34% vs 2.64% for EMDV. On fees, EMDV is cheaper at 0.60% 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 2.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EMDV is cheaper with a 0.60% expense ratio, compared with 1.00% for YCS.

EMDV has the higher dividend yield at 2.41%, compared with 0.00% for YCS.

EMDV is categorized as Emerging Markets Equities, while YCS is Leveraged Currency. EMDV tracks MSCI Emerging Markets Dividend Masters Index, while YCS tracks USD/JPY Exchange Rate (-200%). Their fees differ too: 0.60% for EMDV and 1.00% for YCS.

YCS currently has the higher Sharpe Ratio (1.92 vs 0.71), 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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