EMOT vs. YCS

Last updated Jun 21, 2026

EMOT (First Trust S&P 500 Economic Moat ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - EMOT is a S&P 500 fund tracking the S&P 500 Economic Moat Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past year, EMOT returned 20.02% vs 31.36% for YCS. At a correlation of -0.05, they often move in opposite directions. EMOT charges 0.60%/yr vs 1.00%/yr for YCS.

Performance

EMOT vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust S&P 500 Economic Moat ETF (EMOT) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMOT achieves a 10.84% return, which is significantly higher than YCS's 9.78% return.

EMOT

• 1D: 1.04%
• 1M: 1.07%
• YTD: 10.84%
• 6M: 10.58%
• 1Y: 20.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YCS

• 1D: 0.40%
• 1M: 3.71%
• YTD: 9.78%
• 6M: 9.63%
• 1Y: 31.36%
• 3Y*: 18.43%
• 5Y*: 23.50%
• 10Y*: 13.63%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EMOT vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EMOT First Trust S&P 500 Economic Moat ETF	10.84%	14.17%	5.53%
YCS ProShares UltraShort Yen	9.78%	9.04%	-1.63%

Correlation

The correlation between EMOT and YCS is -0.26, 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	-0.26
Correlation (All Time) Calculated using the full available price history since Jun 27, 2024	-0.05

Over the past year, the inverse relationship between EMOT and YCS has strengthened: their correlation has moved from -0.05 to -0.26, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

EMOT vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EMOT

EMOT Risk / Return Rank: 49
EMOT Sharpe Ratio Rank: 50
EMOT Sortino Ratio Rank: 50
EMOT Omega Ratio Rank: 47
EMOT Calmar Ratio Rank: 44
EMOT Martin Ratio Rank: 51

YCS

YCS Risk / Return Rank: 61
YCS Sharpe Ratio Rank: 57
YCS Sortino Ratio Rank: 49
YCS Omega Ratio Rank: 57
YCS Calmar Ratio Rank: 77
YCS Martin Ratio Rank: 67

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.

EMOT vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust S&P 500 Economic Moat ETF (EMOT) 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.

	EMOT	YCS	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.86	-0.18
Sortino ratio: Return per unit of downside risk	2.39	2.37	+0.02
Omega ratio: Gain probability vs. loss probability	1.29	1.35	-0.05
Calmar ratio: Return relative to maximum drawdown	2.13	3.79	-1.67
Martin ratio: Return relative to average drawdown	8.35	11.86	-3.51

EMOT vs. YCS - Sharpe Ratio Comparison

The current EMOT Sharpe Ratio is 1.68, which is comparable to the YCS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of EMOT 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.

Drawdowns

EMOT vs. YCS - Drawdown Comparison

The maximum EMOT drawdown since its inception was -16.41%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for EMOT and YCS.

Drawdown Indicators

	EMOT	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-16.41%	-49.56%	+33.15%
Max Drawdown (1Y) Largest decline over 1 year	-9.19%	-8.30%	-0.89%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.32%	—
Current Drawdown Current decline from peak	-1.17%	0.00%	-1.17%
Average Drawdown Average peak-to-trough decline	-2.06%	-19.88%	+17.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	2.65%	-0.31%

Volatility

EMOT vs. YCS - Volatility Comparison

First Trust S&P 500 Economic Moat ETF (EMOT) has a higher volatility of 3.94% compared to ProShares UltraShort Yen (YCS) at 2.22%. This indicates that EMOT'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.

Volatility by Period

	EMOT	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	2.22%	+1.72%
Volatility (6M) Calculated over the trailing 6-month period	8.98%	12.19%	-3.21%
Volatility (1Y) Calculated over the trailing 1-year period	11.67%	16.96%	-5.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.94%	21.10%	-6.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.94%	18.96%	-4.02%

EMOT vs. YCS - Expense Ratio Comparison

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

Dividends

EMOT vs. YCS - Dividend Comparison

EMOT's dividend yield for the trailing twelve months is around 1.07%, while YCS has not paid dividends to shareholders.

Position	TTM	2025	2024
EMOT First Trust S&P 500 Economic Moat ETF	1.07%	0.84%	0.37%
YCS ProShares UltraShort Yen	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMOT and YCS in my portfolio?

EMOT and YCS have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMOT or YCS?

EMOT has higher volatility (3.94%) compared to YCS (2.22%). In terms of maximum drawdown, EMOT dropped -16.41% vs YCS's -49.56%.

Which ETF is better, EMOT or YCS?

On 1-year performance, YCS leads with 31.36% vs 20.02% for EMOT. On fees, EMOT is cheaper at 0.60% per year. On volatility, YCS has been the lower-risk option at 2.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMOT or YCS?

Over the 1-year period, YCS has performed better with a 31.36% return vs 20.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMOT or YCS?

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

Which ETF pays a higher dividend yield, EMOT or YCS?

EMOT has the higher dividend yield at 1.07%, compared with 0.00% for YCS.

What is the main difference between EMOT and YCS?

EMOT is categorized as S&P 500, while YCS is Leveraged Currency. EMOT tracks S&P 500 Economic Moat Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.60% for EMOT and 1.00% for YCS.

Which has better risk-adjusted returns?

YCS currently has the higher Sharpe Ratio (1.86 vs 1.68), 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.