EPHE vs. YCS
EPHE (iShares MSCI Philippines ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - EPHE is a Asia Pacific Equities fund tracking the MSCI Philippines Investable Market Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, EPHE returned -2.80%/yr vs 13.62%/yr for YCS. At a 0.01 correlation, their price movements are largely independent. EPHE charges 0.59%/yr vs 1.00%/yr for YCS.
Performance
EPHE vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, EPHE achieves a 1.87% return, which is significantly lower than YCS's 9.63% return. Over the past 10 years, EPHE has underperformed YCS with an annualized return of -2.80%, while YCS has yielded a comparatively higher 13.62% annualized return.
EPHE
- 1D
- 0.69%
- 1M
- 2.70%
- YTD
- 1.87%
- 6M
- 1.83%
- 1Y
- -1.42%
- 3Y*
- 1.74%
- 5Y*
- -2.44%
- 10Y*
- -2.80%
YCS
- 1D
- -0.14%
- 1M
- 3.57%
- YTD
- 9.63%
- 6M
- 10.44%
- 1Y
- 31.27%
- 3Y*
- 18.37%
- 5Y*
- 23.52%
- 10Y*
- 13.62%
EPHE vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EPHE iShares MSCI Philippines ETF | 1.87% | 1.56% | -1.41% | 1.27% | -15.87% | -2.23% | -3.95% | 8.50% | -17.50% | 20.20% |
YCS ProShares UltraShort Yen | 9.63% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between EPHE and YCS is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2010 | 0.01 |
The correlation between EPHE and YCS shifts across timeframes, from -0.22 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EPHE vs. YCS — Risk / Return Rank
EPHE
YCS
EPHE vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Philippines ETF (EPHE) 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.
| EPHE | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.93 | ||
| Sortino ratioReturn per unit of downside risk | -2.31 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.34 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 3.78 | -3.87 |
| Martin ratioReturn relative to average drawdown | -0.16 | 11.93 | -12.09 |
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Drawdowns
EPHE vs. YCS - Drawdown Comparison
The maximum EPHE drawdown since its inception was -53.82%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for EPHE and YCS.
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Drawdown Indicators
| EPHE | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.82% | -49.56% | -4.26% |
Max Drawdown (1Y)Largest decline over 1 year | -15.90% | -8.30% | -7.60% |
Max Drawdown (3Y)Largest decline over 3 years | -21.42% | -23.05% | +1.63% |
Max Drawdown (5Y)Largest decline over 5 years | -32.96% | -27.32% | -5.64% |
Max Drawdown (10Y)Largest decline over 10 years | -51.62% | -27.32% | -24.30% |
Current DrawdownCurrent decline from peak | -32.64% | -0.14% | -32.50% |
Average DrawdownAverage peak-to-trough decline | -21.02% | -19.87% | -1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.76% | 2.65% | +6.11% |
Volatility
EPHE vs. YCS - Volatility Comparison
iShares MSCI Philippines ETF (EPHE) has a higher volatility of 9.46% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that EPHE'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
| EPHE | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.46% | 2.25% | +7.21% |
Volatility (6M)Calculated over the trailing 6-month period | 15.63% | 12.19% | +3.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.50% | 16.93% | +3.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.42% | 21.10% | -2.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.29% | 18.82% | +3.47% |
EPHE vs. YCS - Expense Ratio Comparison
EPHE has a 0.59% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
EPHE vs. YCS - Dividend Comparison
EPHE's dividend yield for the trailing twelve months is around 2.73%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPHE iShares MSCI Philippines ETF | 2.73% | 2.11% | 2.32% | 2.01% | 1.73% | 1.05% | 0.72% | 0.78% | 0.45% | 0.36% | 0.71% | 1.03% |
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
EPHE and YCS have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EPHE has higher volatility (9.46%) compared to YCS (2.25%). In terms of maximum drawdown, EPHE dropped -53.82% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.62% vs -2.80% for EPHE. On fees, EPHE is cheaper at 0.59% per year. On volatility, YCS has been the lower-risk option at 2.25%. 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 13.62% return vs -2.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EPHE is cheaper with a 0.59% expense ratio, compared with 1.00% for YCS.
EPHE has the higher dividend yield at 2.73%, compared with 0.00% for YCS.
EPHE is categorized as Asia Pacific Equities, while YCS is Leveraged Currency. EPHE tracks MSCI Philippines Investable Market Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.59% for EPHE and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.86 vs -0.07), 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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