EPOL vs. YCS
EPOL (iShares MSCI Poland ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - EPOL is a Europe Equities fund tracking the MSCI Poland 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, EPOL returned 11.95%/yr vs 13.62%/yr for YCS. At a correlation of -0.03, they often move in opposite directions. EPOL charges 0.61%/yr vs 1.00%/yr for YCS.
Performance
EPOL vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, EPOL achieves a 10.88% return, which is significantly higher than YCS's 9.63% return. Over the past 10 years, EPOL has underperformed YCS with an annualized return of 11.95%, while YCS has yielded a comparatively higher 13.62% annualized return.
EPOL
- 1D
- -1.60%
- 1M
- -2.33%
- YTD
- 10.88%
- 6M
- 11.51%
- 1Y
- 36.67%
- 3Y*
- 33.20%
- 5Y*
- 15.75%
- 10Y*
- 11.95%
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%
EPOL vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EPOL iShares MSCI Poland ETF | 10.88% | 77.34% | -2.61% | 50.70% | -24.62% | 12.21% | -8.38% | -6.13% | -13.76% | 52.43% |
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 EPOL and YCS is -0.30, 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 | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since May 26, 2010 | -0.03 |
Over the past year, the inverse relationship between EPOL and YCS has strengthened: their correlation has moved from -0.03 to -0.30, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
EPOL vs. YCS — Risk / Return Rank
EPOL
YCS
EPOL vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Poland ETF (EPOL) 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.
| EPOL | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.34 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.34 | 3.78 | -0.45 |
| Martin ratioReturn relative to average drawdown | 9.08 | 11.93 | -2.85 |
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Drawdowns
EPOL vs. YCS - Drawdown Comparison
The maximum EPOL drawdown since its inception was -63.72%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for EPOL and YCS.
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Drawdown Indicators
| EPOL | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.72% | -49.56% | -14.16% |
Max Drawdown (1Y)Largest decline over 1 year | -11.04% | -8.30% | -2.74% |
Max Drawdown (3Y)Largest decline over 3 years | -21.81% | -23.05% | +1.24% |
Max Drawdown (5Y)Largest decline over 5 years | -54.21% | -27.32% | -26.89% |
Max Drawdown (10Y)Largest decline over 10 years | -61.41% | -27.32% | -34.09% |
Current DrawdownCurrent decline from peak | -4.82% | -0.14% | -4.68% |
Average DrawdownAverage peak-to-trough decline | -26.81% | -19.87% | -6.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.05% | 2.65% | +1.40% |
Volatility
EPOL vs. YCS - Volatility Comparison
iShares MSCI Poland ETF (EPOL) has a higher volatility of 7.54% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that EPOL'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
| EPOL | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.54% | 2.25% | +5.29% |
Volatility (6M)Calculated over the trailing 6-month period | 18.40% | 12.19% | +6.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.71% | 16.93% | +6.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.18% | 21.10% | +8.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.43% | 18.82% | +8.61% |
EPOL vs. YCS - Expense Ratio Comparison
EPOL has a 0.61% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
EPOL vs. YCS - Dividend Comparison
EPOL's dividend yield for the trailing twelve months is around 3.80%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPOL iShares MSCI Poland ETF | 3.80% | 4.78% | 6.04% | 2.87% | 2.65% | 1.33% | 1.44% | 2.51% | 1.44% | 1.88% | 2.14% | 2.53% |
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
EPOL and YCS have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EPOL has higher volatility (7.54%) compared to YCS (2.25%). In terms of maximum drawdown, EPOL dropped -63.72% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.62% vs 11.95% for EPOL. On fees, EPOL is cheaper at 0.61% 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 11.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EPOL is cheaper with a 0.61% expense ratio, compared with 1.00% for YCS.
EPOL has the higher dividend yield at 3.80%, compared with 0.00% for YCS.
EPOL is categorized as Europe Equities, while YCS is Leveraged Currency. EPOL tracks MSCI Poland Investable Market Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.61% for EPOL and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.86 vs 1.55), 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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