ETH vs. YCS
ETH (Grayscale Ethereum Staking Mini ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - ETH is a Cryptocurrency fund actively managed by Grayscale, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). ETH is actively managed, while YCS is passively managed. Over the past year, ETH returned -45.97% vs 21.34% for YCS. Their 0.01 correlation means their historical movements had little consistent relationship. ETH charges 0.15%/yr vs 1.00%/yr for YCS.
Performance
ETH vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, ETH achieves a -36.49% return, which is significantly lower than YCS's 4.11% return.
ETH
- 1D
- 0.11%
- 1M
- 10.14%
- 6M
- -18.78%
- YTD
- -36.49%
- 1Y
- -45.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -26.19%
YCS
- 1D
- -2.97%
- 1M
- -5.17%
- 6M
- 5.08%
- YTD
- 4.11%
- 1Y
- 21.34%
- 3Y*
- 16.96%
- 5Y*
- 22.90%
- 10Y*
- 13.21%
- ALL TIME*
- 6.26%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $31.27M | $33.28M | $46.00M | |
| $2.37M | $2.29M | $1.56M |
ETH vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETH Grayscale Ethereum Staking Mini ETF | -36.49% | -10.89% | -4.58% |
YCS ProShares UltraShort Yen | 4.11% | 9.04% | 2.08% |
Correlation
The correlation between ETH and YCS is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.09 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.01 |
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Return for Risk
ETH vs. YCS — Risk / Return Rank
ETH
YCS
ETH vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Staking Mini ETF (ETH) 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.
| ETH | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -2.53 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.26 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 2.53 | -3.21 |
| Martin ratioReturn relative to average drawdown | -1.02 | 9.53 | -10.55 |
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Drawdowns
ETH vs. YCS - Drawdown Comparison
The maximum ETH drawdown since its inception was -67.52%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for ETH and YCS.
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Drawdown Indicators
| ETH | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.52% | -49.56% | -17.96% |
Max Drawdown (1Y)Largest decline over 1 year | -67.52% | -8.48% | -59.04% |
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 DrawdownCurrent decline from peak | -60.89% | -8.48% | -52.41% |
Average DrawdownAverage peak-to-trough decline | -35.09% | -19.75% | -15.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.23% | 2.24% | +42.99% |
Volatility
ETH vs. YCS - Volatility Comparison
Grayscale Ethereum Staking Mini ETF (ETH) has a higher volatility of 12.23% compared to ProShares UltraShort Yen (YCS) at 5.88%. This indicates that ETH'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
| ETH | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.23% | 5.88% | +6.35% |
Volatility (6M)Calculated over the trailing 6-month period | 45.64% | 11.84% | +33.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.03% | 16.43% | +50.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.15% | 21.21% | +49.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.15% | 18.61% | +52.54% |
ETH vs. YCS - Expense Ratio Comparison
ETH has a 0.15% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
ETH vs. YCS - Dividend Comparison
Neither ETH nor YCS has paid dividends to shareholders.
Frequently Asked Questions
ETH and YCS have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETH has higher volatility (12.23%) compared to YCS (5.88%). In terms of maximum drawdown, ETH dropped -67.52% vs YCS's -49.56%.
On 1-year performance, YCS leads with 21.34% vs -45.97% for ETH. On fees, ETH is cheaper at 0.15% per year. On volatility, YCS has been the lower-risk option at 5.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, YCS has performed better with a 21.34% return vs -45.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETH is cheaper with a 0.15% expense ratio, compared with 1.00% for YCS.
ETH and YCS have nearly identical dividend yields, around 0.00%.
ETH is categorized as Cryptocurrency, while YCS is Leveraged Currency. They also come from different issuers: Grayscale and ProShares. Their fees differ too: 0.15% for ETH and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.31 vs -0.69), 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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