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 -27.60% vs 31.27% for YCS. At a 0.02 correlation, their price movements are largely independent. 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 -43.73% return, which is significantly lower than YCS's 9.63% return.
ETH
- 1D
- -4.13%
- 1M
- -19.44%
- YTD
- -43.73%
- 6M
- -43.65%
- 1Y
- -27.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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%
ETH vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETH Grayscale Ethereum Staking Mini ETF | -43.73% | -10.89% | -4.58% |
YCS ProShares UltraShort Yen | 9.63% | 9.04% | 2.08% |
Correlation
The correlation between ETH and YCS is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | 0.02 |
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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 | -2.26 | ||
| Sortino ratioReturn per unit of downside risk | -2.54 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.34 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | 3.78 | -4.20 |
| Martin ratioReturn relative to average drawdown | -0.69 | 11.93 | -12.62 |
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Drawdowns
ETH vs. YCS - Drawdown Comparison
The maximum ETH drawdown since its inception was -67.19%, 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 | -67.19% | -49.56% | -17.63% |
Max Drawdown (1Y)Largest decline over 1 year | -67.19% | -8.30% | -58.89% |
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 DrawdownCurrent decline from peak | -65.34% | -0.14% | -65.20% |
Average DrawdownAverage peak-to-trough decline | -33.50% | -19.87% | -13.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.15% | 2.65% | +37.50% |
Volatility
ETH vs. YCS - Volatility Comparison
Grayscale Ethereum Staking Mini ETF (ETH) has a higher volatility of 19.75% compared to ProShares UltraShort Yen (YCS) at 2.25%. 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 | 19.75% | 2.25% | +17.50% |
Volatility (6M)Calculated over the trailing 6-month period | 46.93% | 12.19% | +34.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.05% | 16.93% | +52.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.37% | 21.10% | +51.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.37% | 18.82% | +53.55% |
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 -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETH has higher volatility (19.75%) compared to YCS (2.25%). In terms of maximum drawdown, ETH dropped -67.19% vs YCS's -49.56%.
On 1-year performance, YCS leads with 31.27% vs -27.60% for ETH. On fees, ETH is cheaper at 0.15% 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 1-year period, YCS has performed better with a 31.27% return vs -27.60%. 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 (1.86 vs -0.40), 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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