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EURL vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EURL vs. YCS

Last updated Jun 3, 2026

EURL (Direxion Daily FTSE Europe Bull 3x Shares) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - EURL is a Leveraged Equities fund tracking the FTSE Developed Europe Index (300%), while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, EURL returned 8.63%/yr vs 12.32%/yr for YCS. At a 0.00 correlation, their price movements are largely independent. EURL charges 1.07%/yr vs 1.00%/yr for YCS.

Performance

EURL vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily FTSE Europe Bull 3x Shares (EURL) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EURL achieves a 12.18% return, which is significantly higher than YCS's 6.99% return. Over the past 10 years, EURL has underperformed YCS with an annualized return of 8.63%, while YCS has yielded a comparatively higher 12.32% annualized return.

EURL

1D
1.75%
1M
4.57%
YTD
12.18%
6M
22.12%
1Y
39.22%
3Y*
31.90%
5Y*
6.08%
10Y*
8.63%

YCS

1D
0.03%
1M
4.27%
YTD
6.99%
6M
8.81%
1Y
35.19%
3Y*
19.77%
5Y*
23.16%
10Y*
12.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EURL vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EURL
Direxion Daily FTSE Europe Bull 3x Shares		12.18%105.85%-11.42%44.19%-54.41%46.59%-23.19%72.61%-46.39%91.32%
YCS
ProShares UltraShort Yen		6.99%9.04%35.41%28.70%29.09%22.38%-11.18%3.37%-1.49%-6.57%

Correlation

The correlation between EURL and YCS is -0.44, 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

-0.44

Correlation (3Y)
Calculated over the trailing 3-year period

-0.27

Correlation (5Y)
Calculated over the trailing 5-year period

-0.21

Correlation (10Y)
Calculated over the trailing 10-year period

-0.06

Correlation (All Time)
Calculated using the full available price history since Jan 23, 2014

0.00

The correlation between EURL and YCS shifts across timeframes, from -0.44 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Direxion Daily FTSE Europe Bull 3x Shares

ProShares UltraShort Yen

Often compared with EURL:
EURL vs. EUFNEURL vs. UPVEURL vs. QQQEURL vs. SOXLEURL vs. VGKEURL vs. TQQQEURL vs. SPY
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

EURL vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EURL
EURL Risk / Return Rank: 2626
Overall Rank
EURL Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
EURL Sortino Ratio Rank: 2626
Sortino Ratio Rank
EURL Omega Ratio Rank: 2525
Omega Ratio Rank
EURL Calmar Ratio Rank: 2626
Calmar Ratio Rank
EURL Martin Ratio Rank: 2828
Martin Ratio Rank
YCS
YCS Risk / Return Rank: 6363
Overall Rank
YCS Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
YCS Sortino Ratio Rank: 5353
Sortino Ratio Rank
YCS Omega Ratio Rank: 6060
Omega Ratio Rank
YCS Calmar Ratio Rank: 7777
Calmar Ratio Rank
YCS Martin Ratio Rank: 6666
Martin Ratio Rank
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.

EURL vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily FTSE Europe Bull 3x Shares (EURL) 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.

EURLYCSDifference

Sharpe ratio

Return per unit of total volatility

0.85

2.05

-1.19

Sortino ratio

Return per unit of downside risk

1.40

2.59

-1.18

Omega ratio

Gain probability vs. loss probability

1.17

1.37

-0.20

Calmar ratio

Return relative to maximum drawdown

1.29

3.95

-2.66

Martin ratio

Return relative to average drawdown

4.13

12.35

-8.22

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EURL vs. YCS - Sharpe Ratio Comparison

The current EURL Sharpe Ratio is 0.85, which is lower than the YCS Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of EURL 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.

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Sharpe Ratios by Period

EURLYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.85

2.05

-1.19

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.11

1.10

-0.99

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.16

0.65

-0.50

Sharpe Ratio (All Time)

Calculated using the full available price history

0.04

0.33

-0.29

Drawdowns

EURL vs. YCS - Drawdown Comparison

The maximum EURL drawdown since its inception was -84.65%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for EURL and YCS.

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Drawdown Indicators

EURLYCSDifference

Max Drawdown

Largest peak-to-trough decline

-84.65%

-49.56%

-35.09%

Max Drawdown (1Y)

Largest decline over 1 year

-33.05%

-8.30%

-24.75%

Max Drawdown (3Y)

Largest decline over 3 years

-38.81%

-23.05%

-15.76%

Max Drawdown (5Y)

Largest decline over 5 years

-75.24%

-27.32%

-47.92%

Max Drawdown (10Y)

Largest decline over 10 years

-84.65%

-27.32%

-57.33%

Current Drawdown

Current decline from peak

-10.00%

-0.04%

-9.96%

Average Drawdown

Average peak-to-trough decline

-36.99%

-19.94%

-17.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.29%

2.66%

+7.63%

Volatility

EURL vs. YCS - Volatility Comparison

Direxion Daily FTSE Europe Bull 3x Shares (EURL) has a higher volatility of 17.40% compared to ProShares UltraShort Yen (YCS) at 2.75%. This indicates that EURL'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

EURLYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

17.40%

2.75%

+14.65%

Volatility (6M)

Calculated over the trailing 6-month period

38.33%

12.36%

+25.97%

Volatility (1Y)

Calculated over the trailing 1-year period

46.18%

17.38%

+28.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

53.23%

21.11%

+32.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

55.80%

19.02%

+36.78%

EURL vs. YCS - Expense Ratio Comparison

EURL has a 1.07% expense ratio, which is higher than YCS's 1.00% expense ratio.

Dividends

EURL vs. YCS - Dividend Comparison

EURL's dividend yield for the trailing twelve months is around 1.39%, while YCS has not paid dividends to shareholders.

PositionTTM202520242023202220212020201920182017
EURL
Direxion Daily FTSE Europe Bull 3x Shares		1.39%1.50%3.51%2.50%1.80%0.33%0.41%1.17%3.07%0.38%
YCS
ProShares UltraShort Yen		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

EURL and YCS have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EURL has higher volatility (17.40%) compared to YCS (2.75%). In terms of maximum drawdown, EURL dropped -84.65% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.32% vs 8.63% for EURL. On fees, YCS is cheaper at 1.00% per year. On volatility, YCS has been the lower-risk option at 2.75%. 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 12.32% return vs 8.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

YCS is cheaper with a 1.00% expense ratio, compared with 1.07% for EURL.

EURL has the higher dividend yield at 1.39%, compared with 0.00% for YCS.

EURL is categorized as Leveraged Equities, while YCS is Leveraged Currency. EURL tracks FTSE Developed Europe Index (300%), while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.07% for EURL and 1.00% for YCS.

YCS currently has the higher Sharpe Ratio (2.05 vs 0.85), 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.

Portfolio Optimizer

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