EWMC vs. YCS
EWMC (Invesco S&P MidCap 400 GARP ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - EWMC is a Small Cap Blend Equities fund tracking the S&P MidCap 400 GARP Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, EWMC returned 11.23%/yr vs 13.62%/yr for YCS. At a 0.16 correlation, their price movements are largely independent. EWMC charges 0.35%/yr vs 1.00%/yr for YCS.
Performance
EWMC vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, EWMC achieves a 6.14% return, which is significantly lower than YCS's 9.63% return. Over the past 10 years, EWMC has underperformed YCS with an annualized return of 11.23%, while YCS has yielded a comparatively higher 13.62% annualized return.
EWMC
- 1D
- 0.27%
- 1M
- 0.27%
- YTD
- 6.14%
- 6M
- 4.64%
- 1Y
- 19.85%
- 3Y*
- 14.49%
- 5Y*
- 7.76%
- 10Y*
- 11.23%
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%
EWMC vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWMC Invesco S&P MidCap 400 GARP ETF | 6.14% | 7.81% | 15.67% | 18.79% | -11.63% | 26.35% | 15.60% | 23.05% | -12.45% | 13.05% |
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 EWMC and YCS is -0.09, 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 | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2010 | 0.16 |
The correlation between EWMC and YCS shifts across timeframes, from -0.09 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EWMC vs. YCS — Risk / Return Rank
EWMC
YCS
EWMC vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400 GARP ETF (EWMC) 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.
| EWMC | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.34 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 3.78 | -1.17 |
| Martin ratioReturn relative to average drawdown | 7.66 | 11.93 | -4.27 |
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Drawdowns
EWMC vs. YCS - Drawdown Comparison
The maximum EWMC drawdown since its inception was -43.12%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for EWMC and YCS.
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Drawdown Indicators
| EWMC | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.12% | -49.56% | +6.44% |
Max Drawdown (1Y)Largest decline over 1 year | -7.62% | -8.30% | +0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -28.09% | -23.05% | -5.04% |
Max Drawdown (5Y)Largest decline over 5 years | -28.09% | -27.32% | -0.77% |
Max Drawdown (10Y)Largest decline over 10 years | -43.12% | -27.32% | -15.80% |
Current DrawdownCurrent decline from peak | -2.49% | -0.14% | -2.35% |
Average DrawdownAverage peak-to-trough decline | -5.69% | -19.87% | +14.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 2.65% | -0.05% |
Volatility
EWMC vs. YCS - Volatility Comparison
Invesco S&P MidCap 400 GARP ETF (EWMC) has a higher volatility of 3.73% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that EWMC'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
| EWMC | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.73% | 2.25% | +1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 10.40% | 12.19% | -1.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.15% | 16.93% | -0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.88% | 21.10% | -0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.22% | 18.82% | +3.40% |
EWMC vs. YCS - Expense Ratio Comparison
EWMC has a 0.35% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
EWMC vs. YCS - Dividend Comparison
EWMC's dividend yield for the trailing twelve months is around 0.75%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWMC Invesco S&P MidCap 400 GARP ETF | 0.75% | 1.19% | 0.95% | 0.96% | 1.28% | 0.92% | 1.16% | 1.25% | 1.50% | 1.14% | 1.00% | 1.43% |
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
EWMC 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.
EWMC has higher volatility (3.73%) compared to YCS (2.25%). In terms of maximum drawdown, EWMC dropped -43.12% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.62% vs 11.23% for EWMC. On fees, EWMC is cheaper at 0.35% 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 11.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EWMC is cheaper with a 0.35% expense ratio, compared with 1.00% for YCS.
EWMC has the higher dividend yield at 0.75%, compared with 0.00% for YCS.
EWMC is categorized as Small Cap Blend Equities, while YCS is Leveraged Currency. EWMC tracks S&P MidCap 400 GARP Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.35% for EWMC and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.86 vs 1.24), 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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