FBDC vs. YCS

Last updated Jun 5, 2026

FBDC (FT Confluence BDC & Specialty Finance Income ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - FBDC is a Financials Equities fund actively managed by First Trust, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). FBDC is actively managed, while YCS is passively managed. At a correlation of -0.08, they often move in opposite directions. FBDC charges 1.35%/yr vs 1.00%/yr for YCS.

Performance

FBDC vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Confluence BDC & Specialty Finance Income ETF (FBDC) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBDC achieves a -7.17% return, which is significantly lower than YCS's 7.17% return.

FBDC

• 1D: 2.59%
• 1M: -5.28%
• YTD: -7.17%
• 6M: -8.43%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

YCS

• 1D: 0.00%
• 1M: 3.39%
• YTD: 7.17%
• 6M: 10.02%
• 1Y: 34.99%
• 3Y*: 20.03%
• 5Y*: 23.54%
• 10Y*: 12.16%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FBDC vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025
FBDC FT Confluence BDC & Specialty Finance Income ETF	-7.17%	-2.43%
YCS ProShares UltraShort Yen	7.17%	22.99%

Correlation

The correlation between FBDC and YCS is -0.08, 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 (All Time) Calculated using the full available price history since Jul 1, 2025	-0.08

Return for Risk

FBDC vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

YCS

YCS Risk / Return Rank: 67
YCS Sharpe Ratio Rank: 62
YCS Sortino Ratio Rank: 55
YCS Omega Ratio Rank: 63
YCS Calmar Ratio Rank: 82
YCS Martin Ratio Rank: 72

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.

FBDC vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Confluence BDC & Specialty Finance Income ETF (FBDC) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FBDC	YCS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.06	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.12	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.56	0.33	-0.89

Drawdowns

FBDC vs. YCS - Drawdown Comparison

The maximum FBDC drawdown since its inception was -20.60%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for FBDC and YCS.

Drawdown Indicators

	FBDC	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-20.60%	-49.56%	+28.96%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.30%	—
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 Drawdown Current decline from peak	-15.10%	0.00%	-15.10%
Average Drawdown Average peak-to-trough decline	-10.16%	-19.93%	+9.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.65%	—

Volatility

Volatility by Period

	FBDC	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.31%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.22%	17.18%	+1.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.22%	21.09%	-2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.22%	19.01%	-0.79%

FBDC vs. YCS - Expense Ratio Comparison

FBDC has a 1.35% expense ratio, which is higher than YCS's 1.00% expense ratio.

Dividends

FBDC vs. YCS - Dividend Comparison

FBDC's dividend yield for the trailing twelve months is around 11.23%, while YCS has not paid dividends to shareholders.

Position	TTM	2025
FBDC FT Confluence BDC & Specialty Finance Income ETF	11.23%	5.41%
YCS ProShares UltraShort Yen	0.00%	0.00%

Frequently Asked Questions

Can I hold both FBDC and YCS in my portfolio?

FBDC and YCS have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FBDC or YCS?

On fees, YCS is cheaper at 1.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBDC or YCS?

YCS is cheaper with a 1.00% expense ratio, compared with 1.35% for FBDC.

Which ETF pays a higher dividend yield, FBDC or YCS?

FBDC has the higher dividend yield at 11.23%, compared with 0.00% for YCS.

What is the main difference between FBDC and YCS?

FBDC is categorized as Financials Equities, while YCS is Leveraged Currency. They also come from different issuers: First Trust and ProShares. Their fees differ too: 1.35% for FBDC and 1.00% for YCS.