FGDL vs. YCS
FGDL (Franklin Responsibly Sourced Gold ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - FGDL is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 3 years, FGDL returned 27.63%/yr vs 16.96%/yr for YCS. Their -0.37 correlation means they have often moved in opposite directions in the past. FGDL charges 0.15%/yr vs 1.00%/yr for YCS.
Performance
FGDL vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, FGDL achieves a -6.34% return, which is significantly lower than YCS's 4.11% return.
FGDL
- 1D
- -0.15%
- 1M
- -1.51%
- 6M
- -13.15%
- YTD
- -6.34%
- 1Y
- 20.61%
- 3Y*
- 27.63%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 21.59%
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) |
|---|---|---|---|
| $970.05K | $896.65K | $1.27M | |
| $2.37M | $2.29M | $1.56M |
FGDL vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FGDL Franklin Responsibly Sourced Gold ETF | -6.34% | 64.15% | 27.31% | 12.92% | 0.72% |
YCS ProShares UltraShort Yen | 4.11% | 9.04% | 35.41% | 28.70% | -7.47% |
Correlation
The correlation between FGDL and YCS is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.21 |
Correlation (3Y) Balances recent behavior with more history. | -0.27 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022 | -0.37 |
The correlation between FGDL and YCS shifts across timeframes, from -0.37 (all time) to -0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FGDL vs. YCS — Risk / Return Rank
FGDL
YCS
FGDL vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Responsibly Sourced Gold ETF (FGDL) 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.
| FGDL | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.26 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.78 | 2.53 | -1.75 |
| Martin ratioReturn relative to average drawdown | 1.66 | 9.53 | -7.87 |
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Drawdowns
FGDL vs. YCS - Drawdown Comparison
The maximum FGDL drawdown since its inception was -26.58%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for FGDL and YCS.
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Drawdown Indicators
| FGDL | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.58% | -49.56% | +22.98% |
Max Drawdown (1Y)Largest decline over 1 year | -26.58% | -8.48% | -18.10% |
Max Drawdown (3Y)Largest decline over 3 years | -26.58% | -23.05% | -3.53% |
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 | -25.16% | -8.48% | -16.68% |
Average DrawdownAverage peak-to-trough decline | -4.65% | -19.75% | +15.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.43% | 2.24% | +10.19% |
Volatility
FGDL vs. YCS - Volatility Comparison
Franklin Responsibly Sourced Gold ETF (FGDL) and ProShares UltraShort Yen (YCS) have volatilities of 5.87% and 5.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGDL | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.87% | 5.88% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 21.00% | 11.84% | +9.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.25% | 16.43% | +11.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.39% | 21.21% | -1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.39% | 18.61% | +0.78% |
FGDL vs. YCS - Expense Ratio Comparison
FGDL has a 0.15% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
FGDL vs. YCS - Dividend Comparison
Neither FGDL nor YCS has paid dividends to shareholders.
Frequently Asked Questions
FGDL and YCS have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCS has higher volatility (5.88%) compared to FGDL (5.87%). In terms of maximum drawdown, FGDL dropped -26.58% vs YCS's -49.56%.
On 3-year performance, FGDL leads with 27.63% vs 16.96% for YCS. On fees, FGDL is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FGDL has performed better with a 27.63% return vs 16.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FGDL is cheaper with a 0.15% expense ratio, compared with 1.00% for YCS.
FGDL and YCS have nearly identical dividend yields, around 0.00%.
FGDL is categorized as Gold, while YCS is Leveraged Currency. FGDL tracks LBMA Gold Price PM ($/ozt), while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Franklin Templeton and ProShares. Their fees differ too: 0.15% for FGDL and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.31 vs 0.73), 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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