FJUL vs. YCS

Last updated Jun 24, 2026

FJUL (FT Cboe Vest U.S. Equity Buffer ETF - July) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - FJUL is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index July, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 5 years, FJUL returned 11.37%/yr vs 23.52%/yr for YCS. At a correlation of -0.02, they often move in opposite directions. FJUL charges 0.85%/yr vs 1.00%/yr for YCS.

Performance

FJUL vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Buffer ETF - July (FJUL) 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, FJUL achieves a 5.86% return, which is significantly lower than YCS's 9.63% return.

FJUL

• 1D: -0.31%
• 1M: 0.51%
• YTD: 5.86%
• 6M: 5.62%
• 1Y: 17.51%
• 3Y*: 15.77%
• 5Y*: 11.37%
• 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%

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

FJUL vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FJUL FT Cboe Vest U.S. Equity Buffer ETF - July	5.86%	14.19%	17.65%	21.33%	-6.25%	10.80%	8.59%
YCS ProShares UltraShort Yen	9.63%	9.04%	35.41%	28.70%	29.09%	22.38%	-7.24%

Correlation

The correlation between FJUL and YCS is -0.18, 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	-0.18
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Jul 20, 2020	-0.02

The correlation between FJUL and YCS shifts across timeframes, from -0.18 (1 year) to -0.02 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FJUL vs. YCS — Risk / Return Rank

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

FJUL

FJUL Risk / Return Rank: 85
FJUL Sharpe Ratio Rank: 86
FJUL Sortino Ratio Rank: 89
FJUL Omega Ratio Rank: 89
FJUL Calmar Ratio Rank: 74
FJUL Martin Ratio Rank: 89

YCS

YCS Risk / Return Rank: 63
YCS Sharpe Ratio Rank: 58
YCS Sortino Ratio Rank: 51
YCS Omega Ratio Rank: 59
YCS Calmar Ratio Rank: 77
YCS Martin Ratio Rank: 69

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.

FJUL vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Buffer ETF - July (FJUL) 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.

	FJUL	YCS	Difference
Sharpe ratio: Return per unit of total volatility	2.55	1.86	+0.70
Sortino ratio: Return per unit of downside risk	3.71	2.36	+1.35
Omega ratio: Gain probability vs. loss probability	1.51	1.34	+0.17
Calmar ratio: Return relative to maximum drawdown	3.45	3.78	-0.33
Martin ratio: Return relative to average drawdown	18.14	11.93	+6.21

FJUL vs. YCS - Sharpe Ratio Comparison

The current FJUL Sharpe Ratio is 2.55, which is higher than the YCS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of FJUL 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.

Drawdowns

FJUL vs. YCS - Drawdown Comparison

The maximum FJUL drawdown since its inception was -13.08%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for FJUL and YCS.

Drawdown Indicators

	FJUL	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-13.08%	-49.56%	+36.48%
Max Drawdown (1Y) Largest decline over 1 year	-5.10%	-8.30%	+3.20%
Max Drawdown (3Y) Largest decline over 3 years	-13.08%	-23.05%	+9.97%
Max Drawdown (5Y) Largest decline over 5 years	-13.08%	-27.32%	+14.24%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.32%	—
Current Drawdown Current decline from peak	-0.35%	-0.14%	-0.21%
Average Drawdown Average peak-to-trough decline	-1.86%	-19.87%	+18.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	2.65%	-1.68%

Volatility

FJUL vs. YCS - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Buffer ETF - July (FJUL) is 1.27%, while ProShares UltraShort Yen (YCS) has a volatility of 2.25%. This indicates that FJUL experiences smaller price fluctuations and is considered to be less risky than YCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FJUL	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.27%	2.25%	-0.98%
Volatility (6M) Calculated over the trailing 6-month period	5.17%	12.19%	-7.02%
Volatility (1Y) Calculated over the trailing 1-year period	6.93%	16.93%	-10.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.97%	21.10%	-10.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.53%	18.82%	-8.29%

FJUL vs. YCS - Expense Ratio Comparison

FJUL has a 0.85% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

FJUL vs. YCS - Dividend Comparison

Neither FJUL nor YCS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FJUL and YCS in my portfolio?

FJUL and YCS have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FJUL or YCS?

YCS has higher volatility (2.25%) compared to FJUL (1.27%). In terms of maximum drawdown, FJUL dropped -13.08% vs YCS's -49.56%.

Which ETF is better, FJUL or YCS?

On 5-year performance, YCS leads with 23.52% vs 11.37% for FJUL. On fees, FJUL is cheaper at 0.85% per year. On volatility, FJUL has been the lower-risk option at 1.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FJUL or YCS?

Over the 5-year period, YCS has performed better with a 23.52% return vs 11.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FJUL or YCS?

FJUL is cheaper with a 0.85% expense ratio, compared with 1.00% for YCS.

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

FJUL and YCS have nearly identical dividend yields, around 0.00%.

What is the main difference between FJUL and YCS?

FJUL is categorized as Options Trading, while YCS is Leveraged Currency. FJUL tracks Cboe S&P 500 Buffer Protect Index July, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: FT Vest and ProShares. Their fees differ too: 0.85% for FJUL and 1.00% for YCS.

Which has better risk-adjusted returns?

FJUL currently has the higher Sharpe Ratio (2.55 vs 1.86), 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.