FLMX vs. YCS
FLMX (Franklin FTSE Mexico ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - FLMX is a Latin America Equities fund tracking the FTSE Mexico RIC Capped Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 5 years, FLMX returned 12.58%/yr vs 23.52%/yr for YCS. At a correlation of -0.07, they often move in opposite directions. FLMX charges 0.19%/yr vs 1.00%/yr for YCS.
Performance
FLMX vs. YCS - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with FLMX having a 9.45% return and YCS slightly higher at 9.63%.
FLMX
- 1D
- -1.54%
- 1M
- -2.53%
- YTD
- 9.45%
- 6M
- 6.90%
- 1Y
- 33.21%
- 3Y*
- 10.20%
- 5Y*
- 12.58%
- 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%
FLMX vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLMX Franklin FTSE Mexico ETF | 9.45% | 53.62% | -28.45% | 39.35% | 2.40% | 19.58% | -3.50% | 12.13% | -13.32% | -0.96% |
YCS ProShares UltraShort Yen | 9.63% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -1.94% |
Correlation
The correlation between FLMX and YCS is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017 | -0.07 |
Over the past year, the inverse relationship between FLMX and YCS has strengthened: their correlation has moved from -0.07 to -0.28, meaning they now move in opposite directions more often than their long-term average.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FLMX vs. YCS — Risk / Return Rank
FLMX
YCS
FLMX vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Mexico ETF (FLMX) 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.
| FLMX | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.34 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 3.78 | -1.43 |
| Martin ratioReturn relative to average drawdown | 8.16 | 11.93 | -3.76 |
Loading charts...
Drawdowns
FLMX vs. YCS - Drawdown Comparison
The maximum FLMX drawdown since its inception was -50.05%, roughly equal to the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for FLMX and YCS.
Loading charts...
Drawdown Indicators
| FLMX | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.05% | -49.56% | -0.49% |
Max Drawdown (1Y)Largest decline over 1 year | -14.18% | -8.30% | -5.88% |
Max Drawdown (3Y)Largest decline over 3 years | -31.72% | -23.05% | -8.67% |
Max Drawdown (5Y)Largest decline over 5 years | -31.72% | -27.32% | -4.40% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -6.97% | -0.14% | -6.83% |
Average DrawdownAverage peak-to-trough decline | -12.00% | -19.87% | +7.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.08% | 2.65% | +1.43% |
Volatility
FLMX vs. YCS - Volatility Comparison
Franklin FTSE Mexico ETF (FLMX) has a higher volatility of 6.82% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that FLMX'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.
Loading charts...
Volatility by Period
| FLMX | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.82% | 2.25% | +4.57% |
Volatility (6M)Calculated over the trailing 6-month period | 18.06% | 12.19% | +5.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.57% | 16.93% | +4.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.08% | 21.10% | +0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.67% | 18.82% | +5.85% |
FLMX vs. YCS - Expense Ratio Comparison
FLMX has a 0.19% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
FLMX vs. YCS - Dividend Comparison
FLMX's dividend yield for the trailing twelve months is around 1.89%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLMX Franklin FTSE Mexico ETF | 1.89% | 3.99% | 3.31% | 2.90% | 4.22% | 3.15% | 1.48% | 2.95% | 2.51% | 0.31% |
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
FLMX and YCS have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLMX has higher volatility (6.82%) compared to YCS (2.25%). In terms of maximum drawdown, FLMX dropped -50.05% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.52% vs 12.58% for FLMX. On fees, FLMX is cheaper at 0.19% 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 5-year period, YCS has performed better with a 23.52% return vs 12.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLMX is cheaper with a 0.19% expense ratio, compared with 1.00% for YCS.
FLMX has the higher dividend yield at 1.89%, compared with 0.00% for YCS.
FLMX is categorized as Latin America Equities, while YCS is Leveraged Currency. FLMX tracks FTSE Mexico RIC Capped Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Franklin Templeton and ProShares. Their fees differ too: 0.19% for FLMX and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.86 vs 1.55), 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.
Find the right allocation for FLMX and YCS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer