FMQQ vs. YCS
FMQQ (FMQQ The Next Frontier Internet & Ecommerce ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - FMQQ is a Emerging Markets Diversified fund tracking the FMQQ The Next Frontier Internet & Ecommerce Index - Benchmark TR Net, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 3 years, FMQQ returned 3.16%/yr vs 18.43%/yr for YCS. At a correlation of -0.12, they often move in opposite directions. FMQQ charges 0.86%/yr vs 1.00%/yr for YCS.
Performance
FMQQ vs. YCS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FMQQ achieves a -16.00% return, which is significantly lower than YCS's 9.78% return.
FMQQ
- 1D
- -0.35%
- 1M
- 1.84%
- YTD
- -16.00%
- 6M
- -15.95%
- 1Y
- -18.84%
- 3Y*
- 3.16%
- 5Y*
- —
- 10Y*
- —
YCS
- 1D
- 0.40%
- 1M
- 3.71%
- YTD
- 9.78%
- 6M
- 9.63%
- 1Y
- 31.36%
- 3Y*
- 18.43%
- 5Y*
- 23.50%
- 10Y*
- 13.63%
FMQQ vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF | -16.00% | 10.77% | 12.45% | 15.15% | -54.03% | -16.57% |
YCS ProShares UltraShort Yen | 9.78% | 9.04% | 35.41% | 28.70% | 29.09% | 7.01% |
Correlation
The correlation between FMQQ and YCS is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021 | -0.12 |
The correlation between FMQQ and YCS shifts across timeframes, from -0.22 (1 year) to -0.11 (3 years), reflecting how their relationship changes across market environments.
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
FMQQ vs. YCS — Risk / Return Rank
FMQQ
YCS
FMQQ vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FMQQ The Next Frontier Internet & Ecommerce ETF (FMQQ) 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.
| FMQQ | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.85 | ||
| Sortino ratioReturn per unit of downside risk | -3.73 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.35 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | 3.79 | -4.41 |
| Martin ratioReturn relative to average drawdown | -1.16 | 11.86 | -13.02 |
Loading charts...
Drawdowns
FMQQ vs. YCS - Drawdown Comparison
The maximum FMQQ drawdown since its inception was -64.51%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for FMQQ and YCS.
Loading charts...
Drawdown Indicators
| FMQQ | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.51% | -49.56% | -14.95% |
Max Drawdown (1Y)Largest decline over 1 year | -30.82% | -8.30% | -22.52% |
Max Drawdown (3Y)Largest decline over 3 years | -30.82% | -23.05% | -7.77% |
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 | -54.59% | 0.00% | -54.59% |
Average DrawdownAverage peak-to-trough decline | -49.41% | -19.88% | -29.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.25% | 2.65% | +13.60% |
Volatility
FMQQ vs. YCS - Volatility Comparison
FMQQ The Next Frontier Internet & Ecommerce ETF (FMQQ) has a higher volatility of 5.87% compared to ProShares UltraShort Yen (YCS) at 2.22%. This indicates that FMQQ'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
| FMQQ | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.87% | 2.22% | +3.65% |
Volatility (6M)Calculated over the trailing 6-month period | 16.13% | 12.19% | +3.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.23% | 16.96% | +2.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.80% | 21.10% | +3.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.80% | 18.96% | +5.84% |
FMQQ vs. YCS - Expense Ratio Comparison
FMQQ has a 0.86% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
FMQQ vs. YCS - Dividend Comparison
FMQQ's dividend yield for the trailing twelve months is around 0.73%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF | 0.73% | 0.61% | 0.45% | 0.11% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FMQQ and YCS have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMQQ has higher volatility (5.87%) compared to YCS (2.22%). In terms of maximum drawdown, FMQQ dropped -64.51% vs YCS's -49.56%.
On 3-year performance, YCS leads with 18.43% vs 3.16% for FMQQ. On fees, FMQQ is cheaper at 0.86% per year. On volatility, YCS has been the lower-risk option at 2.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, YCS has performed better with a 18.43% return vs 3.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FMQQ is cheaper with a 0.86% expense ratio, compared with 1.00% for YCS.
FMQQ has the higher dividend yield at 0.73%, compared with 0.00% for YCS.
FMQQ is categorized as Emerging Markets Diversified, while YCS is Leveraged Currency. FMQQ tracks FMQQ The Next Frontier Internet & Ecommerce Index - Benchmark TR Net, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: EMQQ and ProShares. Their fees differ too: 0.86% for FMQQ and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.86 vs -0.99), 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 FMQQ 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