FNDE vs. YCS
FNDE (Schwab Fundamental Emerging Markets Large Company Index ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - FNDE is a Emerging Markets Equities fund tracking the Russell Fundamental Emerging Markets Large Company Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, FNDE returned 11.11%/yr vs 12.16%/yr for YCS. At a 0.02 correlation, their price movements are largely independent. FNDE charges 0.39%/yr vs 1.00%/yr for YCS.
Performance
FNDE vs. YCS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FNDE achieves a 15.11% return, which is significantly higher than YCS's 7.17% return. Over the past 10 years, FNDE has underperformed YCS with an annualized return of 11.11%, while YCS has yielded a comparatively higher 12.16% annualized return.
FNDE
- 1D
- -0.38%
- 1M
- 1.39%
- YTD
- 15.11%
- 6M
- 15.70%
- 1Y
- 35.50%
- 3Y*
- 21.46%
- 5Y*
- 9.49%
- 10Y*
- 11.11%
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%
FNDE vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNDE Schwab Fundamental Emerging Markets Large Company Index ETF | 15.11% | 29.46% | 12.10% | 14.99% | -15.58% | 14.41% | -2.77% | 19.75% | -10.37% | 26.77% |
YCS ProShares UltraShort Yen | 7.17% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between FNDE and YCS is -0.32, 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 | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2013 | 0.02 |
The correlation between FNDE and YCS shifts across timeframes, from -0.32 (1 year) to 0.02 (all time), 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
FNDE vs. YCS — Risk / Return Rank
FNDE
YCS
FNDE vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE) 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.
| FNDE | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.38 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.49 | 4.23 | -0.74 |
| Martin ratioReturn relative to average drawdown | 13.19 | 13.22 | -0.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| FNDE | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.38 | 2.06 | +0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 1.12 | -0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.64 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.33 | +0.04 |
Drawdowns
FNDE vs. YCS - Drawdown Comparison
The maximum FNDE drawdown since its inception was -43.55%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for FNDE and YCS.
Loading charts...
Drawdown Indicators
| FNDE | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.55% | -49.56% | +6.01% |
Max Drawdown (1Y)Largest decline over 1 year | -10.23% | -8.30% | -1.93% |
Max Drawdown (3Y)Largest decline over 3 years | -18.40% | -23.05% | +4.65% |
Max Drawdown (5Y)Largest decline over 5 years | -29.44% | -27.32% | -2.12% |
Max Drawdown (10Y)Largest decline over 10 years | -39.93% | -27.32% | -12.61% |
Current DrawdownCurrent decline from peak | -1.98% | 0.00% | -1.98% |
Average DrawdownAverage peak-to-trough decline | -11.71% | -19.93% | +8.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.70% | 2.65% | +0.05% |
Volatility
FNDE vs. YCS - Volatility Comparison
Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE) has a higher volatility of 5.23% compared to ProShares UltraShort Yen (YCS) at 2.62%. This indicates that FNDE'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
| FNDE | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.23% | 2.62% | +2.61% |
Volatility (6M)Calculated over the trailing 6-month period | 12.31% | 12.31% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.00% | 17.18% | -2.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.91% | 21.09% | -4.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.30% | 19.01% | +0.29% |
FNDE vs. YCS - Expense Ratio Comparison
FNDE has a 0.39% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
FNDE vs. YCS - Dividend Comparison
FNDE's dividend yield for the trailing twelve months is around 3.64%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNDE Schwab Fundamental Emerging Markets Large Company Index ETF | 3.64% | 4.19% | 4.82% | 4.74% | 5.59% | 4.32% | 2.50% | 3.47% | 2.98% | 2.05% | 1.65% | 2.02% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FNDE and YCS have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNDE has higher volatility (5.23%) compared to YCS (2.62%). In terms of maximum drawdown, FNDE dropped -43.55% vs YCS's -49.56%.
On 10-year performance, YCS leads with 12.16% vs 11.11% for FNDE. On fees, FNDE is cheaper at 0.39% per year. On volatility, YCS has been the lower-risk option at 2.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, YCS has performed better with a 12.16% return vs 11.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNDE is cheaper with a 0.39% expense ratio, compared with 1.00% for YCS.
FNDE has the higher dividend yield at 3.64%, compared with 0.00% for YCS.
FNDE is categorized as Emerging Markets Equities, while YCS is Leveraged Currency. FNDE tracks Russell Fundamental Emerging Markets Large Company Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Charles Schwab and ProShares. Their fees differ too: 0.39% for FNDE and 1.00% for YCS.
FNDE currently has the higher Sharpe Ratio (2.38 vs 2.06), 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 FNDE 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