FPRO vs. YCS
FPRO (Fidelity Real Estate Investment ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - FPRO is a REIT fund actively managed by Fidelity, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). FPRO is actively managed, while YCS is passively managed. Over the past 5 years, FPRO returned 3.13%/yr vs 23.54%/yr for YCS. At a correlation of -0.19, they often move in opposite directions. FPRO charges 0.59%/yr vs 1.00%/yr for YCS.
Performance
FPRO vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, FPRO achieves a 9.97% return, which is significantly higher than YCS's 7.17% return.
FPRO
- 1D
- 0.12%
- 1M
- -1.08%
- YTD
- 9.97%
- 6M
- 9.24%
- 1Y
- 10.32%
- 3Y*
- 9.14%
- 5Y*
- 3.13%
- 10Y*
- —
YCS
- 1D
- 0.17%
- 1M
- 4.42%
- YTD
- 7.17%
- 6M
- 10.05%
- 1Y
- 32.82%
- 3Y*
- 19.84%
- 5Y*
- 23.54%
- 10Y*
- 12.34%
FPRO vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FPRO Fidelity Real Estate Investment ETF | 9.97% | 2.60% | 5.63% | 10.93% | -25.02% | 40.13% |
YCS ProShares UltraShort Yen | 7.17% | 9.04% | 35.41% | 28.70% | 29.09% | 16.89% |
Correlation
The correlation between FPRO and YCS is -0.36, 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 | -0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.18 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021 | -0.19 |
The correlation between FPRO and YCS shifts across timeframes, from -0.36 (1 year) to -0.18 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FPRO vs. YCS — Risk / Return Rank
FPRO
YCS
FPRO vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Real Estate Investment ETF (FPRO) 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.
| FPRO | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.13 | ||
| Sortino ratioReturn per unit of downside risk | -1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.35 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 3.97 | -2.62 |
| Martin ratioReturn relative to average drawdown | 3.88 | 12.40 | -8.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FPRO | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 1.92 | -1.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 1.12 | -0.95 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.33 | +0.02 |
Drawdowns
FPRO vs. YCS - Drawdown Comparison
The maximum FPRO drawdown since its inception was -32.81%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for FPRO and YCS.
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Drawdown Indicators
| FPRO | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.81% | -49.56% | +16.75% |
Max Drawdown (1Y)Largest decline over 1 year | -7.67% | -8.30% | +0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -16.83% | -23.05% | +6.22% |
Max Drawdown (5Y)Largest decline over 5 years | -32.81% | -27.32% | -5.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -2.73% | 0.00% | -2.73% |
Average DrawdownAverage peak-to-trough decline | -12.66% | -19.93% | +7.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 2.66% | +0.01% |
Volatility
FPRO vs. YCS - Volatility Comparison
Fidelity Real Estate Investment ETF (FPRO) has a higher volatility of 3.54% compared to ProShares UltraShort Yen (YCS) at 2.75%. This indicates that FPRO'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.
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Volatility by Period
| FPRO | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.54% | 2.75% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 9.13% | 12.32% | -3.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.10% | 17.27% | -4.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.62% | 21.10% | -2.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.37% | 19.01% | -0.64% |
FPRO vs. YCS - Expense Ratio Comparison
FPRO has a 0.59% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
FPRO vs. YCS - Dividend Comparison
FPRO's dividend yield for the trailing twelve months is around 2.57%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FPRO Fidelity Real Estate Investment ETF | 2.57% | 2.69% | 2.50% | 2.83% | 2.67% | 1.69% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FPRO and YCS have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPRO has higher volatility (3.54%) compared to YCS (2.75%). In terms of maximum drawdown, FPRO dropped -32.81% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.54% vs 3.13% for FPRO. On fees, FPRO is cheaper at 0.59% per year. On volatility, YCS has been the lower-risk option at 2.75%. 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 23.54% return vs 3.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FPRO is cheaper with a 0.59% expense ratio, compared with 1.00% for YCS.
FPRO has the higher dividend yield at 2.57%, compared with 0.00% for YCS.
FPRO is categorized as REIT, while YCS is Leveraged Currency. They also come from different issuers: Fidelity and ProShares. Their fees differ too: 0.59% for FPRO and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.92 vs 0.79), 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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