FRDM vs. YCS
FRDM (Freedom 100 Emerging Markets ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - FRDM is a Emerging Markets Diversified fund tracking the Life + Liberty Freedom 100 Emerging Markets Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 5 years, FRDM returned 19.30%/yr vs 23.54%/yr for YCS. At a correlation of -0.12, they often move in opposite directions. FRDM charges 0.49%/yr vs 1.00%/yr for YCS.
Performance
FRDM vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, FRDM achieves a 44.61% return, which is significantly higher than YCS's 7.17% return.
FRDM
- 1D
- -1.30%
- 1M
- 17.06%
- YTD
- 44.61%
- 6M
- 53.16%
- 1Y
- 97.46%
- 3Y*
- 37.08%
- 5Y*
- 19.30%
- 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%
FRDM vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FRDM Freedom 100 Emerging Markets ETF | 44.61% | 61.27% | 1.70% | 22.77% | -14.45% | 6.13% | 16.90% | 12.33% |
YCS ProShares UltraShort Yen | 7.17% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 1.23% |
Correlation
The correlation between FRDM and YCS is -0.31, 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 | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since May 24, 2019 | -0.12 |
The correlation between FRDM and YCS shifts across timeframes, from -0.31 (1 year) to -0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FRDM vs. YCS — Risk / Return Rank
FRDM
YCS
FRDM vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Freedom 100 Emerging Markets ETF (FRDM) 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.
| FRDM | YCS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 4.00 | 1.92 | +2.08 |
Sortino ratioReturn per unit of downside risk | 4.65 | 2.44 | +2.21 |
Omega ratioGain probability vs. loss probability | 1.67 | 1.35 | +0.32 |
Calmar ratioReturn relative to maximum drawdown | 5.81 | 3.97 | +1.84 |
Martin ratioReturn relative to average drawdown | 23.37 | 12.40 | +10.98 |
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
| FRDM | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.00 | 1.92 | +2.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | 1.12 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.85 | 0.33 | +0.52 |
Drawdowns
FRDM vs. YCS - Drawdown Comparison
The maximum FRDM drawdown since its inception was -40.49%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for FRDM and YCS.
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Drawdown Indicators
| FRDM | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.49% | -49.56% | +9.07% |
Max Drawdown (1Y)Largest decline over 1 year | -16.87% | -8.30% | -8.57% |
Max Drawdown (3Y)Largest decline over 3 years | -16.87% | -23.05% | +6.18% |
Max Drawdown (5Y)Largest decline over 5 years | -29.25% | -27.32% | -1.93% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -1.30% | 0.00% | -1.30% |
Average DrawdownAverage peak-to-trough decline | -7.09% | -19.93% | +12.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.18% | 2.66% | +1.52% |
Volatility
FRDM vs. YCS - Volatility Comparison
Freedom 100 Emerging Markets ETF (FRDM) has a higher volatility of 11.03% compared to ProShares UltraShort Yen (YCS) at 2.75%. This indicates that FRDM'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
| FRDM | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.03% | 2.75% | +8.28% |
Volatility (6M)Calculated over the trailing 6-month period | 21.65% | 12.32% | +9.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.50% | 17.27% | +7.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.80% | 21.10% | -0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.77% | 19.01% | +3.76% |
FRDM vs. YCS - Expense Ratio Comparison
FRDM has a 0.49% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
FRDM vs. YCS - Dividend Comparison
FRDM's dividend yield for the trailing twelve months is around 1.51%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FRDM Freedom 100 Emerging Markets ETF | 1.51% | 2.26% | 2.53% | 2.66% | 2.72% | 2.17% | 1.11% | 1.07% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FRDM and YCS have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRDM has higher volatility (11.03%) compared to YCS (2.75%). In terms of maximum drawdown, FRDM dropped -40.49% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.54% vs 19.30% for FRDM. On fees, FRDM is cheaper at 0.49% 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 19.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FRDM is cheaper with a 0.49% expense ratio, compared with 1.00% for YCS.
FRDM has the higher dividend yield at 1.51%, compared with 0.00% for YCS.
FRDM is categorized as Emerging Markets Diversified, while YCS is Leveraged Currency. FRDM tracks Life + Liberty Freedom 100 Emerging Markets Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Freedom Funds and ProShares. Their fees differ too: 0.49% for FRDM and 1.00% for YCS.
FRDM currently has the higher Sharpe Ratio (4.00 vs 1.92), 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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