FUMB vs. YCS
FUMB (First Trust Ultra Short Duration Municipal ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - FUMB is a Municipal Bonds fund actively managed by First Trust, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). FUMB is actively managed, while YCS is passively managed. Over the past 5 years, FUMB returned 1.96%/yr vs 23.54%/yr for YCS. At a correlation of -0.13, they often move in opposite directions. FUMB charges 0.45%/yr vs 1.00%/yr for YCS.
Performance
FUMB vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, FUMB achieves a 1.07% return, which is significantly lower than YCS's 7.17% return.
FUMB
- 1D
- -0.03%
- 1M
- 0.15%
- YTD
- 1.07%
- 6M
- 1.30%
- 1Y
- 2.55%
- 3Y*
- 2.98%
- 5Y*
- 1.96%
- 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%
FUMB vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FUMB First Trust Ultra Short Duration Municipal ETF | 1.07% | 2.78% | 3.05% | 2.84% | -0.03% | 0.38% | 1.25% | 1.76% | 0.30% |
YCS ProShares UltraShort Yen | 7.17% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -5.31% |
Correlation
The correlation between FUMB and YCS is -0.18, 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 | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2018 | -0.13 |
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Return for Risk
FUMB vs. YCS — Risk / Return Rank
FUMB
YCS
FUMB vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Ultra Short Duration Municipal ETF (FUMB) 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.
| FUMB | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.46 | ||
| Sortino ratioReturn per unit of downside risk | +2.90 | ||
| Omega ratioGain probability vs. loss probability | 1.76 | 1.35 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 11.70 | 3.97 | +7.73 |
| Martin ratioReturn relative to average drawdown | 44.37 | 12.40 | +31.97 |
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
| FUMB | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.38 | 1.92 | +1.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.70 | 1.12 | +0.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 0.33 | +0.67 |
Drawdowns
FUMB vs. YCS - Drawdown Comparison
The maximum FUMB drawdown since its inception was -2.68%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for FUMB and YCS.
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Drawdown Indicators
| FUMB | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.68% | -49.56% | +46.88% |
Max Drawdown (1Y)Largest decline over 1 year | -0.22% | -8.30% | +8.08% |
Max Drawdown (3Y)Largest decline over 3 years | -0.60% | -23.05% | +22.45% |
Max Drawdown (5Y)Largest decline over 5 years | -1.25% | -27.32% | +26.07% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -0.03% | 0.00% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -19.93% | +19.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 2.66% | -2.60% |
Volatility
FUMB vs. YCS - Volatility Comparison
The current volatility for First Trust Ultra Short Duration Municipal ETF (FUMB) is 0.20%, while ProShares UltraShort Yen (YCS) has a volatility of 2.75%. This indicates that FUMB experiences smaller price fluctuations and is considered to be less risky 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
| FUMB | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.20% | 2.75% | -2.55% |
Volatility (6M)Calculated over the trailing 6-month period | 0.53% | 12.32% | -11.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.76% | 17.27% | -16.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.16% | 21.10% | -19.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.77% | 19.01% | -17.24% |
FUMB vs. YCS - Expense Ratio Comparison
FUMB has a 0.45% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
FUMB vs. YCS - Dividend Comparison
FUMB's dividend yield for the trailing twelve months is around 2.80%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FUMB First Trust Ultra Short Duration Municipal ETF | 2.80% | 2.90% | 2.86% | 2.24% | 1.02% | 0.43% | 0.94% | 1.74% | 0.15% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FUMB and YCS have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCS has higher volatility (2.75%) compared to FUMB (0.20%). In terms of maximum drawdown, FUMB dropped -2.68% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.54% vs 1.96% for FUMB. On fees, FUMB is cheaper at 0.45% per year. On volatility, FUMB has been the lower-risk option at 0.20%. 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 1.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FUMB is cheaper with a 0.45% expense ratio, compared with 1.00% for YCS.
FUMB has the higher dividend yield at 2.80%, compared with 0.00% for YCS.
FUMB is categorized as Municipal Bonds, while YCS is Leveraged Currency. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.45% for FUMB and 1.00% for YCS.
FUMB currently has the higher Sharpe Ratio (3.38 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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