FYC vs. YCS
FYC (First Trust Small Cap Growth AlphaDEX Fund) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - FYC is a Small Cap Growth Equities fund tracking the NASDAQ AlphaDEX Small Cap Growth Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, FYC returned 15.18%/yr vs 13.63%/yr for YCS. At a 0.15 correlation, their price movements are largely independent. FYC charges 0.71%/yr vs 1.00%/yr for YCS.
Performance
FYC vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, FYC achieves a 26.11% return, which is significantly higher than YCS's 9.78% return. Over the past 10 years, FYC has outperformed YCS with an annualized return of 15.18%, while YCS has yielded a comparatively lower 13.63% annualized return.
FYC
- 1D
- 0.66%
- 1M
- 5.93%
- YTD
- 26.11%
- 6M
- 22.06%
- 1Y
- 60.03%
- 3Y*
- 28.46%
- 5Y*
- 11.13%
- 10Y*
- 15.18%
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%
FYC vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FYC First Trust Small Cap Growth AlphaDEX Fund | 26.11% | 24.24% | 23.99% | 14.52% | -25.86% | 21.64% | 32.34% | 16.79% | -5.54% | 22.97% |
YCS ProShares UltraShort Yen | 9.78% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between FYC 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 | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2011 | 0.15 |
The correlation between FYC and YCS shifts across timeframes, from -0.18 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FYC vs. YCS — Risk / Return Rank
FYC
YCS
FYC vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Small Cap Growth AlphaDEX Fund (FYC) 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.
| FYC | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.35 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 5.76 | 3.79 | +1.96 |
| Martin ratioReturn relative to average drawdown | 20.86 | 11.86 | +9.00 |
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Drawdowns
FYC vs. YCS - Drawdown Comparison
The maximum FYC drawdown since its inception was -47.85%, roughly equal to the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for FYC and YCS.
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Drawdown Indicators
| FYC | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.85% | -49.56% | +1.71% |
Max Drawdown (1Y)Largest decline over 1 year | -10.48% | -8.30% | -2.18% |
Max Drawdown (3Y)Largest decline over 3 years | -27.79% | -23.05% | -4.74% |
Max Drawdown (5Y)Largest decline over 5 years | -35.37% | -27.32% | -8.05% |
Max Drawdown (10Y)Largest decline over 10 years | -47.85% | -27.32% | -20.53% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -9.63% | -19.88% | +10.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 2.65% | +0.24% |
Volatility
FYC vs. YCS - Volatility Comparison
First Trust Small Cap Growth AlphaDEX Fund (FYC) has a higher volatility of 6.93% compared to ProShares UltraShort Yen (YCS) at 2.22%. This indicates that FYC'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
| FYC | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.93% | 2.22% | +4.71% |
Volatility (6M)Calculated over the trailing 6-month period | 15.77% | 12.19% | +3.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.68% | 16.96% | +4.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.73% | 21.10% | +2.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.64% | 18.96% | +5.68% |
FYC vs. YCS - Expense Ratio Comparison
FYC has a 0.71% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
FYC vs. YCS - Dividend Comparison
FYC's dividend yield for the trailing twelve months is around 0.06%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FYC First Trust Small Cap Growth AlphaDEX Fund | 0.06% | 0.08% | 0.72% | 0.58% | 0.00% | 0.63% | 0.12% | 0.39% | 0.09% | 0.10% | 0.31% | 0.21% |
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
FYC 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.
FYC has higher volatility (6.93%) compared to YCS (2.22%). In terms of maximum drawdown, FYC dropped -47.85% vs YCS's -49.56%.
On 10-year performance, FYC leads with 15.18% vs 13.63% for YCS. On fees, FYC is cheaper at 0.71% 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 10-year period, FYC has performed better with a 15.18% return vs 13.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FYC is cheaper with a 0.71% expense ratio, compared with 1.00% for YCS.
FYC has the higher dividend yield at 0.06%, compared with 0.00% for YCS.
FYC is categorized as Small Cap Growth Equities, while YCS is Leveraged Currency. FYC tracks NASDAQ AlphaDEX Small Cap Growth Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.71% for FYC and 1.00% for YCS.
FYC currently has the higher Sharpe Ratio (2.79 vs 1.86), 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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