FYX vs. YCS
FYX (First Trust Small Cap Core AlphaDEX Fund) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - FYX is a Small Cap Blend Equities fund tracking the Nasdaq AlphaDEX Small Cap Core Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, FYX returned 12.73%/yr vs 13.18%/yr for YCS. At a 0.17 correlation, their price movements are largely independent. FYX charges 0.63%/yr vs 1.00%/yr for YCS.
Performance
FYX vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, FYX achieves a 22.84% return, which is significantly higher than YCS's 9.35% return. Both investments have delivered pretty close results over the past 10 years, with FYX having a 12.73% annualized return and YCS not far ahead at 13.18%.
FYX
- 1D
- 1.62%
- 1M
- 5.11%
- YTD
- 22.84%
- 6M
- 20.92%
- 1Y
- 49.36%
- 3Y*
- 20.67%
- 5Y*
- 10.06%
- 10Y*
- 12.73%
YCS
- 1D
- 0.88%
- 1M
- 3.65%
- YTD
- 9.35%
- 6M
- 8.16%
- 1Y
- 30.84%
- 3Y*
- 19.46%
- 5Y*
- 23.76%
- 10Y*
- 13.18%
FYX vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FYX First Trust Small Cap Core AlphaDEX Fund | 22.84% | 12.68% | 12.22% | 18.30% | -18.41% | 27.43% | 19.48% | 21.32% | -10.64% | 14.34% |
YCS ProShares UltraShort Yen | 9.35% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between FYX and YCS is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | 0.17 |
The correlation between FYX and YCS shifts across timeframes, from -0.21 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FYX vs. YCS — Risk / Return Rank
FYX
YCS
FYX vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Small Cap Core AlphaDEX Fund (FYX) 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.
| FYX | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.36 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 6.57 | 3.98 | +2.59 |
| Martin ratioReturn relative to average drawdown | 21.38 | 12.43 | +8.95 |
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Drawdowns
FYX vs. YCS - Drawdown Comparison
The maximum FYX drawdown since its inception was -61.80%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for FYX and YCS.
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Drawdown Indicators
| FYX | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.80% | -49.56% | -12.24% |
Max Drawdown (1Y)Largest decline over 1 year | -7.56% | -8.30% | +0.74% |
Max Drawdown (3Y)Largest decline over 3 years | -27.91% | -23.05% | -4.86% |
Max Drawdown (5Y)Largest decline over 5 years | -27.91% | -27.32% | -0.59% |
Max Drawdown (10Y)Largest decline over 10 years | -48.82% | -27.32% | -21.50% |
Current DrawdownCurrent decline from peak | -0.20% | 0.00% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -10.86% | -19.88% | +9.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 2.65% | -0.33% |
Volatility
FYX vs. YCS - Volatility Comparison
First Trust Small Cap Core AlphaDEX Fund (FYX) has a higher volatility of 5.24% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that FYX'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
| FYX | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.24% | 2.25% | +2.99% |
Volatility (6M)Calculated over the trailing 6-month period | 12.33% | 12.24% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.42% | 16.99% | +1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.98% | 21.09% | +0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.23% | 18.98% | +5.25% |
FYX vs. YCS - Expense Ratio Comparison
FYX has a 0.63% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
FYX vs. YCS - Dividend Comparison
FYX's dividend yield for the trailing twelve months is around 0.67%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FYX First Trust Small Cap Core AlphaDEX Fund | 0.67% | 0.64% | 1.62% | 1.22% | 0.95% | 0.99% | 0.65% | 1.12% | 1.08% | 0.60% | 0.94% | 0.88% |
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
FYX and YCS have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FYX has higher volatility (5.24%) compared to YCS (2.25%). In terms of maximum drawdown, FYX dropped -61.80% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.18% vs 12.73% for FYX. On fees, FYX is cheaper at 0.63% per year. On volatility, YCS has been the lower-risk option at 2.25%. 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 13.18% return vs 12.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FYX is cheaper with a 0.63% expense ratio, compared with 1.00% for YCS.
FYX has the higher dividend yield at 0.67%, compared with 0.00% for YCS.
FYX is categorized as Small Cap Blend Equities, while YCS is Leveraged Currency. FYX tracks Nasdaq AlphaDEX Small Cap Core Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.63% for FYX and 1.00% for YCS.
FYX currently has the higher Sharpe Ratio (2.70 vs 1.95), 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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