GLDM vs. YCS
GLDM (SPDR Gold MiniShares Trust) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - GLDM is a Gold fund tracking the LBMA Gold Price PM, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 5 years, GLDM returned 17.81%/yr vs 23.63%/yr for YCS. At a correlation of -0.40, they often move in opposite directions. GLDM charges 0.10%/yr vs 1.00%/yr for YCS.
Performance
GLDM vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, GLDM achieves a 0.06% return, which is significantly lower than YCS's 7.54% return.
GLDM
- 1D
- -3.67%
- 1M
- -8.00%
- YTD
- 0.06%
- 6M
- 2.68%
- 1Y
- 28.49%
- 3Y*
- 29.91%
- 5Y*
- 17.81%
- 10Y*
- —
YCS
- 1D
- 0.35%
- 1M
- 5.70%
- YTD
- 7.54%
- 6M
- 10.01%
- 1Y
- 34.01%
- 3Y*
- 20.09%
- 5Y*
- 23.63%
- 10Y*
- 12.25%
GLDM vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | 0.06% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.10% | 1.84% |
YCS ProShares UltraShort Yen | 7.54% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | 1.78% |
Correlation
The correlation between GLDM and YCS is -0.24, 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 | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2018 | -0.40 |
The correlation between GLDM and YCS shifts across timeframes, from -0.40 (all time) to -0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLDM vs. YCS — Risk / Return Rank
GLDM
YCS
GLDM vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) 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.
| GLDM | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.37 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 4.11 | -2.68 |
| Martin ratioReturn relative to average drawdown | 3.63 | 12.84 | -9.21 |
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
| GLDM | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 2.00 | -0.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | 1.13 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 0.33 | +0.66 |
Drawdowns
GLDM vs. YCS - Drawdown Comparison
The maximum GLDM drawdown since its inception was -21.63%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for GLDM and YCS.
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Drawdown Indicators
| GLDM | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.63% | -49.56% | +27.93% |
Max Drawdown (1Y)Largest decline over 1 year | -20.00% | -8.30% | -11.70% |
Max Drawdown (3Y)Largest decline over 3 years | -20.00% | -23.05% | +3.05% |
Max Drawdown (5Y)Largest decline over 5 years | -20.92% | -27.32% | +6.40% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -20.00% | 0.00% | -20.00% |
Average DrawdownAverage peak-to-trough decline | -6.23% | -19.92% | +13.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.86% | 2.65% | +5.21% |
Volatility
GLDM vs. YCS - Volatility Comparison
SPDR Gold MiniShares Trust (GLDM) has a higher volatility of 5.65% compared to ProShares UltraShort Yen (YCS) at 1.56%. This indicates that GLDM'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
| GLDM | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.65% | 1.56% | +4.09% |
Volatility (6M)Calculated over the trailing 6-month period | 23.31% | 12.27% | +11.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.65% | 17.09% | +9.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.97% | 21.08% | -3.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.90% | 19.00% | -2.10% |
GLDM vs. YCS - Expense Ratio Comparison
GLDM has a 0.10% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
GLDM vs. YCS - Dividend Comparison
Neither GLDM nor YCS has paid dividends to shareholders.
Frequently Asked Questions
GLDM and YCS have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDM has higher volatility (5.65%) compared to YCS (1.56%). In terms of maximum drawdown, GLDM dropped -21.63% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.63% vs 17.81% for GLDM. On fees, GLDM is cheaper at 0.10% per year. On volatility, YCS has been the lower-risk option at 1.56%. 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 23.63% return vs 17.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDM is cheaper with a 0.10% expense ratio, compared with 1.00% for YCS.
GLDM and YCS have nearly identical dividend yields, around 0.00%.
GLDM is categorized as Gold, while YCS is Leveraged Currency. GLDM tracks LBMA Gold Price PM, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.10% for GLDM and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (2.00 vs 1.07), 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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