GVLE vs. YCS

Last updated Jul 14, 2026

GVLE (Goldman Sachs Value Opportunities ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - GVLE is a Large Cap Value Equities fund actively managed by Goldman Sachs, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). GVLE is actively managed, while YCS is passively managed. At a correlation of -0.30, they often move in opposite directions. GVLE charges 0.45%/yr vs 1.00%/yr for YCS.

Performance

GVLE vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Value Opportunities ETF (GVLE) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GVLE achieves a 15.42% return, which is significantly higher than YCS's 10.72% return.

GVLE

• 1D: -0.21%
• 1M: 1.91%
• 6M: 12.56%
• YTD: 15.42%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

YCS

• 1D: 0.38%
• 1M: 2.89%
• 6M: 8.26%
• YTD: 10.72%
• 1Y: 29.55%
• 3Y*: 21.25%
• 5Y*: 24.17%
• 10Y*: 13.05%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GVLE vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025
GVLE Goldman Sachs Value Opportunities ETF	15.42%	4.29%
YCS ProShares UltraShort Yen	10.72%	3.69%

Correlation

The correlation between GVLE and YCS is -0.30, 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 (All Time) Calculated using the full available price history since Nov 17, 2025	-0.30

Return for Risk

GVLE vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GVLE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

YCS

YCS Risk / Return Rank: 72
YCS Sharpe Ratio Rank: 69
YCS Sortino Ratio Rank: 61
YCS Omega Ratio Rank: 72
YCS Calmar Ratio Rank: 83
YCS Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GVLE vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Value Opportunities ETF (GVLE) 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.

	GVLE	YCS	Difference
Sharpe ratio: Return per unit of total volatility	—	1.79	—
Sortino ratio: Return per unit of downside risk	—	2.27	—
Omega ratio: Gain probability vs. loss probability	—	1.34	—
Calmar ratio: Return relative to maximum drawdown	—	3.58	—
Martin ratio: Return relative to average drawdown	—	11.30	—

Drawdowns

GVLE vs. YCS - Drawdown Comparison

The maximum GVLE drawdown since its inception was -7.88%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for GVLE and YCS.

Drawdown Indicators

	GVLE	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-7.88%	-49.56%	+41.68%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.30%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.32%	—
Current Drawdown Current decline from peak	-0.70%	-0.63%	-0.07%
Average Drawdown Average peak-to-trough decline	-1.22%	-19.81%	+18.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.62%	—

Volatility

Volatility by Period

	GVLE	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.94%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.95%	16.63%	-2.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.95%	21.09%	-7.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.95%	18.71%	-4.76%

GVLE vs. YCS - Expense Ratio Comparison

GVLE has a 0.45% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

GVLE vs. YCS - Dividend Comparison

GVLE's dividend yield for the trailing twelve months is around 1.01%, while YCS has not paid dividends to shareholders.

Position	TTM	2025
GVLE Goldman Sachs Value Opportunities ETF	1.01%	1.16%
YCS ProShares UltraShort Yen	0.00%	0.00%

Frequently Asked Questions

Can I hold both GVLE and YCS in my portfolio?

GVLE and YCS have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GVLE or YCS?

On fees, GVLE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GVLE or YCS?

GVLE is cheaper with a 0.45% expense ratio, compared with 1.00% for YCS.

Which ETF pays a higher dividend yield, GVLE or YCS?

GVLE has the higher dividend yield at 1.01%, compared with 0.00% for YCS.

What is the main difference between GVLE and YCS?

GVLE is categorized as Large Cap Value Equities, while YCS is Leveraged Currency. They also come from different issuers: Goldman Sachs and ProShares. Their fees differ too: 0.45% for GVLE and 1.00% for YCS.