HDMV vs. YCS
HDMV (First Trust Horizon Managed Volatility Developed Intl ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - HDMV is a Foreign Large Cap Equities fund actively managed by First Trust, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). HDMV is actively managed, while YCS is passively managed. Over the past 5 years, HDMV returned 6.35%/yr vs 23.54%/yr for YCS. At a correlation of -0.17, they often move in opposite directions. HDMV charges 0.80%/yr vs 1.00%/yr for YCS.
Performance
HDMV vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, HDMV achieves a 4.42% return, which is significantly lower than YCS's 7.17% return.
HDMV
- 1D
- 0.19%
- 1M
- -2.13%
- YTD
- 4.42%
- 6M
- 6.56%
- 1Y
- 9.31%
- 3Y*
- 12.87%
- 5Y*
- 6.35%
- 10Y*
- —
YCS
- 1D
- 0.00%
- 1M
- 3.39%
- YTD
- 7.17%
- 6M
- 10.02%
- 1Y
- 34.99%
- 3Y*
- 20.03%
- 5Y*
- 23.54%
- 10Y*
- 12.16%
HDMV vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HDMV First Trust Horizon Managed Volatility Developed Intl ETF | 4.42% | 29.31% | 2.99% | 9.62% | -11.47% | 7.39% | -9.42% | 15.00% | -7.60% | 27.49% |
YCS ProShares UltraShort Yen | 7.17% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between HDMV and YCS is -0.54, 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 | -0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.34 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2016 | -0.17 |
Over the past year, the inverse relationship between HDMV and YCS has strengthened: their correlation has moved from -0.17 to -0.54, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
HDMV vs. YCS — Risk / Return Rank
HDMV
YCS
HDMV vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Horizon Managed Volatility Developed Intl ETF (HDMV) 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.
| HDMV | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.38 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | 4.23 | -3.16 |
| Martin ratioReturn relative to average drawdown | 3.31 | 13.22 | -9.91 |
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
| HDMV | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 2.06 | -1.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 1.12 | -0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.64 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.33 | +0.08 |
Drawdowns
HDMV vs. YCS - Drawdown Comparison
The maximum HDMV drawdown since its inception was -32.01%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for HDMV and YCS.
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Drawdown Indicators
| HDMV | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.01% | -49.56% | +17.55% |
Max Drawdown (1Y)Largest decline over 1 year | -8.73% | -8.30% | -0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -10.33% | -23.05% | +12.72% |
Max Drawdown (5Y)Largest decline over 5 years | -24.11% | -27.32% | +3.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -5.87% | 0.00% | -5.87% |
Average DrawdownAverage peak-to-trough decline | -6.77% | -19.93% | +13.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 2.65% | +0.17% |
Volatility
HDMV vs. YCS - Volatility Comparison
First Trust Horizon Managed Volatility Developed Intl ETF (HDMV) has a higher volatility of 3.69% compared to ProShares UltraShort Yen (YCS) at 2.62%. This indicates that HDMV'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
| HDMV | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.69% | 2.62% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 9.38% | 12.31% | -2.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.12% | 17.18% | -6.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.04% | 21.09% | -9.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.23% | 19.01% | -5.78% |
HDMV vs. YCS - Expense Ratio Comparison
HDMV has a 0.80% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
HDMV vs. YCS - Dividend Comparison
HDMV's dividend yield for the trailing twelve months is around 4.69%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HDMV First Trust Horizon Managed Volatility Developed Intl ETF | 4.69% | 5.09% | 3.24% | 3.14% | 3.53% | 3.11% | 1.45% | 3.63% | 2.88% | 3.23% | 0.18% |
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% |
Frequently Asked Questions
HDMV and YCS have a correlation of -0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDMV has higher volatility (3.69%) compared to YCS (2.62%). In terms of maximum drawdown, HDMV dropped -32.01% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.54% vs 6.35% for HDMV. On fees, HDMV is cheaper at 0.80% per year. On volatility, YCS has been the lower-risk option at 2.62%. 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 6.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HDMV is cheaper with a 0.80% expense ratio, compared with 1.00% for YCS.
HDMV has the higher dividend yield at 4.69%, compared with 0.00% for YCS.
HDMV is categorized as Foreign Large Cap Equities, while YCS is Leveraged Currency. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.80% for HDMV and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (2.06 vs 0.84), 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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