HYIN vs. YCS
HYIN (WisdomTree Alternative Income Fund) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - HYIN is a Diversified Portfolio fund tracking the Gapstow Liquid Alternative Credit Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 5 years, HYIN returned -1.05%/yr vs 23.65%/yr for YCS. At a correlation of -0.12, they often move in opposite directions. HYIN charges 3.20%/yr vs 1.00%/yr for YCS.
Performance
HYIN vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, HYIN achieves a -6.82% return, which is significantly lower than YCS's 10.06% return.
HYIN
- 1D
- 0.03%
- 1M
- -0.60%
- YTD
- -6.82%
- 6M
- -6.57%
- 1Y
- -7.21%
- 3Y*
- 4.26%
- 5Y*
- -1.05%
- 10Y*
- —
YCS
- 1D
- 0.39%
- 1M
- 3.97%
- YTD
- 10.06%
- 6M
- 11.27%
- 1Y
- 34.18%
- 3Y*
- 18.53%
- 5Y*
- 23.65%
- 10Y*
- 13.66%
HYIN vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HYIN WisdomTree Alternative Income Fund | -6.82% | -0.46% | 7.39% | 21.84% | -21.14% | 2.73% |
YCS ProShares UltraShort Yen | 10.06% | 9.04% | 35.41% | 28.70% | 29.09% | 9.93% |
Correlation
The correlation between HYIN 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 (1Y) Calculated over the trailing 1-year period | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since May 6, 2021 | -0.12 |
The correlation between HYIN and YCS shifts across timeframes, from -0.30 (1 year) to -0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYIN vs. YCS — Risk / Return Rank
HYIN
YCS
HYIN vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Alternative Income Fund (HYIN) 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.
| HYIN | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.60 | ||
| Sortino ratioReturn per unit of downside risk | -3.28 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.38 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | 4.14 | -4.60 |
| Martin ratioReturn relative to average drawdown | -0.93 | 13.04 | -13.97 |
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Drawdowns
HYIN vs. YCS - Drawdown Comparison
The maximum HYIN drawdown since its inception was -31.10%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for HYIN and YCS.
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Drawdown Indicators
| HYIN | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.10% | -49.56% | +18.46% |
Max Drawdown (1Y)Largest decline over 1 year | -15.52% | -8.30% | -7.22% |
Max Drawdown (3Y)Largest decline over 3 years | -15.85% | -23.05% | +7.20% |
Max Drawdown (5Y)Largest decline over 5 years | -31.10% | -27.32% | -3.78% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -12.55% | 0.00% | -12.55% |
Average DrawdownAverage peak-to-trough decline | -9.05% | -19.87% | +10.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.77% | 2.63% | +5.14% |
Volatility
HYIN vs. YCS - Volatility Comparison
WisdomTree Alternative Income Fund (HYIN) has a higher volatility of 3.37% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that HYIN'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
| HYIN | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.37% | 2.25% | +1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 10.31% | 11.91% | -1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.94% | 16.93% | -3.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.77% | 21.10% | -4.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.75% | 18.82% | -2.07% |
HYIN vs. YCS - Expense Ratio Comparison
HYIN has a 3.20% expense ratio, which is higher than YCS's 1.00% expense ratio.
Dividends
HYIN vs. YCS - Dividend Comparison
HYIN's dividend yield for the trailing twelve months is around 13.50%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
HYIN WisdomTree Alternative Income Fund | 13.50% | 12.58% | 12.59% | 11.71% | 11.34% | 4.13% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYIN 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.
HYIN has higher volatility (3.37%) compared to YCS (2.25%). In terms of maximum drawdown, HYIN dropped -31.10% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.65% vs -1.05% for HYIN. On fees, YCS is cheaper at 1.00% 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 5-year period, YCS has performed better with a 23.65% return vs -1.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YCS is cheaper with a 1.00% expense ratio, compared with 3.20% for HYIN.
HYIN has the higher dividend yield at 13.50%, compared with 0.00% for YCS.
HYIN is categorized as Diversified Portfolio, while YCS is Leveraged Currency. HYIN tracks Gapstow Liquid Alternative Credit Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: WisdomTree and ProShares. Their fees differ too: 3.20% for HYIN and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (2.04 vs -0.56), 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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