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 -0.74%/yr vs 23.54%/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 -6.43% return, which is significantly lower than YCS's 7.17% return.
HYIN
- 1D
- -1.40%
- 1M
- -4.77%
- YTD
- -6.43%
- 6M
- -7.89%
- 1Y
- -4.98%
- 3Y*
- 4.61%
- 5Y*
- -0.74%
- 10Y*
- —
YCS
- 1D
- 0.17%
- 1M
- 4.42%
- YTD
- 7.17%
- 6M
- 10.05%
- 1Y
- 32.82%
- 3Y*
- 19.84%
- 5Y*
- 23.54%
- 10Y*
- 12.34%
HYIN vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HYIN WisdomTree Alternative Income Fund | -6.43% | -0.46% | 7.39% | 21.84% | -21.14% | 3.08% |
YCS ProShares UltraShort Yen | 7.17% | 9.04% | 35.41% | 28.70% | 29.09% | 10.25% |
Correlation
The correlation between HYIN and YCS is -0.31, 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 | -0.31 |
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 7, 2021 | -0.12 |
The correlation between HYIN and YCS shifts across timeframes, from -0.31 (1 year) to -0.12 (5 years), 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.
| HYIN | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.31 | ||
| Sortino ratioReturn per unit of downside risk | -2.91 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.35 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 3.97 | -4.29 |
| Martin ratioReturn relative to average drawdown | -0.69 | 12.40 | -13.08 |
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
| HYIN | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.39 | 1.92 | -2.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | 1.12 | -1.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.01 | 0.33 | -0.34 |
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 | -12.18% | 0.00% | -12.18% |
Average DrawdownAverage peak-to-trough decline | -9.02% | -19.93% | +10.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.24% | 2.66% | +4.58% |
Volatility
HYIN vs. YCS - Volatility Comparison
WisdomTree Alternative Income Fund (HYIN) has a higher volatility of 3.10% compared to ProShares UltraShort Yen (YCS) at 2.75%. 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 | 3.10% | 2.75% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 10.16% | 12.32% | -2.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.76% | 17.27% | -4.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.80% | 21.10% | -4.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.80% | 19.01% | -2.21% |
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 13.44%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
HYIN WisdomTree Alternative Income Fund | 13.44% | 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 -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYIN has higher volatility (3.10%) compared to YCS (2.75%). In terms of maximum drawdown, HYIN dropped -31.10% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.54% vs -0.74% for HYIN. On fees, YCS is cheaper at 1.00% per year. On volatility, YCS has been the lower-risk option at 2.75%. 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 -0.74%. 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 13.44%, 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 (1.92 vs -0.39), 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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