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 0.37%/yr vs 24.30%/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 -2.78% return, which is significantly lower than YCS's 11.45% return.
HYIN
- 1D
- 1.22%
- 1M
- 2.88%
- 6M
- -5.74%
- YTD
- -2.78%
- 1Y
- -6.62%
- 3Y*
- 3.30%
- 5Y*
- 0.37%
- 10Y*
- —
YCS
- 1D
- 0.42%
- 1M
- 3.09%
- 6M
- 8.08%
- YTD
- 11.45%
- 1Y
- 29.82%
- 3Y*
- 21.64%
- 5Y*
- 24.30%
- 10Y*
- 12.99%
HYIN vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HYIN WisdomTree Alternative Income Fund | -2.78% | -0.46% | 7.39% | 21.84% | -21.14% | 2.73% |
YCS ProShares UltraShort Yen | 11.45% | 9.04% | 35.41% | 28.70% | 29.09% | 9.93% |
Correlation
The correlation between HYIN and YCS is -0.27, 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 | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.16 |
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 -0.27 (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 | -2.33 | ||
| Sortino ratioReturn per unit of downside risk | -2.95 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.35 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 3.61 | -4.04 |
| Martin ratioReturn relative to average drawdown | -0.81 | 11.41 | -12.22 |
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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 | -8.76% | 0.00% | -8.76% |
Average DrawdownAverage peak-to-trough decline | -9.07% | -19.80% | +10.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.20% | 2.62% | +5.58% |
Volatility
HYIN vs. YCS - Volatility Comparison
WisdomTree Alternative Income Fund (HYIN) has a higher volatility of 3.36% compared to ProShares UltraShort Yen (YCS) at 2.47%. 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 | 3.36% | 2.47% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 10.37% | 11.85% | -1.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.01% | 16.54% | -3.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.77% | 21.09% | -4.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.70% | 18.70% | -2.00% |
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 12.99%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
HYIN WisdomTree Alternative Income Fund | 12.99% | 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 -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYIN has higher volatility (3.36%) compared to YCS (2.47%). In terms of maximum drawdown, HYIN dropped -31.10% vs YCS's -49.56%.
On 5-year performance, YCS leads with 24.30% vs 0.37% for HYIN. On fees, YCS is cheaper at 1.00% per year. On volatility, YCS has been the lower-risk option at 2.47%. 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 24.30% return vs 0.37%. 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 12.99%, 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 (1.82 vs -0.51), 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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