IALT vs. YCS
IALT (iShares Systematic Alternatives Active ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - IALT is a Multistrategy fund actively managed by iShares, while YCS is a Leveraged Currency fund tracking the JPY/USD 4:00 p.m. ET Cross Rate. IALT is actively managed, while YCS is passively managed. Their -0.15 correlation means they have often moved in opposite directions in the past. IALT charges 0.99%/yr vs 0.95%/yr for YCS.
Performance
IALT vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, IALT achieves a 13.93% return, which is significantly higher than YCS's 5.40% return.
IALT
- 1D
- -0.14%
- 1M
- 2.28%
- 6M
- 10.86%
- YTD
- 13.93%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
YCS
- 1D
- -0.02%
- 1M
- -4.94%
- 6M
- 4.42%
- YTD
- 5.40%
- 1Y
- 22.68%
- 3Y*
- 17.44%
- 5Y*
- 22.89%
- 10Y*
- 13.35%
- ALL TIME*
- 6.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $39.59M | $35.30M | $115.15M | |
| $2.59M | $2.15M | $1.60M |
IALT vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IALT iShares Systematic Alternatives Active ETF | 13.93% | 0.83% |
YCS ProShares UltraShort Yen | 5.40% | 0.23% |
Correlation
The correlation between IALT and YCS is -0.15, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025 | -0.15 |
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Return for Risk
IALT vs. YCS — Risk / Return Rank
IALT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
YCS
IALT vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Systematic Alternatives Active ETF (IALT) 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.
| IALT | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.27 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.69 | — |
| Martin ratioReturn relative to average drawdown | — | 9.73 | — |
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Drawdowns
IALT vs. YCS - Drawdown Comparison
The maximum IALT drawdown since its inception was -2.27%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for IALT and YCS.
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Drawdown Indicators
| IALT | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.27% | -49.56% | +47.29% |
Max Drawdown (1Y)Largest decline over 1 year | — | -8.48% | — |
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 DrawdownCurrent decline from peak | -0.48% | -7.34% | +6.86% |
Average DrawdownAverage peak-to-trough decline | -0.49% | -19.75% | +19.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.34% | — |
Volatility
IALT vs. YCS - Volatility Comparison
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Volatility by Period
| IALT | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.95% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.87% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.97% | 16.43% | -8.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.97% | 21.21% | -13.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.97% | 18.61% | -10.64% |
IALT vs. YCS - Expense Ratio Comparison
IALT has a 0.99% expense ratio, which is higher than YCS's 0.95% expense ratio.
Dividends
IALT vs. YCS - Dividend Comparison
IALT's dividend yield for the trailing twelve months is around 0.39%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
IALT iShares Systematic Alternatives Active ETF | 0.39% | 0.14% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% |
Frequently Asked Questions
IALT and YCS have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, YCS is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
YCS is cheaper with a 0.95% expense ratio, compared with 0.99% for IALT.
IALT has the higher dividend yield at 0.39%, compared with 0.00% for YCS.
IALT is categorized as Multistrategy, while YCS is Leveraged Currency. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.99% for IALT and 0.95% for YCS.
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