IAUI vs. YCS

Last updated Aug 6, 2026

IAUI (NEOS Gold High Income ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - IAUI is a Derivative Income fund actively managed by Neos, while YCS is a Leveraged Currency fund tracking the JPY/USD 4:00 p.m. ET Cross Rate. IAUI is actively managed, while YCS is passively managed. Over the past year, IAUI returned 15.13% vs 22.68% for YCS. Their -0.20 correlation means they have often moved in opposite directions in the past. IAUI charges 0.78%/yr vs 0.95%/yr for YCS.

Performance

IAUI vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Gold High Income ETF (IAUI) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IAUI achieves a -3.16% return, which is significantly lower than YCS's 5.40% return.

IAUI

• 1D: 3.02%
• 1M: 1.94%
• 6M: -11.81%
• YTD: -3.16%
• 1Y: 15.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.75%

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IAUI NEOS Gold High Income ETF	$9.02M	$8.85M	$10.46M
YCS ProShares UltraShort Yen	$2.59M	$2.15M	$1.60M

IAUI vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025
IAUI NEOS Gold High Income ETF	-3.16%	20.00%
YCS ProShares UltraShort Yen	5.40%	25.96%

Correlation

The correlation between IAUI and YCS is -0.16, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.16
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	-0.20

Return for Risk

IAUI vs. YCS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IAUI

IAUI Risk / Return Rank: 24
IAUI Sharpe Ratio Rank: 26
IAUI Sortino Ratio Rank: 25
IAUI Omega Ratio Rank: 27
IAUI Calmar Ratio Rank: 21
IAUI Martin Ratio Rank: 20

YCS

YCS Risk / Return Rank: 56
YCS Sharpe Ratio Rank: 49
YCS Sortino Ratio Rank: 43
YCS Omega Ratio Rank: 52
YCS Calmar Ratio Rank: 68
YCS Martin Ratio Rank: 70

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IAUI vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Gold High Income ETF (IAUI) 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.

	IAUI	YCS	Difference
Sharpe ratio: Return per unit of total volatility	0.68	1.39	-0.71
Sortino ratio: Return per unit of downside risk	1.02	1.80	-0.78
Omega ratio: Gain probability vs. loss probability	1.14	1.27	-0.13
Calmar ratio: Return relative to maximum drawdown	0.68	2.69	-2.01
Martin ratio: Return relative to average drawdown	1.53	9.73	-8.20

IAUI vs. YCS - Sharpe Ratio Comparison

The current IAUI Sharpe Ratio is 0.68, which is lower than the YCS Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of IAUI and YCS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IAUI vs. YCS - Drawdown Comparison

The maximum IAUI drawdown since its inception was -22.50%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for IAUI and YCS.

Drawdown Indicators

	IAUI	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-22.50%	-49.56%	+27.06%
Max Drawdown (1Y) Largest decline over 1 year	-22.50%	-8.48%	-14.02%
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 Drawdown Current decline from peak	-17.87%	-7.34%	-10.53%
Average Drawdown Average peak-to-trough decline	-5.83%	-19.75%	+13.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.91%	2.34%	+7.57%

Volatility

IAUI vs. YCS - Volatility Comparison

NEOS Gold High Income ETF (IAUI) and ProShares UltraShort Yen (YCS) have volatilities of 6.03% and 5.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAUI	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.03%	5.95%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	18.61%	11.87%	+6.74%
Volatility (1Y) Calculated over the trailing 1-year period	22.28%	16.43%	+5.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.07%	21.21%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.07%	18.61%	+2.46%

IAUI vs. YCS - Expense Ratio Comparison

IAUI has a 0.78% expense ratio, which is lower than YCS's 0.95% expense ratio.

Dividends

IAUI vs. YCS - Dividend Comparison

IAUI's dividend yield for the trailing twelve months is around 13.46%, while YCS has not paid dividends to shareholders.

Position	TTM	2025
IAUI NEOS Gold High Income ETF	13.46%	6.88%
YCS ProShares UltraShort Yen	0.00%	0.00%

Frequently Asked Questions

Can I hold both IAUI and YCS in my portfolio?

IAUI and YCS have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAUI or YCS?

IAUI has higher volatility (6.03%) compared to YCS (5.95%). In terms of maximum drawdown, IAUI dropped -22.50% vs YCS's -49.56%.

Which ETF is better, IAUI or YCS?

On 1-year performance, YCS leads with 22.68% vs 15.13% for IAUI. On fees, IAUI is cheaper at 0.78% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAUI or YCS?

Over the 1-year period, YCS has performed better with a 22.68% return vs 15.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAUI or YCS?

IAUI is cheaper with a 0.78% expense ratio, compared with 0.95% for YCS.

Which ETF pays a higher dividend yield, IAUI or YCS?

IAUI has the higher dividend yield at 13.46%, compared with 0.00% for YCS.

What is the main difference between IAUI and YCS?

IAUI is categorized as Derivative Income, while YCS is Leveraged Currency. They also come from different issuers: Neos and ProShares. Their fees differ too: 0.78% for IAUI and 0.95% for YCS.

Which has better risk-adjusted returns?

YCS currently has the higher Sharpe Ratio (1.39 vs 0.68), 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.