IAUM vs. YCS
IAUM (iShares Gold Trust Micro) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - IAUM is a Gold fund tracking the LBMA Gold Price PM, while YCS is a Leveraged Currency fund tracking the JPY/USD 4:00 p.m. ET Cross Rate. Both are passively managed. Over the past 5 years, IAUM returned 19.18%/yr vs 22.89%/yr for YCS. Their -0.38 correlation means they have often moved in opposite directions in the past. IAUM charges 0.09%/yr vs 0.95%/yr for YCS.
Performance
IAUM vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, IAUM achieves a -1.56% return, which is significantly lower than YCS's 5.40% return.
IAUM
- 1D
- 4.11%
- 1M
- 1.98%
- 6M
- -14.07%
- YTD
- -1.56%
- 1Y
- 25.58%
- 3Y*
- 29.71%
- 5Y*
- 19.18%
- 10Y*
- —
- ALL TIME*
- 18.74%
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) |
|---|---|---|---|
| $93.38M | $76.09M | $95.11M | |
| $2.59M | $2.15M | $1.60M |
IAUM vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IAUM iShares Gold Trust Micro | -1.56% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
YCS ProShares UltraShort Yen | 5.40% | 9.04% | 35.41% | 28.70% | 29.09% | 7.41% |
Correlation
The correlation between IAUM and YCS is -0.20, 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. | -0.20 |
Correlation (3Y) Balances recent behavior with more history. | -0.27 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021 | -0.38 |
The correlation between IAUM and YCS shifts across timeframes, from -0.38 (all time) to -0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IAUM vs. YCS — Risk / Return Rank
IAUM
YCS
IAUM vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust Micro (IAUM) 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.
| IAUM | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.27 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.98 | 2.69 | -1.71 |
| Martin ratioReturn relative to average drawdown | 2.07 | 9.73 | -7.66 |
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Drawdowns
IAUM vs. YCS - Drawdown Comparison
The maximum IAUM drawdown since its inception was -26.31%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for IAUM and YCS.
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Drawdown Indicators
| IAUM | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.31% | -49.56% | +23.25% |
Max Drawdown (1Y)Largest decline over 1 year | -26.31% | -8.48% | -17.83% |
Max Drawdown (3Y)Largest decline over 3 years | -26.31% | -23.05% | -3.26% |
Max Drawdown (5Y)Largest decline over 5 years | -26.31% | -27.32% | +1.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -21.32% | -7.34% | -13.98% |
Average DrawdownAverage peak-to-trough decline | -5.91% | -19.75% | +13.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.41% | 2.34% | +10.07% |
Volatility
IAUM vs. YCS - Volatility Comparison
iShares Gold Trust Micro (IAUM) has a higher volatility of 7.06% compared to ProShares UltraShort Yen (YCS) at 5.95%. This indicates that IAUM'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
| IAUM | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.06% | 5.95% | +1.11% |
Volatility (6M)Calculated over the trailing 6-month period | 19.91% | 11.87% | +8.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.03% | 16.43% | +11.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.42% | 21.21% | -2.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.26% | 18.61% | -0.35% |
IAUM vs. YCS - Expense Ratio Comparison
IAUM has a 0.09% expense ratio, which is lower than YCS's 0.95% expense ratio.
Dividends
IAUM vs. YCS - Dividend Comparison
Neither IAUM nor YCS has paid dividends to shareholders.
Frequently Asked Questions
IAUM and YCS have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAUM has higher volatility (7.06%) compared to YCS (5.95%). In terms of maximum drawdown, IAUM dropped -26.31% vs YCS's -49.56%.
On 5-year performance, YCS leads with 22.89% vs 19.18% for IAUM. On fees, IAUM is cheaper at 0.09% per year. On volatility, YCS has been the lower-risk option at 5.95%. 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 22.89% return vs 19.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAUM is cheaper with a 0.09% expense ratio, compared with 0.95% for YCS.
IAUM and YCS have nearly identical dividend yields, around 0.00%.
IAUM is categorized as Gold, while YCS is Leveraged Currency. IAUM tracks LBMA Gold Price PM, while YCS tracks JPY/USD 4:00 p.m. ET Cross Rate. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.09% for IAUM and 0.95% for YCS.
YCS currently has the higher Sharpe Ratio (1.39 vs 0.92), 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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