IBMQ vs. YCS
IBMQ (iShares iBonds Dec 2028 Term Muni Bond ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - IBMQ is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2028 Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 5 years, IBMQ returned 0.55%/yr vs 23.52%/yr for YCS. At a correlation of -0.32, they often move in opposite directions. IBMQ charges 0.18%/yr vs 1.00%/yr for YCS.
Performance
IBMQ vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, IBMQ achieves a 0.93% return, which is significantly lower than YCS's 9.63% return.
IBMQ
- 1D
- 0.00%
- 1M
- 0.52%
- YTD
- 0.93%
- 6M
- 1.12%
- 1Y
- 3.24%
- 3Y*
- 2.84%
- 5Y*
- 0.55%
- 10Y*
- —
YCS
- 1D
- -0.14%
- 1M
- 3.57%
- YTD
- 9.63%
- 6M
- 10.44%
- 1Y
- 31.27%
- 3Y*
- 18.37%
- 5Y*
- 23.52%
- 10Y*
- 13.62%
IBMQ vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBMQ iShares iBonds Dec 2028 Term Muni Bond ETF | 0.93% | 4.09% | 0.71% | 4.00% | -6.73% | -0.26% | 6.93% | 5.24% |
YCS ProShares UltraShort Yen | 9.63% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | -2.64% |
Correlation
The correlation between IBMQ and YCS is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.33 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2019 | -0.32 |
The correlation between IBMQ and YCS shifts across timeframes, from -0.33 (5 years) to -0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBMQ vs. YCS — Risk / Return Rank
IBMQ
YCS
IBMQ vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2028 Term Muni Bond ETF (IBMQ) 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.
| IBMQ | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.34 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.89 | 3.78 | -0.90 |
| Martin ratioReturn relative to average drawdown | 7.58 | 11.93 | -4.34 |
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Drawdowns
IBMQ vs. YCS - Drawdown Comparison
The maximum IBMQ drawdown since its inception was -15.85%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for IBMQ and YCS.
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Drawdown Indicators
| IBMQ | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -49.56% | +33.71% |
Max Drawdown (1Y)Largest decline over 1 year | -1.13% | -8.30% | +7.17% |
Max Drawdown (3Y)Largest decline over 3 years | -3.57% | -23.05% | +19.48% |
Max Drawdown (5Y)Largest decline over 5 years | -11.51% | -27.32% | +15.81% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -0.09% | -0.14% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -19.87% | +16.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 2.65% | -2.22% |
Volatility
IBMQ vs. YCS - Volatility Comparison
The current volatility for iShares iBonds Dec 2028 Term Muni Bond ETF (IBMQ) is 0.26%, while ProShares UltraShort Yen (YCS) has a volatility of 2.25%. This indicates that IBMQ experiences smaller price fluctuations and is considered to be less risky 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
| IBMQ | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.26% | 2.25% | -1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 0.87% | 12.19% | -11.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.19% | 16.93% | -15.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.95% | 21.10% | -18.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.53% | 18.82% | -13.29% |
IBMQ vs. YCS - Expense Ratio Comparison
IBMQ has a 0.18% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
IBMQ vs. YCS - Dividend Comparison
IBMQ's dividend yield for the trailing twelve months is around 2.44%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IBMQ iShares iBonds Dec 2028 Term Muni Bond ETF | 2.44% | 2.43% | 2.33% | 1.93% | 1.25% | 1.05% | 1.24% | 1.03% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBMQ and YCS have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCS has higher volatility (2.25%) compared to IBMQ (0.26%). In terms of maximum drawdown, IBMQ dropped -15.85% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.52% vs 0.55% for IBMQ. On fees, IBMQ is cheaper at 0.18% per year. On volatility, IBMQ has been the lower-risk option at 0.26%. 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 23.52% return vs 0.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBMQ is cheaper with a 0.18% expense ratio, compared with 1.00% for YCS.
IBMQ has the higher dividend yield at 2.44%, compared with 0.00% for YCS.
IBMQ is categorized as Municipal Bonds, while YCS is Leveraged Currency. IBMQ tracks S&P AMT-Free Municipal Series Callable-Adjusted Dec 2028 Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.18% for IBMQ and 1.00% for YCS.
IBMQ currently has the higher Sharpe Ratio (2.74 vs 1.86), 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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