IEO vs. YCS
IEO (iShares U.S. Oil & Gas Exploration & Production ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - IEO is a Energy Equities fund tracking the Dow Jones U.S. Select Oil Exploration & Production Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, IEO returned 9.53%/yr vs 12.25%/yr for YCS. At a 0.17 correlation, their price movements are largely independent. IEO charges 0.42%/yr vs 1.00%/yr for YCS.
Performance
IEO vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, IEO achieves a 30.74% return, which is significantly higher than YCS's 7.54% return. Over the past 10 years, IEO has underperformed YCS with an annualized return of 9.53%, while YCS has yielded a comparatively higher 12.25% annualized return.
IEO
- 1D
- -2.60%
- 1M
- 2.15%
- YTD
- 30.74%
- 6M
- 22.30%
- 1Y
- 36.73%
- 3Y*
- 14.92%
- 5Y*
- 18.27%
- 10Y*
- 9.53%
YCS
- 1D
- 0.35%
- 1M
- 5.12%
- YTD
- 7.54%
- 6M
- 10.01%
- 1Y
- 31.94%
- 3Y*
- 20.09%
- 5Y*
- 23.63%
- 10Y*
- 12.25%
IEO vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 30.74% | 2.15% | -1.45% | 3.57% | 57.82% | 75.57% | -32.77% | 9.63% | -19.44% | 0.33% |
YCS ProShares UltraShort Yen | 7.54% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between IEO and YCS is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Nov 26, 2008 | 0.17 |
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Return for Risk
IEO vs. YCS — Risk / Return Rank
IEO
YCS
IEO vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Oil & Gas Exploration & Production ETF (IEO) 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.
| IEO | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.37 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | 4.11 | -1.32 |
| Martin ratioReturn relative to average drawdown | 7.47 | 12.84 | -5.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IEO | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.59 | 2.00 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 1.13 | -0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.65 | -0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.33 | -0.17 |
Drawdowns
IEO vs. YCS - Drawdown Comparison
The maximum IEO drawdown since its inception was -79.17%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for IEO and YCS.
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Drawdown Indicators
| IEO | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.17% | -49.56% | -29.61% |
Max Drawdown (1Y)Largest decline over 1 year | -14.30% | -8.30% | -6.00% |
Max Drawdown (3Y)Largest decline over 3 years | -31.46% | -23.05% | -8.41% |
Max Drawdown (5Y)Largest decline over 5 years | -31.46% | -27.32% | -4.14% |
Max Drawdown (10Y)Largest decline over 10 years | -75.00% | -27.32% | -47.68% |
Current DrawdownCurrent decline from peak | -9.95% | 0.00% | -9.95% |
Average DrawdownAverage peak-to-trough decline | -26.27% | -19.92% | -6.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.33% | 2.65% | +2.68% |
Volatility
IEO vs. YCS - Volatility Comparison
iShares U.S. Oil & Gas Exploration & Production ETF (IEO) has a higher volatility of 7.99% compared to ProShares UltraShort Yen (YCS) at 1.56%. This indicates that IEO'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
| IEO | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.99% | 1.56% | +6.43% |
Volatility (6M)Calculated over the trailing 6-month period | 19.88% | 12.27% | +7.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.13% | 17.09% | +8.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.55% | 21.08% | +9.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.00% | 19.00% | +16.00% |
IEO vs. YCS - Expense Ratio Comparison
IEO has a 0.42% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
IEO vs. YCS - Dividend Comparison
IEO's dividend yield for the trailing twelve months is around 2.02%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 2.02% | 2.61% | 2.63% | 3.00% | 3.77% | 2.62% | 3.17% | 1.85% | 1.67% | 0.94% | 0.98% | 2.03% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IEO 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.
IEO has higher volatility (7.99%) compared to YCS (1.56%). In terms of maximum drawdown, IEO dropped -79.17% vs YCS's -49.56%.
On 10-year performance, YCS leads with 12.25% vs 9.53% for IEO. On fees, IEO is cheaper at 0.42% per year. On volatility, YCS has been the lower-risk option at 1.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, YCS has performed better with a 12.25% return vs 9.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEO is cheaper with a 0.42% expense ratio, compared with 1.00% for YCS.
IEO has the higher dividend yield at 2.02%, compared with 0.00% for YCS.
IEO is categorized as Energy Equities, while YCS is Leveraged Currency. IEO tracks Dow Jones U.S. Select Oil Exploration & Production Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.42% for IEO and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (2.00 vs 1.59), 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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