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IGSB vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IGSB vs. YCS

Last updated Jun 4, 2026

IGSB (iShares Short-Term Corporate Bond ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - IGSB is a Corporate Bonds fund tracking the ICE BofAML 1-5 Year US Corporate Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, IGSB returned 2.74%/yr vs 12.34%/yr for YCS. At a correlation of -0.33, they often move in opposite directions. IGSB charges 0.06%/yr vs 1.00%/yr for YCS.

Performance

IGSB vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Short-Term Corporate Bond ETF (IGSB) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IGSB achieves a 0.72% return, which is significantly lower than YCS's 7.17% return. Over the past 10 years, IGSB has underperformed YCS with an annualized return of 2.74%, while YCS has yielded a comparatively higher 12.34% annualized return.

IGSB

1D
-0.06%
1M
0.27%
YTD
0.72%
6M
1.01%
1Y
4.72%
3Y*
5.66%
5Y*
2.43%
10Y*
2.74%

YCS

1D
0.17%
1M
4.42%
YTD
7.17%
6M
10.05%
1Y
32.82%
3Y*
19.84%
5Y*
23.54%
10Y*
12.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IGSB vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IGSB
iShares Short-Term Corporate Bond ETF		0.72%6.96%4.97%6.40%-5.63%-0.56%5.37%7.11%1.25%1.27%
YCS
ProShares UltraShort Yen		7.17%9.04%35.41%28.70%29.09%22.38%-11.18%3.37%-1.49%-6.57%

Correlation

The correlation between IGSB and YCS is -0.50, 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

-0.50

Correlation (3Y)
Calculated over the trailing 3-year period

-0.49

Correlation (5Y)
Calculated over the trailing 5-year period

-0.51

Correlation (10Y)
Calculated over the trailing 10-year period

-0.45

Correlation (All Time)
Calculated using the full available price history since Nov 26, 2008

-0.33

The correlation between IGSB and YCS shifts across timeframes, from -0.51 (5 years) to -0.33 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Short-Term Corporate Bond ETF

ProShares UltraShort Yen

Often compared with IGSB:
IGSB vs. VCSHIGSB vs. LQDIGSB vs. SPSBIGSB vs. IGIBIGSB vs. SLQDIGSB vs. FLDRIGSB vs. AGG
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

IGSB vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IGSB
IGSB Risk / Return Rank: 7575
Overall Rank
IGSB Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
IGSB Sortino Ratio Rank: 8484
Sortino Ratio Rank
IGSB Omega Ratio Rank: 8181
Omega Ratio Rank
IGSB Calmar Ratio Rank: 6565
Calmar Ratio Rank
IGSB Martin Ratio Rank: 7070
Martin Ratio Rank
YCS
YCS Risk / Return Rank: 6161
Overall Rank
YCS Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
YCS Sortino Ratio Rank: 4949
Sortino Ratio Rank
YCS Omega Ratio Rank: 5656
Omega Ratio Rank
YCS Calmar Ratio Rank: 7878
Calmar Ratio Rank
YCS Martin Ratio Rank: 6767
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IGSB vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Short-Term Corporate Bond ETF (IGSB) 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.

IGSBYCSDifference
Sharpe ratioReturn per unit of total volatility
2.46
1.92

+0.54

Sortino ratioReturn per unit of downside risk
3.84
2.44

+1.40

Omega ratioGain probability vs. loss probability

1.49

1.35

+0.14

Calmar ratioReturn relative to maximum drawdown

3.25

3.97

-0.72

Martin ratioReturn relative to average drawdown

13.22

12.40

+0.82

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGSB vs. YCS - Sharpe Ratio Comparison

The current IGSB Sharpe Ratio is 2.46, which is comparable to the YCS Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of IGSB 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.

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Sharpe Ratios by Period

IGSBYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.46

1.92

+0.54

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.83

1.12

-0.29

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

0.65

+0.14

Sharpe Ratio (All Time)

Calculated using the full available price history

0.70

0.33

+0.37

Drawdowns

IGSB vs. YCS - Drawdown Comparison

The maximum IGSB drawdown since its inception was -13.38%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for IGSB and YCS.

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Drawdown Indicators

IGSBYCSDifference

Max Drawdown

Largest peak-to-trough decline

-13.38%

-49.56%

+36.18%

Max Drawdown (1Y)

Largest decline over 1 year

-1.46%

-8.30%

+6.84%

Max Drawdown (3Y)

Largest decline over 3 years

-1.46%

-23.05%

+21.59%

Max Drawdown (5Y)

Largest decline over 5 years

-9.46%

-27.32%

+17.86%

Max Drawdown (10Y)

Largest decline over 10 years

-13.38%

-27.32%

+13.94%

Current Drawdown

Current decline from peak

-0.32%

0.00%

-0.32%

Average Drawdown

Average peak-to-trough decline

-0.85%

-19.93%

+19.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.36%

2.66%

-2.30%

Volatility

IGSB vs. YCS - Volatility Comparison

The current volatility for iShares Short-Term Corporate Bond ETF (IGSB) is 0.57%, while ProShares UltraShort Yen (YCS) has a volatility of 2.75%. This indicates that IGSB 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

IGSBYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.57%

2.75%

-2.18%

Volatility (6M)

Calculated over the trailing 6-month period

1.41%

12.32%

-10.91%

Volatility (1Y)

Calculated over the trailing 1-year period

1.92%

17.27%

-15.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.93%

21.10%

-18.17%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.46%

19.01%

-15.55%

IGSB vs. YCS - Expense Ratio Comparison

IGSB has a 0.06% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

IGSB vs. YCS - Dividend Comparison

IGSB's dividend yield for the trailing twelve months is around 4.58%, while YCS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
IGSB
iShares Short-Term Corporate Bond ETF		4.58%4.44%4.02%3.26%2.07%1.82%2.36%3.06%2.46%1.65%1.45%1.18%
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

IGSB and YCS have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

YCS has higher volatility (2.75%) compared to IGSB (0.57%). In terms of maximum drawdown, IGSB dropped -13.38% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.34% vs 2.74% for IGSB. On fees, IGSB is cheaper at 0.06% per year. On volatility, IGSB has been the lower-risk option at 0.57%. 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 12.34% return vs 2.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IGSB is cheaper with a 0.06% expense ratio, compared with 1.00% for YCS.

IGSB has the higher dividend yield at 4.58%, compared with 0.00% for YCS.

IGSB is categorized as Corporate Bonds, while YCS is Leveraged Currency. IGSB tracks ICE BofAML 1-5 Year US Corporate Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.06% for IGSB and 1.00% for YCS.

IGSB currently has the higher Sharpe Ratio (2.46 vs 1.92), 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.

Portfolio Optimizer

Find the right allocation for IGSB and YCS

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