IHI vs. YCS
IHI (iShares U.S. Medical Devices ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - IHI is a Health & Biotech Equities fund tracking the Dow Jones U.S. Select Medical Equipment Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, IHI returned 8.58%/yr vs 13.76%/yr for YCS. Their 0.13 correlation means their historical movements had little consistent relationship. IHI charges 0.38%/yr vs 1.00%/yr for YCS.
Performance
IHI vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, IHI achieves a -15.32% return, which is significantly lower than YCS's 7.29% return. Over the past 10 years, IHI has underperformed YCS with an annualized return of 8.58%, while YCS has yielded a comparatively higher 13.76% annualized return.
IHI
- 1D
- -0.44%
- 1M
- 1.21%
- 6M
- -12.40%
- YTD
- -15.32%
- 1Y
- -11.60%
- 3Y*
- -1.46%
- 5Y*
- -3.35%
- 10Y*
- 8.58%
- ALL TIME*
- 10.02%
YCS
- 1D
- -0.84%
- 1M
- -2.27%
- 6M
- 9.33%
- YTD
- 7.29%
- 1Y
- 25.05%
- 3Y*
- 17.34%
- 5Y*
- 23.55%
- 10Y*
- 13.76%
- ALL TIME*
- 6.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $145.90M | $167.07M | $148.77M | |
| $1.53M | $2.43M | $1.42M |
IHI vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | -15.32% | 6.88% | 8.62% | 3.24% | -19.80% | 21.03% | 24.17% | 32.75% | 15.45% | 30.81% |
YCS ProShares UltraShort Yen | 7.29% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between IHI and YCS is -0.24, 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. | -0.24 |
Correlation (3Y) Balances recent behavior with more history. | -0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.01 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | 0.13 |
The correlation between IHI and YCS shifts across timeframes, from -0.24 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IHI vs. YCS — Risk / Return Rank
IHI
YCS
IHI vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Medical Devices ETF (IHI) 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.
| IHI | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -2.27 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.23 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.45 | 2.35 | -2.80 |
| Martin ratioReturn relative to average drawdown | -0.88 | 8.93 | -9.81 |
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Drawdowns
IHI vs. YCS - Drawdown Comparison
The maximum IHI drawdown since its inception was -49.65%, roughly equal to the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for IHI and YCS.
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Drawdown Indicators
| IHI | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.65% | -49.56% | -0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -26.11% | -8.30% | -17.81% |
Max Drawdown (3Y)Largest decline over 3 years | -26.64% | -23.05% | -3.59% |
Max Drawdown (5Y)Largest decline over 5 years | -33.12% | -27.32% | -5.80% |
Max Drawdown (10Y)Largest decline over 10 years | -33.25% | -27.32% | -5.93% |
Current DrawdownCurrent decline from peak | -20.04% | -5.68% | -14.36% |
Average DrawdownAverage peak-to-trough decline | -8.43% | -19.75% | +11.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.27% | 2.64% | +10.63% |
Volatility
IHI vs. YCS - Volatility Comparison
iShares U.S. Medical Devices ETF (IHI) has a higher volatility of 9.58% compared to ProShares UltraShort Yen (YCS) at 5.30%. This indicates that IHI'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
| IHI | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.58% | 5.30% | +4.28% |
Volatility (6M)Calculated over the trailing 6-month period | 16.58% | 11.65% | +4.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.90% | 16.85% | +3.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.55% | 21.16% | -1.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.01% | 18.61% | +1.40% |
IHI vs. YCS - Expense Ratio Comparison
IHI has a 0.38% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
IHI vs. YCS - Dividend Comparison
IHI's dividend yield for the trailing twelve months is around 0.46%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | 0.46% | 0.34% | 0.46% | 0.53% | 0.45% | 0.25% | 0.25% | 0.33% | 0.26% | 0.37% | 0.55% | 1.28% |
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
IHI and YCS have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IHI has higher volatility (9.58%) compared to YCS (5.30%). In terms of maximum drawdown, IHI dropped -49.65% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.76% vs 8.58% for IHI. On fees, IHI is cheaper at 0.38% per year. On volatility, YCS has been the lower-risk option at 5.30%. 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 13.76% return vs 8.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IHI is cheaper with a 0.38% expense ratio, compared with 1.00% for YCS.
IHI has the higher dividend yield at 0.46%, compared with 0.00% for YCS.
IHI is categorized as Health & Biotech Equities, while YCS is Leveraged Currency. IHI tracks Dow Jones U.S. Select Medical Equipment Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.38% for IHI and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.16 vs -0.59), 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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