IJAN vs. YCS
IJAN (Innovator International Developed Power Buffer ETF - January) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - IJAN is a Defined Outcome fund actively managed by Innovator, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). IJAN is actively managed, while YCS is passively managed. Over the past 5 years, IJAN returned 7.18%/yr vs 23.54%/yr for YCS. At a correlation of -0.17, they often move in opposite directions. IJAN charges 0.85%/yr vs 1.00%/yr for YCS.
Performance
IJAN vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, IJAN achieves a 4.67% return, which is significantly lower than YCS's 7.17% return.
IJAN
- 1D
- 0.22%
- 1M
- 1.35%
- YTD
- 4.67%
- 6M
- 5.64%
- 1Y
- 11.91%
- 3Y*
- 9.66%
- 5Y*
- 7.18%
- 10Y*
- —
YCS
- 1D
- 0.00%
- 1M
- 3.39%
- YTD
- 7.17%
- 6M
- 10.02%
- 1Y
- 34.99%
- 3Y*
- 20.03%
- 5Y*
- 23.54%
- 10Y*
- 12.16%
IJAN vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IJAN Innovator International Developed Power Buffer ETF - January | 4.67% | 19.62% | -0.57% | 13.82% | -2.52% | 7.28% | 3.49% |
YCS ProShares UltraShort Yen | 7.17% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.01% |
Correlation
The correlation between IJAN and YCS is -0.40, 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 | -0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2020 | -0.17 |
Over the past year, the inverse relationship between IJAN and YCS has strengthened: their correlation has moved from -0.17 to -0.40, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
IJAN vs. YCS — Risk / Return Rank
IJAN
YCS
IJAN vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF - January (IJAN) 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.
| IJAN | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.38 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 4.23 | -2.28 |
| Martin ratioReturn relative to average drawdown | 8.25 | 13.22 | -4.97 |
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
| IJAN | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 2.06 | -0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 1.12 | -0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.64 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.33 | +0.22 |
Drawdowns
IJAN vs. YCS - Drawdown Comparison
The maximum IJAN drawdown since its inception was -22.68%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for IJAN and YCS.
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Drawdown Indicators
| IJAN | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.68% | -49.56% | +26.88% |
Max Drawdown (1Y)Largest decline over 1 year | -6.14% | -8.30% | +2.16% |
Max Drawdown (3Y)Largest decline over 3 years | -10.30% | -23.05% | +12.75% |
Max Drawdown (5Y)Largest decline over 5 years | -16.71% | -27.32% | +10.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -0.07% | 0.00% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -2.95% | -19.93% | +16.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 2.65% | -1.20% |
Volatility
IJAN vs. YCS - Volatility Comparison
The current volatility for Innovator International Developed Power Buffer ETF - January (IJAN) is 2.12%, while ProShares UltraShort Yen (YCS) has a volatility of 2.62%. This indicates that IJAN 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
| IJAN | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.12% | 2.62% | -0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 6.44% | 12.31% | -5.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.32% | 17.18% | -9.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.29% | 21.09% | -10.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.50% | 19.01% | -6.51% |
IJAN vs. YCS - Expense Ratio Comparison
IJAN has a 0.85% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
IJAN vs. YCS - Dividend Comparison
Neither IJAN nor YCS has paid dividends to shareholders.
Frequently Asked Questions
IJAN and YCS have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCS has higher volatility (2.62%) compared to IJAN (2.12%). In terms of maximum drawdown, IJAN dropped -22.68% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.54% vs 7.18% for IJAN. On fees, IJAN is cheaper at 0.85% per year. On volatility, IJAN has been the lower-risk option at 2.12%. 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 23.54% return vs 7.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IJAN is cheaper with a 0.85% expense ratio, compared with 1.00% for YCS.
IJAN and YCS have nearly identical dividend yields, around 0.00%.
IJAN is categorized as Defined Outcome, while YCS is Leveraged Currency. They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.85% for IJAN and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (2.06 vs 1.64), 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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