ILCB vs. YCS
ILCB (iShares Morningstar U.S. Equity ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - ILCB is a Large Cap Growth Equities fund tracking the Morningstar US Large-Mid Cap Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, ILCB returned 14.97%/yr vs 13.62%/yr for YCS. At a 0.19 correlation, their price movements are largely independent. ILCB charges 0.03%/yr vs 1.00%/yr for YCS.
Performance
ILCB vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, ILCB achieves a 8.52% return, which is significantly lower than YCS's 9.63% return. Over the past 10 years, ILCB has outperformed YCS with an annualized return of 14.97%, while YCS has yielded a comparatively lower 13.62% annualized return.
ILCB
- 1D
- -1.36%
- 1M
- -1.01%
- YTD
- 8.52%
- 6M
- 7.55%
- 1Y
- 23.81%
- 3Y*
- 21.04%
- 5Y*
- 12.58%
- 10Y*
- 14.97%
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%
ILCB vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ILCB iShares Morningstar U.S. Equity ETF | 8.52% | 17.70% | 24.96% | 26.91% | -19.48% | 24.07% | 19.40% | 32.68% | -8.51% | 22.09% |
YCS ProShares UltraShort Yen | 9.63% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between ILCB and YCS is -0.19, 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 | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | 0.19 |
The correlation between ILCB and YCS shifts across timeframes, from -0.19 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ILCB vs. YCS — Risk / Return Rank
ILCB
YCS
ILCB vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar U.S. Equity ETF (ILCB) 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.
| ILCB | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.34 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 3.78 | -1.15 |
| Martin ratioReturn relative to average drawdown | 11.66 | 11.93 | -0.27 |
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Drawdowns
ILCB vs. YCS - Drawdown Comparison
The maximum ILCB drawdown since its inception was -51.53%, roughly equal to the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for ILCB and YCS.
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Drawdown Indicators
| ILCB | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.53% | -49.56% | -1.97% |
Max Drawdown (1Y)Largest decline over 1 year | -9.09% | -8.30% | -0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -19.05% | -23.05% | +4.00% |
Max Drawdown (5Y)Largest decline over 5 years | -25.47% | -27.32% | +1.85% |
Max Drawdown (10Y)Largest decline over 10 years | -35.30% | -27.32% | -7.98% |
Current DrawdownCurrent decline from peak | -3.00% | -0.14% | -2.86% |
Average DrawdownAverage peak-to-trough decline | -6.23% | -19.87% | +13.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 2.65% | -0.60% |
Volatility
ILCB vs. YCS - Volatility Comparison
iShares Morningstar U.S. Equity ETF (ILCB) has a higher volatility of 4.82% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that ILCB'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
| ILCB | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.82% | 2.25% | +2.57% |
Volatility (6M)Calculated over the trailing 6-month period | 9.99% | 12.19% | -2.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.66% | 16.93% | -4.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.23% | 21.10% | -3.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.20% | 18.82% | -0.62% |
ILCB vs. YCS - Expense Ratio Comparison
ILCB has a 0.03% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
ILCB vs. YCS - Dividend Comparison
ILCB's dividend yield for the trailing twelve months is around 1.00%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ILCB iShares Morningstar U.S. Equity ETF | 1.00% | 1.11% | 1.19% | 1.43% | 1.65% | 1.16% | 1.26% | 2.25% | 2.17% | 1.81% | 1.97% | 2.44% |
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
ILCB and YCS have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ILCB has higher volatility (4.82%) compared to YCS (2.25%). In terms of maximum drawdown, ILCB dropped -51.53% vs YCS's -49.56%.
On 10-year performance, ILCB leads with 14.97% vs 13.62% for YCS. On fees, ILCB is cheaper at 0.03% per year. On volatility, YCS has been the lower-risk option at 2.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ILCB has performed better with a 14.97% return vs 13.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ILCB is cheaper with a 0.03% expense ratio, compared with 1.00% for YCS.
ILCB has the higher dividend yield at 1.00%, compared with 0.00% for YCS.
ILCB is categorized as Large Cap Growth Equities, while YCS is Leveraged Currency. ILCB tracks Morningstar US Large-Mid Cap Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.03% for ILCB and 1.00% for YCS.
ILCB currently has the higher Sharpe Ratio (1.89 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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