INDA vs. YCS
INDA (iShares MSCI India ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - INDA is a Asia Pacific Equities fund tracking the MSCI India Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, INDA returned 7.42%/yr vs 13.62%/yr for YCS. At a 0.07 correlation, their price movements are largely independent. INDA charges 0.69%/yr vs 1.00%/yr for YCS.
Performance
INDA vs. YCS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, INDA achieves a -9.21% return, which is significantly lower than YCS's 9.63% return. Over the past 10 years, INDA has underperformed YCS with an annualized return of 7.42%, while YCS has yielded a comparatively higher 13.62% annualized return.
INDA
- 1D
- -1.70%
- 1M
- 1.41%
- YTD
- -9.21%
- 6M
- -9.91%
- 1Y
- -9.65%
- 3Y*
- 5.09%
- 5Y*
- 3.46%
- 10Y*
- 7.42%
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%
INDA vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INDA iShares MSCI India ETF | -9.21% | 2.68% | 8.63% | 17.16% | -8.94% | 21.36% | 14.83% | 6.49% | -6.67% | 36.08% |
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 INDA and YCS is -0.20, 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 | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | 0.07 |
The correlation between INDA and YCS shifts across timeframes, from -0.20 (1 year) to 0.07 (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.
Return for Risk
INDA vs. YCS — Risk / Return Rank
INDA
YCS
INDA vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India ETF (INDA) 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.
| INDA | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.51 | ||
| Sortino ratioReturn per unit of downside risk | -3.23 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.34 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 3.78 | -4.30 |
| Martin ratioReturn relative to average drawdown | -1.17 | 11.93 | -13.10 |
Loading charts...
Drawdowns
INDA vs. YCS - Drawdown Comparison
The maximum INDA drawdown since its inception was -45.07%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for INDA and YCS.
Loading charts...
Drawdown Indicators
| INDA | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.07% | -49.56% | +4.49% |
Max Drawdown (1Y)Largest decline over 1 year | -18.69% | -8.30% | -10.39% |
Max Drawdown (3Y)Largest decline over 3 years | -22.72% | -23.05% | +0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -22.72% | -27.32% | +4.60% |
Max Drawdown (10Y)Largest decline over 10 years | -45.07% | -27.32% | -17.75% |
Current DrawdownCurrent decline from peak | -16.51% | -0.14% | -16.37% |
Average DrawdownAverage peak-to-trough decline | -9.60% | -19.87% | +10.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.28% | 2.65% | +5.63% |
Volatility
INDA vs. YCS - Volatility Comparison
iShares MSCI India ETF (INDA) has a higher volatility of 4.56% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that INDA'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.
Loading charts...
Volatility by Period
| INDA | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.56% | 2.25% | +2.31% |
Volatility (6M)Calculated over the trailing 6-month period | 13.07% | 12.19% | +0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.91% | 16.93% | -2.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.44% | 21.10% | -5.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.08% | 18.82% | +2.26% |
INDA vs. YCS - Expense Ratio Comparison
INDA has a 0.69% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
INDA vs. YCS - Dividend Comparison
Neither INDA nor YCS has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INDA iShares MSCI India ETF | 0.00% | 0.00% | 0.76% | 0.16% | 0.00% | 6.44% | 0.27% | 0.99% | 0.94% | 1.09% | 0.90% | 1.19% |
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
INDA and YCS have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INDA has higher volatility (4.56%) compared to YCS (2.25%). In terms of maximum drawdown, INDA dropped -45.07% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.62% vs 7.42% for INDA. On fees, INDA is cheaper at 0.69% 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, YCS has performed better with a 13.62% return vs 7.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
INDA is cheaper with a 0.69% expense ratio, compared with 1.00% for YCS.
INDA and YCS have nearly identical dividend yields, around 0.00%.
INDA is categorized as Asia Pacific Equities, while YCS is Leveraged Currency. INDA tracks MSCI India Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.69% for INDA and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.86 vs -0.65), 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.
Find the right allocation for INDA and YCS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer