INDL vs. YCS
INDL (Direxion Daily India Bull 3x Shares) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - INDL is a Leveraged Equities fund tracking the Indus India Index (300%), while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, INDL returned 1.06%/yr vs 13.62%/yr for YCS. At a 0.09 correlation, their price movements are largely independent. INDL charges 1.33%/yr vs 1.00%/yr for YCS.
Performance
INDL vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, INDL achieves a -21.27% return, which is significantly lower than YCS's 9.63% return. Over the past 10 years, INDL has underperformed YCS with an annualized return of 1.06%, while YCS has yielded a comparatively higher 13.62% annualized return.
INDL
- 1D
- -3.73%
- 1M
- 1.96%
- YTD
- -21.27%
- 6M
- -22.49%
- 1Y
- -24.89%
- 3Y*
- 0.97%
- 5Y*
- -1.23%
- 10Y*
- 1.06%
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%
INDL vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INDL Direxion Daily India Bull 3x Shares | -21.27% | -3.21% | 7.56% | 26.06% | -22.88% | 40.26% | -36.43% | 3.15% | -34.29% | 127.98% |
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 INDL 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 Mar 11, 2010 | 0.09 |
The correlation between INDL and YCS shifts across timeframes, from -0.20 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
INDL vs. YCS — Risk / Return Rank
INDL
YCS
INDL vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily India Bull 3x Shares (INDL) 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.
| INDL | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.69 | ||
| Sortino ratioReturn per unit of downside risk | -3.50 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.34 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | 3.78 | -4.44 |
| Martin ratioReturn relative to average drawdown | -1.32 | 11.93 | -13.25 |
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Drawdowns
INDL vs. YCS - Drawdown Comparison
The maximum INDL drawdown since its inception was -95.67%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for INDL and YCS.
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Drawdown Indicators
| INDL | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.67% | -49.56% | -46.11% |
Max Drawdown (1Y)Largest decline over 1 year | -37.82% | -8.30% | -29.52% |
Max Drawdown (3Y)Largest decline over 3 years | -47.64% | -23.05% | -24.59% |
Max Drawdown (5Y)Largest decline over 5 years | -47.64% | -27.32% | -20.32% |
Max Drawdown (10Y)Largest decline over 10 years | -91.96% | -27.32% | -64.64% |
Current DrawdownCurrent decline from peak | -77.84% | -0.14% | -77.70% |
Average DrawdownAverage peak-to-trough decline | -66.38% | -19.87% | -46.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.84% | 2.65% | +16.19% |
Volatility
INDL vs. YCS - Volatility Comparison
Direxion Daily India Bull 3x Shares (INDL) has a higher volatility of 9.26% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that INDL'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
| INDL | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.26% | 2.25% | +7.01% |
Volatility (6M)Calculated over the trailing 6-month period | 26.26% | 12.19% | +14.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.04% | 16.93% | +13.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.72% | 21.10% | +9.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.52% | 18.82% | +33.70% |
INDL vs. YCS - Expense Ratio Comparison
INDL has a 1.33% expense ratio, which is higher than YCS's 1.00% expense ratio.
Dividends
INDL vs. YCS - Dividend Comparison
INDL's dividend yield for the trailing twelve months is around 1.60%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
INDL Direxion Daily India Bull 3x Shares | 1.60% | 1.42% | 2.79% | 1.65% | 0.09% | 2.35% | 0.00% | 0.68% | 0.18% | 0.31% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
INDL 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.
INDL has higher volatility (9.26%) compared to YCS (2.25%). In terms of maximum drawdown, INDL dropped -95.67% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.62% vs 1.06% for INDL. On fees, YCS is cheaper at 1.00% 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 1.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YCS is cheaper with a 1.00% expense ratio, compared with 1.33% for INDL.
INDL has the higher dividend yield at 1.60%, compared with 0.00% for YCS.
INDL is categorized as Leveraged Equities, while YCS is Leveraged Currency. INDL tracks Indus India Index (300%), while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.33% for INDL and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.86 vs -0.83), 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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