IOCT vs. YCS
IOCT (Innovator International Developed Power Buffer ETF- October) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - IOCT is a Options Trading fund actively managed by Innovator, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). IOCT is actively managed, while YCS is passively managed. Over the past 3 years, IOCT returned 12.59%/yr vs 17.34%/yr for YCS. Their -0.23 correlation means they have often moved in opposite directions in the past. IOCT charges 0.85%/yr vs 1.00%/yr for YCS.
Performance
IOCT vs. YCS - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IOCT having a 7.67% return and YCS slightly lower at 7.29%.
IOCT
- 1D
- -0.08%
- 1M
- 1.23%
- 6M
- 5.11%
- YTD
- 7.67%
- 1Y
- 16.69%
- 3Y*
- 12.59%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.78%
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) |
|---|---|---|---|
| $247.57K | $311.11K | $341.04K | |
| $1.53M | $2.43M | $1.42M |
IOCT vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IOCT Innovator International Developed Power Buffer ETF- October | 7.67% | 18.96% | 4.88% | 17.54% | -6.31% | 1.48% |
YCS ProShares UltraShort Yen | 7.29% | 9.04% | 35.41% | 28.70% | 29.09% | 6.45% |
Correlation
The correlation between IOCT and YCS is -0.38, 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. | -0.38 |
Correlation (3Y) Balances recent behavior with more history. | -0.27 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021 | -0.23 |
The correlation between IOCT and YCS shifts across timeframes, from -0.38 (1 year) to -0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IOCT vs. YCS — Risk / Return Rank
IOCT
YCS
IOCT vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF- October (IOCT) 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.
| IOCT | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.23 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | 2.35 | +0.44 |
| Martin ratioReturn relative to average drawdown | 11.22 | 8.93 | +2.29 |
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Drawdowns
IOCT vs. YCS - Drawdown Comparison
The maximum IOCT drawdown since its inception was -16.94%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for IOCT and YCS.
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Drawdown Indicators
| IOCT | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.94% | -49.56% | +32.62% |
Max Drawdown (1Y)Largest decline over 1 year | -5.84% | -8.30% | +2.46% |
Max Drawdown (3Y)Largest decline over 3 years | -7.54% | -23.05% | +15.51% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.32% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -0.08% | -5.68% | +5.60% |
Average DrawdownAverage peak-to-trough decline | -2.59% | -19.75% | +17.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 2.64% | -1.19% |
Volatility
IOCT vs. YCS - Volatility Comparison
The current volatility for Innovator International Developed Power Buffer ETF- October (IOCT) is 2.32%, while ProShares UltraShort Yen (YCS) has a volatility of 5.30%. This indicates that IOCT 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
| IOCT | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.32% | 5.30% | -2.98% |
Volatility (6M)Calculated over the trailing 6-month period | 6.88% | 11.65% | -4.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.59% | 16.85% | -8.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.33% | 21.16% | -11.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.33% | 18.61% | -9.28% |
IOCT vs. YCS - Expense Ratio Comparison
IOCT has a 0.85% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
IOCT vs. YCS - Dividend Comparison
Neither IOCT nor YCS has paid dividends to shareholders.
Frequently Asked Questions
IOCT and YCS have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCS has higher volatility (5.30%) compared to IOCT (2.32%). In terms of maximum drawdown, IOCT dropped -16.94% vs YCS's -49.56%.
On 3-year performance, YCS leads with 17.34% vs 12.59% for IOCT. On fees, IOCT is cheaper at 0.85% per year. On volatility, IOCT has been the lower-risk option at 2.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, YCS has performed better with a 17.34% return vs 12.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IOCT is cheaper with a 0.85% expense ratio, compared with 1.00% for YCS.
IOCT and YCS have nearly identical dividend yields, around 0.00%.
IOCT is categorized as Options Trading, while YCS is Leveraged Currency. They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.85% for IOCT and 1.00% for YCS.
IOCT currently has the higher Sharpe Ratio (1.90 vs 1.16), 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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