IRVH vs. YCS
IRVH (Global X Interest Rate Volatility & Inflation Hedge ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - IRVH is a Inflation-Protected Bonds fund actively managed by Global X, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). IRVH is actively managed, while YCS is passively managed. Over the past 3 years, IRVH returned 0.11%/yr vs 17.34%/yr for YCS. Their -0.33 correlation means they have often moved in opposite directions in the past. IRVH charges 0.50%/yr vs 1.00%/yr for YCS.
Performance
IRVH vs. YCS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IRVH achieves a -4.59% return, which is significantly lower than YCS's 7.29% return.
IRVH
- 1D
- -0.11%
- 1M
- -0.67%
- 6M
- -4.04%
- YTD
- -4.59%
- 1Y
- -3.57%
- 3Y*
- 0.11%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -2.19%
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) |
|---|---|---|---|
| $471.52 | $4.02K | $5.19K | |
| $1.53M | $2.43M | $1.42M |
IRVH vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IRVH Global X Interest Rate Volatility & Inflation Hedge ETF | -4.59% | 7.71% | -5.49% | 0.83% | -6.69% |
YCS ProShares UltraShort Yen | 7.29% | 9.04% | 35.41% | 28.70% | -6.27% |
Correlation
The correlation between IRVH and YCS is -0.13, 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. | -0.13 |
Correlation (3Y) Balances recent behavior with more history. | -0.27 |
Correlation (All Time) Calculated using the full available price history since Jul 6, 2022 | -0.33 |
Over the past year, the inverse relationship between IRVH and YCS has weakened: their correlation has moved from -0.33 to -0.13, meaning they move in opposite directions less often than they have historically.
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
IRVH vs. YCS — Risk / Return Rank
IRVH
YCS
IRVH vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Interest Rate Volatility & Inflation Hedge ETF (IRVH) 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.
| IRVH | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.85 | ||
| Sortino ratioReturn per unit of downside risk | -2.44 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.23 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | 2.35 | -2.84 |
| Martin ratioReturn relative to average drawdown | -0.97 | 8.93 | -9.90 |
Loading charts...
Drawdowns
IRVH vs. YCS - Drawdown Comparison
The maximum IRVH drawdown since its inception was -14.98%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for IRVH and YCS.
Loading charts...
Drawdown Indicators
| IRVH | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.98% | -49.56% | +34.58% |
Max Drawdown (1Y)Largest decline over 1 year | -6.48% | -8.30% | +1.82% |
Max Drawdown (3Y)Largest decline over 3 years | -8.03% | -23.05% | +15.02% |
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 | -11.49% | -5.68% | -5.81% |
Average DrawdownAverage peak-to-trough decline | -9.76% | -19.75% | +9.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 2.64% | +0.62% |
Volatility
IRVH vs. YCS - Volatility Comparison
The current volatility for Global X Interest Rate Volatility & Inflation Hedge ETF (IRVH) is 0.88%, while ProShares UltraShort Yen (YCS) has a volatility of 5.30%. This indicates that IRVH 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.
Loading charts...
Volatility by Period
| IRVH | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | 5.30% | -4.42% |
Volatility (6M)Calculated over the trailing 6-month period | 3.18% | 11.65% | -8.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.66% | 16.85% | -12.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.70% | 21.16% | -12.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.70% | 18.61% | -9.91% |
IRVH vs. YCS - Expense Ratio Comparison
IRVH has a 0.50% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
IRVH vs. YCS - Dividend Comparison
IRVH's dividend yield for the trailing twelve months is around 5.68%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IRVH Global X Interest Rate Volatility & Inflation Hedge ETF | 5.31% | 4.89% | 3.34% | 3.69% | 2.73% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IRVH and YCS have a correlation of -0.13, 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 IRVH (0.88%). In terms of maximum drawdown, IRVH dropped -14.98% vs YCS's -49.56%.
On 3-year performance, YCS leads with 17.34% vs 0.11% for IRVH. On fees, IRVH is cheaper at 0.50% per year. On volatility, IRVH has been the lower-risk option at 0.88%. 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 0.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IRVH is cheaper with a 0.50% expense ratio, compared with 1.00% for YCS.
IRVH has the higher dividend yield at 5.31%, compared with 0.00% for YCS.
IRVH is categorized as Inflation-Protected Bonds, while YCS is Leveraged Currency. They also come from different issuers: Global X and ProShares. Their fees differ too: 0.50% for IRVH and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.16 vs -0.68), 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 IRVH 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