IVRS vs. YCS
IVRS (iShares Future Metaverse Tech And Communications ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - IVRS is a Technology Equities fund tracking the Morningstar Global Metaverse & Virtual Interaction Select Index - Benchmark TR Net, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 3 years, IVRS returned 7.89%/yr vs 18.37%/yr for YCS. At a correlation of -0.07, they often move in opposite directions. IVRS charges 0.47%/yr vs 1.00%/yr for YCS.
Performance
IVRS vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, IVRS achieves a -9.21% return, which is significantly lower than YCS's 9.63% return.
IVRS
- 1D
- -1.89%
- 1M
- -4.92%
- YTD
- -9.21%
- 6M
- -10.90%
- 1Y
- -6.88%
- 3Y*
- 7.89%
- 5Y*
- —
- 10Y*
- —
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%
IVRS vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IVRS iShares Future Metaverse Tech And Communications ETF | -9.21% | 12.75% | 7.40% | 28.15% |
YCS ProShares UltraShort Yen | 9.63% | 9.04% | 35.41% | 21.88% |
Correlation
The correlation between IVRS and YCS is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2023 | -0.07 |
The correlation between IVRS and YCS shifts across timeframes, from -0.21 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IVRS vs. YCS — Risk / Return Rank
IVRS
YCS
IVRS vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Future Metaverse Tech And Communications ETF (IVRS) 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.
| IVRS | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.16 | ||
| Sortino ratioReturn per unit of downside risk | -2.63 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.34 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.22 | 3.78 | -4.00 |
| Martin ratioReturn relative to average drawdown | -0.45 | 11.93 | -12.38 |
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Drawdowns
IVRS vs. YCS - Drawdown Comparison
The maximum IVRS drawdown since its inception was -31.43%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for IVRS and YCS.
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Drawdown Indicators
| IVRS | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.43% | -49.56% | +18.13% |
Max Drawdown (1Y)Largest decline over 1 year | -31.43% | -8.30% | -23.13% |
Max Drawdown (3Y)Largest decline over 3 years | -31.43% | -23.05% | -8.38% |
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 | -21.89% | -0.14% | -21.75% |
Average DrawdownAverage peak-to-trough decline | -6.03% | -19.87% | +13.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.29% | 2.65% | +12.64% |
Volatility
IVRS vs. YCS - Volatility Comparison
iShares Future Metaverse Tech And Communications ETF (IVRS) has a higher volatility of 8.09% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that IVRS'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
| IVRS | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.09% | 2.25% | +5.84% |
Volatility (6M)Calculated over the trailing 6-month period | 19.82% | 12.19% | +7.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.78% | 16.93% | +5.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.71% | 21.10% | -0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.71% | 18.82% | +1.89% |
IVRS vs. YCS - Expense Ratio Comparison
IVRS has a 0.47% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
IVRS vs. YCS - Dividend Comparison
IVRS's dividend yield for the trailing twelve months is around 8.82%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IVRS iShares Future Metaverse Tech And Communications ETF | 8.82% | 7.88% | 6.65% | 0.48% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IVRS and YCS have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVRS has higher volatility (8.09%) compared to YCS (2.25%). In terms of maximum drawdown, IVRS dropped -31.43% vs YCS's -49.56%.
On 3-year performance, YCS leads with 18.37% vs 7.89% for IVRS. On fees, IVRS is cheaper at 0.47% 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 3-year period, YCS has performed better with a 18.37% return vs 7.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVRS is cheaper with a 0.47% expense ratio, compared with 1.00% for YCS.
IVRS has the higher dividend yield at 8.82%, compared with 0.00% for YCS.
IVRS is categorized as Technology Equities, while YCS is Leveraged Currency. IVRS tracks Morningstar Global Metaverse & Virtual Interaction Select Index - Benchmark TR Net, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.47% for IVRS and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.86 vs -0.30), 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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