JQUA vs. YCS
JQUA (JPMorgan U.S. Quality Factor ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - JQUA is a Quality Factor fund tracking the JP Morgan US Quality Factor Index, while YCS is a Leveraged Currency fund tracking the JPY/USD 4:00 p.m. ET Cross Rate. Both are passively managed. Over the past 5 years, JQUA returned 13.30%/yr vs 22.89%/yr for YCS. Their 0.04 correlation means their historical movements had little consistent relationship. JQUA charges 0.12%/yr vs 0.95%/yr for YCS.
Performance
JQUA vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, JQUA achieves a 17.99% return, which is significantly higher than YCS's 5.40% return.
JQUA
- 1D
- -0.52%
- 1M
- 2.57%
- 6M
- 17.47%
- YTD
- 17.99%
- 1Y
- 24.19%
- 3Y*
- 20.00%
- 5Y*
- 13.30%
- 10Y*
- —
- ALL TIME*
- 15.03%
YCS
- 1D
- -0.02%
- 1M
- -4.94%
- 6M
- 4.42%
- YTD
- 5.40%
- 1Y
- 22.68%
- 3Y*
- 17.44%
- 5Y*
- 22.89%
- 10Y*
- 13.35%
- ALL TIME*
- 6.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $36.49M | $32.35M | $37.72M | |
| $2.59M | $2.15M | $1.60M |
JQUA vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JQUA JPMorgan U.S. Quality Factor ETF | 17.99% | 11.69% | 21.21% | 25.13% | -13.45% | 28.68% | 16.56% | 28.47% | -2.98% | 5.07% |
YCS ProShares UltraShort Yen | 5.40% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -1.52% |
Correlation
The correlation between JQUA and YCS is -0.16, 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. | -0.16 |
Correlation (3Y) Balances recent behavior with more history. | -0.05 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.04 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2017 | 0.04 |
The correlation between JQUA and YCS shifts across timeframes, from -0.16 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JQUA vs. YCS — Risk / Return Rank
JQUA
YCS
JQUA vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Quality Factor ETF (JQUA) 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.
| JQUA | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.27 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 2.69 | +0.72 |
| Martin ratioReturn relative to average drawdown | 13.94 | 9.73 | +4.21 |
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Drawdowns
JQUA vs. YCS - Drawdown Comparison
The maximum JQUA drawdown since its inception was -32.92%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for JQUA and YCS.
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Drawdown Indicators
| JQUA | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.92% | -49.56% | +16.64% |
Max Drawdown (1Y)Largest decline over 1 year | -7.13% | -8.48% | +1.35% |
Max Drawdown (3Y)Largest decline over 3 years | -16.81% | -23.05% | +6.24% |
Max Drawdown (5Y)Largest decline over 5 years | -22.47% | -27.32% | +4.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -0.52% | -7.34% | +6.82% |
Average DrawdownAverage peak-to-trough decline | -4.10% | -19.75% | +15.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 2.34% | -0.60% |
Volatility
JQUA vs. YCS - Volatility Comparison
The current volatility for JPMorgan U.S. Quality Factor ETF (JQUA) is 3.38%, while ProShares UltraShort Yen (YCS) has a volatility of 5.95%. This indicates that JQUA 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
| JQUA | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.38% | 5.95% | -2.57% |
Volatility (6M)Calculated over the trailing 6-month period | 9.62% | 11.87% | -2.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.14% | 16.43% | -4.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.77% | 21.21% | -5.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.93% | 18.61% | -0.68% |
JQUA vs. YCS - Expense Ratio Comparison
JQUA has a 0.12% expense ratio, which is lower than YCS's 0.95% expense ratio.
Dividends
JQUA vs. YCS - Dividend Comparison
JQUA's dividend yield for the trailing twelve months is around 1.05%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
JQUA JPMorgan U.S. Quality Factor ETF | 1.05% | 1.19% | 1.24% | 1.21% | 1.60% | 1.32% | 1.44% | 1.67% | 2.10% | 0.40% |
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
JQUA and YCS have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCS has higher volatility (5.95%) compared to JQUA (3.38%). In terms of maximum drawdown, JQUA dropped -32.92% vs YCS's -49.56%.
On 5-year performance, YCS leads with 22.89% vs 13.30% for JQUA. On fees, JQUA is cheaper at 0.12% per year. On volatility, JQUA has been the lower-risk option at 3.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, YCS has performed better with a 22.89% return vs 13.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JQUA is cheaper with a 0.12% expense ratio, compared with 0.95% for YCS.
JQUA has the higher dividend yield at 1.05%, compared with 0.00% for YCS.
JQUA is categorized as Quality Factor, while YCS is Leveraged Currency. JQUA tracks JP Morgan US Quality Factor Index, while YCS tracks JPY/USD 4:00 p.m. ET Cross Rate. They also come from different issuers: JPMorgan and ProShares. Their fees differ too: 0.12% for JQUA and 0.95% for YCS.
JQUA currently has the higher Sharpe Ratio (2.00 vs 1.39), 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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