JULH vs. YCS

Last updated Jun 23, 2026

JULH (Innovator Premium Income 20 Barrier ETF - July) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - JULH is a Options Trading fund actively managed by Innovator, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). JULH is actively managed, while YCS is passively managed. Over the past year, JULH returned 5.09% vs 31.36% for YCS. At a correlation of -0.02, they often move in opposite directions. JULH charges 0.79%/yr vs 1.00%/yr for YCS.

Performance

JULH vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Premium Income 20 Barrier ETF - July (JULH) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JULH achieves a 2.40% return, which is significantly lower than YCS's 9.78% return.

JULH

• 1D: 0.02%
• 1M: 0.26%
• YTD: 2.40%
• 6M: 0.84%
• 1Y: 5.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YCS

• 1D: 0.40%
• 1M: 3.71%
• YTD: 9.78%
• 6M: 9.63%
• 1Y: 31.36%
• 3Y*: 18.43%
• 5Y*: 23.50%
• 10Y*: 13.63%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JULH vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JULH Innovator Premium Income 20 Barrier ETF - July	2.40%	5.39%	6.93%	4.51%
YCS ProShares UltraShort Yen	9.78%	9.04%	35.41%	1.46%

Correlation

The correlation between JULH and YCS is -0.13, 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	-0.13
Correlation (All Time) Calculated using the full available price history since Jul 3, 2023	-0.02

The correlation between JULH and YCS shifts across timeframes, from -0.13 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JULH vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JULH

JULH Risk / Return Rank: 59
JULH Sharpe Ratio Rank: 56
JULH Sortino Ratio Rank: 49
JULH Omega Ratio Rank: 82
JULH Calmar Ratio Rank: 62
JULH Martin Ratio Rank: 46

YCS

YCS Risk / Return Rank: 61
YCS Sharpe Ratio Rank: 57
YCS Sortino Ratio Rank: 49
YCS Omega Ratio Rank: 57
YCS Calmar Ratio Rank: 77
YCS Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JULH vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 20 Barrier ETF - July (JULH) 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.

	JULH	YCS	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.86	-0.03
Sortino ratio: Return per unit of downside risk	2.33	2.37	-0.04
Omega ratio: Gain probability vs. loss probability	1.47	1.35	+0.13
Calmar ratio: Return relative to maximum drawdown	2.97	3.79	-0.83
Martin ratio: Return relative to average drawdown	7.51	11.86	-4.35

JULH vs. YCS - Sharpe Ratio Comparison

The current JULH Sharpe Ratio is 1.83, which is comparable to the YCS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of JULH and YCS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JULH vs. YCS - Drawdown Comparison

The maximum JULH drawdown since its inception was -5.51%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for JULH and YCS.

Drawdown Indicators

	JULH	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-5.51%	-49.56%	+44.05%
Max Drawdown (1Y) Largest decline over 1 year	-1.72%	-8.30%	+6.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.32%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.27%	-19.88%	+19.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	2.65%	-1.97%

Volatility

JULH vs. YCS - Volatility Comparison

The current volatility for Innovator Premium Income 20 Barrier ETF - July (JULH) is 0.09%, while ProShares UltraShort Yen (YCS) has a volatility of 2.22%. This indicates that JULH 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.

Volatility by Period

	JULH	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.09%	2.22%	-2.13%
Volatility (6M) Calculated over the trailing 6-month period	2.24%	12.19%	-9.95%
Volatility (1Y) Calculated over the trailing 1-year period	2.80%	16.96%	-14.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.72%	21.10%	-16.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.72%	18.96%	-14.24%

JULH vs. YCS - Expense Ratio Comparison

JULH has a 0.79% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

JULH vs. YCS - Dividend Comparison

JULH's dividend yield for the trailing twelve months is around 5.27%, while YCS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
JULH Innovator Premium Income 20 Barrier ETF - July	5.27%	5.31%	6.89%	3.67%
YCS ProShares UltraShort Yen	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JULH and YCS in my portfolio?

JULH 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.

Which is riskier, JULH or YCS?

YCS has higher volatility (2.22%) compared to JULH (0.09%). In terms of maximum drawdown, JULH dropped -5.51% vs YCS's -49.56%.

Which ETF is better, JULH or YCS?

On 1-year performance, YCS leads with 31.36% vs 5.09% for JULH. On fees, JULH is cheaper at 0.79% per year. On volatility, JULH has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JULH or YCS?

Over the 1-year period, YCS has performed better with a 31.36% return vs 5.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JULH or YCS?

JULH is cheaper with a 0.79% expense ratio, compared with 1.00% for YCS.

Which ETF pays a higher dividend yield, JULH or YCS?

JULH has the higher dividend yield at 5.27%, compared with 0.00% for YCS.

What is the main difference between JULH and YCS?

JULH is categorized as Options Trading, while YCS is Leveraged Currency. They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for JULH and 1.00% for YCS.

Which has better risk-adjusted returns?

YCS currently has the higher Sharpe Ratio (1.86 vs 1.83), 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.