JULU vs. YCS

Last updated Jun 23, 2026

JULU (AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - JULU is a Defined Outcome fund actively managed by Allianz, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). JULU is actively managed, while YCS is passively managed. Over the past year, JULU returned 20.76% vs 31.36% for YCS. At a 0.00 correlation, their price movements are largely independent. JULU charges 0.74%/yr vs 1.00%/yr for YCS.

Performance

JULU vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF (JULU) 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, JULU achieves a 7.58% return, which is significantly lower than YCS's 9.78% return.

JULU

• 1D: -0.34%
• 1M: -0.13%
• YTD: 7.58%
• 6M: 7.39%
• 1Y: 20.76%
• 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)

JULU vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JULU AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF	7.58%	12.19%	5.76%
YCS ProShares UltraShort Yen	9.78%	9.04%	-1.84%

Correlation

The correlation between JULU and YCS is -0.20, 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	-0.20
Correlation (All Time) Calculated using the full available price history since Jul 1, 2024	0.00

The correlation between JULU and YCS shifts across timeframes, from -0.20 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JULU vs. YCS — Risk / Return Rank

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

JULU

JULU Risk / Return Rank: 63
JULU Sharpe Ratio Rank: 63
JULU Sortino Ratio Rank: 61
JULU Omega Ratio Rank: 62
JULU Calmar Ratio Rank: 62
JULU Martin Ratio Rank: 66

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.

JULU vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF (JULU) 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.

	JULU	YCS	Difference
Sharpe ratio: Return per unit of total volatility	2.01	1.86	+0.15
Sortino ratio: Return per unit of downside risk	2.77	2.37	+0.40
Omega ratio: Gain probability vs. loss probability	1.37	1.35	+0.02
Calmar ratio: Return relative to maximum drawdown	2.96	3.79	-0.83
Martin ratio: Return relative to average drawdown	11.73	11.86	-0.13

JULU vs. YCS - Sharpe Ratio Comparison

The current JULU Sharpe Ratio is 2.01, which is comparable to the YCS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of JULU 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

JULU vs. YCS - Drawdown Comparison

The maximum JULU drawdown since its inception was -12.46%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for JULU and YCS.

Drawdown Indicators

	JULU	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-12.46%	-49.56%	+37.10%
Max Drawdown (1Y) Largest decline over 1 year	-7.04%	-8.30%	+1.26%
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	-1.78%	0.00%	-1.78%
Average Drawdown Average peak-to-trough decline	-1.94%	-19.88%	+17.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.77%	2.65%	-0.88%

Volatility

JULU vs. YCS - Volatility Comparison

AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF (JULU) has a higher volatility of 4.60% compared to ProShares UltraShort Yen (YCS) at 2.22%. This indicates that JULU'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.

Volatility by Period

	JULU	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	2.22%	+2.38%
Volatility (6M) Calculated over the trailing 6-month period	8.31%	12.19%	-3.88%
Volatility (1Y) Calculated over the trailing 1-year period	10.40%	16.96%	-6.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.64%	21.10%	-9.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.64%	18.96%	-7.32%

JULU vs. YCS - Expense Ratio Comparison

JULU has a 0.74% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

JULU vs. YCS - Dividend Comparison

Neither JULU nor YCS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JULU and YCS in my portfolio?

JULU and YCS have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JULU or YCS?

JULU has higher volatility (4.60%) compared to YCS (2.22%). In terms of maximum drawdown, JULU dropped -12.46% vs YCS's -49.56%.

Which ETF is better, JULU or YCS?

On 1-year performance, YCS leads with 31.36% vs 20.76% for JULU. On fees, JULU is cheaper at 0.74% per year. On volatility, YCS has been the lower-risk option at 2.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JULU or YCS?

Over the 1-year period, YCS has performed better with a 31.36% return vs 20.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JULU or YCS?

JULU is cheaper with a 0.74% expense ratio, compared with 1.00% for YCS.

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

JULU and YCS have nearly identical dividend yields, around 0.00%.

What is the main difference between JULU and YCS?

JULU is categorized as Defined Outcome, while YCS is Leveraged Currency. They also come from different issuers: Allianz and ProShares. Their fees differ too: 0.74% for JULU and 1.00% for YCS.

Which has better risk-adjusted returns?

JULU currently has the higher Sharpe Ratio (2.01 vs 1.86), 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.