KMAR vs. YCS
KMAR (Innovator U.S. Small Cap Power Buffer ETF - March) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - KMAR is a Defined Outcome fund tracking the iShares Russell 2000 ETF (IWM) Price Return, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past year, KMAR returned 24.52% vs 32.90% for YCS. At a correlation of -0.02, they often move in opposite directions. KMAR charges 0.79%/yr vs 1.00%/yr for YCS.
Performance
KMAR vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, KMAR achieves a 11.25% return, which is significantly higher than YCS's 9.35% return.
KMAR
- 1D
- 0.81%
- 1M
- 3.91%
- YTD
- 11.25%
- 6M
- 11.31%
- 1Y
- 24.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
YCS
- 1D
- 0.88%
- 1M
- 3.63%
- YTD
- 9.35%
- 6M
- 11.09%
- 1Y
- 32.90%
- 3Y*
- 19.46%
- 5Y*
- 23.76%
- 10Y*
- 13.18%
KMAR vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KMAR Innovator U.S. Small Cap Power Buffer ETF - March | 11.25% | 11.45% |
YCS ProShares UltraShort Yen | 9.35% | 14.74% |
Correlation
The correlation between KMAR and YCS is -0.23, 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 | -0.23 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2025 | -0.02 |
Over the past year, the inverse relationship between KMAR and YCS has strengthened: their correlation has moved from -0.02 to -0.23, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
KMAR vs. YCS — Risk / Return Rank
KMAR
YCS
KMAR vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Small Cap Power Buffer ETF - March (KMAR) 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.
| KMAR | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.36 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 5.03 | 3.98 | +1.05 |
| Martin ratioReturn relative to average drawdown | 20.60 | 12.43 | +8.17 |
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Drawdowns
KMAR vs. YCS - Drawdown Comparison
The maximum KMAR drawdown since its inception was -11.32%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for KMAR and YCS.
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Drawdown Indicators
| KMAR | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.32% | -49.56% | +38.24% |
Max Drawdown (1Y)Largest decline over 1 year | -4.89% | -8.30% | +3.41% |
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 DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.35% | -19.88% | +18.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 2.65% | -1.46% |
Volatility
KMAR vs. YCS - Volatility Comparison
Innovator U.S. Small Cap Power Buffer ETF - March (KMAR) has a higher volatility of 3.11% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that KMAR'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
| KMAR | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.11% | 2.25% | +0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 6.74% | 12.24% | -5.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.45% | 16.99% | -7.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.19% | 21.09% | -8.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.19% | 18.98% | -6.79% |
KMAR vs. YCS - Expense Ratio Comparison
KMAR has a 0.79% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
KMAR vs. YCS - Dividend Comparison
Neither KMAR nor YCS has paid dividends to shareholders.
Frequently Asked Questions
KMAR and YCS have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KMAR has higher volatility (3.11%) compared to YCS (2.25%). In terms of maximum drawdown, KMAR dropped -11.32% vs YCS's -49.56%.
On 1-year performance, YCS leads with 32.90% vs 24.52% for KMAR. On fees, KMAR is cheaper at 0.79% 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 1-year period, YCS has performed better with a 32.90% return vs 24.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KMAR is cheaper with a 0.79% expense ratio, compared with 1.00% for YCS.
KMAR and YCS have nearly identical dividend yields, around 0.00%.
KMAR is categorized as Defined Outcome, while YCS is Leveraged Currency. KMAR tracks iShares Russell 2000 ETF (IWM) Price Return, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for KMAR and 1.00% for YCS.
KMAR currently has the higher Sharpe Ratio (2.61 vs 1.95), 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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