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MDIV vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MDIV vs. YCS

Last updated Jun 3, 2026

MDIV (First Trust Multi-Asset Diversified Income Index Fund) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - MDIV is a Diversified Portfolio fund tracking the NASDAQ US Multi-Asset Diversified Income Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, MDIV returned 4.73%/yr vs 12.32%/yr for YCS. At a 0.07 correlation, their price movements are largely independent. MDIV charges 0.73%/yr vs 1.00%/yr for YCS.

Performance

MDIV vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Multi-Asset Diversified Income Index Fund (MDIV) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MDIV achieves a 8.39% return, which is significantly higher than YCS's 6.99% return. Over the past 10 years, MDIV has underperformed YCS with an annualized return of 4.73%, while YCS has yielded a comparatively higher 12.32% annualized return.

MDIV

1D
0.50%
1M
0.27%
YTD
8.39%
6M
8.59%
1Y
11.76%
3Y*
11.65%
5Y*
5.85%
10Y*
4.73%

YCS

1D
0.03%
1M
4.27%
YTD
6.99%
6M
8.81%
1Y
35.19%
3Y*
19.77%
5Y*
23.16%
10Y*
12.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MDIV vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MDIV
First Trust Multi-Asset Diversified Income Index Fund		8.39%3.77%10.05%11.50%-3.86%16.51%-14.84%18.59%-5.78%5.61%
YCS
ProShares UltraShort Yen		6.99%9.04%35.41%28.70%29.09%22.38%-11.18%3.37%-1.49%-6.57%

Correlation

The correlation between MDIV and YCS is -0.27, 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

-0.27

Correlation (3Y)
Calculated over the trailing 3-year period

-0.19

Correlation (5Y)
Calculated over the trailing 5-year period

-0.14

Correlation (10Y)
Calculated over the trailing 10-year period

0.01

Correlation (All Time)
Calculated using the full available price history since Aug 15, 2012

0.07

The correlation between MDIV and YCS shifts across timeframes, from -0.27 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust Multi-Asset Diversified Income Index Fund

ProShares UltraShort Yen

Often compared with MDIV:
MDIV vs. HNDLMDIV vs. IYLDMDIV vs. GAAMDIV vs. HYINMDIV vs. PCEFMDIV vs. AOAMDIV vs. AOR
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

MDIV vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MDIV
MDIV Risk / Return Rank: 5656
Overall Rank
MDIV Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
MDIV Sortino Ratio Rank: 5454
Sortino Ratio Rank
MDIV Omega Ratio Rank: 4949
Omega Ratio Rank
MDIV Calmar Ratio Rank: 6868
Calmar Ratio Rank
MDIV Martin Ratio Rank: 5555
Martin Ratio Rank
YCS
YCS Risk / Return Rank: 6363
Overall Rank
YCS Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
YCS Sortino Ratio Rank: 5353
Sortino Ratio Rank
YCS Omega Ratio Rank: 6060
Omega Ratio Rank
YCS Calmar Ratio Rank: 7777
Calmar Ratio Rank
YCS Martin Ratio Rank: 6666
Martin Ratio Rank
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.

MDIV vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Multi-Asset Diversified Income Index Fund (MDIV) 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.

MDIVYCSDifference

Sharpe ratio

Return per unit of total volatility

1.77

2.05

-0.28

Sortino ratio

Return per unit of downside risk

2.61

2.59

+0.03

Omega ratio

Gain probability vs. loss probability

1.31

1.37

-0.06

Calmar ratio

Return relative to maximum drawdown

3.49

3.95

-0.46

Martin ratio

Return relative to average drawdown

9.75

12.35

-2.60

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MDIV vs. YCS - Sharpe Ratio Comparison

The current MDIV Sharpe Ratio is 1.77, which is comparable to the YCS Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of MDIV 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.

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Sharpe Ratios by Period

MDIVYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.77

2.05

-0.28

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.54

1.10

-0.57

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.31

0.65

-0.34

Sharpe Ratio (All Time)

Calculated using the full available price history

0.35

0.33

+0.02

Drawdowns

MDIV vs. YCS - Drawdown Comparison

The maximum MDIV drawdown since its inception was -48.50%, roughly equal to the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for MDIV and YCS.

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Drawdown Indicators

MDIVYCSDifference

Max Drawdown

Largest peak-to-trough decline

-48.50%

-49.56%

+1.06%

Max Drawdown (1Y)

Largest decline over 1 year

-3.39%

-8.30%

+4.91%

Max Drawdown (3Y)

Largest decline over 3 years

-9.62%

-23.05%

+13.43%

Max Drawdown (5Y)

Largest decline over 5 years

-13.02%

-27.32%

+14.30%

Max Drawdown (10Y)

Largest decline over 10 years

-48.50%

-27.32%

-21.18%

Current Drawdown

Current decline from peak

-0.49%

-0.04%

-0.45%

Average Drawdown

Average peak-to-trough decline

-4.59%

-19.94%

+15.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.21%

2.66%

-1.45%

Volatility

MDIV vs. YCS - Volatility Comparison

The current volatility for First Trust Multi-Asset Diversified Income Index Fund (MDIV) is 1.55%, while ProShares UltraShort Yen (YCS) has a volatility of 2.75%. This indicates that MDIV 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

MDIVYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.55%

2.75%

-1.20%

Volatility (6M)

Calculated over the trailing 6-month period

4.29%

12.36%

-8.07%

Volatility (1Y)

Calculated over the trailing 1-year period

6.67%

17.38%

-10.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.93%

21.11%

-10.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.23%

19.02%

-3.79%

MDIV vs. YCS - Expense Ratio Comparison

MDIV has a 0.73% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

MDIV vs. YCS - Dividend Comparison

MDIV's dividend yield for the trailing twelve months is around 6.35%, while YCS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
MDIV
First Trust Multi-Asset Diversified Income Index Fund		6.35%6.51%6.40%6.08%6.71%5.30%6.00%5.90%6.76%6.04%6.35%7.38%
YCS
ProShares UltraShort Yen		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

MDIV and YCS have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

YCS has higher volatility (2.75%) compared to MDIV (1.55%). In terms of maximum drawdown, MDIV dropped -48.50% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.32% vs 4.73% for MDIV. On fees, MDIV is cheaper at 0.73% per year. On volatility, MDIV has been the lower-risk option at 1.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, YCS has performed better with a 12.32% return vs 4.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

MDIV is cheaper with a 0.73% expense ratio, compared with 1.00% for YCS.

MDIV has the higher dividend yield at 6.35%, compared with 0.00% for YCS.

MDIV is categorized as Diversified Portfolio, while YCS is Leveraged Currency. MDIV tracks NASDAQ US Multi-Asset Diversified Income Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.73% for MDIV and 1.00% for YCS.

YCS currently has the higher Sharpe Ratio (2.05 vs 1.77), 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.

Portfolio Optimizer

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