NBCE vs. YCS

Last updated Apr 1, 2026

Compare and contrast key facts about Neuberger Berman China Equity ETF (NBCE) and ProShares UltraShort Yen (YCS).

NBCE and YCS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NBCE is an actively managed fund by Neuberger Berman. It was launched on Oct 13, 2023. YCS is a passively managed fund by ProShares that tracks the performance of the USD/JPY Exchange Rate (-200%). It was launched on Nov 25, 2008.

Performance

NBCE vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman China Equity ETF (NBCE) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

NBCE vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NBCE Neuberger Berman China Equity ETF	3.33%	39.08%	3.35%	-2.22%
YCS ProShares UltraShort Yen	4.09%	9.04%	35.41%	-8.80%

Returns By Period

In the year-to-date period, NBCE achieves a 3.33% return, which is significantly lower than YCS's 4.09% return.

NBCE

• 1D: 0.92%
• 1M: -6.23%
• YTD: 3.33%
• 6M: 4.66%
• 1Y: 32.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YCS

• 1D: -1.38%
• 1M: 3.58%
• YTD: 4.09%
• 6M: 18.84%
• 1Y: 19.59%
• 3Y*: 23.69%
• 5Y*: 22.26%
• 10Y*: 10.90%

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

NBCE vs. YCS - Expense Ratio Comparison

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

YCS

ProShares UltraShort Yen

NBCE

Neuberger Berman China Equity ETF

Return for Risk

NBCE vs. YCS — Risk / Return Rank

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

NBCE

NBCE Risk / Return Rank: 82
NBCE Sharpe Ratio Rank: 82
NBCE Sortino Ratio Rank: 79
NBCE Omega Ratio Rank: 80
NBCE Calmar Ratio Rank: 82
NBCE Martin Ratio Rank: 86

YCS

YCS Risk / Return Rank: 54
YCS Sharpe Ratio Rank: 54
YCS Sortino Ratio Rank: 53
YCS Omega Ratio Rank: 48
YCS Calmar Ratio Rank: 67
YCS Martin Ratio Rank: 49

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.

NBCE vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman China Equity ETF (NBCE) 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.

	NBCE	YCS	Difference
Sharpe ratio Return per unit of total volatility	1.60	0.94	+0.65
Sortino ratio Return per unit of downside risk	2.07	1.36	+0.71
Omega ratio Gain probability vs. loss probability	1.31	1.18	+0.13
Calmar ratio Return relative to maximum drawdown	2.40	1.67	+0.73
Martin ratio Return relative to average drawdown	10.50	4.52	+5.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NBCE vs. YCS - Sharpe Ratio Comparison

The current NBCE Sharpe Ratio is 1.60, which is higher than the YCS Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of NBCE and YCS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NBCE	YCS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.60	0.94	+0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.07	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.32	+0.36

Correlation

The correlation between NBCE and YCS is -0.14. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

NBCE vs. YCS - Dividend Comparison

NBCE's dividend yield for the trailing twelve months is around 1.28%, while YCS has not paid dividends to shareholders.

	TTM	2025	2024
NBCE Neuberger Berman China Equity ETF	1.28%	1.32%	1.20%
YCS ProShares UltraShort Yen	0.00%	0.00%	0.00%

Drawdowns

NBCE vs. YCS - Drawdown Comparison

The maximum NBCE drawdown since its inception was -28.42%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for NBCE and YCS.

Drawdown Indicators

	NBCE	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-28.42%	-49.56%	+21.14%
Max Drawdown (1Y) Largest decline over 1 year	-13.27%	-12.07%	-1.20%
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	-7.12%	-1.87%	-5.25%
Average Drawdown Average peak-to-trough decline	-9.67%	-20.12%	+10.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	4.45%	-1.31%

Volatility

NBCE vs. YCS - Volatility Comparison

Neuberger Berman China Equity ETF (NBCE) has a higher volatility of 6.96% compared to ProShares UltraShort Yen (YCS) at 4.81%. This indicates that NBCE'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

	NBCE	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	4.81%	+2.15%
Volatility (6M) Calculated over the trailing 6-month period	13.54%	12.33%	+1.21%
Volatility (1Y) Calculated over the trailing 1-year period	20.37%	20.84%	-0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.20%	20.93%	+3.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.20%	19.23%	+4.97%