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ONEY vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ONEY vs. YCS

Last updated Jun 4, 2026

ONEY (SPDR Russell 1000 Yield Focus ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - ONEY is a Mid Cap Value Equities fund tracking the Russell 1000 Yield Focused Factor Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, ONEY returned 12.04%/yr vs 12.34%/yr for YCS. At a 0.07 correlation, their price movements are largely independent. ONEY charges 0.20%/yr vs 1.00%/yr for YCS.

Performance

ONEY vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Russell 1000 Yield Focus ETF (ONEY) 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, ONEY achieves a 14.26% return, which is significantly higher than YCS's 7.17% return. Both investments have delivered pretty close results over the past 10 years, with ONEY having a 12.04% annualized return and YCS not far ahead at 12.34%.

ONEY

1D
-0.18%
1M
3.52%
YTD
14.26%
6M
14.38%
1Y
23.42%
3Y*
15.65%
5Y*
8.74%
10Y*
12.04%

YCS

1D
0.17%
1M
4.42%
YTD
7.17%
6M
10.05%
1Y
32.82%
3Y*
19.84%
5Y*
23.54%
10Y*
12.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ONEY vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ONEY
SPDR Russell 1000 Yield Focus ETF		14.26%7.74%11.63%11.12%-3.60%37.11%2.17%27.45%-8.71%15.46%
YCS
ProShares UltraShort Yen		7.17%9.04%35.41%28.70%29.09%22.38%-11.18%3.37%-1.49%-6.57%

Correlation

The correlation between ONEY and YCS is -0.17, 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

-0.17

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

-0.10

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

-0.06

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

0.06

Correlation (All Time)
Calculated using the full available price history since Dec 4, 2015

0.07

The correlation between ONEY and YCS shifts across timeframes, from -0.17 (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.

SPDR Russell 1000 Yield Focus ETF

ProShares UltraShort Yen

Often compared with ONEY:
ONEY vs. ONEVONEY vs. SCHDONEY vs. ONEOONEY vs. RWKONEY vs. RFVONEY vs. VOEONEY vs. FSPGX
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

ONEY vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ONEY
ONEY Risk / Return Rank: 5858
Overall Rank
ONEY Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
ONEY Sortino Ratio Rank: 6060
Sortino Ratio Rank
ONEY Omega Ratio Rank: 5454
Omega Ratio Rank
ONEY Calmar Ratio Rank: 6262
Calmar Ratio Rank
ONEY Martin Ratio Rank: 6262
Martin Ratio Rank
YCS
YCS Risk / Return Rank: 6161
Overall Rank
YCS Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
YCS Sortino Ratio Rank: 4949
Sortino Ratio Rank
YCS Omega Ratio Rank: 5656
Omega Ratio Rank
YCS Calmar Ratio Rank: 7878
Calmar Ratio Rank
YCS Martin Ratio Rank: 6767
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.

ONEY vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Yield Focus ETF (ONEY) 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.

ONEYYCSDifference
Sharpe ratioReturn per unit of total volatility
1.90
1.92

-0.02

Sortino ratioReturn per unit of downside risk
2.86
2.44

+0.41

Omega ratioGain probability vs. loss probability

1.34

1.35

-0.01

Calmar ratioReturn relative to maximum drawdown

3.09

3.97

-0.88

Martin ratioReturn relative to average drawdown

11.15

12.40

-1.25

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

ONEY vs. YCS - Sharpe Ratio Comparison

The current ONEY Sharpe Ratio is 1.90, which is comparable to the YCS Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of ONEY 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

ONEYYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.90

1.92

-0.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.54

1.12

-0.58

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.61

0.65

-0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.62

0.33

+0.29

Drawdowns

ONEY vs. YCS - Drawdown Comparison

The maximum ONEY drawdown since its inception was -46.80%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for ONEY and YCS.

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Drawdown Indicators

ONEYYCSDifference

Max Drawdown

Largest peak-to-trough decline

-46.80%

-49.56%

+2.76%

Max Drawdown (1Y)

Largest decline over 1 year

-7.61%

-8.30%

+0.69%

Max Drawdown (3Y)

Largest decline over 3 years

-17.50%

-23.05%

+5.55%

Max Drawdown (5Y)

Largest decline over 5 years

-18.93%

-27.32%

+8.39%

Max Drawdown (10Y)

Largest decline over 10 years

-46.80%

-27.32%

-19.48%

Current Drawdown

Current decline from peak

-0.18%

0.00%

-0.18%

Average Drawdown

Average peak-to-trough decline

-4.98%

-19.93%

+14.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.11%

2.66%

-0.55%

Volatility

ONEY vs. YCS - Volatility Comparison

SPDR Russell 1000 Yield Focus ETF (ONEY) and ProShares UltraShort Yen (YCS) have volatilities of 2.78% and 2.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ONEYYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.78%

2.75%

+0.03%

Volatility (6M)

Calculated over the trailing 6-month period

8.42%

12.32%

-3.90%

Volatility (1Y)

Calculated over the trailing 1-year period

12.39%

17.27%

-4.88%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.15%

21.10%

-4.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.87%

19.01%

+0.86%

ONEY vs. YCS - Expense Ratio Comparison

ONEY has a 0.20% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

ONEY vs. YCS - Dividend Comparison

ONEY's dividend yield for the trailing twelve months is around 2.81%, while YCS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
ONEY
SPDR Russell 1000 Yield Focus ETF		2.81%3.15%3.18%3.14%3.17%2.46%2.74%3.17%3.72%10.73%6.31%0.29%
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

ONEY and YCS have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ONEY has higher volatility (2.78%) compared to YCS (2.75%). In terms of maximum drawdown, ONEY dropped -46.80% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.34% vs 12.04% for ONEY. On fees, ONEY is cheaper at 0.20% per year. Their volatility is very similar. 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 12.34% return vs 12.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ONEY is cheaper with a 0.20% expense ratio, compared with 1.00% for YCS.

ONEY has the higher dividend yield at 2.81%, compared with 0.00% for YCS.

ONEY is categorized as Mid Cap Value Equities, while YCS is Leveraged Currency. ONEY tracks Russell 1000 Yield Focused Factor Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.20% for ONEY and 1.00% for YCS.

YCS currently has the higher Sharpe Ratio (1.92 vs 1.90), 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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