ONLN vs. YCS
ONLN (ProShares Online Retail ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - ONLN is a Consumer Discretionary Equities fund tracking the ProShares Online Retail Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 5 years, ONLN returned -7.59%/yr vs 23.50%/yr for YCS. At a 0.02 correlation, their price movements are largely independent. ONLN charges 0.58%/yr vs 1.00%/yr for YCS.
Performance
ONLN vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, ONLN achieves a -9.47% return, which is significantly lower than YCS's 9.78% return.
ONLN
- 1D
- -3.29%
- 1M
- -6.53%
- YTD
- -9.47%
- 6M
- -10.04%
- 1Y
- 9.08%
- 3Y*
- 19.43%
- 5Y*
- -7.59%
- 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%
ONLN vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ONLN ProShares Online Retail ETF | -9.47% | 33.03% | 24.85% | 27.37% | -50.07% | -25.22% | 111.82% | 19.93% | -24.66% |
YCS ProShares UltraShort Yen | 9.78% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -2.46% |
Correlation
The correlation between ONLN and YCS is -0.15, 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 | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2018 | 0.02 |
The correlation between ONLN and YCS shifts across timeframes, from -0.15 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ONLN vs. YCS — Risk / Return Rank
ONLN
YCS
ONLN vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Online Retail ETF (ONLN) 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.
| ONLN | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.49 | ||
| Sortino ratioReturn per unit of downside risk | -1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.35 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 3.79 | -3.33 |
| Martin ratioReturn relative to average drawdown | 1.10 | 11.86 | -10.76 |
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Drawdowns
ONLN vs. YCS - Drawdown Comparison
The maximum ONLN drawdown since its inception was -71.77%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for ONLN and YCS.
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Drawdown Indicators
| ONLN | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.77% | -49.56% | -22.21% |
Max Drawdown (1Y)Largest decline over 1 year | -19.75% | -8.30% | -11.45% |
Max Drawdown (3Y)Largest decline over 3 years | -27.97% | -23.05% | -4.92% |
Max Drawdown (5Y)Largest decline over 5 years | -69.19% | -27.32% | -41.87% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -41.38% | 0.00% | -41.38% |
Average DrawdownAverage peak-to-trough decline | -35.44% | -19.88% | -15.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.30% | 2.65% | +5.65% |
Volatility
ONLN vs. YCS - Volatility Comparison
ProShares Online Retail ETF (ONLN) has a higher volatility of 7.41% compared to ProShares UltraShort Yen (YCS) at 2.22%. This indicates that ONLN'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
| ONLN | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.41% | 2.22% | +5.19% |
Volatility (6M)Calculated over the trailing 6-month period | 18.32% | 12.19% | +6.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.39% | 16.96% | +7.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.15% | 21.10% | +12.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.08% | 18.96% | +13.12% |
ONLN vs. YCS - Expense Ratio Comparison
ONLN has a 0.58% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
ONLN vs. YCS - Dividend Comparison
ONLN's dividend yield for the trailing twelve months is around 0.36%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
ONLN ProShares Online Retail ETF | 0.36% | 0.30% | 0.75% | 0.00% | 0.00% | 0.00% | 1.24% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ONLN and YCS have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ONLN has higher volatility (7.41%) compared to YCS (2.22%). In terms of maximum drawdown, ONLN dropped -71.77% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.50% vs -7.59% for ONLN. On fees, ONLN is cheaper at 0.58% 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.
Over the 5-year period, YCS has performed better with a 23.50% return vs -7.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ONLN is cheaper with a 0.58% expense ratio, compared with 1.00% for YCS.
ONLN has the higher dividend yield at 0.36%, compared with 0.00% for YCS.
ONLN is categorized as Consumer Discretionary Equities, while YCS is Leveraged Currency. ONLN tracks ProShares Online Retail Index, while YCS tracks USD/JPY Exchange Rate (-200%). Their fees differ too: 0.58% for ONLN and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.86 vs 0.37), 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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