PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
PBE vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PBE vs. YCS

Last updated Jun 3, 2026

PBE (Invesco Dynamic Biotechnology & Genome ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - PBE is a Health & Biotech Equities fund tracking the Dynamic Biotech & Genome Intellidex Index (AMEX), while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, PBE returned 7.34%/yr vs 12.32%/yr for YCS. At a 0.13 correlation, their price movements are largely independent. PBE charges 0.59%/yr vs 1.00%/yr for YCS.

Performance

PBE vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Biotechnology & Genome ETF (PBE) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, PBE achieves a -1.43% return, which is significantly lower than YCS's 6.99% return. Over the past 10 years, PBE has underperformed YCS with an annualized return of 7.34%, while YCS has yielded a comparatively higher 12.32% annualized return.

PBE

1D
-2.22%
1M
1.51%
YTD
-1.43%
6M
-0.16%
1Y
28.65%
3Y*
9.70%
5Y*
2.89%
10Y*
7.34%

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)

PBE vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PBE
Invesco Dynamic Biotechnology & Genome ETF		-1.43%24.84%1.10%3.71%-10.83%1.54%25.66%18.65%-0.19%22.28%
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 PBE and YCS is -0.28, 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

-0.28

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

-0.11

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

-0.08

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

0.04

Correlation (All Time)
Calculated using the full available price history since Nov 26, 2008

0.13

The correlation between PBE and YCS shifts across timeframes, from -0.28 (1 year) to 0.13 (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.

Invesco Dynamic Biotechnology & Genome ETF

ProShares UltraShort Yen

Often compared with PBE:
PBE vs. BBHPBE vs. XBIPBE vs. ARKGPBE vs. IDNAPBE vs. IBBPBE vs. PJPPBE vs. FBT
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

PBE vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PBE
PBE Risk / Return Rank: 4646
Overall Rank
PBE Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
PBE Sortino Ratio Rank: 4747
Sortino Ratio Rank
PBE Omega Ratio Rank: 4141
Omega Ratio Rank
PBE Calmar Ratio Rank: 5252
Calmar Ratio Rank
PBE Martin Ratio Rank: 4444
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.

PBE vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Biotechnology & Genome ETF (PBE) 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.

PBEYCSDifference

Sharpe ratio

Return per unit of total volatility

1.55

2.05

-0.50

Sortino ratio

Return per unit of downside risk

2.33

2.59

-0.26

Omega ratio

Gain probability vs. loss probability

1.27

1.37

-0.10

Calmar ratio

Return relative to maximum drawdown

2.62

3.95

-1.33

Martin ratio

Return relative to average drawdown

7.37

12.35

-4.98

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

PBE vs. YCS - Sharpe Ratio Comparison

The current PBE Sharpe Ratio is 1.55, which is comparable to the YCS Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of PBE 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.

Loading charts...

Sharpe Ratios by Period

PBEYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.55

2.05

-0.50

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.13

1.10

-0.97

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.30

0.65

-0.35

Sharpe Ratio (All Time)

Calculated using the full available price history

0.32

0.33

-0.01

Drawdowns

PBE vs. YCS - Drawdown Comparison

The maximum PBE drawdown since its inception was -45.69%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for PBE and YCS.

Loading charts...

Drawdown Indicators

PBEYCSDifference

Max Drawdown

Largest peak-to-trough decline

-45.69%

-49.56%

+3.87%

Max Drawdown (1Y)

Largest decline over 1 year

-11.73%

-8.30%

-3.43%

Max Drawdown (3Y)

Largest decline over 3 years

-22.43%

-23.05%

+0.62%

Max Drawdown (5Y)

Largest decline over 5 years

-34.71%

-27.32%

-7.39%

Max Drawdown (10Y)

Largest decline over 10 years

-37.84%

-27.32%

-10.52%

Current Drawdown

Current decline from peak

-5.55%

-0.04%

-5.51%

Average Drawdown

Average peak-to-trough decline

-16.24%

-19.94%

+3.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.17%

2.66%

+1.51%

Volatility

PBE vs. YCS - Volatility Comparison

Invesco Dynamic Biotechnology & Genome ETF (PBE) has a higher volatility of 5.33% compared to ProShares UltraShort Yen (YCS) at 2.75%. This indicates that PBE'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.

Loading charts...

Volatility by Period

PBEYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.33%

2.75%

+2.58%

Volatility (6M)

Calculated over the trailing 6-month period

13.30%

12.36%

+0.94%

Volatility (1Y)

Calculated over the trailing 1-year period

18.67%

17.38%

+1.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.52%

21.11%

+1.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.91%

19.02%

+5.89%

PBE vs. YCS - Expense Ratio Comparison

PBE has a 0.59% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

PBE vs. YCS - Dividend Comparison

PBE's dividend yield for the trailing twelve months is around 1.07%, while YCS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
PBE
Invesco Dynamic Biotechnology & Genome ETF		1.07%1.00%0.05%0.02%0.00%0.00%0.04%0.00%0.00%0.57%0.38%1.12%
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

PBE and YCS have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PBE has higher volatility (5.33%) compared to YCS (2.75%). In terms of maximum drawdown, PBE dropped -45.69% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.32% vs 7.34% for PBE. On fees, PBE is cheaper at 0.59% per year. On volatility, YCS has been the lower-risk option at 2.75%. 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 7.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

PBE is cheaper with a 0.59% expense ratio, compared with 1.00% for YCS.

PBE has the higher dividend yield at 1.07%, compared with 0.00% for YCS.

PBE is categorized as Health & Biotech Equities, while YCS is Leveraged Currency. PBE tracks Dynamic Biotech & Genome Intellidex Index (AMEX), while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.59% for PBE and 1.00% for YCS.

YCS currently has the higher Sharpe Ratio (2.05 vs 1.55), 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

Find the right allocation for PBE and YCS

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer