PBJ vs. YCS
PBJ (Invesco Dynamic Food & Beverage ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - PBJ is a Consumer Staples Equities fund tracking the Dynamic Food & Beverage Intellidex Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, PBJ returned 5.17%/yr vs 13.62%/yr for YCS. At a 0.13 correlation, their price movements are largely independent. PBJ charges 0.63%/yr vs 1.00%/yr for YCS.
Performance
PBJ vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, PBJ achieves a 5.32% return, which is significantly lower than YCS's 9.63% return. Over the past 10 years, PBJ has underperformed YCS with an annualized return of 5.17%, while YCS has yielded a comparatively higher 13.62% annualized return.
PBJ
- 1D
- 1.57%
- 1M
- -2.97%
- YTD
- 5.32%
- 6M
- 4.88%
- 1Y
- -0.24%
- 3Y*
- 2.47%
- 5Y*
- 3.75%
- 10Y*
- 5.17%
YCS
- 1D
- -0.14%
- 1M
- 3.57%
- YTD
- 9.63%
- 6M
- 10.44%
- 1Y
- 31.27%
- 3Y*
- 18.37%
- 5Y*
- 23.52%
- 10Y*
- 13.62%
PBJ vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBJ Invesco Dynamic Food & Beverage ETF | 5.32% | -1.86% | 2.49% | 2.31% | 3.14% | 26.88% | 5.53% | 17.50% | -11.21% | 1.87% |
YCS ProShares UltraShort Yen | 9.63% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between PBJ and YCS is -0.16, 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 | -0.16 |
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 | 0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | 0.13 |
The correlation between PBJ and YCS shifts across timeframes, from -0.16 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PBJ vs. YCS — Risk / Return Rank
PBJ
YCS
PBJ vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Food & Beverage ETF (PBJ) 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.
| PBJ | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.87 | ||
| Sortino ratioReturn per unit of downside risk | -2.30 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.34 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 3.78 | -3.80 |
| Martin ratioReturn relative to average drawdown | -0.04 | 11.93 | -11.97 |
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Drawdowns
PBJ vs. YCS - Drawdown Comparison
The maximum PBJ drawdown since its inception was -39.15%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for PBJ and YCS.
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Drawdown Indicators
| PBJ | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.15% | -49.56% | +10.41% |
Max Drawdown (1Y)Largest decline over 1 year | -12.48% | -8.30% | -4.18% |
Max Drawdown (3Y)Largest decline over 3 years | -12.99% | -23.05% | +10.06% |
Max Drawdown (5Y)Largest decline over 5 years | -15.81% | -27.32% | +11.51% |
Max Drawdown (10Y)Largest decline over 10 years | -28.49% | -27.32% | -1.17% |
Current DrawdownCurrent decline from peak | -7.42% | -0.14% | -7.28% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -19.87% | +14.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.41% | 2.65% | +2.76% |
Volatility
PBJ vs. YCS - Volatility Comparison
Invesco Dynamic Food & Beverage ETF (PBJ) has a higher volatility of 4.33% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that PBJ'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
| PBJ | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.33% | 2.25% | +2.08% |
Volatility (6M)Calculated over the trailing 6-month period | 9.40% | 12.19% | -2.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.74% | 16.93% | -4.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.77% | 21.10% | -7.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.13% | 18.82% | -3.69% |
PBJ vs. YCS - Expense Ratio Comparison
PBJ has a 0.63% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
PBJ vs. YCS - Dividend Comparison
PBJ's dividend yield for the trailing twelve months is around 1.30%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBJ Invesco Dynamic Food & Beverage ETF | 1.30% | 1.83% | 1.11% | 1.81% | 1.82% | 0.90% | 1.12% | 1.21% | 1.41% | 0.70% | 1.56% | 1.24% |
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
PBJ and YCS have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBJ has higher volatility (4.33%) compared to YCS (2.25%). In terms of maximum drawdown, PBJ dropped -39.15% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.62% vs 5.17% for PBJ. On fees, PBJ is cheaper at 0.63% per year. On volatility, YCS has been the lower-risk option at 2.25%. 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 13.62% return vs 5.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PBJ is cheaper with a 0.63% expense ratio, compared with 1.00% for YCS.
PBJ has the higher dividend yield at 1.30%, compared with 0.00% for YCS.
PBJ is categorized as Consumer Staples Equities, while YCS is Leveraged Currency. PBJ tracks Dynamic Food & Beverage Intellidex Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.63% for PBJ and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.86 vs -0.02), 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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