PGJ vs. YCS
PGJ (Invesco Golden Dragon China ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - PGJ is a China Equities fund tracking the Halter USX China Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, PGJ returned 0.39%/yr vs 12.34%/yr for YCS. At a 0.11 correlation, their price movements are largely independent. PGJ charges 0.70%/yr vs 1.00%/yr for YCS.
Performance
PGJ vs. YCS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PGJ achieves a -10.99% return, which is significantly lower than YCS's 7.17% return. Over the past 10 years, PGJ has underperformed YCS with an annualized return of 0.39%, while YCS has yielded a comparatively higher 12.34% annualized return.
PGJ
- 1D
- -2.45%
- 1M
- -3.45%
- YTD
- -10.99%
- 6M
- -12.93%
- 1Y
- -4.61%
- 3Y*
- 3.00%
- 5Y*
- -13.64%
- 10Y*
- 0.39%
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%
PGJ vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGJ Invesco Golden Dragon China ETF | -10.99% | 13.66% | 5.91% | -2.38% | -24.50% | -42.87% | 54.24% | 32.18% | -29.51% | 60.27% |
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 PGJ 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 | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Nov 26, 2008 | 0.11 |
The correlation between PGJ and YCS shifts across timeframes, from -0.16 (1 year) to 0.11 (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.
Return for Risk
PGJ vs. YCS — Risk / Return Rank
PGJ
YCS
PGJ vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Golden Dragon China ETF (PGJ) 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.
| PGJ | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.11 | ||
| Sortino ratioReturn per unit of downside risk | -2.55 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.35 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 3.97 | -4.15 |
| Martin ratioReturn relative to average drawdown | -0.34 | 12.40 | -12.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| PGJ | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.19 | 1.92 | -2.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.31 | 1.12 | -1.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.01 | 0.65 | -0.64 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.33 | -0.21 |
Drawdowns
PGJ vs. YCS - Drawdown Comparison
The maximum PGJ drawdown since its inception was -78.37%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for PGJ and YCS.
Loading charts...
Drawdown Indicators
| PGJ | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.37% | -49.56% | -28.81% |
Max Drawdown (1Y)Largest decline over 1 year | -25.69% | -8.30% | -17.39% |
Max Drawdown (3Y)Largest decline over 3 years | -30.82% | -23.05% | -7.77% |
Max Drawdown (5Y)Largest decline over 5 years | -70.00% | -27.32% | -42.68% |
Max Drawdown (10Y)Largest decline over 10 years | -78.37% | -27.32% | -51.05% |
Current DrawdownCurrent decline from peak | -66.07% | 0.00% | -66.07% |
Average DrawdownAverage peak-to-trough decline | -31.74% | -19.93% | -11.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.40% | 2.66% | +10.74% |
Volatility
PGJ vs. YCS - Volatility Comparison
Invesco Golden Dragon China ETF (PGJ) has a higher volatility of 8.55% compared to ProShares UltraShort Yen (YCS) at 2.75%. This indicates that PGJ'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
| PGJ | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.55% | 2.75% | +5.80% |
Volatility (6M)Calculated over the trailing 6-month period | 17.28% | 12.32% | +4.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.46% | 17.27% | +7.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.73% | 21.10% | +22.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.70% | 19.01% | +17.69% |
PGJ vs. YCS - Expense Ratio Comparison
PGJ has a 0.70% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
PGJ vs. YCS - Dividend Comparison
PGJ's dividend yield for the trailing twelve months is around 3.56%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGJ Invesco Golden Dragon China ETF | 3.56% | 3.38% | 4.70% | 2.50% | 0.84% | 0.00% | 0.30% | 0.17% | 0.31% | 2.05% | 1.94% | 0.37% |
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
PGJ 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.
PGJ has higher volatility (8.55%) compared to YCS (2.75%). In terms of maximum drawdown, PGJ dropped -78.37% vs YCS's -49.56%.
On 10-year performance, YCS leads with 12.34% vs 0.39% for PGJ. On fees, PGJ is cheaper at 0.70% 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 12.34% return vs 0.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PGJ is cheaper with a 0.70% expense ratio, compared with 1.00% for YCS.
PGJ has the higher dividend yield at 3.56%, compared with 0.00% for YCS.
PGJ is categorized as China Equities, while YCS is Leveraged Currency. PGJ tracks Halter USX China Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.70% for PGJ and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.92 vs -0.19), 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.
Find the right allocation for PGJ 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