PLTM vs. YCS

Last updated Aug 6, 2026

PLTM (GraniteShares Platinum Trust) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - PLTM is a Precious Metals fund tracking the Platinum London PM Fix ($/ozt), while YCS is a Leveraged Currency fund tracking the JPY/USD 4:00 p.m. ET Cross Rate. Both are passively managed. Over the past 5 years, PLTM returned 11.46%/yr vs 22.89%/yr for YCS. Their -0.17 correlation means they have often moved in opposite directions in the past. PLTM charges 0.50%/yr vs 0.95%/yr for YCS.

Performance

PLTM vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Platinum Trust (PLTM) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLTM achieves a -15.61% return, which is significantly lower than YCS's 5.40% return.

PLTM

• 1D: -0.12%
• 1M: 5.92%
• 6M: -21.76%
• YTD: -15.61%
• 1Y: 31.10%
• 3Y*: 22.78%
• 5Y*: 11.46%
• 10Y*: —
• ALL TIME*: 6.18%

YCS

• 1D: -0.02%
• 1M: -4.94%
• 6M: 4.42%
• YTD: 5.40%
• 1Y: 22.68%
• 3Y*: 17.44%
• 5Y*: 22.89%
• 10Y*: 13.35%
• ALL TIME*: 6.33%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PLTM GraniteShares Platinum Trust	$2.04M	$1.68M	$2.91M
YCS ProShares UltraShort Yen	$2.59M	$2.15M	$1.60M

PLTM vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PLTM GraniteShares Platinum Trust	-15.61%	124.46%	-8.91%	-8.10%	10.83%	-10.52%	10.87%	20.76%	-20.92%
YCS ProShares UltraShort Yen	5.40%	9.04%	35.41%	28.70%	29.09%	22.38%	-11.18%	3.37%	3.01%

Correlation

The correlation between PLTM and YCS is -0.10, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.10
Correlation (3Y) Balances recent behavior with more history.	-0.15
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.20
Correlation (All Time) Calculated using the full available price history since Feb 5, 2018	-0.17

Return for Risk

PLTM vs. YCS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PLTM

PLTM Risk / Return Rank: 23
PLTM Sharpe Ratio Rank: 24
PLTM Sortino Ratio Rank: 25
PLTM Omega Ratio Rank: 28
PLTM Calmar Ratio Rank: 21
PLTM Martin Ratio Rank: 19

YCS

YCS Risk / Return Rank: 56
YCS Sharpe Ratio Rank: 49
YCS Sortino Ratio Rank: 43
YCS Omega Ratio Rank: 52
YCS Calmar Ratio Rank: 68
YCS Martin Ratio Rank: 70

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PLTM vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Platinum Trust (PLTM) 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.

	PLTM	YCS	Difference
Sharpe ratio: Return per unit of total volatility	0.61	1.39	-0.77
Sortino ratio: Return per unit of downside risk	1.07	1.80	-0.73
Omega ratio: Gain probability vs. loss probability	1.15	1.27	-0.12
Calmar ratio: Return relative to maximum drawdown	0.71	2.69	-1.98
Martin ratio: Return relative to average drawdown	1.35	9.73	-8.38

PLTM vs. YCS - Sharpe Ratio Comparison

The current PLTM Sharpe Ratio is 0.61, which is lower than the YCS Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of PLTM 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.

Drawdowns

PLTM vs. YCS - Drawdown Comparison

The maximum PLTM drawdown since its inception was -44.07%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for PLTM and YCS.

Drawdown Indicators

	PLTM	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-44.07%	-49.56%	+5.49%
Max Drawdown (1Y) Largest decline over 1 year	-44.07%	-8.48%	-35.59%
Max Drawdown (3Y) Largest decline over 3 years	-44.07%	-23.05%	-21.02%
Max Drawdown (5Y) Largest decline over 5 years	-44.07%	-27.32%	-16.75%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.32%	—
Current Drawdown Current decline from peak	-37.66%	-7.34%	-30.32%
Average Drawdown Average peak-to-trough decline	-18.98%	-19.75%	+0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.14%	2.34%	+20.80%

Volatility

PLTM vs. YCS - Volatility Comparison

GraniteShares Platinum Trust (PLTM) has a higher volatility of 11.14% compared to ProShares UltraShort Yen (YCS) at 5.95%. This indicates that PLTM'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.

Volatility by Period

	PLTM	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.14%	5.95%	+5.19%
Volatility (6M) Calculated over the trailing 6-month period	33.11%	11.87%	+21.24%
Volatility (1Y) Calculated over the trailing 1-year period	50.97%	16.43%	+34.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.27%	21.21%	+12.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.22%	18.61%	+12.61%

PLTM vs. YCS - Expense Ratio Comparison

PLTM has a 0.50% expense ratio, which is lower than YCS's 0.95% expense ratio.

Dividends

PLTM vs. YCS - Dividend Comparison

Neither PLTM nor YCS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PLTM and YCS in my portfolio?

PLTM and YCS have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLTM or YCS?

PLTM has higher volatility (11.14%) compared to YCS (5.95%). In terms of maximum drawdown, PLTM dropped -44.07% vs YCS's -49.56%.

Which ETF is better, PLTM or YCS?

On 5-year performance, YCS leads with 22.89% vs 11.46% for PLTM. On fees, PLTM is cheaper at 0.50% per year. On volatility, YCS has been the lower-risk option at 5.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PLTM or YCS?

Over the 5-year period, YCS has performed better with a 22.89% return vs 11.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PLTM or YCS?

PLTM is cheaper with a 0.50% expense ratio, compared with 0.95% for YCS.

Which ETF pays a higher dividend yield, PLTM or YCS?

PLTM and YCS have nearly identical dividend yields, around 0.00%.

What is the main difference between PLTM and YCS?

PLTM is categorized as Precious Metals, while YCS is Leveraged Currency. PLTM tracks Platinum London PM Fix ($/ozt), while YCS tracks JPY/USD 4:00 p.m. ET Cross Rate. They also come from different issuers: GraniteShares and ProShares. Their fees differ too: 0.50% for PLTM and 0.95% for YCS.

Which has better risk-adjusted returns?

YCS currently has the higher Sharpe Ratio (1.39 vs 0.61), 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.