PSP vs. YCS
PSP (Invesco Global Listed Private Equity ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - PSP is a Global Equities fund tracking the Red Rocks Global Listed Private Equity Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, PSP returned 8.08%/yr vs 12.99%/yr for YCS. At a 0.10 correlation, their price movements are largely independent. PSP charges 1.44%/yr vs 1.00%/yr for YCS.
Performance
PSP vs. YCS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PSP achieves a -10.49% return, which is significantly lower than YCS's 11.45% return. Over the past 10 years, PSP has underperformed YCS with an annualized return of 8.08%, while YCS has yielded a comparatively higher 12.99% annualized return.
PSP
- 1D
- -0.38%
- 1M
- 0.45%
- 6M
- -14.19%
- YTD
- -10.49%
- 1Y
- -12.84%
- 3Y*
- 8.93%
- 5Y*
- 0.68%
- 10Y*
- 8.08%
YCS
- 1D
- 0.42%
- 1M
- 3.09%
- 6M
- 8.08%
- YTD
- 11.45%
- 1Y
- 29.82%
- 3Y*
- 21.64%
- 5Y*
- 24.30%
- 10Y*
- 12.99%
PSP vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSP Invesco Global Listed Private Equity ETF | -10.49% | 6.49% | 17.42% | 37.72% | -37.37% | 27.30% | 12.47% | 35.73% | -15.12% | 24.13% |
YCS ProShares UltraShort Yen | 11.45% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between PSP and YCS is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | 0.10 |
The correlation between PSP and YCS shifts across timeframes, from -0.22 (1 year) to 0.10 (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
PSP vs. YCS — Risk / Return Rank
PSP
YCS
PSP vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) 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.
| PSP | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.46 | ||
| Sortino ratioReturn per unit of downside risk | -3.07 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.35 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 3.61 | -4.18 |
| Martin ratioReturn relative to average drawdown | -1.13 | 11.41 | -12.54 |
Loading charts...
Drawdowns
PSP vs. YCS - Drawdown Comparison
The maximum PSP drawdown since its inception was -85.40%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for PSP and YCS.
Loading charts...
Drawdown Indicators
| PSP | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.40% | -49.56% | -35.84% |
Max Drawdown (1Y)Largest decline over 1 year | -22.37% | -8.30% | -14.07% |
Max Drawdown (3Y)Largest decline over 3 years | -22.94% | -23.05% | +0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -47.16% | -27.32% | -19.84% |
Max Drawdown (10Y)Largest decline over 10 years | -47.16% | -27.32% | -19.84% |
Current DrawdownCurrent decline from peak | -14.86% | 0.00% | -14.86% |
Average DrawdownAverage peak-to-trough decline | -30.61% | -19.80% | -10.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.35% | 2.62% | +8.73% |
Volatility
PSP vs. YCS - Volatility Comparison
Invesco Global Listed Private Equity ETF (PSP) has a higher volatility of 5.69% compared to ProShares UltraShort Yen (YCS) at 2.47%. This indicates that PSP'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
| PSP | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 2.47% | +3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 17.06% | 11.85% | +5.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.26% | 16.54% | +3.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.92% | 21.09% | +2.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.28% | 18.70% | +3.58% |
PSP vs. YCS - Expense Ratio Comparison
PSP has a 1.44% expense ratio, which is higher than YCS's 1.00% expense ratio.
Dividends
PSP vs. YCS - Dividend Comparison
PSP's dividend yield for the trailing twelve months is around 6.08%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSP Invesco Global Listed Private Equity ETF | 6.08% | 5.87% | 8.62% | 3.96% | 2.88% | 10.34% | 4.66% | 5.87% | 6.81% | 10.18% | 4.12% | 6.23% |
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
PSP and YCS have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSP has higher volatility (5.69%) compared to YCS (2.47%). In terms of maximum drawdown, PSP dropped -85.40% vs YCS's -49.56%.
On 10-year performance, YCS leads with 12.99% vs 8.08% for PSP. On fees, YCS is cheaper at 1.00% per year. On volatility, YCS has been the lower-risk option at 2.47%. 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 12.99% return vs 8.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YCS is cheaper with a 1.00% expense ratio, compared with 1.44% for PSP.
PSP has the higher dividend yield at 6.08%, compared with 0.00% for YCS.
PSP is categorized as Global Equities, while YCS is Leveraged Currency. PSP tracks Red Rocks Global Listed Private Equity Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 1.44% for PSP and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.82 vs -0.64), 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 PSP 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