QLC vs. YCS
QLC (FlexShares US Quality Large Cap Index Fund) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - QLC is a Large Cap Blend Equities fund tracking the Northern Trust Quality Large Cap Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, QLC returned 14.85%/yr vs 13.62%/yr for YCS. At a 0.11 correlation, their price movements are largely independent. QLC charges 0.25%/yr vs 1.00%/yr for YCS.
Performance
QLC vs. YCS - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with QLC having a 9.59% return and YCS slightly higher at 9.63%. Over the past 10 years, QLC has outperformed YCS with an annualized return of 14.85%, while YCS has yielded a comparatively lower 13.62% annualized return.
QLC
- 1D
- -1.12%
- 1M
- -0.37%
- YTD
- 9.59%
- 6M
- 8.51%
- 1Y
- 29.38%
- 3Y*
- 23.96%
- 5Y*
- 14.86%
- 10Y*
- 14.85%
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%
QLC vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QLC FlexShares US Quality Large Cap Index Fund | 9.59% | 23.26% | 26.71% | 26.02% | -17.21% | 28.46% | 13.64% | 24.51% | -8.12% | 21.73% |
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 QLC and YCS is -0.18, 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 | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2015 | 0.11 |
The correlation between QLC and YCS shifts across timeframes, from -0.18 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QLC vs. YCS — Risk / Return Rank
QLC
YCS
QLC vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares US Quality Large Cap Index Fund (QLC) 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.
| QLC | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.34 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.34 | 3.78 | -0.45 |
| Martin ratioReturn relative to average drawdown | 15.18 | 11.93 | +3.25 |
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Drawdowns
QLC vs. YCS - Drawdown Comparison
The maximum QLC drawdown since its inception was -35.86%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for QLC and YCS.
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Drawdown Indicators
| QLC | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.86% | -49.56% | +13.70% |
Max Drawdown (1Y)Largest decline over 1 year | -8.84% | -8.30% | -0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -18.49% | -23.05% | +4.56% |
Max Drawdown (5Y)Largest decline over 5 years | -23.81% | -27.32% | +3.51% |
Max Drawdown (10Y)Largest decline over 10 years | -35.86% | -27.32% | -8.54% |
Current DrawdownCurrent decline from peak | -2.34% | -0.14% | -2.20% |
Average DrawdownAverage peak-to-trough decline | -4.52% | -19.87% | +15.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.94% | 2.65% | -0.71% |
Volatility
QLC vs. YCS - Volatility Comparison
FlexShares US Quality Large Cap Index Fund (QLC) has a higher volatility of 4.81% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that QLC'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
| QLC | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.81% | 2.25% | +2.56% |
Volatility (6M)Calculated over the trailing 6-month period | 10.33% | 12.19% | -1.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.98% | 16.93% | -3.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.92% | 21.10% | -4.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.46% | 18.82% | -0.36% |
QLC vs. YCS - Expense Ratio Comparison
QLC has a 0.25% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
QLC vs. YCS - Dividend Comparison
QLC's dividend yield for the trailing twelve months is around 0.95%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLC FlexShares US Quality Large Cap Index Fund | 0.95% | 0.94% | 1.03% | 1.26% | 1.46% | 0.96% | 1.40% | 1.91% | 1.82% | 1.29% | 1.80% | 0.64% |
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
QLC and YCS have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLC has higher volatility (4.81%) compared to YCS (2.25%). In terms of maximum drawdown, QLC dropped -35.86% vs YCS's -49.56%.
On 10-year performance, QLC leads with 14.85% vs 13.62% for YCS. On fees, QLC is cheaper at 0.25% 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, QLC has performed better with a 14.85% return vs 13.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QLC is cheaper with a 0.25% expense ratio, compared with 1.00% for YCS.
QLC has the higher dividend yield at 0.95%, compared with 0.00% for YCS.
QLC is categorized as Large Cap Blend Equities, while YCS is Leveraged Currency. QLC tracks Northern Trust Quality Large Cap Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Northern Trust and ProShares. Their fees differ too: 0.25% for QLC and 1.00% for YCS.
QLC currently has the higher Sharpe Ratio (2.28 vs 1.86), 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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