RWL vs. YCS
RWL (Invesco S&P 500 Revenue ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - RWL is a S&P 500 fund tracking the S&P 500 Revenue-Weighted Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, RWL returned 14.32%/yr vs 13.62%/yr for YCS. At a 0.20 correlation, their price movements are largely independent. RWL charges 0.39%/yr vs 1.00%/yr for YCS.
Performance
RWL vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, RWL achieves a 11.76% return, which is significantly higher than YCS's 9.63% return. Both investments have delivered pretty close results over the past 10 years, with RWL having a 14.32% annualized return and YCS not far behind at 13.62%.
RWL
- 1D
- 0.13%
- 1M
- 0.91%
- YTD
- 11.76%
- 6M
- 11.32%
- 1Y
- 26.17%
- 3Y*
- 19.58%
- 5Y*
- 13.37%
- 10Y*
- 14.32%
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%
RWL vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RWL Invesco S&P 500 Revenue ETF | 11.76% | 18.65% | 16.45% | 17.43% | -6.00% | 30.29% | 9.14% | 27.83% | -7.74% | 20.34% |
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 RWL and YCS is -0.20, 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 | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | 0.20 |
The correlation between RWL and YCS shifts across timeframes, from -0.20 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RWL vs. YCS — Risk / Return Rank
RWL
YCS
RWL vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Revenue ETF (RWL) 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.
| RWL | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.34 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.96 | 3.78 | +0.18 |
| Martin ratioReturn relative to average drawdown | 16.57 | 11.93 | +4.65 |
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Drawdowns
RWL vs. YCS - Drawdown Comparison
The maximum RWL drawdown since its inception was -54.83%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for RWL and YCS.
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Drawdown Indicators
| RWL | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.83% | -49.56% | -5.27% |
Max Drawdown (1Y)Largest decline over 1 year | -6.64% | -8.30% | +1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -14.39% | -23.05% | +8.66% |
Max Drawdown (5Y)Largest decline over 5 years | -17.49% | -27.32% | +9.83% |
Max Drawdown (10Y)Largest decline over 10 years | -36.04% | -27.32% | -8.72% |
Current DrawdownCurrent decline from peak | -1.53% | -0.14% | -1.39% |
Average DrawdownAverage peak-to-trough decline | -6.43% | -19.87% | +13.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.58% | 2.65% | -1.07% |
Volatility
RWL vs. YCS - Volatility Comparison
Invesco S&P 500 Revenue ETF (RWL) has a higher volatility of 3.16% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that RWL'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
| RWL | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.16% | 2.25% | +0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 7.43% | 12.19% | -4.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.20% | 16.93% | -6.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.51% | 21.10% | -6.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.84% | 18.82% | -1.98% |
RWL vs. YCS - Expense Ratio Comparison
RWL has a 0.39% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
RWL vs. YCS - Dividend Comparison
RWL's dividend yield for the trailing twelve months is around 1.27%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RWL Invesco S&P 500 Revenue ETF | 1.27% | 1.35% | 1.43% | 1.60% | 1.62% | 1.35% | 1.75% | 1.87% | 1.99% | 1.60% | 1.71% | 1.97% |
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
RWL and YCS have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RWL has higher volatility (3.16%) compared to YCS (2.25%). In terms of maximum drawdown, RWL dropped -54.83% vs YCS's -49.56%.
On 10-year performance, RWL leads with 14.32% vs 13.62% for YCS. On fees, RWL is cheaper at 0.39% 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, RWL has performed better with a 14.32% return vs 13.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RWL is cheaper with a 0.39% expense ratio, compared with 1.00% for YCS.
RWL has the higher dividend yield at 1.27%, compared with 0.00% for YCS.
RWL is categorized as S&P 500, while YCS is Leveraged Currency. RWL tracks S&P 500 Revenue-Weighted Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.39% for RWL and 1.00% for YCS.
RWL currently has the higher Sharpe Ratio (2.58 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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