SETM vs. YCS

Last updated Jun 24, 2026

SETM (Sprott Critical Materials ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - SETM is a Materials fund tracking the Nasdaq Sprott Critical Materials Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 3 years, SETM returned 25.14%/yr vs 18.37%/yr for YCS. At a correlation of -0.08, they often move in opposite directions. SETM charges 0.65%/yr vs 1.00%/yr for YCS.

Performance

SETM vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Critical Materials ETF (SETM) 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, SETM achieves a 11.16% return, which is significantly higher than YCS's 9.63% return.

SETM

• 1D: -4.08%
• 1M: -8.14%
• YTD: 11.16%
• 6M: 8.97%
• 1Y: 95.17%
• 3Y*: 25.14%
• 5Y*: —
• 10Y*: —

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%

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

SETM vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SETM Sprott Critical Materials ETF	11.16%	95.27%	-13.24%	-13.11%
YCS ProShares UltraShort Yen	9.63%	9.04%	35.41%	32.33%

Correlation

The correlation between SETM and YCS is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (3Y) Calculated over the trailing 3-year period	-0.10
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023	-0.08

Return for Risk

SETM vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SETM

SETM Risk / Return Rank: 61
SETM Sharpe Ratio Rank: 66
SETM Sortino Ratio Rank: 51
SETM Omega Ratio Rank: 53
SETM Calmar Ratio Rank: 75
SETM Martin Ratio Rank: 62

YCS

YCS Risk / Return Rank: 63
YCS Sharpe Ratio Rank: 58
YCS Sortino Ratio Rank: 51
YCS Omega Ratio Rank: 59
YCS Calmar Ratio Rank: 77
YCS Martin Ratio Rank: 69

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SETM vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Critical Materials ETF (SETM) 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.

	SETM	YCS	Difference
Sharpe ratio: Return per unit of total volatility	2.05	1.86	+0.19
Sortino ratio: Return per unit of downside risk	2.41	2.36	+0.05
Omega ratio: Gain probability vs. loss probability	1.32	1.34	-0.03
Calmar ratio: Return relative to maximum drawdown	3.70	3.78	-0.08
Martin ratio: Return relative to average drawdown	10.56	11.93	-1.37

SETM vs. YCS - Sharpe Ratio Comparison

The current SETM Sharpe Ratio is 2.05, which is comparable to the YCS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of SETM 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

SETM vs. YCS - Drawdown Comparison

The maximum SETM drawdown since its inception was -42.81%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for SETM and YCS.

Drawdown Indicators

	SETM	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-42.81%	-49.56%	+6.75%
Max Drawdown (1Y) Largest decline over 1 year	-25.85%	-8.30%	-17.55%
Max Drawdown (3Y) Largest decline over 3 years	-42.81%	-23.05%	-19.76%
Max Drawdown (5Y) Largest decline over 5 years	—	-27.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.32%	—
Current Drawdown Current decline from peak	-19.00%	-0.14%	-18.86%
Average Drawdown Average peak-to-trough decline	-15.03%	-19.87%	+4.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.04%	2.65%	+6.39%

Volatility

SETM vs. YCS - Volatility Comparison

Sprott Critical Materials ETF (SETM) has a higher volatility of 17.16% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that SETM'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

	SETM	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.16%	2.25%	+14.91%
Volatility (6M) Calculated over the trailing 6-month period	37.55%	12.19%	+25.36%
Volatility (1Y) Calculated over the trailing 1-year period	46.69%	16.93%	+29.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.23%	21.10%	+16.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.23%	18.82%	+18.41%

SETM vs. YCS - Expense Ratio Comparison

SETM has a 0.65% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

SETM vs. YCS - Dividend Comparison

SETM's dividend yield for the trailing twelve months is around 1.41%, while YCS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
SETM Sprott Critical Materials ETF	1.41%	1.56%	2.07%	2.47%
YCS ProShares UltraShort Yen	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SETM and YCS in my portfolio?

SETM and YCS have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SETM or YCS?

SETM has higher volatility (17.16%) compared to YCS (2.25%). In terms of maximum drawdown, SETM dropped -42.81% vs YCS's -49.56%.

Which ETF is better, SETM or YCS?

On 3-year performance, SETM leads with 25.14% vs 18.37% for YCS. On fees, SETM is cheaper at 0.65% 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.

Which ETF has performed better, SETM or YCS?

Over the 3-year period, SETM has performed better with a 25.14% return vs 18.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SETM or YCS?

SETM is cheaper with a 0.65% expense ratio, compared with 1.00% for YCS.

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

SETM has the higher dividend yield at 1.41%, compared with 0.00% for YCS.

What is the main difference between SETM and YCS?

SETM is categorized as Materials, while YCS is Leveraged Currency. SETM tracks Nasdaq Sprott Critical Materials Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Sprott and ProShares. Their fees differ too: 0.65% for SETM and 1.00% for YCS.

Which has better risk-adjusted returns?

SETM currently has the higher Sharpe Ratio (2.05 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.