SPPP vs. YCS
SPPP (Sprott Physical Platinum and Palladium Trust) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - SPPP is a Precious Metals fund actively managed by Sprott, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). SPPP is actively managed, while YCS is passively managed. Over the past 10 years, SPPP returned 8.53%/yr vs 12.34%/yr for YCS. At a correlation of -0.11, they often move in opposite directions. SPPP charges 1.02%/yr vs 1.00%/yr for YCS.
Performance
SPPP vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, SPPP achieves a -14.37% return, which is significantly lower than YCS's 7.17% return. Over the past 10 years, SPPP has underperformed YCS with an annualized return of 8.53%, while YCS has yielded a comparatively higher 12.34% annualized return.
SPPP
- 1D
- -4.12%
- 1M
- -6.42%
- YTD
- -14.37%
- 6M
- -2.30%
- 1Y
- 39.19%
- 3Y*
- 5.59%
- 5Y*
- -6.33%
- 10Y*
- 8.53%
YCS
- 1D
- 0.17%
- 1M
- 4.42%
- YTD
- 7.17%
- 6M
- 10.05%
- 1Y
- 32.82%
- 3Y*
- 19.84%
- 5Y*
- 23.54%
- 10Y*
- 12.34%
SPPP vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPPP Sprott Physical Platinum and Palladium Trust | -14.37% | 89.43% | -11.89% | -25.86% | -2.37% | -21.77% | 23.84% | 46.00% | 5.53% | 35.36% |
YCS ProShares UltraShort Yen | 7.17% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between SPPP and YCS is -0.12, 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 | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2012 | -0.11 |
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Return for Risk
SPPP vs. YCS — Risk / Return Rank
SPPP
YCS
SPPP vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Platinum and Palladium Trust (SPPP) 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.
| SPPP | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.15 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.35 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 3.97 | -2.92 |
| Martin ratioReturn relative to average drawdown | 2.23 | 12.40 | -10.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPPP | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.77 | 1.92 | -1.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.18 | 1.12 | -1.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | 0.65 | -0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.33 | -0.24 |
Drawdowns
SPPP vs. YCS - Drawdown Comparison
The maximum SPPP drawdown since its inception was -59.09%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for SPPP and YCS.
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Drawdown Indicators
| SPPP | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.09% | -49.56% | -9.53% |
Max Drawdown (1Y)Largest decline over 1 year | -37.42% | -8.30% | -29.12% |
Max Drawdown (3Y)Largest decline over 3 years | -37.42% | -23.05% | -14.37% |
Max Drawdown (5Y)Largest decline over 5 years | -58.50% | -27.32% | -31.18% |
Max Drawdown (10Y)Largest decline over 10 years | -59.09% | -27.32% | -31.77% |
Current DrawdownCurrent decline from peak | -36.14% | 0.00% | -36.14% |
Average DrawdownAverage peak-to-trough decline | -26.48% | -19.93% | -6.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.60% | 2.66% | +14.94% |
Volatility
SPPP vs. YCS - Volatility Comparison
Sprott Physical Platinum and Palladium Trust (SPPP) has a higher volatility of 10.71% compared to ProShares UltraShort Yen (YCS) at 2.75%. This indicates that SPPP'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
| SPPP | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.71% | 2.75% | +7.96% |
Volatility (6M)Calculated over the trailing 6-month period | 45.53% | 12.32% | +33.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.97% | 17.27% | +33.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.89% | 21.10% | +13.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.10% | 19.01% | +14.09% |
SPPP vs. YCS - Expense Ratio Comparison
SPPP has a 1.02% expense ratio, which is higher than YCS's 1.00% expense ratio.
Dividends
SPPP vs. YCS - Dividend Comparison
Neither SPPP nor YCS has paid dividends to shareholders.
Frequently Asked Questions
SPPP and YCS have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPPP has higher volatility (10.71%) compared to YCS (2.75%). In terms of maximum drawdown, SPPP dropped -59.09% vs YCS's -49.56%.
On 10-year performance, YCS leads with 12.34% vs 8.53% for SPPP. On fees, YCS is cheaper at 1.00% per year. On volatility, YCS has been the lower-risk option at 2.75%. 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 12.34% return vs 8.53%. 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 1.02% for SPPP.
SPPP and YCS have nearly identical dividend yields, around 0.00%.
SPPP is categorized as Precious Metals, while YCS is Leveraged Currency. They also come from different issuers: Sprott and ProShares. Their fees differ too: 1.02% for SPPP and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.92 vs 0.77), 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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