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SPTI vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPTI vs. YCS

Last updated Jun 3, 2026

SPTI (SPDR Portfolio Intermediate Term Treasury ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - SPTI is a Government Bonds fund tracking the Bloomberg 3-10 Year U.S. Treasury Bond Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, SPTI returned 1.35%/yr vs 12.32%/yr for YCS. At a correlation of -0.50, they often move in opposite directions. SPTI charges 0.06%/yr vs 1.00%/yr for YCS.

Performance

SPTI vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Intermediate Term Treasury ETF (SPTI) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPTI achieves a -0.24% return, which is significantly lower than YCS's 6.99% return. Over the past 10 years, SPTI has underperformed YCS with an annualized return of 1.35%, while YCS has yielded a comparatively higher 12.32% annualized return.

SPTI

1D
0.04%
1M
-0.23%
YTD
-0.24%
6M
-0.24%
1Y
3.68%
3Y*
3.50%
5Y*
0.14%
10Y*
1.35%

YCS

1D
0.03%
1M
4.27%
YTD
6.99%
6M
8.81%
1Y
35.19%
3Y*
19.77%
5Y*
23.16%
10Y*
12.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPTI vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPTI
SPDR Portfolio Intermediate Term Treasury ETF		-0.24%7.46%1.32%4.24%-10.65%-2.55%7.70%6.01%2.27%1.04%
YCS
ProShares UltraShort Yen		6.99%9.04%35.41%28.70%29.09%22.38%-11.18%3.37%-1.49%-6.57%

Correlation

The correlation between SPTI and YCS is -0.51, 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

-0.51

Correlation (3Y)
Calculated over the trailing 3-year period

-0.50

Correlation (5Y)
Calculated over the trailing 5-year period

-0.54

Correlation (10Y)
Calculated over the trailing 10-year period

-0.54

Correlation (All Time)
Calculated using the full available price history since Nov 26, 2008

-0.50

The correlation between SPTI and YCS has been stable across timeframes, ranging from -0.54 to -0.50 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Portfolio Intermediate Term Treasury ETF

ProShares UltraShort Yen

Often compared with SPTI:
SPTI vs. SPTSSPTI vs. SCHRSPTI vs. VGITSPTI vs. SPYSPTI vs. IEFSPTI vs. SPMBSPTI vs. HYG
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

SPTI vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPTI
SPTI Risk / Return Rank: 2828
Overall Rank
SPTI Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
SPTI Sortino Ratio Rank: 3131
Sortino Ratio Rank
SPTI Omega Ratio Rank: 2828
Omega Ratio Rank
SPTI Calmar Ratio Rank: 2525
Calmar Ratio Rank
SPTI Martin Ratio Rank: 2727
Martin Ratio Rank
YCS
YCS Risk / Return Rank: 6363
Overall Rank
YCS Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
YCS Sortino Ratio Rank: 5353
Sortino Ratio Rank
YCS Omega Ratio Rank: 6060
Omega Ratio Rank
YCS Calmar Ratio Rank: 7777
Calmar Ratio Rank
YCS Martin Ratio Rank: 6666
Martin Ratio Rank
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.

SPTI vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Intermediate Term Treasury ETF (SPTI) 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.

SPTIYCSDifference

Sharpe ratio

Return per unit of total volatility

1.09

2.05

-0.96

Sortino ratio

Return per unit of downside risk

1.65

2.59

-0.94

Omega ratio

Gain probability vs. loss probability

1.19

1.37

-0.18

Calmar ratio

Return relative to maximum drawdown

1.24

3.95

-2.71

Martin ratio

Return relative to average drawdown

3.78

12.35

-8.56

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPTI vs. YCS - Sharpe Ratio Comparison

The current SPTI Sharpe Ratio is 1.09, which is lower than the YCS Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of SPTI 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.

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Sharpe Ratios by Period

SPTIYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.09

2.05

-0.96

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.03

1.10

-1.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.31

0.65

-0.34

Sharpe Ratio (All Time)

Calculated using the full available price history

0.55

0.33

+0.22

Drawdowns

SPTI vs. YCS - Drawdown Comparison

The maximum SPTI drawdown since its inception was -16.12%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for SPTI and YCS.

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Drawdown Indicators

SPTIYCSDifference

Max Drawdown

Largest peak-to-trough decline

-16.12%

-49.56%

+33.44%

Max Drawdown (1Y)

Largest decline over 1 year

-2.80%

-8.30%

+5.50%

Max Drawdown (3Y)

Largest decline over 3 years

-4.35%

-23.05%

+18.70%

Max Drawdown (5Y)

Largest decline over 5 years

-15.06%

-27.32%

+12.26%

Max Drawdown (10Y)

Largest decline over 10 years

-16.12%

-27.32%

+11.20%

Current Drawdown

Current decline from peak

-2.21%

-0.04%

-2.17%

Average Drawdown

Average peak-to-trough decline

-2.92%

-19.94%

+17.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.92%

2.66%

-1.74%

Volatility

SPTI vs. YCS - Volatility Comparison

The current volatility for SPDR Portfolio Intermediate Term Treasury ETF (SPTI) is 1.08%, while ProShares UltraShort Yen (YCS) has a volatility of 2.75%. This indicates that SPTI experiences smaller price fluctuations and is considered to be less risky 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

SPTIYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.08%

2.75%

-1.67%

Volatility (6M)

Calculated over the trailing 6-month period

2.35%

12.36%

-10.01%

Volatility (1Y)

Calculated over the trailing 1-year period

3.42%

17.38%

-13.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.35%

21.11%

-15.76%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.37%

19.02%

-14.65%

SPTI vs. YCS - Expense Ratio Comparison

SPTI has a 0.06% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

SPTI vs. YCS - Dividend Comparison

SPTI's dividend yield for the trailing twelve months is around 3.85%, while YCS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
SPTI
SPDR Portfolio Intermediate Term Treasury ETF		3.85%3.79%3.77%2.99%1.45%0.53%0.75%2.02%1.97%1.46%1.23%1.18%
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

SPTI and YCS have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

YCS has higher volatility (2.75%) compared to SPTI (1.08%). In terms of maximum drawdown, SPTI dropped -16.12% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.32% vs 1.35% for SPTI. On fees, SPTI is cheaper at 0.06% per year. On volatility, SPTI has been the lower-risk option at 1.08%. 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 12.32% return vs 1.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPTI is cheaper with a 0.06% expense ratio, compared with 1.00% for YCS.

SPTI has the higher dividend yield at 3.85%, compared with 0.00% for YCS.

SPTI is categorized as Government Bonds, while YCS is Leveraged Currency. SPTI tracks Bloomberg 3-10 Year U.S. Treasury Bond Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.06% for SPTI and 1.00% for YCS.

YCS currently has the higher Sharpe Ratio (2.05 vs 1.09), 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.

Portfolio Optimizer

Find the right allocation for SPTI and YCS

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