SPUU vs. YCS
SPUU (Direxion Daily S&P 500 Bull 2X ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily), while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, SPUU returned 25.04%/yr vs 12.96%/yr for YCS. At a 0.16 correlation, their price movements are largely independent. SPUU charges 0.60%/yr vs 1.00%/yr for YCS.
Performance
SPUU vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, SPUU achieves a 19.44% return, which is significantly higher than YCS's 7.88% return. Over the past 10 years, SPUU has outperformed YCS with an annualized return of 25.04%, while YCS has yielded a comparatively lower 12.96% annualized return.
SPUU
- 1D
- 3.36%
- 1M
- 3.66%
- YTD
- 19.44%
- 6M
- 19.99%
- 1Y
- 52.90%
- 3Y*
- 35.39%
- 5Y*
- 20.14%
- 10Y*
- 25.04%
YCS
- 1D
- 0.26%
- 1M
- 2.50%
- YTD
- 7.88%
- 6M
- 10.26%
- 1Y
- 33.48%
- 3Y*
- 18.92%
- 5Y*
- 23.21%
- 10Y*
- 12.96%
SPUU vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPUU Direxion Daily S&P 500 Bull 2X ETF | 19.44% | 26.55% | 44.25% | 47.28% | -38.72% | 61.27% | 21.85% | 66.84% | -14.59% | 44.33% |
YCS ProShares UltraShort Yen | 7.88% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between SPUU 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 | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014 | 0.16 |
The correlation between SPUU and YCS shifts across timeframes, from -0.20 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPUU vs. YCS — Risk / Return Rank
SPUU
YCS
SPUU vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 Bull 2X ETF (SPUU) 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.
| SPUU | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.37 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 4.05 | -1.13 |
| Martin ratioReturn relative to average drawdown | 12.56 | 12.65 | -0.10 |
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Drawdowns
SPUU vs. YCS - Drawdown Comparison
The maximum SPUU drawdown since its inception was -59.35%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for SPUU and YCS.
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Drawdown Indicators
| SPUU | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.35% | -49.56% | -9.79% |
Max Drawdown (1Y)Largest decline over 1 year | -18.19% | -8.30% | -9.89% |
Max Drawdown (3Y)Largest decline over 3 years | -35.18% | -23.05% | -12.13% |
Max Drawdown (5Y)Largest decline over 5 years | -46.59% | -27.32% | -19.27% |
Max Drawdown (10Y)Largest decline over 10 years | -59.35% | -27.32% | -32.03% |
Current DrawdownCurrent decline from peak | -1.59% | -0.27% | -1.32% |
Average DrawdownAverage peak-to-trough decline | -9.49% | -19.89% | +10.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.22% | 2.65% | +1.57% |
Volatility
SPUU vs. YCS - Volatility Comparison
Direxion Daily S&P 500 Bull 2X ETF (SPUU) has a higher volatility of 9.23% compared to ProShares UltraShort Yen (YCS) at 2.18%. This indicates that SPUU'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
| SPUU | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.23% | 2.18% | +7.05% |
Volatility (6M)Calculated over the trailing 6-month period | 19.71% | 12.25% | +7.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.95% | 17.05% | +7.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.64% | 21.10% | +12.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.84% | 18.98% | +16.86% |
SPUU vs. YCS - Expense Ratio Comparison
SPUU has a 0.60% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
SPUU vs. YCS - Dividend Comparison
SPUU's dividend yield for the trailing twelve months is around 1.34%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPUU Direxion Daily S&P 500 Bull 2X ETF | 1.34% | 1.63% | 0.55% | 0.83% | 0.88% | 3.04% | 8.03% | 1.80% | 5.50% | 6.96% | 8.08% | 4.42% |
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
SPUU 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.
SPUU has higher volatility (9.23%) compared to YCS (2.18%). In terms of maximum drawdown, SPUU dropped -59.35% vs YCS's -49.56%.
On 10-year performance, SPUU leads with 25.04% vs 12.96% for YCS. On fees, SPUU is cheaper at 0.60% per year. On volatility, YCS has been the lower-risk option at 2.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPUU has performed better with a 25.04% return vs 12.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPUU is cheaper with a 0.60% expense ratio, compared with 1.00% for YCS.
SPUU has the higher dividend yield at 1.34%, compared with 0.00% for YCS.
SPUU is categorized as Leveraged Equities, while YCS is Leveraged Currency. SPUU tracks S&P 500 Index (200% Daily), while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.60% for SPUU and 1.00% for YCS.
SPUU currently has the higher Sharpe Ratio (2.13 vs 1.98), 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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