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STIP vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

STIP vs. YCS

Last updated Jun 4, 2026

STIP (iShares 0-5 Year TIPS Bond ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - STIP is a Inflation-Protected Bonds fund tracking the Barclays Capital U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L), while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, STIP returned 3.18%/yr vs 12.34%/yr for YCS. At a correlation of -0.34, they often move in opposite directions. STIP charges 0.06%/yr vs 1.00%/yr for YCS.

Performance

STIP vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 0-5 Year TIPS Bond ETF (STIP) 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, STIP achieves a 2.04% return, which is significantly lower than YCS's 7.17% return. Over the past 10 years, STIP has underperformed YCS with an annualized return of 3.18%, while YCS has yielded a comparatively higher 12.34% annualized return.

STIP

1D
0.00%
1M
0.03%
YTD
2.04%
6M
2.03%
1Y
4.68%
3Y*
5.23%
5Y*
3.37%
10Y*
3.18%

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

STIP vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
STIP
iShares 0-5 Year TIPS Bond ETF		2.04%6.03%4.77%4.63%-3.02%5.68%5.18%4.89%0.54%0.74%
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 STIP and YCS is -0.28, 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

-0.28

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

-0.41

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

-0.40

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

-0.38

Correlation (All Time)
Calculated using the full available price history since Dec 6, 2010

-0.34

The correlation between STIP and YCS shifts across timeframes, from -0.41 (3 years) to -0.28 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

iShares 0-5 Year TIPS Bond ETF

ProShares UltraShort Yen

Often compared with STIP:
STIP vs. VTIPSTIP vs. TIPSTIP vs. SCHPSTIP vs. SCHOSTIP vs. BNDSTIP vs. SCHRSTIP vs. STPZ
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

STIP vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
STIP
STIP Risk / Return Rank: 9393
Overall Rank
STIP Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
STIP Sortino Ratio Rank: 9696
Sortino Ratio Rank
STIP Omega Ratio Rank: 9494
Omega Ratio Rank
STIP Calmar Ratio Rank: 9393
Calmar Ratio Rank
STIP Martin Ratio Rank: 9494
Martin Ratio Rank
YCS
YCS Risk / Return Rank: 6161
Overall Rank
YCS Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
YCS Sortino Ratio Rank: 4949
Sortino Ratio Rank
YCS Omega Ratio Rank: 5656
Omega Ratio Rank
YCS Calmar Ratio Rank: 7878
Calmar Ratio Rank
YCS Martin Ratio Rank: 6767
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.

STIP vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year TIPS Bond ETF (STIP) 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.

STIPYCSDifference
Sharpe ratioReturn per unit of total volatility
3.23
1.92

+1.31

Sortino ratioReturn per unit of downside risk
5.59
2.44

+3.14

Omega ratioGain probability vs. loss probability

1.69

1.35

+0.34

Calmar ratioReturn relative to maximum drawdown

6.76

3.97

+2.79

Martin ratioReturn relative to average drawdown

26.37

12.40

+13.97

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

STIP vs. YCS - Sharpe Ratio Comparison

The current STIP Sharpe Ratio is 3.23, which is higher than the YCS Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of STIP 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

STIPYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.23

1.92

+1.31

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.23

1.12

+0.11

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.30

0.65

+0.65

Sharpe Ratio (All Time)

Calculated using the full available price history

1.07

0.33

+0.74

Drawdowns

STIP vs. YCS - Drawdown Comparison

The maximum STIP drawdown since its inception was -5.50%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for STIP and YCS.

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Drawdown Indicators

STIPYCSDifference

Max Drawdown

Largest peak-to-trough decline

-5.50%

-49.56%

+44.06%

Max Drawdown (1Y)

Largest decline over 1 year

-0.69%

-8.30%

+7.61%

Max Drawdown (3Y)

Largest decline over 3 years

-0.95%

-23.05%

+22.10%

Max Drawdown (5Y)

Largest decline over 5 years

-5.50%

-27.32%

+21.82%

Max Drawdown (10Y)

Largest decline over 10 years

-5.50%

-27.32%

+21.82%

Current Drawdown

Current decline from peak

-0.03%

0.00%

-0.03%

Average Drawdown

Average peak-to-trough decline

-0.99%

-19.93%

+18.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.18%

2.66%

-2.48%

Volatility

STIP vs. YCS - Volatility Comparison

The current volatility for iShares 0-5 Year TIPS Bond ETF (STIP) is 0.40%, while ProShares UltraShort Yen (YCS) has a volatility of 2.75%. This indicates that STIP 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

STIPYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.40%

2.75%

-2.35%

Volatility (6M)

Calculated over the trailing 6-month period

0.99%

12.32%

-11.33%

Volatility (1Y)

Calculated over the trailing 1-year period

1.46%

17.27%

-15.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.75%

21.10%

-18.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.45%

19.01%

-16.56%

STIP vs. YCS - Expense Ratio Comparison

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

Dividends

STIP vs. YCS - Dividend Comparison

STIP's dividend yield for the trailing twelve months is around 4.30%, while YCS has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019201820172016
STIP
iShares 0-5 Year TIPS Bond ETF		4.30%4.11%2.62%2.84%6.04%4.15%1.40%2.06%2.44%1.59%0.89%
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%

Frequently Asked Questions

STIP and YCS have a correlation of -0.28, 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 STIP (0.40%). In terms of maximum drawdown, STIP dropped -5.50% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.34% vs 3.18% for STIP. On fees, STIP is cheaper at 0.06% per year. On volatility, STIP has been the lower-risk option at 0.40%. 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 3.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

STIP has the higher dividend yield at 4.30%, compared with 0.00% for YCS.

STIP is categorized as Inflation-Protected Bonds, while YCS is Leveraged Currency. STIP tracks Barclays Capital U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L), while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.06% for STIP and 1.00% for YCS.

STIP currently has the higher Sharpe Ratio (3.23 vs 1.92), 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

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