TBT vs. YCS
Compare and contrast key facts about ProShares UltraShort 20+ Year Treasury (TBT) and ProShares UltraShort Yen (YCS).
TBT and YCS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TBT is a passively managed fund by ProShares that tracks the performance of the U.S. Treasury 20+ Year Index (-200%). It was launched on May 1, 2008. YCS is a passively managed fund by ProShares that tracks the performance of the USD/JPY Exchange Rate (-200%). It was launched on Nov 25, 2008. Both TBT and YCS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TBT or YCS.
Key characteristics
| TBT | YCS | |
|---|---|---|
| YTD Return | 25.09% | 30.18% |
| 1Y Return | 39.97% | 50.18% |
| 3Y Return (Ann) | 24.49% | 33.44% |
| 5Y Return (Ann) | 3.90% | 18.40% |
| 10Y Return (Ann) | -4.09% | 10.51% |
| Sharpe Ratio | 0.99 | 2.67 |
| Daily Std Dev | 33.47% | 17.90% |
| Max Drawdown | -94.99% | -49.56% |
| Current Drawdown | -86.15% | -0.34% |
Correlation
The correlation between TBT and YCS is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
TBT vs. YCS - Performance Comparison
In the year-to-date period, TBT achieves a 25.09% return, which is significantly lower than YCS's 30.18% return. Over the past 10 years, TBT has underperformed YCS with an annualized return of -4.09%, while YCS has yielded a comparatively higher 10.51% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TBT vs. YCS - Expense Ratio Comparison
TBT has a 0.92% expense ratio, which is lower than YCS's 1.00% expense ratio.
Risk-Adjusted Performance
TBT vs. YCS - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort 20+ Year Treasury (TBT) 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.
Dividends
TBT vs. YCS - Dividend Comparison
TBT's dividend yield for the trailing twelve months is around 4.11%, while YCS has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
TBT ProShares UltraShort 20+ Year Treasury | 4.11% | 4.98% | 0.42% | 0.00% | 0.27% | 2.12% | 0.99% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
TBT vs. YCS - Drawdown Comparison
The maximum TBT drawdown since its inception was -94.99%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for TBT and YCS. For additional features, visit the drawdowns tool.
Volatility
TBT vs. YCS - Volatility Comparison
ProShares UltraShort 20+ Year Treasury (TBT) has a higher volatility of 8.17% compared to ProShares UltraShort Yen (YCS) at 4.75%. This indicates that TBT'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.