TSLT vs. YCS

Last updated Jun 24, 2026

TSLT (T-Rex 2X Long Tesla Daily Target ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - TSLT is a Leveraged Equities fund actively managed by T-Rex, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). TSLT is actively managed, while YCS is passively managed. Over the past year, TSLT returned -15.30% vs 31.27% for YCS. At a correlation of -0.03, they often move in opposite directions. TSLT charges 1.05%/yr vs 1.00%/yr for YCS.

Performance

TSLT vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long Tesla Daily Target ETF (TSLT) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLT achieves a -38.04% return, which is significantly lower than YCS's 9.63% return.

TSLT

• 1D: -11.45%
• 1M: -22.15%
• YTD: -38.04%
• 6M: -47.16%
• 1Y: -15.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YCS

• 1D: -0.14%
• 1M: 3.57%
• YTD: 9.63%
• 6M: 10.44%
• 1Y: 31.27%
• 3Y*: 18.37%
• 5Y*: 23.52%
• 10Y*: 13.62%

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

TSLT vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSLT T-Rex 2X Long Tesla Daily Target ETF	-38.04%	-29.49%	54.17%	13.02%
YCS ProShares UltraShort Yen	9.63%	9.04%	35.41%	-9.38%

Correlation

The correlation between TSLT 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 (All Time) Calculated using the full available price history since Oct 19, 2023	-0.03

Return for Risk

TSLT vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TSLT

TSLT Risk / Return Rank: 8
TSLT Sharpe Ratio Rank: 7
TSLT Sortino Ratio Rank: 10
TSLT Omega Ratio Rank: 10
TSLT Calmar Ratio Rank: 6
TSLT Martin Ratio Rank: 6

YCS

YCS Risk / Return Rank: 63
YCS Sharpe Ratio Rank: 58
YCS Sortino Ratio Rank: 51
YCS Omega Ratio Rank: 59
YCS Calmar Ratio Rank: 77
YCS Martin Ratio Rank: 69

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.

TSLT vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long Tesla Daily Target ETF (TSLT) 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.

	TSLT	YCS	Difference
Sharpe ratio: Return per unit of total volatility	-0.18	1.86	-2.03
Sortino ratio: Return per unit of downside risk	0.35	2.36	-2.01
Omega ratio: Gain probability vs. loss probability	1.04	1.34	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.28	3.78	-4.06
Martin ratio: Return relative to average drawdown	-0.55	11.93	-12.48

TSLT vs. YCS - Sharpe Ratio Comparison

The current TSLT Sharpe Ratio is -0.18, which is lower than the YCS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of TSLT 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.

Drawdowns

TSLT vs. YCS - Drawdown Comparison

The maximum TSLT drawdown since its inception was -83.16%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for TSLT and YCS.

Drawdown Indicators

	TSLT	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-83.16%	-49.56%	-33.60%
Max Drawdown (1Y) Largest decline over 1 year	-55.08%	-8.30%	-46.78%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.32%	—
Current Drawdown Current decline from peak	-69.90%	-0.14%	-69.76%
Average Drawdown Average peak-to-trough decline	-50.62%	-19.87%	-30.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.13%	2.65%	+25.48%

Volatility

TSLT vs. YCS - Volatility Comparison

T-Rex 2X Long Tesla Daily Target ETF (TSLT) has a higher volatility of 28.45% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that TSLT'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.

Volatility by Period

	TSLT	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.45%	2.25%	+26.20%
Volatility (6M) Calculated over the trailing 6-month period	56.51%	12.19%	+44.32%
Volatility (1Y) Calculated over the trailing 1-year period	88.95%	16.93%	+72.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	116.87%	21.10%	+95.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	116.87%	18.82%	+98.05%

TSLT vs. YCS - Expense Ratio Comparison

TSLT has a 1.05% expense ratio, which is higher than YCS's 1.00% expense ratio.

Dividends

TSLT vs. YCS - Dividend Comparison

Neither TSLT nor YCS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both TSLT and YCS in my portfolio?

TSLT 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.

Which is riskier, TSLT or YCS?

TSLT has higher volatility (28.45%) compared to YCS (2.25%). In terms of maximum drawdown, TSLT dropped -83.16% vs YCS's -49.56%.

Which ETF is better, TSLT or YCS?

On 1-year performance, YCS leads with 31.27% vs -15.30% for TSLT. On fees, YCS is cheaper at 1.00% per year. On volatility, YCS has been the lower-risk option at 2.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLT or YCS?

Over the 1-year period, YCS has performed better with a 31.27% return vs -15.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLT or YCS?

YCS is cheaper with a 1.00% expense ratio, compared with 1.05% for TSLT.

Which ETF pays a higher dividend yield, TSLT or YCS?

TSLT and YCS have nearly identical dividend yields, around 0.00%.

What is the main difference between TSLT and YCS?

TSLT is categorized as Leveraged Equities, while YCS is Leveraged Currency. They also come from different issuers: T-Rex and ProShares. Their fees differ too: 1.05% for TSLT and 1.00% for YCS.

Which has better risk-adjusted returns?

YCS currently has the higher Sharpe Ratio (1.86 vs -0.18), 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.