TUA vs. YCS
TUA (Simplify Short Term Treasury Futures Strategy ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - TUA is a Intermediate Core Bond fund actively managed by Simplify, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). TUA is actively managed, while YCS is passively managed. Over the past 3 years, TUA returned -0.88%/yr vs 19.84%/yr for YCS. At a correlation of -0.54, they often move in opposite directions. TUA charges 0.16%/yr vs 1.00%/yr for YCS.
Performance
TUA vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, TUA achieves a -5.38% return, which is significantly lower than YCS's 7.17% return.
TUA
- 1D
- -0.39%
- 1M
- -0.91%
- YTD
- -5.38%
- 6M
- -5.28%
- 1Y
- -1.78%
- 3Y*
- -0.88%
- 5Y*
- —
- 10Y*
- —
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%
TUA vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | -5.38% | 7.27% | -3.59% | -2.04% | -0.81% |
YCS ProShares UltraShort Yen | 7.17% | 9.04% | 35.41% | 28.70% | -11.04% |
Correlation
The correlation between TUA and YCS is -0.53, 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 | -0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.52 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2022 | -0.54 |
The correlation between TUA and YCS has been stable across timeframes, ranging from -0.54 to -0.52 - a consistent structural relationship.
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Return for Risk
TUA vs. YCS — Risk / Return Rank
TUA
YCS
TUA vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Short Term Treasury Futures Strategy ETF (TUA) 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.
| TUA | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.18 | ||
| Sortino ratioReturn per unit of downside risk | -2.77 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.35 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | 3.97 | -4.24 |
| Martin ratioReturn relative to average drawdown | -0.71 | 12.40 | -13.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TUA | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.26 | 1.92 | -2.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.12 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.13 | 0.33 | -0.46 |
Drawdowns
TUA vs. YCS - Drawdown Comparison
The maximum TUA drawdown since its inception was -15.85%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for TUA and YCS.
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Drawdown Indicators
| TUA | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -49.56% | +33.71% |
Max Drawdown (1Y)Largest decline over 1 year | -6.68% | -8.30% | +1.62% |
Max Drawdown (3Y)Largest decline over 3 years | -9.14% | -23.05% | +13.91% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.32% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -10.05% | 0.00% | -10.05% |
Average DrawdownAverage peak-to-trough decline | -8.37% | -19.93% | +11.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 2.66% | -0.13% |
Volatility
TUA vs. YCS - Volatility Comparison
The current volatility for Simplify Short Term Treasury Futures Strategy ETF (TUA) is 1.95%, while ProShares UltraShort Yen (YCS) has a volatility of 2.75%. This indicates that TUA 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
| TUA | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.95% | 2.75% | -0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 4.84% | 12.32% | -7.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.85% | 17.27% | -10.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.76% | 21.10% | -10.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.76% | 19.01% | -8.25% |
TUA vs. YCS - Expense Ratio Comparison
TUA has a 0.16% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
TUA vs. YCS - Dividend Comparison
TUA's dividend yield for the trailing twelve months is around 3.56%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | 3.56% | 3.84% | 5.19% | 4.83% | 0.15% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TUA and YCS have a correlation of -0.53, 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 TUA (1.95%). In terms of maximum drawdown, TUA dropped -15.85% vs YCS's -49.56%.
On 3-year performance, YCS leads with 19.84% vs -0.88% for TUA. On fees, TUA is cheaper at 0.16% per year. On volatility, TUA has been the lower-risk option at 1.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, YCS has performed better with a 19.84% return vs -0.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TUA is cheaper with a 0.16% expense ratio, compared with 1.00% for YCS.
TUA has the higher dividend yield at 3.56%, compared with 0.00% for YCS.
TUA is categorized as Intermediate Core Bond, while YCS is Leveraged Currency. They also come from different issuers: Simplify and ProShares. Their fees differ too: 0.16% for TUA and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.92 vs -0.26), 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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