URTH vs. YCS
URTH (iShares MSCI World ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - URTH is a Global Equities fund tracking the MSCI World Index (Net), while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, URTH returned 13.61%/yr vs 13.63%/yr for YCS. At a 0.11 correlation, their price movements are largely independent. URTH charges 0.24%/yr vs 1.00%/yr for YCS.
Performance
URTH vs. YCS - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with URTH having a 9.66% return and YCS slightly higher at 9.78%. Both investments have delivered pretty close results over the past 10 years, with URTH having a 13.61% annualized return and YCS not far ahead at 13.63%.
URTH
- 1D
- -0.18%
- 1M
- 0.58%
- YTD
- 9.66%
- 6M
- 9.36%
- 1Y
- 25.98%
- 3Y*
- 20.26%
- 5Y*
- 11.79%
- 10Y*
- 13.61%
YCS
- 1D
- 0.40%
- 1M
- 3.71%
- YTD
- 9.78%
- 6M
- 9.63%
- 1Y
- 31.36%
- 3Y*
- 18.43%
- 5Y*
- 23.50%
- 10Y*
- 13.63%
URTH vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
URTH iShares MSCI World ETF | 9.66% | 21.36% | 18.66% | 23.95% | -17.97% | 22.27% | 15.78% | 28.15% | -8.56% | 22.95% |
YCS ProShares UltraShort Yen | 9.78% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between URTH 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 | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2012 | 0.11 |
The correlation between URTH and YCS shifts across timeframes, from -0.28 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
URTH vs. YCS — Risk / Return Rank
URTH
YCS
URTH vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World ETF (URTH) 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.
| URTH | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.35 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 3.79 | -0.91 |
| Martin ratioReturn relative to average drawdown | 12.77 | 11.86 | +0.91 |
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Drawdowns
URTH vs. YCS - Drawdown Comparison
The maximum URTH drawdown since its inception was -34.01%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for URTH and YCS.
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Drawdown Indicators
| URTH | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.01% | -49.56% | +15.55% |
Max Drawdown (1Y)Largest decline over 1 year | -9.06% | -8.30% | -0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -16.94% | -23.05% | +6.11% |
Max Drawdown (5Y)Largest decline over 5 years | -26.05% | -27.32% | +1.27% |
Max Drawdown (10Y)Largest decline over 10 years | -34.01% | -27.32% | -6.69% |
Current DrawdownCurrent decline from peak | -1.19% | 0.00% | -1.19% |
Average DrawdownAverage peak-to-trough decline | -4.36% | -19.88% | +15.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 2.65% | -0.61% |
Volatility
URTH vs. YCS - Volatility Comparison
iShares MSCI World ETF (URTH) has a higher volatility of 4.47% compared to ProShares UltraShort Yen (YCS) at 2.22%. This indicates that URTH'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
| URTH | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.47% | 2.22% | +2.25% |
Volatility (6M)Calculated over the trailing 6-month period | 10.16% | 12.19% | -2.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.59% | 16.96% | -4.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.26% | 21.10% | -4.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.29% | 18.96% | -1.67% |
URTH vs. YCS - Expense Ratio Comparison
URTH has a 0.24% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
URTH vs. YCS - Dividend Comparison
URTH's dividend yield for the trailing twelve months is around 1.40%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
URTH iShares MSCI World ETF | 1.40% | 1.48% | 1.47% | 1.70% | 1.68% | 1.50% | 1.52% | 2.16% | 2.30% | 1.88% | 2.15% | 2.35% |
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
URTH 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.
URTH has higher volatility (4.47%) compared to YCS (2.22%). In terms of maximum drawdown, URTH dropped -34.01% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.63% vs 13.61% for URTH. On fees, URTH is cheaper at 0.24% per year. On volatility, YCS has been the lower-risk option at 2.22%. 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 13.63% return vs 13.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
URTH is cheaper with a 0.24% expense ratio, compared with 1.00% for YCS.
URTH has the higher dividend yield at 1.40%, compared with 0.00% for YCS.
URTH is categorized as Global Equities, while YCS is Leveraged Currency. URTH tracks MSCI World Index (Net), while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.24% for URTH and 1.00% for YCS.
URTH currently has the higher Sharpe Ratio (2.08 vs 1.86), 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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