USD vs. YCS
USD (ProShares Ultra Semiconductors) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%), while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, USD returned 61.82%/yr vs 12.96%/yr for YCS. At a 0.17 correlation, their price movements are largely independent. USD charges 0.95%/yr vs 1.00%/yr for YCS.
Performance
USD vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, USD achieves a 103.68% return, which is significantly higher than YCS's 7.88% return. Over the past 10 years, USD has outperformed YCS with an annualized return of 61.82%, while YCS has yielded a comparatively lower 12.96% annualized return.
USD
- 1D
- 9.00%
- 1M
- 11.71%
- YTD
- 103.68%
- 6M
- 118.16%
- 1Y
- 251.95%
- 3Y*
- 115.80%
- 5Y*
- 68.08%
- 10Y*
- 61.82%
YCS
- 1D
- 0.26%
- 1M
- 2.50%
- YTD
- 7.88%
- 6M
- 10.26%
- 1Y
- 33.48%
- 3Y*
- 18.92%
- 5Y*
- 23.21%
- 10Y*
- 12.96%
USD vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USD ProShares Ultra Semiconductors | 103.68% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
YCS ProShares UltraShort Yen | 7.88% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between USD and YCS is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | 0.17 |
The correlation between USD and YCS shifts across timeframes, from -0.00 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
USD vs. YCS — Risk / Return Rank
USD
YCS
USD vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Semiconductors (USD) 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.
| USD | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.89 | ||
| Sortino ratioReturn per unit of downside risk | +0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.37 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 7.98 | 4.05 | +3.93 |
| Martin ratioReturn relative to average drawdown | 22.33 | 12.65 | +9.68 |
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Drawdowns
USD vs. YCS - Drawdown Comparison
The maximum USD drawdown since its inception was -88.63%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for USD and YCS.
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Drawdown Indicators
| USD | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.63% | -49.56% | -39.07% |
Max Drawdown (1Y)Largest decline over 1 year | -31.80% | -8.30% | -23.50% |
Max Drawdown (3Y)Largest decline over 3 years | -64.46% | -23.05% | -41.41% |
Max Drawdown (5Y)Largest decline over 5 years | -77.85% | -27.32% | -50.53% |
Max Drawdown (10Y)Largest decline over 10 years | -77.85% | -27.32% | -50.53% |
Current DrawdownCurrent decline from peak | -5.90% | -0.27% | -5.63% |
Average DrawdownAverage peak-to-trough decline | -32.32% | -19.89% | -12.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.34% | 2.65% | +8.69% |
Volatility
USD vs. YCS - Volatility Comparison
ProShares Ultra Semiconductors (USD) has a higher volatility of 30.47% compared to ProShares UltraShort Yen (YCS) at 2.18%. This indicates that USD'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
| USD | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.47% | 2.18% | +28.29% |
Volatility (6M)Calculated over the trailing 6-month period | 52.98% | 12.25% | +40.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.79% | 17.05% | +48.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.31% | 21.10% | +56.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.69% | 18.98% | +50.71% |
USD vs. YCS - Expense Ratio Comparison
USD has a 0.95% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
USD vs. YCS - Dividend Comparison
USD's dividend yield for the trailing twelve months is around 0.23%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USD ProShares Ultra Semiconductors | 0.23% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
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
USD and YCS have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (30.47%) compared to YCS (2.18%). In terms of maximum drawdown, USD dropped -88.63% vs YCS's -49.56%.
On 10-year performance, USD leads with 61.82% vs 12.96% for YCS. On fees, USD is cheaper at 0.95% per year. On volatility, YCS has been the lower-risk option at 2.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USD has performed better with a 61.82% return vs 12.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USD is cheaper with a 0.95% expense ratio, compared with 1.00% for YCS.
USD has the higher dividend yield at 0.23%, compared with 0.00% for YCS.
USD is categorized as Leveraged Equities, while YCS is Leveraged Currency. USD tracks Dow Jones U.S. Semiconductors Index (200%), while YCS tracks USD/JPY Exchange Rate (-200%). Their fees differ too: 0.95% for USD and 1.00% for YCS.
USD currently has the higher Sharpe Ratio (3.86 vs 1.98), 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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