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VEA vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEA vs. YCS

Last updated Jun 5, 2026

VEA (Vanguard FTSE Developed Markets ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - VEA is a Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, VEA returned 10.13%/yr vs 12.16%/yr for YCS. At a 0.05 correlation, their price movements are largely independent. VEA charges 0.03%/yr vs 1.00%/yr for YCS.

Performance

VEA vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Developed Markets ETF (VEA) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VEA achieves a 15.19% return, which is significantly higher than YCS's 7.17% return. Over the past 10 years, VEA has underperformed YCS with an annualized return of 10.13%, while YCS has yielded a comparatively higher 12.16% annualized return.

VEA

1D
0.24%
1M
4.15%
YTD
15.19%
6M
18.13%
1Y
32.11%
3Y*
20.11%
5Y*
9.65%
10Y*
10.13%

YCS

1D
0.00%
1M
3.39%
YTD
7.17%
6M
10.02%
1Y
34.99%
3Y*
20.03%
5Y*
23.54%
10Y*
12.16%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEA vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEA
Vanguard FTSE Developed Markets ETF		15.19%35.16%3.15%17.93%-15.34%11.66%9.71%22.62%-14.75%26.42%
YCS
ProShares UltraShort Yen		7.17%9.04%35.41%28.70%29.09%22.38%-11.18%3.37%-1.49%-6.57%

Correlation

The correlation between VEA and YCS is -0.44, 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

-0.44

Correlation (3Y)
Calculated over the trailing 3-year period

-0.29

Correlation (5Y)
Calculated over the trailing 5-year period

-0.24

Correlation (10Y)
Calculated over the trailing 10-year period

-0.08

Correlation (All Time)
Calculated using the full available price history since Nov 26, 2008

0.05

The correlation between VEA and YCS shifts across timeframes, from -0.44 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard FTSE Developed Markets ETF

ProShares UltraShort Yen

Often compared with VEA:
VEA vs. VXUSVEA vs. VWOVEA vs. VOOVEA vs. VEUVEA vs. SCHFVEA vs. IEFAVEA vs. VTI
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

VEA vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEA
VEA Risk / Return Rank: 6161
Overall Rank
VEA Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
VEA Sortino Ratio Rank: 6262
Sortino Ratio Rank
VEA Omega Ratio Rank: 6363
Omega Ratio Rank
VEA Calmar Ratio Rank: 5757
Calmar Ratio Rank
VEA Martin Ratio Rank: 6161
Martin Ratio Rank
YCS
YCS Risk / Return Rank: 6767
Overall Rank
YCS Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
YCS Sortino Ratio Rank: 5555
Sortino Ratio Rank
YCS Omega Ratio Rank: 6363
Omega Ratio Rank
YCS Calmar Ratio Rank: 8282
Calmar Ratio Rank
YCS Martin Ratio Rank: 7272
Martin Ratio Rank
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.

VEA vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Markets ETF (VEA) 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.

VEAYCSDifference
Sharpe ratioReturn per unit of total volatility
2.06
2.06

+0.01

Sortino ratioReturn per unit of downside risk
2.84
2.60

+0.25

Omega ratioGain probability vs. loss probability

1.37

1.38

0.00

Calmar ratioReturn relative to maximum drawdown

2.77

4.23

-1.46

Martin ratioReturn relative to average drawdown

10.82

13.22

-2.40

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEA vs. YCS - Sharpe Ratio Comparison

The current VEA Sharpe Ratio is 2.06, which is comparable to the YCS Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of VEA 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.

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Sharpe Ratios by Period

VEAYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.06

2.06

+0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.59

1.12

-0.54

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.59

0.64

-0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

0.25

0.33

-0.08

Drawdowns

VEA vs. YCS - Drawdown Comparison

The maximum VEA drawdown since its inception was -60.68%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for VEA and YCS.

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Drawdown Indicators

VEAYCSDifference

Max Drawdown

Largest peak-to-trough decline

-60.68%

-49.56%

-11.12%

Max Drawdown (1Y)

Largest decline over 1 year

-11.63%

-8.30%

-3.33%

Max Drawdown (3Y)

Largest decline over 3 years

-13.45%

-23.05%

+9.60%

Max Drawdown (5Y)

Largest decline over 5 years

-29.71%

-27.32%

-2.39%

Max Drawdown (10Y)

Largest decline over 10 years

-35.73%

-27.32%

-8.41%

Current Drawdown

Current decline from peak

-0.66%

0.00%

-0.66%

Average Drawdown

Average peak-to-trough decline

-13.29%

-19.93%

+6.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.98%

2.65%

+0.33%

Volatility

VEA vs. YCS - Volatility Comparison

Vanguard FTSE Developed Markets ETF (VEA) has a higher volatility of 5.49% compared to ProShares UltraShort Yen (YCS) at 2.62%. This indicates that VEA'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

VEAYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.49%

2.62%

+2.87%

Volatility (6M)

Calculated over the trailing 6-month period

13.32%

12.31%

+1.01%

Volatility (1Y)

Calculated over the trailing 1-year period

15.64%

17.18%

-1.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.54%

21.09%

-4.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.35%

19.01%

-1.66%

VEA vs. YCS - Expense Ratio Comparison

VEA has a 0.03% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

VEA vs. YCS - Dividend Comparison

VEA's dividend yield for the trailing twelve months is around 2.61%, while YCS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
VEA
Vanguard FTSE Developed Markets ETF		2.61%3.22%3.35%3.15%2.91%3.16%2.04%3.04%3.35%2.77%3.05%2.92%
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

VEA and YCS have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VEA has higher volatility (5.49%) compared to YCS (2.62%). In terms of maximum drawdown, VEA dropped -60.68% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.16% vs 10.13% for VEA. On fees, VEA is cheaper at 0.03% per year. On volatility, YCS has been the lower-risk option at 2.62%. 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 12.16% return vs 10.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VEA is cheaper with a 0.03% expense ratio, compared with 1.00% for YCS.

VEA has the higher dividend yield at 2.61%, compared with 0.00% for YCS.

VEA is categorized as Foreign Large Cap Equities, while YCS is Leveraged Currency. VEA tracks FTSE Developed All Cap ex US Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Vanguard and ProShares. Their fees differ too: 0.03% for VEA and 1.00% for YCS.

VEA currently has the higher Sharpe Ratio (2.06 vs 2.06), 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.

Portfolio Optimizer

Find the right allocation for VEA and YCS

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