VEMY vs. YCS

Last updated Jun 24, 2026

VEMY (Virtus Stone Harbor Emerging Markets High Yield Bond ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - VEMY is a Emerging Markets Bonds fund actively managed by Virtus, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). VEMY is actively managed, while YCS is passively managed. Over the past 3 years, VEMY returned 15.11%/yr vs 18.37%/yr for YCS. At a correlation of -0.22, they often move in opposite directions. VEMY charges 0.58%/yr vs 1.00%/yr for YCS.

Performance

VEMY vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) 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, VEMY achieves a 6.35% return, which is significantly lower than YCS's 9.63% return.

VEMY

• 1D: 0.00%
• 1M: 1.75%
• YTD: 6.35%
• 6M: 6.44%
• 1Y: 17.80%
• 3Y*: 15.11%
• 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)

VEMY vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF	6.35%	15.27%	13.48%	14.45%	-1.43%
YCS ProShares UltraShort Yen	9.63%	9.04%	35.41%	28.70%	-9.42%

Correlation

The correlation between VEMY 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	-0.23
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022	-0.22

Return for Risk

VEMY vs. YCS — Risk / Return Rank

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

VEMY

VEMY Risk / Return Rank: 91
VEMY Sharpe Ratio Rank: 91
VEMY Sortino Ratio Rank: 94
VEMY Omega Ratio Rank: 93
VEMY Calmar Ratio Rank: 85
VEMY Martin Ratio Rank: 92

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.

VEMY vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) 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.

	VEMY	YCS	Difference
Sharpe ratio: Return per unit of total volatility	2.94	1.86	+1.08
Sortino ratio: Return per unit of downside risk	4.53	2.36	+2.17
Omega ratio: Gain probability vs. loss probability	1.60	1.34	+0.25
Calmar ratio: Return relative to maximum drawdown	4.46	3.78	+0.68
Martin ratio: Return relative to average drawdown	21.16	11.93	+9.23

VEMY vs. YCS - Sharpe Ratio Comparison

The current VEMY Sharpe Ratio is 2.94, which is higher than the YCS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of VEMY 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

VEMY vs. YCS - Drawdown Comparison

The maximum VEMY drawdown since its inception was -8.77%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for VEMY and YCS.

Drawdown Indicators

	VEMY	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-8.77%	-49.56%	+40.79%
Max Drawdown (1Y) Largest decline over 1 year	-4.00%	-8.30%	+4.30%
Max Drawdown (3Y) Largest decline over 3 years	-6.57%	-23.05%	+16.48%
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	-0.41%	-0.14%	-0.27%
Average Drawdown Average peak-to-trough decline	-1.29%	-19.87%	+18.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	2.65%	-1.81%

Volatility

VEMY vs. YCS - Volatility Comparison

The current volatility for Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) is 1.42%, while ProShares UltraShort Yen (YCS) has a volatility of 2.25%. This indicates that VEMY 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.

Volatility by Period

	VEMY	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	2.25%	-0.83%
Volatility (6M) Calculated over the trailing 6-month period	4.75%	12.19%	-7.44%
Volatility (1Y) Calculated over the trailing 1-year period	6.09%	16.93%	-10.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.61%	21.10%	-13.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.61%	18.82%	-11.21%

VEMY vs. YCS - Expense Ratio Comparison

VEMY has a 0.58% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

VEMY vs. YCS - Dividend Comparison

VEMY's dividend yield for the trailing twelve months is around 8.21%, while YCS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF	8.21%	8.89%	10.28%	9.55%
YCS ProShares UltraShort Yen	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VEMY and YCS in my portfolio?

VEMY 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.

Which is riskier, VEMY or YCS?

YCS has higher volatility (2.25%) compared to VEMY (1.42%). In terms of maximum drawdown, VEMY dropped -8.77% vs YCS's -49.56%.

Which ETF is better, VEMY or YCS?

On 3-year performance, YCS leads with 18.37% vs 15.11% for VEMY. On fees, VEMY is cheaper at 0.58% per year. On volatility, VEMY has been the lower-risk option at 1.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VEMY or YCS?

Over the 3-year period, YCS has performed better with a 18.37% return vs 15.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VEMY or YCS?

VEMY is cheaper with a 0.58% expense ratio, compared with 1.00% for YCS.

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

VEMY has the higher dividend yield at 8.21%, compared with 0.00% for YCS.

What is the main difference between VEMY and YCS?

VEMY is categorized as Emerging Markets Bonds, while YCS is Leveraged Currency. They also come from different issuers: Virtus and ProShares. Their fees differ too: 0.58% for VEMY and 1.00% for YCS.

Which has better risk-adjusted returns?

VEMY currently has the higher Sharpe Ratio (2.94 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.