VPC vs. YCS
VPC (Virtus Private Credit ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - VPC is a Nontraditional Bonds fund tracking the Indxx Private Credit Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 5 years, VPC returned 1.17%/yr vs 23.54%/yr for YCS. At a correlation of -0.01, they often move in opposite directions. VPC charges 0.75%/yr vs 1.00%/yr for YCS.
Performance
VPC vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, VPC achieves a -9.26% return, which is significantly lower than YCS's 7.17% return.
VPC
- 1D
- -1.89%
- 1M
- -5.24%
- YTD
- -9.26%
- 6M
- -10.18%
- 1Y
- -12.88%
- 3Y*
- 2.85%
- 5Y*
- 1.17%
- 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%
VPC vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VPC Virtus Private Credit ETF | -9.26% | -6.75% | 10.52% | 22.20% | -11.70% | 34.18% | -9.50% | 9.32% |
YCS ProShares UltraShort Yen | 7.17% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 2.51% |
Correlation
The correlation between VPC and YCS is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2019 | -0.01 |
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Return for Risk
VPC vs. YCS — Risk / Return Rank
VPC
YCS
VPC vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Private Credit ETF (VPC) 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.
| VPC | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.90 | ||
| Sortino ratioReturn per unit of downside risk | -3.77 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.35 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | -0.57 | 3.97 | -4.54 |
| Martin ratioReturn relative to average drawdown | -1.13 | 12.40 | -13.52 |
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
| VPC | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.98 | 1.92 | -2.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 1.12 | -1.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.33 | -0.13 |
Drawdowns
VPC vs. YCS - Drawdown Comparison
The maximum VPC drawdown since its inception was -53.45%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for VPC and YCS.
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Drawdown Indicators
| VPC | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.45% | -49.56% | -3.89% |
Max Drawdown (1Y)Largest decline over 1 year | -22.76% | -8.30% | -14.46% |
Max Drawdown (3Y)Largest decline over 3 years | -24.86% | -23.05% | -1.81% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | -27.32% | +2.46% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -19.63% | 0.00% | -19.63% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -19.93% | +12.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.45% | 2.66% | +8.79% |
Volatility
VPC vs. YCS - Volatility Comparison
Virtus Private Credit ETF (VPC) has a higher volatility of 3.27% compared to ProShares UltraShort Yen (YCS) at 2.75%. This indicates that VPC'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
| VPC | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 2.75% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 10.85% | 12.32% | -1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.17% | 17.27% | -4.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.50% | 21.10% | -7.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.56% | 19.01% | +1.55% |
VPC vs. YCS - Expense Ratio Comparison
VPC has a 0.75% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
VPC vs. YCS - Dividend Comparison
VPC's dividend yield for the trailing twelve months is around 17.30%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
VPC Virtus Private Credit ETF | 17.30% | 14.33% | 11.26% | 11.71% | 10.74% | 6.31% | 10.06% | 8.19% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VPC and YCS have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPC has higher volatility (3.27%) compared to YCS (2.75%). In terms of maximum drawdown, VPC dropped -53.45% vs YCS's -49.56%.
On 5-year performance, YCS leads with 23.54% vs 1.17% for VPC. On fees, VPC is cheaper at 0.75% per year. On volatility, YCS has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, YCS has performed better with a 23.54% return vs 1.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VPC is cheaper with a 0.75% expense ratio, compared with 1.00% for YCS.
VPC has the higher dividend yield at 17.30%, compared with 0.00% for YCS.
VPC is categorized as Nontraditional Bonds, while YCS is Leveraged Currency. VPC tracks Indxx Private Credit Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Virtus Investment Partners and ProShares. Their fees differ too: 0.75% for VPC and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.92 vs -0.98), 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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