VYM vs. YCS
VYM (Vanguard High Dividend Yield ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - VYM is a Dividend fund tracking the FTSE High Dividend Yield Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, VYM returned 11.98%/yr vs 13.62%/yr for YCS. At a 0.18 correlation, their price movements are largely independent. VYM charges 0.04%/yr vs 1.00%/yr for YCS.
Performance
VYM vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, VYM achieves a 11.51% return, which is significantly higher than YCS's 9.63% return. Over the past 10 years, VYM has underperformed YCS with an annualized return of 11.98%, while YCS has yielded a comparatively higher 13.62% annualized return.
VYM
- 1D
- -0.16%
- 1M
- 0.26%
- YTD
- 11.51%
- 6M
- 10.83%
- 1Y
- 24.08%
- 3Y*
- 18.41%
- 5Y*
- 11.88%
- 10Y*
- 11.98%
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%
VYM vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VYM Vanguard High Dividend Yield ETF | 11.51% | 15.42% | 17.60% | 6.57% | -0.43% | 26.20% | 1.15% | 24.06% | -5.92% | 16.42% |
YCS ProShares UltraShort Yen | 9.63% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between VYM and YCS is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | 0.18 |
The correlation between VYM and YCS shifts across timeframes, from -0.21 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VYM vs. YCS — Risk / Return Rank
VYM
YCS
VYM vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard High Dividend Yield ETF (VYM) 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.
| VYM | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.34 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.61 | 3.78 | -0.17 |
| Martin ratioReturn relative to average drawdown | 13.43 | 11.93 | +1.50 |
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Drawdowns
VYM vs. YCS - Drawdown Comparison
The maximum VYM drawdown since its inception was -56.98%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for VYM and YCS.
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Drawdown Indicators
| VYM | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.98% | -49.56% | -7.42% |
Max Drawdown (1Y)Largest decline over 1 year | -6.69% | -8.30% | +1.61% |
Max Drawdown (3Y)Largest decline over 3 years | -14.46% | -23.05% | +8.59% |
Max Drawdown (5Y)Largest decline over 5 years | -15.84% | -27.32% | +11.48% |
Max Drawdown (10Y)Largest decline over 10 years | -35.21% | -27.32% | -7.89% |
Current DrawdownCurrent decline from peak | -1.28% | -0.14% | -1.14% |
Average DrawdownAverage peak-to-trough decline | -7.18% | -19.87% | +12.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 2.65% | -0.85% |
Volatility
VYM vs. YCS - Volatility Comparison
Vanguard High Dividend Yield ETF (VYM) has a higher volatility of 3.02% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that VYM'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
| VYM | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 2.25% | +0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 7.64% | 12.19% | -4.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.39% | 16.93% | -6.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.93% | 21.10% | -7.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.32% | 18.82% | -2.50% |
VYM vs. YCS - Expense Ratio Comparison
VYM has a 0.04% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
VYM vs. YCS - Dividend Comparison
VYM's dividend yield for the trailing twelve months is around 2.30%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VYM Vanguard High Dividend Yield ETF | 2.30% | 2.44% | 2.74% | 3.12% | 3.01% | 2.76% | 3.18% | 3.03% | 3.40% | 2.80% | 2.91% | 3.22% |
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
VYM and YCS have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VYM has higher volatility (3.02%) compared to YCS (2.25%). In terms of maximum drawdown, VYM dropped -56.98% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.62% vs 11.98% for VYM. On fees, VYM is cheaper at 0.04% per year. On volatility, YCS has been the lower-risk option at 2.25%. 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 13.62% return vs 11.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VYM is cheaper with a 0.04% expense ratio, compared with 1.00% for YCS.
VYM has the higher dividend yield at 2.30%, compared with 0.00% for YCS.
VYM is categorized as Dividend, while YCS is Leveraged Currency. VYM tracks FTSE High Dividend Yield Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Vanguard and ProShares. Their fees differ too: 0.04% for VYM and 1.00% for YCS.
VYM currently has the higher Sharpe Ratio (2.33 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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