XCLR vs. YCS
XCLR (Global X S&P 500 Collar 95-110 ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - XCLR is a Equity Hedged fund tracking the Cboe S&P 500 3-Month Collar 95-110 Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 3 years, XCLR returned 13.33%/yr vs 18.37%/yr for YCS. At a correlation of -0.02, they often move in opposite directions. XCLR charges 0.25%/yr vs 1.00%/yr for YCS.
Performance
XCLR vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, XCLR achieves a 1.45% return, which is significantly lower than YCS's 9.63% return.
XCLR
- 1D
- -0.86%
- 1M
- -0.46%
- YTD
- 1.45%
- 6M
- 0.79%
- 1Y
- 11.53%
- 3Y*
- 13.33%
- 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%
XCLR vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XCLR Global X S&P 500 Collar 95-110 ETF | 1.45% | 10.25% | 20.67% | 15.64% | -12.93% | 3.30% |
YCS ProShares UltraShort Yen | 9.63% | 9.04% | 35.41% | 28.70% | 29.09% | 8.90% |
Correlation
The correlation between XCLR and YCS is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Aug 26, 2021 | -0.02 |
The correlation between XCLR and YCS shifts across timeframes, from -0.17 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XCLR vs. YCS — Risk / Return Rank
XCLR
YCS
XCLR vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Collar 95-110 ETF (XCLR) 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.
| XCLR | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.34 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 3.78 | -2.39 |
| Martin ratioReturn relative to average drawdown | 5.62 | 11.93 | -6.31 |
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Drawdowns
XCLR vs. YCS - Drawdown Comparison
The maximum XCLR drawdown since its inception was -14.63%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for XCLR and YCS.
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Drawdown Indicators
| XCLR | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.63% | -49.56% | +34.93% |
Max Drawdown (1Y)Largest decline over 1 year | -8.29% | -8.30% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -12.46% | -23.05% | +10.59% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.32% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -1.32% | -0.14% | -1.18% |
Average DrawdownAverage peak-to-trough decline | -4.65% | -19.87% | +15.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 2.65% | -0.59% |
Volatility
XCLR vs. YCS - Volatility Comparison
The current volatility for Global X S&P 500 Collar 95-110 ETF (XCLR) is 1.31%, while ProShares UltraShort Yen (YCS) has a volatility of 2.25%. This indicates that XCLR 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.
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Volatility by Period
| XCLR | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 2.25% | -0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 5.99% | 12.19% | -6.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.39% | 16.93% | -8.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.39% | 21.10% | -10.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.39% | 18.82% | -8.43% |
XCLR vs. YCS - Expense Ratio Comparison
XCLR has a 0.25% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
XCLR vs. YCS - Dividend Comparison
XCLR's dividend yield for the trailing twelve months is around 12.96%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
XCLR Global X S&P 500 Collar 95-110 ETF | 12.96% | 13.15% | 18.76% | 1.40% | 1.01% | 1.70% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XCLR and YCS have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCS has higher volatility (2.25%) compared to XCLR (1.31%). In terms of maximum drawdown, XCLR dropped -14.63% vs YCS's -49.56%.
On 3-year performance, YCS leads with 18.37% vs 13.33% for XCLR. On fees, XCLR is cheaper at 0.25% per year. On volatility, XCLR has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, YCS has performed better with a 18.37% return vs 13.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XCLR is cheaper with a 0.25% expense ratio, compared with 1.00% for YCS.
XCLR has the higher dividend yield at 12.96%, compared with 0.00% for YCS.
XCLR is categorized as Equity Hedged, while YCS is Leveraged Currency. XCLR tracks Cboe S&P 500 3-Month Collar 95-110 Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Global X and ProShares. Their fees differ too: 0.25% for XCLR and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.86 vs 1.38), 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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