XDTE vs. YCS

Last updated Jun 24, 2026

XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - XDTE is a Derivative Income fund actively managed by Roundhill, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). XDTE is actively managed, while YCS is passively managed. Over the past year, XDTE returned 22.04% vs 31.27% for YCS. At a 0.01 correlation, their price movements are largely independent. XDTE charges 0.97%/yr vs 1.00%/yr for YCS.

Performance

XDTE vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) 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, XDTE achieves a 6.79% return, which is significantly lower than YCS's 9.63% return.

XDTE

• 1D: -1.35%
• 1M: -0.74%
• YTD: 6.79%
• 6M: 5.92%
• 1Y: 22.04%
• 3Y*: —
• 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)

XDTE vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	6.79%	12.60%	17.12%
YCS ProShares UltraShort Yen	9.63%	9.04%	18.08%

Correlation

The correlation between XDTE 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 (All Time) Calculated using the full available price history since Mar 7, 2024	0.01

The correlation between XDTE and YCS shifts across timeframes, from -0.17 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XDTE vs. YCS — Risk / Return Rank

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

XDTE

XDTE Risk / Return Rank: 61
XDTE Sharpe Ratio Rank: 59
XDTE Sortino Ratio Rank: 55
XDTE Omega Ratio Rank: 59
XDTE Calmar Ratio Rank: 61
XDTE Martin Ratio Rank: 70

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.

XDTE vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) 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.

	XDTE	YCS	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.86	+0.06
Sortino ratio: Return per unit of downside risk	2.56	2.36	+0.20
Omega ratio: Gain probability vs. loss probability	1.35	1.34	+0.01
Calmar ratio: Return relative to maximum drawdown	2.88	3.78	-0.90
Martin ratio: Return relative to average drawdown	12.61	11.93	+0.69

XDTE vs. YCS - Sharpe Ratio Comparison

The current XDTE Sharpe Ratio is 1.92, which is comparable to the YCS Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of XDTE 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

XDTE vs. YCS - Drawdown Comparison

The maximum XDTE drawdown since its inception was -19.09%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for XDTE and YCS.

Drawdown Indicators

	XDTE	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-19.09%	-49.56%	+30.47%
Max Drawdown (1Y) Largest decline over 1 year	-7.68%	-8.30%	+0.62%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.05%	—
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	-2.52%	-0.14%	-2.38%
Average Drawdown Average peak-to-trough decline	-2.31%	-19.87%	+17.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	2.65%	-0.90%

Volatility

XDTE vs. YCS - Volatility Comparison

Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) has a higher volatility of 4.52% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that XDTE'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.

Volatility by Period

	XDTE	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	2.25%	+2.27%
Volatility (6M) Calculated over the trailing 6-month period	9.12%	12.19%	-3.07%
Volatility (1Y) Calculated over the trailing 1-year period	11.58%	16.93%	-5.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.97%	21.10%	-7.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.97%	18.82%	-4.85%

XDTE vs. YCS - Expense Ratio Comparison

XDTE has a 0.97% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

XDTE vs. YCS - Dividend Comparison

XDTE's dividend yield for the trailing twelve months is around 33.21%, while YCS has not paid dividends to shareholders.

Position	TTM	2025	2024
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	33.21%	39.16%	20.35%
YCS ProShares UltraShort Yen	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XDTE and YCS in my portfolio?

XDTE 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.

Which is riskier, XDTE or YCS?

XDTE has higher volatility (4.52%) compared to YCS (2.25%). In terms of maximum drawdown, XDTE dropped -19.09% vs YCS's -49.56%.

Which ETF is better, XDTE or YCS?

On 1-year performance, YCS leads with 31.27% vs 22.04% for XDTE. On fees, XDTE is cheaper at 0.97% 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.

Which ETF has performed better, XDTE or YCS?

Over the 1-year period, YCS has performed better with a 31.27% return vs 22.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XDTE or YCS?

XDTE is cheaper with a 0.97% expense ratio, compared with 1.00% for YCS.

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

XDTE has the higher dividend yield at 33.21%, compared with 0.00% for YCS.

What is the main difference between XDTE and YCS?

XDTE is categorized as Derivative Income, while YCS is Leveraged Currency. They also come from different issuers: Roundhill and ProShares. Their fees differ too: 0.97% for XDTE and 1.00% for YCS.

Which has better risk-adjusted returns?

XDTE currently has the higher Sharpe Ratio (1.92 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.