XHS vs. YCS
XHS (SPDR S&P Health Care Services ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - XHS is a Health & Biotech Equities fund tracking the S&P Health Care Services Select Industry Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, XHS returned 8.61%/yr vs 13.62%/yr for YCS. At a 0.13 correlation, their price movements are largely independent. XHS charges 0.35%/yr vs 1.00%/yr for YCS.
Performance
XHS vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, XHS achieves a 15.40% return, which is significantly higher than YCS's 9.63% return. Over the past 10 years, XHS has underperformed YCS with an annualized return of 8.61%, while YCS has yielded a comparatively higher 13.62% annualized return.
XHS
- 1D
- 0.88%
- 1M
- 8.42%
- YTD
- 15.40%
- 6M
- 14.24%
- 1Y
- 28.59%
- 3Y*
- 11.29%
- 5Y*
- 1.64%
- 10Y*
- 8.61%
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%
XHS vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XHS SPDR S&P Health Care Services ETF | 15.40% | 18.83% | 1.76% | 5.15% | -19.87% | 9.76% | 33.66% | 18.81% | 1.96% | 17.65% |
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 XHS and YCS is -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2011 | 0.13 |
The correlation between XHS and YCS shifts across timeframes, from -0.16 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XHS vs. YCS — Risk / Return Rank
XHS
YCS
XHS vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Health Care Services ETF (XHS) 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.
| XHS | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.34 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 3.78 | -1.39 |
| Martin ratioReturn relative to average drawdown | 6.63 | 11.93 | -5.30 |
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Drawdowns
XHS vs. YCS - Drawdown Comparison
The maximum XHS drawdown since its inception was -39.32%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for XHS and YCS.
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Drawdown Indicators
| XHS | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.32% | -49.56% | +10.24% |
Max Drawdown (1Y)Largest decline over 1 year | -11.99% | -8.30% | -3.69% |
Max Drawdown (3Y)Largest decline over 3 years | -17.81% | -23.05% | +5.24% |
Max Drawdown (5Y)Largest decline over 5 years | -32.62% | -27.32% | -5.30% |
Max Drawdown (10Y)Largest decline over 10 years | -39.32% | -27.32% | -12.00% |
Current DrawdownCurrent decline from peak | 0.00% | -0.14% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -10.16% | -19.87% | +9.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.32% | 2.65% | +1.67% |
Volatility
XHS vs. YCS - Volatility Comparison
SPDR S&P Health Care Services ETF (XHS) has a higher volatility of 4.47% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that XHS'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
| XHS | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.47% | 2.25% | +2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 12.25% | 12.19% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.92% | 16.93% | +0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.13% | 21.10% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.40% | 18.82% | +3.58% |
XHS vs. YCS - Expense Ratio Comparison
XHS has a 0.35% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
XHS vs. YCS - Dividend Comparison
XHS's dividend yield for the trailing twelve months is around 0.22%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XHS SPDR S&P Health Care Services ETF | 0.22% | 0.27% | 0.38% | 0.23% | 0.19% | 0.20% | 0.23% | 2.37% | 0.34% | 0.22% | 0.28% | 0.93% |
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
XHS and YCS have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XHS has higher volatility (4.47%) compared to YCS (2.25%). In terms of maximum drawdown, XHS dropped -39.32% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.62% vs 8.61% for XHS. On fees, XHS is cheaper at 0.35% 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 8.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XHS is cheaper with a 0.35% expense ratio, compared with 1.00% for YCS.
XHS has the higher dividend yield at 0.22%, compared with 0.00% for YCS.
XHS is categorized as Health & Biotech Equities, while YCS is Leveraged Currency. XHS tracks S&P Health Care Services Select Industry Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.35% for XHS and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.86 vs 1.60), 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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