XLI vs. YCS
XLI (Industrial Select Sector SPDR Fund) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - XLI is a Industrials Equities fund tracking the Industrial Select Sector Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, XLI returned 14.79%/yr vs 13.18%/yr for YCS. At a 0.19 correlation, their price movements are largely independent. XLI charges 0.08%/yr vs 1.00%/yr for YCS.
Performance
XLI vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, XLI achieves a 17.82% return, which is significantly higher than YCS's 9.35% return. Over the past 10 years, XLI has outperformed YCS with an annualized return of 14.79%, while YCS has yielded a comparatively lower 13.18% annualized return.
XLI
- 1D
- 0.74%
- 1M
- 6.10%
- YTD
- 17.82%
- 6M
- 16.37%
- 1Y
- 29.73%
- 3Y*
- 22.49%
- 5Y*
- 14.10%
- 10Y*
- 14.79%
YCS
- 1D
- 0.88%
- 1M
- 3.30%
- YTD
- 9.35%
- 6M
- 8.16%
- 1Y
- 30.84%
- 3Y*
- 19.46%
- 5Y*
- 23.76%
- 10Y*
- 13.18%
XLI vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLI Industrial Select Sector SPDR Fund | 17.82% | 19.35% | 17.31% | 18.13% | -5.57% | 21.08% | 10.91% | 29.08% | -13.25% | 23.98% |
YCS ProShares UltraShort Yen | 9.35% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between XLI 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 | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | 0.19 |
The correlation between XLI and YCS shifts across timeframes, from -0.16 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XLI vs. YCS — Risk / Return Rank
XLI
YCS
XLI vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Industrial Select Sector SPDR Fund (XLI) 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.
| XLI | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.36 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 3.98 | -1.54 |
| Martin ratioReturn relative to average drawdown | 9.64 | 12.43 | -2.79 |
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Drawdowns
XLI vs. YCS - Drawdown Comparison
The maximum XLI drawdown since its inception was -62.26%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for XLI and YCS.
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Drawdown Indicators
| XLI | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.26% | -49.56% | -12.70% |
Max Drawdown (1Y)Largest decline over 1 year | -12.21% | -8.30% | -3.91% |
Max Drawdown (3Y)Largest decline over 3 years | -18.49% | -23.05% | +4.56% |
Max Drawdown (5Y)Largest decline over 5 years | -21.64% | -27.32% | +5.68% |
Max Drawdown (10Y)Largest decline over 10 years | -42.33% | -27.32% | -15.01% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -9.19% | -19.88% | +10.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 2.65% | +0.44% |
Volatility
XLI vs. YCS - Volatility Comparison
Industrial Select Sector SPDR Fund (XLI) has a higher volatility of 5.80% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that XLI'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
| XLI | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.80% | 2.25% | +3.55% |
Volatility (6M)Calculated over the trailing 6-month period | 13.50% | 12.24% | +1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.22% | 16.99% | -0.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.53% | 21.09% | -3.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.05% | 18.98% | +1.07% |
XLI vs. YCS - Expense Ratio Comparison
XLI has a 0.08% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
XLI vs. YCS - Dividend Comparison
XLI's dividend yield for the trailing twelve months is around 1.37%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XLI Industrial Select Sector SPDR Fund | 1.37% | 1.29% | 1.44% | 1.63% | 1.63% | 1.25% | 1.55% | 1.94% | 2.15% | 1.77% | 2.07% | 2.15% |
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
XLI 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.
XLI has higher volatility (5.80%) compared to YCS (2.25%). In terms of maximum drawdown, XLI dropped -62.26% vs YCS's -49.56%.
On 10-year performance, XLI leads with 14.79% vs 13.18% for YCS. On fees, XLI is cheaper at 0.08% 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, XLI has performed better with a 14.79% return vs 13.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLI is cheaper with a 0.08% expense ratio, compared with 1.00% for YCS.
XLI has the higher dividend yield at 1.37%, compared with 0.00% for YCS.
XLI is categorized as Industrials Equities, while YCS is Leveraged Currency. XLI tracks Industrial Select Sector Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.08% for XLI and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.95 vs 1.84), 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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