XLU vs. YCS
XLU (State Street Utilities Select Sector SPDR ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - XLU is a Utilities Equities fund tracking the Utilities 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, XLU returned 9.15%/yr vs 13.21%/yr for YCS. Their 0.01 correlation means their historical movements had little consistent relationship. XLU charges 0.08%/yr vs 1.00%/yr for YCS.
Performance
XLU vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, XLU achieves a 5.31% return, which is significantly higher than YCS's 4.11% return. Over the past 10 years, XLU has underperformed YCS with an annualized return of 9.15%, while YCS has yielded a comparatively higher 13.21% annualized return.
XLU
- 1D
- 0.02%
- 1M
- -3.06%
- 6M
- 5.48%
- YTD
- 5.31%
- 1Y
- 6.29%
- 3Y*
- 14.91%
- 5Y*
- 9.09%
- 10Y*
- 9.15%
- ALL TIME*
- 7.66%
YCS
- 1D
- -2.97%
- 1M
- -5.17%
- 6M
- 5.08%
- YTD
- 4.11%
- 1Y
- 21.34%
- 3Y*
- 16.96%
- 5Y*
- 22.90%
- 10Y*
- 13.21%
- ALL TIME*
- 6.26%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $861.26M | $820.83M | $918.15M | |
| $2.37M | $2.29M | $1.56M |
XLU vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLU State Street Utilities Select Sector SPDR ETF | 5.31% | 16.03% | 23.31% | -7.18% | 1.44% | 17.70% | 0.51% | 25.93% | 3.94% | 12.05% |
YCS ProShares UltraShort Yen | 4.11% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between XLU and YCS is -0.12, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.12 |
Correlation (3Y) Balances recent behavior with more history. | -0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | 0.01 |
The correlation between XLU and YCS shifts across timeframes, from -0.16 (3 years) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XLU vs. YCS — Risk / Return Rank
XLU
YCS
XLU vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Utilities Select Sector SPDR ETF (XLU) 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.
| XLU | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.26 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.69 | 2.53 | -1.84 |
| Martin ratioReturn relative to average drawdown | 1.40 | 9.53 | -8.13 |
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Drawdowns
XLU vs. YCS - Drawdown Comparison
The maximum XLU drawdown since its inception was -51.98%, roughly equal to the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for XLU and YCS.
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Drawdown Indicators
| XLU | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.98% | -49.56% | -2.42% |
Max Drawdown (1Y)Largest decline over 1 year | -9.18% | -8.48% | -0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -13.15% | -23.05% | +9.90% |
Max Drawdown (5Y)Largest decline over 5 years | -25.26% | -27.32% | +2.06% |
Max Drawdown (10Y)Largest decline over 10 years | -36.07% | -27.32% | -8.75% |
Current DrawdownCurrent decline from peak | -5.81% | -8.48% | +2.67% |
Average DrawdownAverage peak-to-trough decline | -10.19% | -19.75% | +9.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.49% | 2.24% | +2.25% |
Volatility
XLU vs. YCS - Volatility Comparison
The current volatility for State Street Utilities Select Sector SPDR ETF (XLU) is 3.95%, while ProShares UltraShort Yen (YCS) has a volatility of 5.88%. This indicates that XLU 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
| XLU | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.95% | 5.88% | -1.93% |
Volatility (6M)Calculated over the trailing 6-month period | 12.01% | 11.84% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.02% | 16.43% | -1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.34% | 21.21% | -3.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.30% | 18.61% | +0.69% |
XLU vs. YCS - Expense Ratio Comparison
XLU has a 0.08% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
XLU vs. YCS - Dividend Comparison
XLU's dividend yield for the trailing twelve months is around 2.69%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XLU State Street Utilities Select Sector SPDR ETF | 2.69% | 2.71% | 2.96% | 3.39% | 2.92% | 2.79% | 3.14% | 2.95% | 3.33% | 3.33% | 3.41% | 3.67% |
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
XLU and YCS have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCS has higher volatility (5.88%) compared to XLU (3.95%). In terms of maximum drawdown, XLU dropped -51.98% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.21% vs 9.15% for XLU. On fees, XLU is cheaper at 0.08% per year. On volatility, XLU has been the lower-risk option at 3.95%. 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 13.21% return vs 9.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLU is cheaper with a 0.08% expense ratio, compared with 1.00% for YCS.
XLU has the higher dividend yield at 2.69%, compared with 0.00% for YCS.
XLU is categorized as Utilities Equities, while YCS is Leveraged Currency. XLU tracks Utilities 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 XLU and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.31 vs 0.42), 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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