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XLV vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLV vs. YCS

Last updated Jun 7, 2026

XLV (State Street Health Care Select Sector SPDR ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - XLV is a Health & Biotech Equities fund tracking the Health Care 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, XLV returned 9.61%/yr vs 12.25%/yr for YCS. At a 0.13 correlation, their price movements are largely independent. XLV charges 0.08%/yr vs 1.00%/yr for YCS.

Performance

XLV vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Health Care Select Sector SPDR ETF (XLV) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XLV achieves a -0.75% return, which is significantly lower than YCS's 7.54% return. Over the past 10 years, XLV has underperformed YCS with an annualized return of 9.61%, while YCS has yielded a comparatively higher 12.25% annualized return.

XLV

1D
0.61%
1M
6.63%
YTD
-0.75%
6M
0.67%
1Y
15.89%
3Y*
7.44%
5Y*
6.32%
10Y*
9.61%

YCS

1D
0.35%
1M
5.12%
YTD
7.54%
6M
10.01%
1Y
31.94%
3Y*
20.09%
5Y*
23.63%
10Y*
12.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLV vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XLV
State Street Health Care Select Sector SPDR ETF		-0.75%14.50%2.47%2.07%-2.08%26.04%13.30%20.45%6.28%21.77%
YCS
ProShares UltraShort Yen		7.54%9.04%35.41%28.70%29.09%22.38%-11.18%3.37%-1.49%-6.57%

Correlation

The correlation between XLV and YCS is -0.27, 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

-0.27

Correlation (3Y)
Calculated over the trailing 3-year period

-0.10

Correlation (5Y)
Calculated over the trailing 5-year period

-0.09

Correlation (10Y)
Calculated over the trailing 10-year period

0.04

Correlation (All Time)
Calculated using the full available price history since Nov 26, 2008

0.13

The correlation between XLV and YCS shifts across timeframes, from -0.27 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

State Street Health Care Select Sector SPDR ETF

ProShares UltraShort Yen

Often compared with XLV:
XLV vs. VHTXLV vs. SPYXLV vs. XLFXLV vs. IXJXLV vs. VOOXLV vs. FHLCXLV vs. IHI
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

XLV vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLV
XLV Risk / Return Rank: 3232
Overall Rank
XLV Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
XLV Sortino Ratio Rank: 3535
Sortino Ratio Rank
XLV Omega Ratio Rank: 3131
Omega Ratio Rank
XLV Calmar Ratio Rank: 3434
Calmar Ratio Rank
XLV Martin Ratio Rank: 2828
Martin Ratio Rank
YCS
YCS Risk / Return Rank: 6767
Overall Rank
YCS Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
YCS Sortino Ratio Rank: 5656
Sortino Ratio Rank
YCS Omega Ratio Rank: 6363
Omega Ratio Rank
YCS Calmar Ratio Rank: 8282
Calmar Ratio Rank
YCS Martin Ratio Rank: 7272
Martin Ratio Rank
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.

XLV vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Health Care Select Sector SPDR ETF (XLV) 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.

XLVYCSDifference
Sharpe ratioReturn per unit of total volatility
1.14
2.00

-0.86

Sortino ratioReturn per unit of downside risk
1.80
2.54

-0.73

Omega ratioGain probability vs. loss probability

1.20

1.37

-0.17

Calmar ratioReturn relative to maximum drawdown

1.63

4.11

-2.48

Martin ratioReturn relative to average drawdown

3.92

12.84

-8.92

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLV vs. YCS - Sharpe Ratio Comparison

The current XLV Sharpe Ratio is 1.14, which is lower than the YCS Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of XLV 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.

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Sharpe Ratios by Period

XLVYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.14

2.00

-0.86

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.43

1.13

-0.70

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.58

0.65

-0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.46

0.33

+0.13

Drawdowns

XLV vs. YCS - Drawdown Comparison

The maximum XLV drawdown since its inception was -39.17%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for XLV and YCS.

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Drawdown Indicators

XLVYCSDifference

Max Drawdown

Largest peak-to-trough decline

-39.17%

-49.56%

+10.39%

Max Drawdown (1Y)

Largest decline over 1 year

-10.47%

-8.30%

-2.17%

Max Drawdown (3Y)

Largest decline over 3 years

-17.11%

-23.05%

+5.94%

Max Drawdown (5Y)

Largest decline over 5 years

-17.11%

-27.32%

+10.21%

Max Drawdown (10Y)

Largest decline over 10 years

-28.40%

-27.32%

-1.08%

Current Drawdown

Current decline from peak

-4.10%

0.00%

-4.10%

Average Drawdown

Average peak-to-trough decline

-7.12%

-19.92%

+12.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.34%

2.65%

+1.69%

Volatility

XLV vs. YCS - Volatility Comparison

State Street Health Care Select Sector SPDR ETF (XLV) has a higher volatility of 5.05% compared to ProShares UltraShort Yen (YCS) at 1.56%. This indicates that XLV'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

XLVYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.05%

1.56%

+3.49%

Volatility (6M)

Calculated over the trailing 6-month period

10.68%

12.27%

-1.59%

Volatility (1Y)

Calculated over the trailing 1-year period

14.98%

17.09%

-2.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.75%

21.08%

-6.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.57%

19.00%

-2.43%

XLV vs. YCS - Expense Ratio Comparison

XLV has a 0.08% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

XLV vs. YCS - Dividend Comparison

XLV's dividend yield for the trailing twelve months is around 1.64%, while YCS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
XLV
State Street Health Care Select Sector SPDR ETF		1.64%1.60%1.67%1.59%1.47%1.33%1.49%2.17%1.57%1.47%1.60%1.43%
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

XLV and YCS have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XLV has higher volatility (5.05%) compared to YCS (1.56%). In terms of maximum drawdown, XLV dropped -39.17% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.25% vs 9.61% for XLV. On fees, XLV is cheaper at 0.08% per year. On volatility, YCS has been the lower-risk option at 1.56%. 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 12.25% return vs 9.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XLV is cheaper with a 0.08% expense ratio, compared with 1.00% for YCS.

XLV has the higher dividend yield at 1.64%, compared with 0.00% for YCS.

XLV is categorized as Health & Biotech Equities, while YCS is Leveraged Currency. XLV tracks Health Care 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 XLV and 1.00% for YCS.

YCS currently has the higher Sharpe Ratio (2.00 vs 1.14), 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.

Portfolio Optimizer

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