XSVM vs. YCS
XSVM (Invesco S&P SmallCap Value with Momentum ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - XSVM is a Momentum fund tracking the S&P SmallCap 600 High Momentum Value Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, XSVM returned 13.24%/yr vs 13.63%/yr for YCS. At a 0.17 correlation, their price movements are largely independent. XSVM charges 0.37%/yr vs 1.00%/yr for YCS.
Performance
XSVM vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, XSVM achieves a 20.07% return, which is significantly higher than YCS's 9.78% return. Both investments have delivered pretty close results over the past 10 years, with XSVM having a 13.24% annualized return and YCS not far ahead at 13.63%.
XSVM
- 1D
- -0.05%
- 1M
- 2.87%
- YTD
- 20.07%
- 6M
- 17.31%
- 1Y
- 39.24%
- 3Y*
- 17.36%
- 5Y*
- 8.01%
- 10Y*
- 13.24%
YCS
- 1D
- 0.40%
- 1M
- 3.71%
- YTD
- 9.78%
- 6M
- 9.63%
- 1Y
- 31.36%
- 3Y*
- 18.43%
- 5Y*
- 23.50%
- 10Y*
- 13.63%
XSVM vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSVM Invesco S&P SmallCap Value with Momentum ETF | 20.07% | 7.47% | 2.30% | 20.20% | -13.63% | 56.36% | 5.08% | 30.01% | -12.33% | 3.62% |
YCS ProShares UltraShort Yen | 9.78% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between XSVM 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 | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | 0.17 |
The correlation between XSVM and YCS shifts across timeframes, from -0.16 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XSVM vs. YCS — Risk / Return Rank
XSVM
YCS
XSVM vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Value with Momentum ETF (XSVM) 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.
| XSVM | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.35 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.91 | 3.79 | +0.12 |
| Martin ratioReturn relative to average drawdown | 12.10 | 11.86 | +0.24 |
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Drawdowns
XSVM vs. YCS - Drawdown Comparison
The maximum XSVM drawdown since its inception was -62.57%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for XSVM and YCS.
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Drawdown Indicators
| XSVM | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.57% | -49.56% | -13.01% |
Max Drawdown (1Y)Largest decline over 1 year | -10.08% | -8.30% | -1.78% |
Max Drawdown (3Y)Largest decline over 3 years | -26.21% | -23.05% | -3.16% |
Max Drawdown (5Y)Largest decline over 5 years | -26.21% | -27.32% | +1.11% |
Max Drawdown (10Y)Largest decline over 10 years | -49.02% | -27.32% | -21.70% |
Current DrawdownCurrent decline from peak | -1.49% | 0.00% | -1.49% |
Average DrawdownAverage peak-to-trough decline | -11.54% | -19.88% | +8.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 2.65% | +0.60% |
Volatility
XSVM vs. YCS - Volatility Comparison
Invesco S&P SmallCap Value with Momentum ETF (XSVM) has a higher volatility of 4.60% compared to ProShares UltraShort Yen (YCS) at 2.22%. This indicates that XSVM'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
| XSVM | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 2.22% | +2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 12.27% | 12.19% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.57% | 16.96% | +1.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.55% | 21.10% | +1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.09% | 18.96% | +6.13% |
XSVM vs. YCS - Expense Ratio Comparison
XSVM has a 0.37% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
XSVM vs. YCS - Dividend Comparison
XSVM's dividend yield for the trailing twelve months is around 2.23%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XSVM Invesco S&P SmallCap Value with Momentum ETF | 2.23% | 2.29% | 1.69% | 1.31% | 1.79% | 1.23% | 1.21% | 1.22% | 2.54% | 1.90% | 2.29% | 2.68% |
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
XSVM 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.
XSVM has higher volatility (4.60%) compared to YCS (2.22%). In terms of maximum drawdown, XSVM dropped -62.57% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.63% vs 13.24% for XSVM. On fees, XSVM is cheaper at 0.37% per year. On volatility, YCS has been the lower-risk option at 2.22%. 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 13.63% return vs 13.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XSVM is cheaper with a 0.37% expense ratio, compared with 1.00% for YCS.
XSVM has the higher dividend yield at 2.23%, compared with 0.00% for YCS.
XSVM is categorized as Momentum, while YCS is Leveraged Currency. XSVM tracks S&P SmallCap 600 High Momentum Value Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.37% for XSVM and 1.00% for YCS.
XSVM currently has the higher Sharpe Ratio (2.13 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.
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