XTAP vs. YCS

Last updated Apr 2, 2026

Compare and contrast key facts about Innovator U.S. Equity Accelerated Plus ETF (XTAP) and ProShares UltraShort Yen (YCS).

XTAP and YCS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XTAP is an actively managed fund by Innovator. It was launched on Apr 1, 2021. YCS is a passively managed fund by ProShares that tracks the performance of the USD/JPY Exchange Rate (-200%). It was launched on Nov 25, 2008.

Performance

XTAP vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Accelerated Plus ETF (XTAP) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

XTAP vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XTAP Innovator U.S. Equity Accelerated Plus ETF	2.38%	17.58%	14.26%	23.46%	-14.68%	11.87%
YCS ProShares UltraShort Yen	4.36%	9.04%	35.41%	28.70%	29.09%	6.99%

Returns By Period

In the year-to-date period, XTAP achieves a 2.38% return, which is significantly lower than YCS's 4.36% return.

XTAP

• 1D: 0.70%
• 1M: 1.34%
• YTD: 2.38%
• 6M: 4.98%
• 1Y: 16.56%
• 3Y*: 16.49%
• 5Y*: —
• 10Y*: —

YCS

• 1D: 0.26%
• 1M: 2.19%
• YTD: 4.36%
• 6M: 20.43%
• 1Y: 20.40%
• 3Y*: 23.79%
• 5Y*: 22.33%
• 10Y*: 10.93%

*Multi-year figures are annualized to reflect compound growth (CAGR)

XTAP vs. YCS - Expense Ratio Comparison

XTAP has a 0.79% expense ratio, which is lower than YCS's 1.00% expense ratio.

YCS

ProShares UltraShort Yen

XTAP

Innovator U.S. Equity Accelerated Plus ETF

Return for Risk

XTAP vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XTAP

XTAP Risk / Return Rank: 72
XTAP Sharpe Ratio Rank: 63
XTAP Sortino Ratio Rank: 68
XTAP Omega Ratio Rank: 94
XTAP Calmar Ratio Rank: 51
XTAP Martin Ratio Rank: 82

YCS

YCS Risk / Return Rank: 51
YCS Sharpe Ratio Rank: 52
YCS Sortino Ratio Rank: 50
YCS Omega Ratio Rank: 46
YCS Calmar Ratio Rank: 61
YCS Martin Ratio Rank: 45

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.

XTAP vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated Plus ETF (XTAP) 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.

	XTAP	YCS	Difference
Sharpe ratio Return per unit of total volatility	1.16	0.98	+0.18
Sortino ratio Return per unit of downside risk	1.79	1.40	+0.39
Omega ratio Gain probability vs. loss probability	1.45	1.19	+0.26
Calmar ratio Return relative to maximum drawdown	1.45	1.65	-0.20
Martin ratio Return relative to average drawdown	9.90	4.48	+5.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XTAP vs. YCS - Sharpe Ratio Comparison

The current XTAP Sharpe Ratio is 1.16, which is comparable to the YCS Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of XTAP and YCS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XTAP	YCS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	0.98	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.07	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.33	+0.37

Correlation

The correlation between XTAP and YCS is -0.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

XTAP vs. YCS - Dividend Comparison

Neither XTAP nor YCS has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

XTAP vs. YCS - Drawdown Comparison

The maximum XTAP drawdown since its inception was -22.13%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for XTAP and YCS.

Drawdown Indicators

	XTAP	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-22.13%	-49.56%	+27.43%
Max Drawdown (1Y) Largest decline over 1 year	-11.83%	-12.07%	+0.24%
Max Drawdown (5Y) Largest decline over 5 years	—	-27.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.32%	—
Current Drawdown Current decline from peak	0.00%	-1.61%	+1.61%
Average Drawdown Average peak-to-trough decline	-3.57%	-20.11%	+16.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	4.45%	-2.72%

Volatility

XTAP vs. YCS - Volatility Comparison

The current volatility for Innovator U.S. Equity Accelerated Plus ETF (XTAP) is 0.99%, while ProShares UltraShort Yen (YCS) has a volatility of 4.81%. This indicates that XTAP 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.

Volatility by Period

	XTAP	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.99%	4.81%	-3.82%
Volatility (6M) Calculated over the trailing 6-month period	2.61%	12.29%	-9.68%
Volatility (1Y) Calculated over the trailing 1-year period	14.34%	20.83%	-6.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.60%	20.93%	-6.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.60%	19.23%	-4.63%