YCL vs. EWJ
Compare and contrast key facts about ProShares Ultra Yen (YCL) and iShares MSCI Japan ETF (EWJ).
YCL and EWJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. YCL is a passively managed fund by ProShares that tracks the performance of the USD/JPY Exchange Rate (-200%). It was launched on Nov 24, 2008. EWJ is a passively managed fund by iShares that tracks the performance of the MSCI Japan Index. It was launched on Mar 12, 1996. Both YCL and EWJ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
YCL vs. EWJ - Performance Comparison
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YCL vs. EWJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YCL ProShares Ultra Yen | -3.59% | -6.34% | -25.97% | -20.46% | -26.92% | -20.94% | 7.16% | -2.99% | 0.17% | 3.48% |
EWJ iShares MSCI Japan ETF | 4.58% | 25.84% | 7.03% | 20.29% | -17.72% | 1.16% | 15.40% | 19.34% | -14.10% | 24.27% |
Returns By Period
In the year-to-date period, YCL achieves a -3.59% return, which is significantly lower than EWJ's 4.58% return. Over the past 10 years, YCL has underperformed EWJ with an annualized return of -11.45%, while EWJ has yielded a comparatively higher 8.78% annualized return.
YCL
- 1D
- 1.08%
- 1M
- -3.33%
- YTD
- -3.59%
- 6M
- -15.53%
- 1Y
- -16.05%
- 3Y*
- -17.74%
- 5Y*
- -18.74%
- 10Y*
- -11.45%
EWJ
- 1D
- 3.58%
- 1M
- -8.59%
- YTD
- 4.58%
- 6M
- 9.21%
- 1Y
- 28.81%
- 3Y*
- 16.27%
- 5Y*
- 6.62%
- 10Y*
- 8.78%
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YCL vs. EWJ - Expense Ratio Comparison
YCL has a 0.95% expense ratio, which is higher than EWJ's 0.49% expense ratio.
Return for Risk
YCL vs. EWJ — Risk / Return Rank
YCL
EWJ
YCL vs. EWJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Yen (YCL) and iShares MSCI Japan ETF (EWJ). 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.
| YCL | EWJ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.80 | 1.32 | -2.12 |
Sortino ratioReturn per unit of downside risk | -1.09 | 1.92 | -3.00 |
Omega ratioGain probability vs. loss probability | 0.88 | 1.26 | -0.38 |
Calmar ratioReturn relative to maximum drawdown | -0.59 | 2.03 | -2.62 |
Martin ratioReturn relative to average drawdown | -0.96 | 7.50 | -8.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| YCL | EWJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.80 | 1.32 | -2.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.92 | 0.37 | -1.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.61 | 0.51 | -1.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.50 | 0.10 | -0.60 |
Correlation
The correlation between YCL and EWJ is -0.03. 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
YCL vs. EWJ - Dividend Comparison
YCL has not paid dividends to shareholders, while EWJ's dividend yield for the trailing twelve months is around 4.33%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
YCL ProShares Ultra 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% |
EWJ iShares MSCI Japan ETF | 4.33% | 4.52% | 2.34% | 2.03% | 1.23% | 2.08% | 1.04% | 2.03% | 1.71% | 1.25% | 1.95% | 1.27% |
Drawdowns
YCL vs. EWJ - Drawdown Comparison
The maximum YCL drawdown since its inception was -88.10%, which is greater than EWJ's maximum drawdown of -60.93%. Use the drawdown chart below to compare losses from any high point for YCL and EWJ.
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Drawdown Indicators
| YCL | EWJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.10% | -60.93% | -27.17% |
Max Drawdown (1Y)Largest decline over 1 year | -27.44% | -13.59% | -13.85% |
Max Drawdown (5Y)Largest decline over 5 years | -66.93% | -33.14% | -33.79% |
Max Drawdown (10Y)Largest decline over 10 years | -76.61% | -33.14% | -43.47% |
Current DrawdownCurrent decline from peak | -87.87% | -10.14% | -77.73% |
Average DrawdownAverage peak-to-trough decline | -52.76% | -21.84% | -30.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.82% | 3.68% | +13.14% |
Volatility
YCL vs. EWJ - Volatility Comparison
The current volatility for ProShares Ultra Yen (YCL) is 4.83%, while iShares MSCI Japan ETF (EWJ) has a volatility of 9.41%. This indicates that YCL experiences smaller price fluctuations and is considered to be less risky than EWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YCL | EWJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.83% | 9.41% | -4.58% |
Volatility (6M)Calculated over the trailing 6-month period | 12.21% | 14.87% | -2.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.25% | 21.87% | -1.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.42% | 18.10% | +2.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.85% | 17.31% | +1.54% |