YCL vs. FAAR
YCL (ProShares Ultra Yen) and FAAR (First Trust Alternative Absolute Return Strategy ETF) are both exchange-traded funds - YCL is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%), while FAAR is a Commodities fund actively managed by First Trust. YCL is passively managed, while FAAR is actively managed. Over the past 10 years, YCL returned -13.12%/yr vs 4.74%/yr for FAAR. At a correlation of -0.01, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
YCL vs. FAAR - Performance Comparison
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Returns By Period
In the year-to-date period, YCL achieves a -7.31% return, which is significantly lower than FAAR's 20.28% return. Over the past 10 years, YCL has underperformed FAAR with an annualized return of -13.12%, while FAAR has yielded a comparatively higher 4.74% annualized return.
YCL
- 1D
- -0.41%
- 1M
- -2.98%
- YTD
- -7.31%
- 6M
- -6.62%
- 1Y
- -21.97%
- 3Y*
- -14.71%
- 5Y*
- -19.46%
- 10Y*
- -13.12%
FAAR
- 1D
- 0.31%
- 1M
- -4.57%
- YTD
- 20.28%
- 6M
- 20.86%
- 1Y
- 26.92%
- 3Y*
- 10.85%
- 5Y*
- 8.03%
- 10Y*
- 4.74%
YCL vs. FAAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YCL ProShares Ultra Yen | -7.31% | -6.34% | -25.97% | -20.46% | -26.92% | -20.94% | 7.16% | -2.99% | 0.17% | 3.48% |
FAAR First Trust Alternative Absolute Return Strategy ETF | 20.28% | 8.07% | 5.97% | -5.63% | 10.15% | 12.34% | 8.60% | -1.28% | -9.17% | 5.00% |
Correlation
The correlation between YCL and FAAR is -0.18, 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 | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 23, 2016 | -0.01 |
The correlation between YCL and FAAR shifts across timeframes, from -0.18 (1 year) to -0.01 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
YCL vs. FAAR — Risk / Return Rank
YCL
FAAR
YCL vs. FAAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Yen (YCL) and First Trust Alternative Absolute Return Strategy ETF (FAAR). 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.
| YCL | FAAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.41 | ||
| Sortino ratioReturn per unit of downside risk | -5.06 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.34 | -0.58 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 4.72 | -5.67 |
| Martin ratioReturn relative to average drawdown | -1.42 | 14.40 | -15.82 |
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Drawdowns
YCL vs. FAAR - Drawdown Comparison
The maximum YCL drawdown since its inception was -88.33%, which is greater than FAAR's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for YCL and FAAR.
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Drawdown Indicators
| YCL | FAAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.33% | -18.03% | -70.30% |
Max Drawdown (1Y)Largest decline over 1 year | -24.37% | -5.68% | -18.69% |
Max Drawdown (3Y)Largest decline over 3 years | -40.85% | -11.54% | -29.31% |
Max Drawdown (5Y)Largest decline over 5 years | -66.72% | -18.03% | -48.69% |
Max Drawdown (10Y)Largest decline over 10 years | -77.08% | -18.03% | -59.05% |
Current DrawdownCurrent decline from peak | -88.33% | -5.39% | -82.94% |
Average DrawdownAverage peak-to-trough decline | -53.19% | -7.83% | -45.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.23% | 1.87% | +14.36% |
Volatility
YCL vs. FAAR - Volatility Comparison
The current volatility for ProShares Ultra Yen (YCL) is 1.36%, while First Trust Alternative Absolute Return Strategy ETF (FAAR) has a volatility of 2.50%. This indicates that YCL experiences smaller price fluctuations and is considered to be less risky than FAAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YCL | FAAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 2.50% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 11.31% | 9.71% | +1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.47% | 13.36% | +3.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.50% | 12.95% | +7.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.59% | 11.53% | +7.06% |
YCL vs. FAAR - Expense Ratio Comparison
Both YCL and FAAR have an expense ratio of 0.95%.
Dividends
YCL vs. FAAR - Dividend Comparison
YCL has not paid dividends to shareholders, while FAAR's dividend yield for the trailing twelve months is around 9.57%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FAAR First Trust Alternative Absolute Return Strategy ETF | 9.57% | 11.63% | 3.45% | 3.20% | 5.82% | 6.49% | 3.05% | 1.02% | 0.58% | 2.83% |
YCL ProShares Ultra Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
YCL and FAAR have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAAR has higher volatility (2.50%) compared to YCL (1.36%). In terms of maximum drawdown, YCL dropped -88.33% vs FAAR's -18.03%.
On 10-year performance, FAAR leads with 4.74% vs -13.12% for YCL. Both ETFs have the same 0.95% expense ratio. On volatility, YCL has been the lower-risk option at 1.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FAAR has performed better with a 4.74% return vs -13.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YCL and FAAR have the same expense ratio: 0.95% per year.
FAAR has the higher dividend yield at 9.57%, compared with 0.00% for YCL.
YCL is categorized as Leveraged Currency, while FAAR is Commodities. They also come from different issuers: ProShares and First Trust.
FAAR currently has the higher Sharpe Ratio (2.01 vs -1.41), 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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