YCL vs. FOXY

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares Ultra Yen (YCL) and Simplify Currency Strategy ETF (FOXY).

YCL and FOXY 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. FOXY is an actively managed fund by Simplify. It was launched on Feb 3, 2025.

Performance

YCL vs. FOXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Yen (YCL) and Simplify Currency Strategy ETF (FOXY). The values are adjusted to include any dividend payments, if applicable.

YCL vs. FOXY - Yearly Performance Comparison

	2026 (YTD)	2025
YCL ProShares Ultra Yen	-3.59%	-8.67%
FOXY Simplify Currency Strategy ETF	9.85%	14.75%

Returns By Period

In the year-to-date period, YCL achieves a -3.59% return, which is significantly lower than FOXY's 9.85% 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%

FOXY

• 1D: -0.78%
• 1M: -0.15%
• YTD: 9.85%
• 6M: 9.95%
• 1Y: 15.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YCL vs. FOXY - Expense Ratio Comparison

YCL has a 0.95% expense ratio, which is higher than FOXY's 0.81% expense ratio.

YCL

ProShares Ultra Yen

FOXY

Simplify Currency Strategy ETF

Return for Risk

YCL vs. FOXY — Risk / Return Rank

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

YCL

YCL Risk / Return Rank: 2
YCL Sharpe Ratio Rank: 1
YCL Sortino Ratio Rank: 1
YCL Omega Ratio Rank: 2
YCL Calmar Ratio Rank: 3
YCL Martin Ratio Rank: 4

FOXY

FOXY Risk / Return Rank: 53
FOXY Sharpe Ratio Rank: 56
FOXY Sortino Ratio Rank: 50
FOXY Omega Ratio Rank: 60
FOXY Calmar Ratio Rank: 51
FOXY Martin Ratio Rank: 50

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.

YCL vs. FOXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Yen (YCL) and Simplify Currency Strategy ETF (FOXY). 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	FOXY	Difference
Sharpe ratio Return per unit of total volatility	-0.80	0.99	-1.79
Sortino ratio Return per unit of downside risk	-1.09	1.32	-2.41
Omega ratio Gain probability vs. loss probability	0.88	1.22	-0.34
Calmar ratio Return relative to maximum drawdown	-0.59	1.30	-1.89
Martin ratio Return relative to average drawdown	-0.96	4.75	-5.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

YCL vs. FOXY - Sharpe Ratio Comparison

The current YCL Sharpe Ratio is -0.80, which is lower than the FOXY Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of YCL and FOXY, 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

	YCL	FOXY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.80	0.99	-1.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.92	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.50	1.44	-1.94

Correlation

The correlation between YCL and FOXY is -0.08. 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. FOXY - Dividend Comparison

YCL has not paid dividends to shareholders, while FOXY's dividend yield for the trailing twelve months is around 6.63%.

	TTM	2025
YCL ProShares Ultra Yen	0.00%	0.00%
FOXY Simplify Currency Strategy ETF	6.63%	5.51%

Drawdowns

YCL vs. FOXY - Drawdown Comparison

The maximum YCL drawdown since its inception was -88.10%, which is greater than FOXY's maximum drawdown of -13.09%. Use the drawdown chart below to compare losses from any high point for YCL and FOXY.

Drawdown Indicators

	YCL	FOXY	Difference
Max Drawdown Largest peak-to-trough decline	-88.10%	-13.09%	-75.01%
Max Drawdown (1Y) Largest decline over 1 year	-27.44%	-13.09%	-14.35%
Max Drawdown (5Y) Largest decline over 5 years	-66.93%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-76.61%	—	—
Current Drawdown Current decline from peak	-87.87%	-2.82%	-85.05%
Average Drawdown Average peak-to-trough decline	-52.76%	-2.08%	-50.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.82%	3.59%	+13.23%

Volatility

YCL vs. FOXY - Volatility Comparison

ProShares Ultra Yen (YCL) has a higher volatility of 4.83% compared to Simplify Currency Strategy ETF (FOXY) at 2.56%. This indicates that YCL's price experiences larger fluctuations and is considered to be riskier than FOXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YCL	FOXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	2.56%	+2.27%
Volatility (6M) Calculated over the trailing 6-month period	12.21%	7.08%	+5.13%
Volatility (1Y) Calculated over the trailing 1-year period	20.25%	15.95%	+4.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.42%	15.60%	+4.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.85%	15.60%	+3.25%