YCL vs. GLDI
YCL (ProShares Ultra Yen) and GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) are both exchange-traded funds - YCL is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%), while GLDI is a Gold fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index. Both are passively managed. Over the past 10 years, YCL returned -13.42%/yr vs 7.56%/yr for GLDI. Their 0.34 correlation means their historical movements had little consistent relationship. YCL charges 0.95%/yr vs 0.65%/yr for GLDI.
Performance
YCL vs. GLDI - Performance Comparison
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Returns By Period
In the year-to-date period, YCL achieves a -5.82% return, which is significantly lower than GLDI's -4.75% return. Over the past 10 years, YCL has underperformed GLDI with an annualized return of -13.42%, while GLDI has yielded a comparatively higher 7.56% annualized return.
YCL
- 1D
- 0.22%
- 1M
- 1.24%
- 6M
- -7.85%
- YTD
- -5.82%
- 1Y
- -18.77%
- 3Y*
- -13.30%
- 5Y*
- -19.30%
- 10Y*
- -13.42%
- ALL TIME*
- -9.77%
GLDI
- 1D
- -0.61%
- 1M
- -0.08%
- 6M
- -7.85%
- YTD
- -4.75%
- 1Y
- 11.07%
- 3Y*
- 16.54%
- 5Y*
- 10.37%
- 10Y*
- 7.56%
- ALL TIME*
- 3.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.09M | $8.22M | $7.58M | |
| $965.32K | $858.06K | $714.31K |
YCL vs. GLDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YCL ProShares Ultra Yen | -5.82% | -6.34% | -25.97% | -20.46% | -26.92% | -20.94% | 7.16% | -2.99% | 0.17% | 3.48% |
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | -4.75% | 34.25% | 17.76% | 8.93% | -1.11% | -3.42% | 23.50% | 14.40% | -0.54% | 8.94% |
Correlation
The correlation between YCL and GLDI is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.23 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.36 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.35 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2013 | 0.34 |
The correlation between YCL and GLDI shifts across timeframes, from 0.23 (1 year) to 0.36 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
YCL vs. GLDI — Risk / Return Rank
YCL
GLDI
YCL vs. GLDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Yen (YCL) and UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI). 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 | GLDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.68 | ||
| Sortino ratioReturn per unit of downside risk | -2.44 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.16 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.65 | 0.81 | -1.46 |
| Martin ratioReturn relative to average drawdown | -1.03 | 2.04 | -3.08 |
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Drawdowns
YCL vs. GLDI - Drawdown Comparison
The maximum YCL drawdown since its inception was -88.74%, which is greater than GLDI's maximum drawdown of -32.26%. Use the drawdown chart below to compare losses from any high point for YCL and GLDI.
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Drawdown Indicators
| YCL | GLDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.74% | -32.26% | -56.48% |
Max Drawdown (1Y)Largest decline over 1 year | -23.28% | -15.81% | -7.47% |
Max Drawdown (3Y)Largest decline over 3 years | -39.44% | -15.81% | -23.63% |
Max Drawdown (5Y)Largest decline over 5 years | -67.75% | -15.81% | -51.94% |
Max Drawdown (10Y)Largest decline over 10 years | -77.87% | -15.81% | -62.06% |
Current DrawdownCurrent decline from peak | -88.15% | -13.54% | -74.61% |
Average DrawdownAverage peak-to-trough decline | -53.42% | -13.99% | -39.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.60% | 6.26% | +8.34% |
Volatility
YCL vs. GLDI - Volatility Comparison
ProShares Ultra Yen (YCL) has a higher volatility of 5.60% compared to UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) at 5.26%. This indicates that YCL's price experiences larger fluctuations and is considered to be riskier than GLDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YCL | GLDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 5.26% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 11.00% | 15.59% | -4.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.66% | 16.78% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.60% | 11.85% | +8.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.20% | 11.65% | +6.55% |
YCL vs. GLDI - Expense Ratio Comparison
YCL has a 0.95% expense ratio, which is higher than GLDI's 0.65% expense ratio.
Dividends
YCL vs. GLDI - Dividend Comparison
YCL has not paid dividends to shareholders, while GLDI's dividend yield for the trailing twelve months is around 26.14%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | 26.14% | 16.15% | 10.45% | 10.02% | 13.73% | 10.65% | 14.25% | 7.25% | 5.33% | 7.77% | 17.26% | 10.07% |
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% |
Frequently Asked Questions
YCL and GLDI have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCL has higher volatility (5.60%) compared to GLDI (5.26%). In terms of maximum drawdown, YCL dropped -88.74% vs GLDI's -32.26%.
On 10-year performance, GLDI leads with 7.56% vs -13.42% for YCL. On fees, GLDI is cheaper at 0.65% per year. On volatility, GLDI has been the lower-risk option at 5.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLDI has performed better with a 7.56% return vs -13.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDI is cheaper with a 0.65% expense ratio, compared with 0.95% for YCL.
GLDI has the higher dividend yield at 26.14%, compared with 0.00% for YCL.
YCL is categorized as Leveraged Currency, while GLDI is Gold. YCL tracks USD/JPY Exchange Rate (-200%), while GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index. They also come from different issuers: ProShares and UBS. Their fees differ too: 0.95% for YCL and 0.65% for GLDI.
GLDI currently has the higher Sharpe Ratio (0.76 vs -0.91), 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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