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YCL vs. GLDI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

YCL vs. GLDI

Last updated Jun 3, 2026

YCL (ProShares Ultra Yen) and GLDI (Credit Suisse X-Links Gold Shares Covered Call ETN) are both exchange-traded funds - YCL is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%), while GLDI is a Precious Metals fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index. Both are passively managed. Over the past 10 years, YCL returned -12.51%/yr vs 9.07%/yr for GLDI. At a 0.34 correlation, their price movements are largely independent. YCL charges 0.95%/yr vs 0.65%/yr for GLDI.

Performance

YCL vs. GLDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Yen (YCL) and Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, YCL achieves a -5.83% return, which is significantly lower than GLDI's 2.89% return. Over the past 10 years, YCL has underperformed GLDI with an annualized return of -12.51%, while GLDI has yielded a comparatively higher 9.07% annualized return.

YCL

1D
-0.34%
1M
-3.82%
YTD
-5.83%
6M
-7.72%
1Y
-24.77%
3Y*
-15.08%
5Y*
-19.19%
10Y*
-12.51%

GLDI

1D
0.14%
1M
0.01%
YTD
2.89%
6M
5.39%
1Y
21.67%
3Y*
19.87%
5Y*
11.54%
10Y*
9.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

YCL vs. GLDI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
YCL
ProShares Ultra Yen		-5.83%-6.34%-25.97%-20.46%-26.92%-20.94%7.16%-2.99%0.17%3.48%
GLDI
Credit Suisse X-Links Gold Shares Covered Call ETN		2.89%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 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.25

Correlation (3Y)
Calculated over the trailing 3-year period

0.26

Correlation (5Y)
Calculated over the trailing 5-year period

0.36

Correlation (10Y)
Calculated over the trailing 10-year period

0.36

Correlation (All Time)
Calculated using the full available price history since Jan 30, 2013

0.34

The correlation between YCL and GLDI shifts across timeframes, from 0.25 (1 year) to 0.36 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares Ultra Yen

Credit Suisse X-Links Gold Shares Covered Call ETN

Often compared with YCL:
YCL vs. FXYYCL vs. YCSYCL vs. EUOYCL vs. BNKUYCL vs. TTTYCL vs. EWJYCL vs. SLV
Often compared with GLDI:
GLDI vs. IGLDGLDI vs. GLDGLDI vs. SCHDGLDI vs. GLDYGLDI vs. GLDW.LGLDI vs. BGLDGLDI vs. JEPQ

Return for Risk

YCL vs. GLDI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
YCL
YCL Risk / Return Rank: 11
Overall Rank
YCL Sharpe Ratio Rank: 00
Sharpe Ratio Rank
YCL Sortino Ratio Rank: 00
Sortino Ratio Rank
YCL Omega Ratio Rank: 11
Omega Ratio Rank
YCL Calmar Ratio Rank: 11
Calmar Ratio Rank
YCL Martin Ratio Rank: 11
Martin Ratio Rank
GLDI
GLDI Risk / Return Rank: 4141
Overall Rank
GLDI Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
GLDI Sortino Ratio Rank: 3737
Sortino Ratio Rank
GLDI Omega Ratio Rank: 4848
Omega Ratio Rank
GLDI Calmar Ratio Rank: 3535
Calmar Ratio Rank
GLDI Martin Ratio Rank: 4242
Martin Ratio Rank
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. GLDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Yen (YCL) and Credit Suisse X-Links Gold Shares Covered Call ETN (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.

YCLGLDIDifference

Sharpe ratio

Return per unit of total volatility

-1.48

1.50

-2.98

Sortino ratio

Return per unit of downside risk

-2.30

1.93

-4.24

Omega ratio

Gain probability vs. loss probability

0.76

1.31

-0.55

Calmar ratio

Return relative to maximum drawdown

-0.95

1.74

-2.69

Martin ratio

Return relative to average drawdown

-1.40

6.88

-8.27

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. GLDI - Sharpe Ratio Comparison

The current YCL Sharpe Ratio is -1.48, which is lower than the GLDI Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of YCL and GLDI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

YCLGLDIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.48

1.50

-2.98

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.94

1.03

-1.96

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.67

0.80

-1.48

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.50

0.37

-0.88

Drawdowns

YCL vs. GLDI - Drawdown Comparison

The maximum YCL drawdown since its inception was -88.15%, 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

YCLGLDIDifference

Max Drawdown

Largest peak-to-trough decline

-88.15%

-32.26%

-55.89%

Max Drawdown (1Y)

Largest decline over 1 year

-24.55%

-13.73%

-10.82%

Max Drawdown (3Y)

Largest decline over 3 years

-39.91%

-13.73%

-26.18%

Max Drawdown (5Y)

Largest decline over 5 years

-66.19%

-14.07%

-52.12%

Max Drawdown (10Y)

Largest decline over 10 years

-76.71%

-14.94%

-61.77%

Current Drawdown

Current decline from peak

-88.15%

-6.61%

-81.54%

Average Drawdown

Average peak-to-trough decline

-53.11%

-14.01%

-39.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

16.96%

3.47%

+13.49%

Volatility

YCL vs. GLDI - Volatility Comparison

The current volatility for ProShares Ultra Yen (YCL) is 2.72%, while Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) has a volatility of 4.18%. This indicates that YCL experiences smaller price fluctuations and is considered to be less risky 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

YCLGLDIDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.72%

4.18%

-1.46%

Volatility (6M)

Calculated over the trailing 6-month period

11.63%

12.85%

-1.22%

Volatility (1Y)

Calculated over the trailing 1-year period

16.88%

14.65%

+2.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.53%

11.32%

+9.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.61%

11.35%

+7.26%

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 22.19%.

PositionTTM20252024202320222021202020192018201720162015
GLDI
Credit Suisse X-Links Gold Shares Covered Call ETN		22.19%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 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GLDI has higher volatility (4.18%) compared to YCL (2.72%). In terms of maximum drawdown, YCL dropped -88.15% vs GLDI's -32.26%.

On 10-year performance, GLDI leads with 9.07% vs -12.51% for YCL. On fees, GLDI is cheaper at 0.65% per year. On volatility, YCL has been the lower-risk option at 2.72%. 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 9.07% return vs -12.51%. 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 22.19%, compared with 0.00% for YCL.

YCL is categorized as Leveraged Currency, while GLDI is Precious Metals. 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 Credit Suisse. Their fees differ too: 0.95% for YCL and 0.65% for GLDI.

GLDI currently has the higher Sharpe Ratio (1.50 vs -1.48), 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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