YCL vs. OXLCP

Last updated Jun 4, 2026

YCL (ProShares Ultra Yen) is Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%), while OXLCP (Oxford Lane Capital Corp.) is a stock. Over the past 5 years, YCL returned -19.42%/yr vs 6.76%/yr for OXLCP. At a 0.01 correlation, their price movements are largely independent.

Performance

YCL vs. OXLCP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Yen (YCL) and Oxford Lane Capital Corp. (OXLCP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YCL achieves a -5.93% return, which is significantly lower than OXLCP's 4.37% return.

YCL

• 1D: -0.11%
• 1M: -4.01%
• YTD: -5.93%
• 6M: -8.29%
• 1Y: -23.60%
• 3Y*: -15.11%
• 5Y*: -19.42%
• 10Y*: -12.52%

OXLCP

• 1D: 0.00%
• 1M: 0.36%
• YTD: 4.37%
• 6M: 4.86%
• 1Y: 9.91%
• 3Y*: 10.45%
• 5Y*: 6.76%
• 10Y*: —

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

YCL vs. OXLCP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
YCL ProShares Ultra Yen	-5.93%	-6.34%	-25.97%	-20.46%	-26.92%	-20.94%	10.20%
OXLCP Oxford Lane Capital Corp.	4.37%	9.04%	12.26%	8.13%	-4.30%	17.17%	-0.74%

Correlation

The correlation between YCL and OXLCP is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (All Time) Calculated using the full available price history since Feb 7, 2020	0.01

Return for Risk

YCL vs. OXLCP — Risk / Return Rank

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

YCL

YCL Risk / Return Rank: 1
YCL Sharpe Ratio Rank: 0
YCL Sortino Ratio Rank: 0
YCL Omega Ratio Rank: 1
YCL Calmar Ratio Rank: 1
YCL Martin Ratio Rank: 2

OXLCP

OXLCP Risk / Return Rank: 95
OXLCP Sharpe Ratio Rank: 92
OXLCP Sortino Ratio Rank: 93
OXLCP Omega Ratio Rank: 94
OXLCP Calmar Ratio Rank: 97
OXLCP Martin Ratio Rank: 98

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. OXLCP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Yen (YCL) and Oxford Lane Capital Corp. (OXLCP). 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	OXLCP	Difference
Sharpe ratio Return per unit of total volatility	-1.42	2.49	-3.91
Sortino ratio Return per unit of downside risk	-2.19	3.78	-5.97
Omega ratio Gain probability vs. loss probability	0.77	1.53	-0.76
Calmar ratio Return relative to maximum drawdown	-0.96	10.26	-11.22
Martin ratio Return relative to average drawdown	-1.41	29.32	-30.73
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. OXLCP - Sharpe Ratio Comparison

The current YCL Sharpe Ratio is -1.42, which is lower than the OXLCP Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of YCL and OXLCP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	YCL	OXLCP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.42	2.49	-3.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.95	0.82	-1.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.50	0.28	-0.79

Drawdowns

YCL vs. OXLCP - Drawdown Comparison

The maximum YCL drawdown since its inception was -88.16%, which is greater than OXLCP's maximum drawdown of -49.79%. Use the drawdown chart below to compare losses from any high point for YCL and OXLCP.

Drawdown Indicators

	YCL	OXLCP	Difference
Max Drawdown Largest peak-to-trough decline	-88.16%	-49.79%	-38.37%
Max Drawdown (1Y) Largest decline over 1 year	-24.63%	-0.97%	-23.66%
Max Drawdown (3Y) Largest decline over 3 years	-39.97%	-1.90%	-38.07%
Max Drawdown (5Y) Largest decline over 5 years	-66.22%	-11.72%	-54.50%
Max Drawdown (10Y) Largest decline over 10 years	-76.74%	—	—
Current Drawdown Current decline from peak	-88.16%	-0.25%	-87.91%
Average Drawdown Average peak-to-trough decline	-53.11%	-2.40%	-50.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.81%	0.34%	+16.47%

Volatility

YCL vs. OXLCP - Volatility Comparison

ProShares Ultra Yen (YCL) has a higher volatility of 2.71% compared to Oxford Lane Capital Corp. (OXLCP) at 0.70%. This indicates that YCL's price experiences larger fluctuations and is considered to be riskier than OXLCP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YCL	OXLCP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.71%	0.70%	+2.01%
Volatility (6M) Calculated over the trailing 6-month period	11.53%	2.58%	+8.95%
Volatility (1Y) Calculated over the trailing 1-year period	16.80%	4.00%	+12.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.52%	8.33%	+12.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.61%	25.11%	-6.50%

Dividends

YCL vs. OXLCP - Dividend Comparison

YCL has not paid dividends to shareholders, while OXLCP's dividend yield for the trailing twelve months is around 6.25%.

Position	TTM	2025	2024	2023	2022	2021	2020
OXLCP Oxford Lane Capital Corp.	6.25%	6.35%	6.49%	6.82%	6.89%	6.18%	6.02%
YCL ProShares Ultra Yen	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both YCL and OXLCP in my portfolio?

YCL and OXLCP have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YCL or OXLCP?

YCL has higher volatility (2.71%) compared to OXLCP (0.70%). In terms of maximum drawdown, YCL dropped -88.16% vs OXLCP's -49.79%.

Which has better risk-adjusted returns?

OXLCP currently has the higher Sharpe Ratio (2.49 vs -1.42), 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.