YCL vs. UVXY
YCL (ProShares Ultra Yen) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - YCL is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%), while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 10 years, YCL returned -13.37%/yr vs -73.85%/yr for UVXY. At a 0.17 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
YCL vs. UVXY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, YCL achieves a -7.56% return, which is significantly higher than UVXY's -22.07% return. Over the past 10 years, YCL has outperformed UVXY with an annualized return of -13.37%, while UVXY has yielded a comparatively lower -73.85% annualized return.
YCL
- 1D
- 0.22%
- 1M
- -2.97%
- YTD
- -7.56%
- 6M
- -8.37%
- 1Y
- -22.14%
- 3Y*
- -13.96%
- 5Y*
- -19.30%
- 10Y*
- -13.37%
UVXY
- 1D
- 8.28%
- 1M
- -14.92%
- YTD
- -22.07%
- 6M
- -24.28%
- 1Y
- -74.07%
- 3Y*
- -61.96%
- 5Y*
- -66.90%
- 10Y*
- -73.85%
YCL vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YCL ProShares Ultra Yen | -7.56% | -6.34% | -25.97% | -20.46% | -26.92% | -20.94% | 7.16% | -2.99% | 0.17% | 3.48% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -22.07% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between YCL and UVXY is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | 0.17 |
The correlation between YCL and UVXY shifts across timeframes, from -0.11 (1 year) to 0.17 (all time), 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.
Return for Risk
YCL vs. UVXY — Risk / Return Rank
YCL
UVXY
YCL vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Yen (YCL) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). 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 | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 0.81 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | -1.01 | +0.11 |
| Martin ratioReturn relative to average drawdown | -1.35 | -1.45 | +0.10 |
Loading charts...
Drawdowns
YCL vs. UVXY - Drawdown Comparison
The maximum YCL drawdown since its inception was -88.39%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for YCL and UVXY.
Loading charts...
Drawdown Indicators
| YCL | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.39% | -100.00% | +11.61% |
Max Drawdown (1Y)Largest decline over 1 year | -24.74% | -73.51% | +48.77% |
Max Drawdown (3Y)Largest decline over 3 years | -41.14% | -94.93% | +53.79% |
Max Drawdown (5Y)Largest decline over 5 years | -66.88% | -99.71% | +32.83% |
Max Drawdown (10Y)Largest decline over 10 years | -77.19% | -100.00% | +22.81% |
Current DrawdownCurrent decline from peak | -88.37% | -100.00% | +11.63% |
Average DrawdownAverage peak-to-trough decline | -53.21% | -98.75% | +45.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.38% | 55.34% | -38.96% |
Volatility
YCL vs. UVXY - Volatility Comparison
The current volatility for ProShares Ultra Yen (YCL) is 1.35%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 25.85%. This indicates that YCL experiences smaller price fluctuations and is considered to be less risky than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| YCL | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 25.85% | -24.50% |
Volatility (6M)Calculated over the trailing 6-month period | 11.23% | 66.46% | -55.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.43% | 85.46% | -69.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.51% | 103.96% | -83.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.45% | 112.39% | -93.94% |
YCL vs. UVXY - Expense Ratio Comparison
Both YCL and UVXY have an expense ratio of 0.95%.
Dividends
YCL vs. UVXY - Dividend Comparison
Neither YCL nor UVXY has paid dividends to shareholders.
Frequently Asked Questions
YCL and UVXY have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (25.85%) compared to YCL (1.35%). In terms of maximum drawdown, YCL dropped -88.39% vs UVXY's -100.00%.
On 10-year performance, YCL leads with -13.37% vs -73.85% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, YCL has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, YCL has performed better with a -13.37% return vs -73.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YCL and UVXY have the same expense ratio: 0.95% per year.
YCL and UVXY have nearly identical dividend yields, around 0.00%.
YCL is categorized as Leveraged Currency, while UVXY is Volatility. YCL tracks USD/JPY Exchange Rate (-200%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
UVXY currently has the higher Sharpe Ratio (-0.87 vs -1.35), 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.
Find the right allocation for YCL and UVXY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer