YCS vs. BBBS

Last updated Jul 17, 2026

YCS (ProShares UltraShort Yen) and BBBS (Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF) are both exchange-traded funds - YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%), while BBBS is a Short-Term Bond fund tracking the Bloomberg U.S. Corporate BBB 1-5 Year Index. Both are passively managed. Over the past year, YCS returned 29.82% vs 4.04% for BBBS. At a correlation of -0.47, they often move in opposite directions. YCS charges 1.00%/yr vs 0.19%/yr for BBBS.

Performance

YCS vs. BBBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Yen (YCS) and Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF (BBBS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YCS achieves a 11.45% return, which is significantly higher than BBBS's 0.97% return.

YCS

• 1D: 0.42%
• 1M: 3.09%
• 6M: 8.08%
• YTD: 11.45%
• 1Y: 29.82%
• 3Y*: 21.64%
• 5Y*: 24.30%
• 10Y*: 12.99%

BBBS

• 1D: -0.02%
• 1M: 0.01%
• 6M: 0.92%
• YTD: 0.97%
• 1Y: 4.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YCS vs. BBBS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YCS ProShares UltraShort Yen	11.45%	9.04%	22.91%
BBBS Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF	0.97%	6.67%	4.97%

Correlation

The correlation between YCS and BBBS is -0.47, 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	-0.47
Correlation (All Time) Calculated using the full available price history since Jan 25, 2024	-0.47

Return for Risk

YCS vs. BBBS — Risk / Return Rank

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

YCS

YCS Risk / Return Rank: 73
YCS Sharpe Ratio Rank: 71
YCS Sortino Ratio Rank: 61
YCS Omega Ratio Rank: 74
YCS Calmar Ratio Rank: 84
YCS Martin Ratio Rank: 77

BBBS

BBBS Risk / Return Rank: 81
BBBS Sharpe Ratio Rank: 84
BBBS Sortino Ratio Rank: 87
BBBS Omega Ratio Rank: 86
BBBS Calmar Ratio Rank: 70
BBBS Martin Ratio Rank: 77

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.

YCS vs. BBBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Yen (YCS) and Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF (BBBS). 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.

	YCS	BBBS	Difference
Sharpe ratio: Return per unit of total volatility	1.82	2.13	-0.31
Sortino ratio: Return per unit of downside risk	2.30	3.22	-0.92
Omega ratio: Gain probability vs. loss probability	1.35	1.42	-0.07
Calmar ratio: Return relative to maximum drawdown	3.61	2.80	+0.80
Martin ratio: Return relative to average drawdown	11.41	11.26	+0.15

YCS vs. BBBS - Sharpe Ratio Comparison

The current YCS Sharpe Ratio is 1.82, which is comparable to the BBBS Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of YCS and BBBS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

YCS vs. BBBS - Drawdown Comparison

The maximum YCS drawdown since its inception was -49.56%, which is greater than BBBS's maximum drawdown of -1.45%. Use the drawdown chart below to compare losses from any high point for YCS and BBBS.

Drawdown Indicators

	YCS	BBBS	Difference
Max Drawdown Largest peak-to-trough decline	-49.56%	-1.45%	-48.11%
Max Drawdown (1Y) Largest decline over 1 year	-8.30%	-1.45%	-6.85%
Max Drawdown (3Y) Largest decline over 3 years	-23.05%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.32%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-27.32%	—	—
Current Drawdown Current decline from peak	0.00%	-0.17%	+0.17%
Average Drawdown Average peak-to-trough decline	-19.80%	-0.28%	-19.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	0.36%	+2.26%

Volatility

YCS vs. BBBS - Volatility Comparison

ProShares UltraShort Yen (YCS) has a higher volatility of 2.47% compared to Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF (BBBS) at 0.67%. This indicates that YCS's price experiences larger fluctuations and is considered to be riskier than BBBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YCS	BBBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.47%	0.67%	+1.80%
Volatility (6M) Calculated over the trailing 6-month period	11.85%	1.51%	+10.34%
Volatility (1Y) Calculated over the trailing 1-year period	16.54%	1.91%	+14.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.09%	2.24%	+18.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.70%	2.24%	+16.46%

YCS vs. BBBS - Expense Ratio Comparison

YCS has a 1.00% expense ratio, which is higher than BBBS's 0.19% expense ratio.

Dividends

YCS vs. BBBS - Dividend Comparison

YCS has not paid dividends to shareholders, while BBBS's dividend yield for the trailing twelve months is around 4.58%.

Position	TTM	2025	2024
BBBS Bondbloxx BBB Rated 1-5 Year Corporate Bond ETF	4.58%	4.55%	4.31%
YCS ProShares UltraShort Yen	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both YCS and BBBS in my portfolio?

YCS and BBBS have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YCS or BBBS?

YCS has higher volatility (2.47%) compared to BBBS (0.67%). In terms of maximum drawdown, YCS dropped -49.56% vs BBBS's -1.45%.

Which ETF is better, YCS or BBBS?

On 1-year performance, YCS leads with 29.82% vs 4.04% for BBBS. On fees, BBBS is cheaper at 0.19% per year. On volatility, BBBS has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YCS or BBBS?

Over the 1-year period, YCS has performed better with a 29.82% return vs 4.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YCS or BBBS?

BBBS is cheaper with a 0.19% expense ratio, compared with 1.00% for YCS.

Which ETF pays a higher dividend yield, YCS or BBBS?

BBBS has the higher dividend yield at 4.58%, compared with 0.00% for YCS.

What is the main difference between YCS and BBBS?

YCS is categorized as Leveraged Currency, while BBBS is Short-Term Bond. YCS tracks USD/JPY Exchange Rate (-200%), while BBBS tracks Bloomberg U.S. Corporate BBB 1-5 Year Index. They also come from different issuers: ProShares and BondBloxx. Their fees differ too: 1.00% for YCS and 0.19% for BBBS.

Which has better risk-adjusted returns?

BBBS currently has the higher Sharpe Ratio (2.13 vs 1.82), 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.