YCS vs. EFAV
YCS (ProShares UltraShort Yen) and EFAV (iShares MSCI EAFE Min Vol Factor ETF) are both exchange-traded funds - YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%), while EFAV is a Foreign Large Cap Equities fund tracking the MSCI EAFE Minimum Volatility (USD) Index. Both are passively managed. Over the past 10 years, YCS returned 13.76%/yr vs 6.38%/yr for EFAV. Their -0.09 correlation means they have often moved in opposite directions in the past. YCS charges 1.00%/yr vs 0.20%/yr for EFAV.
Performance
YCS vs. EFAV - Performance Comparison
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Returns By Period
In the year-to-date period, YCS achieves a 7.29% return, which is significantly lower than EFAV's 9.79% return. Over the past 10 years, YCS has outperformed EFAV with an annualized return of 13.76%, while EFAV has yielded a comparatively lower 6.38% annualized return.
YCS
- 1D
- -0.84%
- 1M
- -2.27%
- 6M
- 9.33%
- YTD
- 7.29%
- 1Y
- 25.05%
- 3Y*
- 17.34%
- 5Y*
- 23.55%
- 10Y*
- 13.76%
- ALL TIME*
- 6.44%
EFAV
- 1D
- -1.09%
- 1M
- 4.40%
- 6M
- 6.21%
- YTD
- 9.79%
- 1Y
- 16.01%
- 3Y*
- 14.35%
- 5Y*
- 6.86%
- 10Y*
- 6.38%
- ALL TIME*
- 7.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $54.17M | $49.40M | $45.31M | |
| $1.53M | $2.43M | $1.42M |
YCS vs. EFAV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YCS ProShares UltraShort Yen | 7.29% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
EFAV iShares MSCI EAFE Min Vol Factor ETF | 9.79% | 26.00% | 5.30% | 12.52% | -15.11% | 7.20% | -0.06% | 16.67% | -5.74% | 22.24% |
Correlation
The correlation between YCS and EFAV is -0.52, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.52 |
Correlation (3Y) Balances recent behavior with more history. | -0.45 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.39 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.23 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011 | -0.09 |
Over the past year, the inverse relationship between YCS and EFAV has strengthened: their correlation has moved from -0.09 to -0.52, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
YCS vs. EFAV — Risk / Return Rank
YCS
EFAV
YCS vs. EFAV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Yen (YCS) and iShares MSCI EAFE Min Vol Factor ETF (EFAV). 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 | EFAV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.30 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 2.62 | -0.28 |
| Martin ratioReturn relative to average drawdown | 8.93 | 6.10 | +2.83 |
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Drawdowns
YCS vs. EFAV - Drawdown Comparison
The maximum YCS drawdown since its inception was -49.56%, which is greater than EFAV's maximum drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for YCS and EFAV.
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Drawdown Indicators
| YCS | EFAV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.56% | -27.56% | -22.00% |
Max Drawdown (1Y)Largest decline over 1 year | -8.30% | -6.66% | -1.64% |
Max Drawdown (3Y)Largest decline over 3 years | -23.05% | -8.65% | -14.40% |
Max Drawdown (5Y)Largest decline over 5 years | -27.32% | -27.46% | +0.14% |
Max Drawdown (10Y)Largest decline over 10 years | -27.32% | -27.56% | +0.24% |
Current DrawdownCurrent decline from peak | -5.68% | -1.09% | -4.59% |
Average DrawdownAverage peak-to-trough decline | -19.75% | -4.76% | -14.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.64% | 2.86% | -0.22% |
Volatility
YCS vs. EFAV - Volatility Comparison
ProShares UltraShort Yen (YCS) has a higher volatility of 5.30% compared to iShares MSCI EAFE Min Vol Factor ETF (EFAV) at 3.28%. This indicates that YCS's price experiences larger fluctuations and is considered to be riskier than EFAV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YCS | EFAV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.30% | 3.28% | +2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 11.65% | 8.85% | +2.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.85% | 10.67% | +6.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.16% | 11.88% | +9.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.61% | 13.03% | +5.58% |
YCS vs. EFAV - Expense Ratio Comparison
YCS has a 1.00% expense ratio, which is higher than EFAV's 0.20% expense ratio.
Dividends
YCS vs. EFAV - Dividend Comparison
YCS has not paid dividends to shareholders, while EFAV's dividend yield for the trailing twelve months is around 3.07%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EFAV iShares MSCI EAFE Min Vol Factor ETF | 3.07% | 3.20% | 3.24% | 3.08% | 2.53% | 2.47% | 1.33% | 4.19% | 3.34% | 2.45% | 3.94% | 2.49% |
YCS ProShares UltraShort 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
YCS and EFAV have a correlation of -0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCS has higher volatility (5.30%) compared to EFAV (3.28%). In terms of maximum drawdown, YCS dropped -49.56% vs EFAV's -27.56%.
On 10-year performance, YCS leads with 13.76% vs 6.38% for EFAV. On fees, EFAV is cheaper at 0.20% per year. On volatility, EFAV has been the lower-risk option at 3.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, YCS has performed better with a 13.76% return vs 6.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EFAV is cheaper with a 0.20% expense ratio, compared with 1.00% for YCS.
EFAV has the higher dividend yield at 3.07%, compared with 0.00% for YCS.
YCS is categorized as Leveraged Currency, while EFAV is Foreign Large Cap Equities. YCS tracks USD/JPY Exchange Rate (-200%), while EFAV tracks MSCI EAFE Minimum Volatility (USD) Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 1.00% for YCS and 0.20% for EFAV.
EFAV currently has the higher Sharpe Ratio (1.64 vs 1.16), 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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