YCS vs. JPYUSD=X
YCS (ProShares UltraShort Yen) is Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%), while JPYUSD=X (JPY/USD) is a currency. Over the past 10 years, YCS returned 13.35%/yr vs -4.27%/yr for JPYUSD=X. Their -0.94 correlation means they have often moved in opposite directions in the past.
Performance
YCS vs. JPYUSD=X - Performance Comparison
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Returns By Period
In the year-to-date period, YCS achieves a 5.42% return, which is significantly higher than JPYUSD=X's -0.51% return. Over the past 10 years, YCS has outperformed JPYUSD=X with an annualized return of 13.35%, while JPYUSD=X has yielded a comparatively lower -4.27% annualized return.
YCS
- 1D
- 1.26%
- 1M
- -3.97%
- 6M
- 6.17%
- YTD
- 5.42%
- 1Y
- 23.44%
- 3Y*
- 17.45%
- 5Y*
- 23.10%
- 10Y*
- 13.35%
- ALL TIME*
- 6.33%
JPYUSD=X
- 1D
- -0.17%
- 1M
- 2.72%
- 6M
- -1.07%
- YTD
- -0.51%
- 1Y
- -6.57%
- 3Y*
- -3.45%
- 5Y*
- -6.97%
- 10Y*
- -4.27%
- ALL TIME*
- -1.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
JPYUSD=X JPY/USD | $763.15 | $670.97 | $589.12 |
| $2.54M | $2.29M | $1.59M |
YCS vs. JPYUSD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YCS ProShares UltraShort Yen | 5.42% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
JPYUSD=X JPY/USD | -0.51% | 0.33% | -10.26% | -7.04% | -12.23% | -10.24% | 5.18% | 0.86% | 2.82% | 3.91% |
Correlation
The correlation between YCS and JPYUSD=X is -0.81, 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. | -0.82 |
Correlation (3Y) Balances recent behavior with more history. | -0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.94 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | -0.94 |
The correlation between YCS and JPYUSD=X shifts across timeframes, from -0.94 (10 years) to -0.81 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
YCS vs. JPYUSD=X — Risk / Return Rank
YCS
JPYUSD=X
YCS vs. JPYUSD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Yen (YCS) and JPY/USD (JPYUSD=X). 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 | JPYUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.16 | ||
| Sortino ratioReturn per unit of downside risk | +2.94 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.88 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | -0.50 | +3.28 |
| Martin ratioReturn relative to average drawdown | 10.25 | -0.81 | +11.06 |
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Drawdowns
YCS vs. JPYUSD=X - Drawdown Comparison
The maximum YCS drawdown since its inception was -49.56%, smaller than the maximum JPYUSD=X drawdown of -53.57%. Use the drawdown chart below to compare losses from any high point for YCS and JPYUSD=X.
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Drawdown Indicators
| YCS | JPYUSD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.56% | -53.57% | +4.01% |
Max Drawdown (1Y)Largest decline over 1 year | -8.48% | -10.61% | +2.13% |
Max Drawdown (3Y)Largest decline over 3 years | -23.05% | -14.18% | -8.87% |
Max Drawdown (5Y)Largest decline over 5 years | -27.32% | -33.35% | +6.03% |
Max Drawdown (10Y)Largest decline over 10 years | -27.32% | -39.01% | +11.69% |
Current DrawdownCurrent decline from peak | -7.32% | -51.69% | +44.37% |
Average DrawdownAverage peak-to-trough decline | -19.75% | -27.37% | +7.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.29% | 4.93% | -2.64% |
Volatility
YCS vs. JPYUSD=X - Volatility Comparison
ProShares UltraShort Yen (YCS) has a higher volatility of 5.95% compared to JPY/USD (JPYUSD=X) at 2.97%. This indicates that YCS's price experiences larger fluctuations and is considered to be riskier than JPYUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YCS | JPYUSD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.95% | 2.97% | +2.98% |
Volatility (6M)Calculated over the trailing 6-month period | 11.87% | 5.07% | +6.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.44% | 7.34% | +9.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.21% | 9.60% | +11.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.61% | 8.65% | +9.96% |
Frequently Asked Questions
YCS and JPYUSD=X have a correlation of -0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCS has higher volatility (5.95%) compared to JPYUSD=X (2.97%). In terms of maximum drawdown, YCS dropped -49.56% vs JPYUSD=X's -53.57%.
YCS currently has the higher Sharpe Ratio (1.43 vs -0.73), 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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