YCS vs. MURGY

Last updated Jul 21, 2026

YCS (ProShares UltraShort Yen) is Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%), while MURGY (Muenchener Rueckver Ges) is a stock. Over the past 10 years, YCS returned 13.01%/yr vs 18.87%/yr for MURGY. At a 0.04 correlation, their price movements are largely independent.

Performance

YCS vs. MURGY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Yen (YCS) and Muenchener Rueckver Ges (MURGY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YCS achieves a 11.53% return, which is significantly higher than MURGY's -6.54% return. Over the past 10 years, YCS has underperformed MURGY with an annualized return of 13.01%, while MURGY has yielded a comparatively higher 18.87% annualized return.

YCS

• 1D: 0.16%
• 1M: 1.99%
• 6M: 9.13%
• YTD: 11.53%
• 1Y: 28.09%
• 3Y*: 19.82%
• 5Y*: 24.23%
• 10Y*: 13.01%
• ALL TIME*: 6.68%

MURGY

• 1D: -0.42%
• 1M: 11.24%
• 6M: 0.96%
• YTD: -6.54%
• 1Y: -7.52%
• 3Y*: 20.20%
• 5Y*: 21.53%
• 10Y*: 18.87%
• ALL TIME*: 15.07%

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

YCS vs. MURGY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
YCS ProShares UltraShort Yen	11.53%	9.04%	35.41%	28.70%	29.09%	22.38%	-11.18%	3.37%	-1.49%	-6.57%
MURGY Muenchener Rueckver Ges	-6.54%	36.01%	23.53%	34.32%	14.50%	2.58%	4.34%	38.79%	4.17%	28.67%

Correlation

The correlation between YCS and MURGY is -0.30, 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	-0.30
Correlation (3Y) Calculated over the trailing 3-year period	-0.18
Correlation (5Y) Calculated over the trailing 5-year period	-0.15
Correlation (10Y) Calculated over the trailing 10-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008	0.04

The correlation between YCS and MURGY shifts across timeframes, from -0.30 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.

Return for Risk

YCS vs. MURGY — Risk / Return Rank

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

YCS

YCS Risk / Return Rank: 74
YCS Sharpe Ratio Rank: 72
YCS Sortino Ratio Rank: 62
YCS Omega Ratio Rank: 75
YCS Calmar Ratio Rank: 84
YCS Martin Ratio Rank: 78

MURGY

MURGY Risk / Return Rank: 31
MURGY Sharpe Ratio Rank: 30
MURGY Sortino Ratio Rank: 27
MURGY Omega Ratio Rank: 27
MURGY Calmar Ratio Rank: 35
MURGY Martin Ratio Rank: 34

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. MURGY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Yen (YCS) and Muenchener Rueckver Ges (MURGY). 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	MURGY	Difference
Sharpe ratio: Return per unit of total volatility	1.72	-0.34	+2.05
Sortino ratio: Return per unit of downside risk	2.19	-0.31	+2.50
Omega ratio: Gain probability vs. loss probability	1.33	0.96	+0.37
Calmar ratio: Return relative to maximum drawdown	3.40	-0.30	+3.70
Martin ratio: Return relative to average drawdown	10.82	-0.60	+11.42

YCS vs. MURGY - Sharpe Ratio Comparison

The current YCS Sharpe Ratio is 1.72, which is higher than the MURGY Sharpe Ratio of -0.34. The chart below compares the historical Sharpe Ratios of YCS and MURGY, 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. MURGY - Drawdown Comparison

The maximum YCS drawdown since its inception was -49.56%, roughly equal to the maximum MURGY drawdown of -48.01%. Use the drawdown chart below to compare losses from any high point for YCS and MURGY.

Drawdown Indicators

	YCS	MURGY	Difference
Max Drawdown Largest peak-to-trough decline	-49.56%	-48.01%	-1.55%
Max Drawdown (1Y) Largest decline over 1 year	-8.30%	-25.23%	+16.93%
Max Drawdown (3Y) Largest decline over 3 years	-23.05%	-25.23%	+2.18%
Max Drawdown (5Y) Largest decline over 5 years	-27.32%	-29.54%	+2.22%
Max Drawdown (10Y) Largest decline over 10 years	-27.32%	-48.01%	+20.69%
Current Drawdown Current decline from peak	0.00%	-12.88%	+12.88%
Average Drawdown Average peak-to-trough decline	-19.79%	-8.75%	-11.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	12.66%	-10.04%

Volatility

YCS vs. MURGY - Volatility Comparison

The current volatility for ProShares UltraShort Yen (YCS) is 2.48%, while Muenchener Rueckver Ges (MURGY) has a volatility of 4.97%. This indicates that YCS experiences smaller price fluctuations and is considered to be less risky than MURGY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YCS	MURGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.48%	4.97%	-2.49%
Volatility (6M) Calculated over the trailing 6-month period	11.82%	16.78%	-4.96%
Volatility (1Y) Calculated over the trailing 1-year period	16.46%	22.48%	-6.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.08%	24.32%	-3.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.68%	25.63%	-6.95%

Dividends

YCS vs. MURGY - Dividend Comparison

YCS has not paid dividends to shareholders, while MURGY's dividend yield for the trailing twelve months is around 4.71%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MURGY Muenchener Rueckver Ges	4.71%	3.31%	3.21%	2.98%	3.73%	2.68%	2.50%	2.44%	3.39%	10.17%	9.45%	4.25%
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

Can I hold both YCS and MURGY in my portfolio?

YCS and MURGY have a correlation of -0.30, 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 MURGY?

MURGY has higher volatility (4.97%) compared to YCS (2.48%). In terms of maximum drawdown, YCS dropped -49.56% vs MURGY's -48.01%.

Which has better risk-adjusted returns?

YCS currently has the higher Sharpe Ratio (1.72 vs -0.34), 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.