YCS vs. PAVE
Compare and contrast key facts about ProShares UltraShort Yen (YCS) and Global X US Infrastructure Development ETF (PAVE).
YCS and PAVE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. YCS is a passively managed fund by ProShares that tracks the performance of the USD/JPY Exchange Rate (-200%). It was launched on Nov 25, 2008. PAVE is a passively managed fund by Global X that tracks the performance of the INDXX U.S. Infrastructure Development Index. It was launched on Mar 6, 2017. Both YCS and PAVE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: YCS or PAVE.
Key characteristics
| YCS | PAVE | |
|---|---|---|
| YTD Return | 22.29% | 11.11% |
| 1Y Return | 46.02% | 41.15% |
| 3Y Return (Ann) | 30.67% | 13.89% |
| 5Y Return (Ann) | 16.90% | 19.07% |
| Sharpe Ratio | 2.37 | 2.36 |
| Daily Std Dev | 18.62% | 16.74% |
| Max Drawdown | -49.56% | -44.08% |
| Current Drawdown | -6.38% | -3.82% |
Correlation
The correlation between YCS and PAVE is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
YCS vs. PAVE - Performance Comparison
In the year-to-date period, YCS achieves a 22.29% return, which is significantly higher than PAVE's 11.11% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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YCS vs. PAVE - Expense Ratio Comparison
YCS has a 1.00% expense ratio, which is higher than PAVE's 0.47% expense ratio.
Risk-Adjusted Performance
YCS vs. PAVE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Yen (YCS) and Global X US Infrastructure Development ETF (PAVE). 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.
Dividends
YCS vs. PAVE - Dividend Comparison
YCS has not paid dividends to shareholders, while PAVE's dividend yield for the trailing twelve months is around 0.62%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PAVE Global X US Infrastructure Development ETF | 0.62% | 0.68% | 0.84% | 0.48% | 0.44% | 0.67% | 0.78% | 0.30% |
Drawdowns
YCS vs. PAVE - Drawdown Comparison
The maximum YCS drawdown since its inception was -49.56%, which is greater than PAVE's maximum drawdown of -44.08%. Use the drawdown chart below to compare losses from any high point for YCS and PAVE. For additional features, visit the drawdowns tool.
Volatility
YCS vs. PAVE - Volatility Comparison
ProShares UltraShort Yen (YCS) has a higher volatility of 7.86% compared to Global X US Infrastructure Development ETF (PAVE) at 4.42%. This indicates that YCS's price experiences larger fluctuations and is considered to be riskier than PAVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.