YCS vs. SQQQ
YCS (ProShares UltraShort Yen) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%), while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, YCS returned 13.63%/yr vs -56.65%/yr for SQQQ. At a correlation of -0.16, they often move in opposite directions. YCS charges 1.00%/yr vs 0.95%/yr for SQQQ.
Performance
YCS vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, YCS achieves a 9.78% return, which is significantly higher than SQQQ's -45.65% return. Over the past 10 years, YCS has outperformed SQQQ with an annualized return of 13.63%, while SQQQ has yielded a comparatively lower -56.65% annualized return.
YCS
- 1D
- 0.40%
- 1M
- 3.71%
- YTD
- 9.78%
- 6M
- 9.63%
- 1Y
- 31.36%
- 3Y*
- 18.43%
- 5Y*
- 23.50%
- 10Y*
- 13.63%
SQQQ
- 1D
- 0.49%
- 1M
- -11.01%
- YTD
- -45.65%
- 6M
- -44.17%
- 1Y
- -65.69%
- 3Y*
- -55.28%
- 5Y*
- -48.07%
- 10Y*
- -56.65%
YCS vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YCS ProShares UltraShort Yen | 9.78% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
SQQQ ProShares UltraPro Short QQQ | -45.65% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
Correlation
The correlation between YCS and SQQQ is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | -0.16 |
The correlation between YCS and SQQQ shifts across timeframes, from -0.16 (all time) to 0.13 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
YCS vs. SQQQ — Risk / Return Rank
YCS
SQQQ
YCS vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Yen (YCS) and ProShares UltraPro Short QQQ (SQQQ). 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 | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.11 | ||
| Sortino ratioReturn per unit of downside risk | +4.77 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.74 | +0.60 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | -1.01 | +4.80 |
| Martin ratioReturn relative to average drawdown | 11.86 | -1.82 | +13.67 |
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Drawdowns
YCS vs. SQQQ - Drawdown Comparison
The maximum YCS drawdown since its inception was -49.56%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for YCS and SQQQ.
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Drawdown Indicators
| YCS | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.56% | -100.00% | +50.44% |
Max Drawdown (1Y)Largest decline over 1 year | -8.30% | -65.19% | +56.89% |
Max Drawdown (3Y)Largest decline over 3 years | -23.05% | -92.51% | +69.46% |
Max Drawdown (5Y)Largest decline over 5 years | -27.32% | -97.27% | +69.95% |
Max Drawdown (10Y)Largest decline over 10 years | -27.32% | -99.98% | +72.66% |
Current DrawdownCurrent decline from peak | 0.00% | -100.00% | +100.00% |
Average DrawdownAverage peak-to-trough decline | -19.88% | -92.73% | +72.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 37.91% | -35.26% |
Volatility
YCS vs. SQQQ - Volatility Comparison
The current volatility for ProShares UltraShort Yen (YCS) is 2.22%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 24.74%. This indicates that YCS experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YCS | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.22% | 24.74% | -22.52% |
Volatility (6M)Calculated over the trailing 6-month period | 12.19% | 42.36% | -30.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.96% | 52.78% | -35.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.10% | 67.38% | -46.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.96% | 66.51% | -47.55% |
YCS vs. SQQQ - Expense Ratio Comparison
YCS has a 1.00% expense ratio, which is higher than SQQQ's 0.95% expense ratio.
Dividends
YCS vs. SQQQ - Dividend Comparison
YCS has not paid dividends to shareholders, while SQQQ's dividend yield for the trailing twelve months is around 12.57%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | 12.57% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
YCS ProShares UltraShort Yen | 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 SQQQ have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (24.74%) compared to YCS (2.22%). In terms of maximum drawdown, YCS dropped -49.56% vs SQQQ's -100.00%.
On 10-year performance, YCS leads with 13.63% vs -56.65% for SQQQ. On fees, SQQQ is cheaper at 0.95% per year. On volatility, YCS has been the lower-risk option at 2.22%. 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 13.63% return vs -56.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SQQQ is cheaper with a 0.95% expense ratio, compared with 1.00% for YCS.
SQQQ has the higher dividend yield at 12.57%, compared with 0.00% for YCS.
YCS is categorized as Leveraged Currency, while SQQQ is Leveraged Equities. YCS tracks USD/JPY Exchange Rate (-200%), while SQQQ tracks NASDAQ-100 Index (-300%). Their fees differ too: 1.00% for YCS and 0.95% for SQQQ.
YCS currently has the higher Sharpe Ratio (1.86 vs -1.25), 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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