YCS vs. TBT
Compare and contrast key facts about ProShares UltraShort Yen (YCS) and ProShares UltraShort 20+ Year Treasury (TBT).
YCS and TBT 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. TBT is a passively managed fund by ProShares that tracks the performance of the U.S. Treasury 20+ Year Index (-200%). It was launched on May 1, 2008. Both YCS and TBT 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 TBT.
Key characteristics
| YCS | TBT | |
|---|---|---|
| YTD Return | 22.29% | 21.54% |
| 1Y Return | 46.02% | 35.09% |
| 3Y Return (Ann) | 30.67% | 23.85% |
| 5Y Return (Ann) | 16.90% | 3.30% |
| 10Y Return (Ann) | 9.95% | -4.40% |
| Sharpe Ratio | 2.37 | 1.14 |
| Daily Std Dev | 18.62% | 33.14% |
| Max Drawdown | -49.56% | -94.99% |
| Current Drawdown | -6.38% | -86.55% |
Correlation
The correlation between YCS and TBT is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
YCS vs. TBT - Performance Comparison
The year-to-date returns for both stocks are quite close, with YCS having a 22.29% return and TBT slightly lower at 21.54%. Over the past 10 years, YCS has outperformed TBT with an annualized return of 9.95%, while TBT has yielded a comparatively lower -4.40% annualized 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. TBT - Expense Ratio Comparison
YCS has a 1.00% expense ratio, which is higher than TBT's 0.92% expense ratio.
Risk-Adjusted Performance
YCS vs. TBT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Yen (YCS) and ProShares UltraShort 20+ Year Treasury (TBT). 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. TBT - Dividend Comparison
YCS has not paid dividends to shareholders, while TBT's dividend yield for the trailing twelve months is around 4.23%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TBT ProShares UltraShort 20+ Year Treasury | 4.23% | 4.98% | 0.42% | 0.00% | 0.27% | 2.12% | 0.99% |
Drawdowns
YCS vs. TBT - Drawdown Comparison
The maximum YCS drawdown since its inception was -49.56%, smaller than the maximum TBT drawdown of -94.99%. Use the drawdown chart below to compare losses from any high point for YCS and TBT. For additional features, visit the drawdowns tool.
Volatility
YCS vs. TBT - Volatility Comparison
The current volatility for ProShares UltraShort Yen (YCS) is 7.86%, while ProShares UltraShort 20+ Year Treasury (TBT) has a volatility of 8.41%. This indicates that YCS experiences smaller price fluctuations and is considered to be less risky than TBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.