YCS vs. UYG
YCS (ProShares UltraShort Yen) and UYG (ProShares Ultra Financials) are both exchange-traded funds - YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%), while UYG is a Leveraged Equities fund tracking the Dow Jones U.S. Financials Index (200%). Both are passively managed. Over the past 10 years, YCS returned 12.96%/yr vs 17.78%/yr for UYG. At a 0.23 correlation, their price movements are largely independent. YCS charges 1.00%/yr vs 0.95%/yr for UYG.
Performance
YCS vs. UYG - Performance Comparison
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Returns By Period
In the year-to-date period, YCS achieves a 7.88% return, which is significantly higher than UYG's -7.22% return. Over the past 10 years, YCS has underperformed UYG with an annualized return of 12.96%, while UYG has yielded a comparatively higher 17.78% annualized return.
YCS
- 1D
- 0.26%
- 1M
- 2.50%
- YTD
- 7.88%
- 6M
- 10.26%
- 1Y
- 33.48%
- 3Y*
- 18.92%
- 5Y*
- 23.21%
- 10Y*
- 12.96%
UYG
- 1D
- 0.69%
- 1M
- 8.96%
- YTD
- -7.22%
- 6M
- -7.53%
- 1Y
- 9.46%
- 3Y*
- 28.71%
- 5Y*
- 11.18%
- 10Y*
- 17.78%
YCS vs. UYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YCS ProShares UltraShort Yen | 7.88% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
UYG ProShares Ultra Financials | -7.22% | 19.77% | 55.71% | 22.14% | -32.11% | 76.26% | -20.32% | 66.15% | -22.61% | 39.28% |
Correlation
The correlation between YCS and UYG is -0.12, 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 | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | 0.23 |
The correlation between YCS and UYG shifts across timeframes, from -0.12 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
YCS vs. UYG — Risk / Return Rank
YCS
UYG
YCS vs. UYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Yen (YCS) and ProShares Ultra Financials (UYG). 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 | UYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.65 | ||
| Sortino ratioReturn per unit of downside risk | +1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.08 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 4.05 | 0.33 | +3.72 |
| Martin ratioReturn relative to average drawdown | 12.65 | 0.78 | +11.87 |
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Drawdowns
YCS vs. UYG - Drawdown Comparison
The maximum YCS drawdown since its inception was -49.56%, smaller than the maximum UYG drawdown of -97.90%. Use the drawdown chart below to compare losses from any high point for YCS and UYG.
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Drawdown Indicators
| YCS | UYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.56% | -97.90% | +48.34% |
Max Drawdown (1Y)Largest decline over 1 year | -8.30% | -28.91% | +20.61% |
Max Drawdown (3Y)Largest decline over 3 years | -23.05% | -30.35% | +7.30% |
Max Drawdown (5Y)Largest decline over 5 years | -27.32% | -47.77% | +20.45% |
Max Drawdown (10Y)Largest decline over 10 years | -27.32% | -69.98% | +42.66% |
Current DrawdownCurrent decline from peak | -0.27% | -12.37% | +12.10% |
Average DrawdownAverage peak-to-trough decline | -19.89% | -63.28% | +43.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 12.17% | -9.52% |
Volatility
YCS vs. UYG - Volatility Comparison
The current volatility for ProShares UltraShort Yen (YCS) is 2.18%, while ProShares Ultra Financials (UYG) has a volatility of 8.33%. This indicates that YCS experiences smaller price fluctuations and is considered to be less risky than UYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YCS | UYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 8.33% | -6.15% |
Volatility (6M)Calculated over the trailing 6-month period | 12.25% | 22.24% | -9.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.05% | 29.13% | -12.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.10% | 36.23% | -15.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.98% | 41.07% | -22.09% |
YCS vs. UYG - Expense Ratio Comparison
YCS has a 1.00% expense ratio, which is higher than UYG's 0.95% expense ratio.
Dividends
YCS vs. UYG - Dividend Comparison
YCS has not paid dividends to shareholders, while UYG's dividend yield for the trailing twelve months is around 12.59%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UYG ProShares Ultra Financials | 12.59% | 11.72% | 0.51% | 0.79% | 0.77% | 9.39% | 0.66% | 0.90% | 1.28% | 0.56% | 0.76% | 0.72% |
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
YCS and UYG have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UYG has higher volatility (8.33%) compared to YCS (2.18%). In terms of maximum drawdown, YCS dropped -49.56% vs UYG's -97.90%.
On 10-year performance, UYG leads with 17.78% vs 12.96% for YCS. On fees, UYG is cheaper at 0.95% per year. On volatility, YCS has been the lower-risk option at 2.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UYG has performed better with a 17.78% return vs 12.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UYG is cheaper with a 0.95% expense ratio, compared with 1.00% for YCS.
UYG has the higher dividend yield at 12.59%, compared with 0.00% for YCS.
YCS is categorized as Leveraged Currency, while UYG is Leveraged Equities. YCS tracks USD/JPY Exchange Rate (-200%), while UYG tracks Dow Jones U.S. Financials Index (200%). Their fees differ too: 1.00% for YCS and 0.95% for UYG.
YCS currently has the higher Sharpe Ratio (1.98 vs 0.33), 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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