ZROZ vs. YCS
ZROZ (PIMCO 25+ Year Zero Coupon US Treasury Index Fund) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - ZROZ is a Government Bonds fund tracking the ICE BofA Long U.S. Treasury Principal STRIPS Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, ZROZ returned -4.00%/yr vs 12.16%/yr for YCS. At a correlation of -0.41, they often move in opposite directions. ZROZ charges 0.15%/yr vs 1.00%/yr for YCS.
Performance
ZROZ vs. YCS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZROZ achieves a -0.75% return, which is significantly lower than YCS's 7.17% return. Over the past 10 years, ZROZ has underperformed YCS with an annualized return of -4.00%, while YCS has yielded a comparatively higher 12.16% annualized return.
ZROZ
- 1D
- 0.32%
- 1M
- 0.90%
- YTD
- -0.75%
- 6M
- -3.22%
- 1Y
- 1.47%
- 3Y*
- -7.14%
- 5Y*
- -11.57%
- 10Y*
- -4.00%
YCS
- 1D
- 0.00%
- 1M
- 3.39%
- YTD
- 7.17%
- 6M
- 10.02%
- 1Y
- 34.99%
- 3Y*
- 20.03%
- 5Y*
- 23.54%
- 10Y*
- 12.16%
ZROZ vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | -0.75% | -1.84% | -16.18% | 1.19% | -41.28% | -5.22% | 24.57% | 21.22% | -5.43% | 14.77% |
YCS ProShares UltraShort Yen | 7.17% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between ZROZ and YCS is -0.38, 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 | -0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.42 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2009 | -0.41 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ZROZ vs. YCS — Risk / Return Rank
ZROZ
YCS
ZROZ vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) and ProShares UltraShort Yen (YCS). 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.
| ZROZ | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.96 | ||
| Sortino ratioReturn per unit of downside risk | -2.35 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.38 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 4.23 | -4.13 |
| Martin ratioReturn relative to average drawdown | 0.24 | 13.22 | -12.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ZROZ | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.09 | 2.06 | -1.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.49 | 1.12 | -1.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.18 | 0.64 | -0.82 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.33 | -0.24 |
Drawdowns
ZROZ vs. YCS - Drawdown Comparison
The maximum ZROZ drawdown since its inception was -62.93%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for ZROZ and YCS.
Loading charts...
Drawdown Indicators
| ZROZ | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.93% | -49.56% | -13.37% |
Max Drawdown (1Y)Largest decline over 1 year | -14.02% | -8.30% | -5.72% |
Max Drawdown (3Y)Largest decline over 3 years | -28.62% | -23.05% | -5.57% |
Max Drawdown (5Y)Largest decline over 5 years | -57.98% | -27.32% | -30.66% |
Max Drawdown (10Y)Largest decline over 10 years | -62.93% | -27.32% | -35.61% |
Current DrawdownCurrent decline from peak | -59.80% | 0.00% | -59.80% |
Average DrawdownAverage peak-to-trough decline | -24.05% | -19.93% | -4.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.15% | 2.65% | +3.50% |
Volatility
ZROZ vs. YCS - Volatility Comparison
PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ) has a higher volatility of 4.37% compared to ProShares UltraShort Yen (YCS) at 2.62%. This indicates that ZROZ's price experiences larger fluctuations and is considered to be riskier than YCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ZROZ | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.37% | 2.62% | +1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 10.54% | 12.31% | -1.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.25% | 17.18% | -0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.89% | 21.09% | +2.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.05% | 19.01% | +3.04% |
ZROZ vs. YCS - Expense Ratio Comparison
ZROZ has a 0.15% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
ZROZ vs. YCS - Dividend Comparison
ZROZ's dividend yield for the trailing twelve months is around 5.13%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund | 5.13% | 4.96% | 4.58% | 3.52% | 2.76% | 1.60% | 1.68% | 2.22% | 2.06% | 2.53% | 3.00% | 2.98% |
Frequently Asked Questions
ZROZ and YCS have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZROZ has higher volatility (4.37%) compared to YCS (2.62%). In terms of maximum drawdown, ZROZ dropped -62.93% vs YCS's -49.56%.
On 10-year performance, YCS leads with 12.16% vs -4.00% for ZROZ. On fees, ZROZ is cheaper at 0.15% per year. On volatility, YCS has been the lower-risk option at 2.62%. 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 12.16% return vs -4.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ZROZ is cheaper with a 0.15% expense ratio, compared with 1.00% for YCS.
ZROZ has the higher dividend yield at 5.13%, compared with 0.00% for YCS.
ZROZ is categorized as Government Bonds, while YCS is Leveraged Currency. ZROZ tracks ICE BofA Long U.S. Treasury Principal STRIPS Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: PIMCO and ProShares. Their fees differ too: 0.15% for ZROZ and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (2.06 vs 0.09), 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.
Find the right allocation for ZROZ and YCS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer