ProShares UltraShort Yen (YCS) Performance
YCS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +5.6% since Dec 31, 2025
- 1 year
- +13.1% total return
- 5 years
- +21.6% a year
- 10 years
- +13.0% a year
- Since first price
- +6.3% a year since 2008
YCS trailing returns vs SPY, QQQ, AGG
| Period | YCS total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.1% | −1.1% | −1.0% | −5.0% | +0.9% |
| 3 months | −7.1% | −7.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −0.5% | −0.5% | +7.8% | +8.4% | −1.5% |
| YTD | +5.6% | +5.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +13.1% | +13.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +41.5%+12.3%/yr | +41.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +165.9%+21.6%/yr | +165.9% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +238.3%+13.0%/yr | +238.3% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +434.5%+11.8%/yr | +434.5% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionNov 25, 2008 | +196.6%+6.3%/yr | +196.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: YCS vs SPY
From Nov 25, 2008: YCS grew to $29,658, SPY to $122,925.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
YCS returns by calendar year
9 of 17 full years positive. Best 2013 (+39.7%), worst 2010 (−26.4%). 2026 is year to date.
YCS annual returns table
| Year | YCS | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +5.6% | −11.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +9.0% | −19.2% | +17.7% | +20.8% | +7.2% |
| 2024 | +35.4% | −23.0% | +24.9% | +25.6% | +1.3% |
| 2023 | +28.7% | −12.2% | +26.2% | +54.9% | +5.7% |
| 2022 | +29.1% | −23.7% | −18.2% | −32.6% | −13.0% |
| 2021 | +22.4% | −5.2% | +28.7% | +27.4% | −1.8% |
| 2020 | −11.2% | −17.1% | +18.3% | +48.6% | +7.5% |
| 2019 | +3.4% | −10.3% | +31.2% | +39.0% | +8.5% |
| 2018 | −1.5% | −13.8% | −4.6% | −0.1% | +0.1% |
| 2017 | −6.6% | −16.5% | +21.7% | +32.7% | +3.6% |
| 2016 | −8.7% | −33.6% | +12.0% | +7.1% | +2.4% |
| 2015 | −1.6% | −11.6% | +1.2% | +9.4% | +0.5% |
| 2014 | +25.9% | −8.0% | +13.5% | +19.2% | +6.0% |
| 2013 | +39.7% | −17.3% | +32.3% | +36.6% | −2.0% |
| 2012 | +24.0% | −15.3% | +16.0% | +18.1% | +3.8% |
| 2011 | −12.9% | −22.6% | +1.9% | +3.4% | +7.7% |
| 2010 | −26.4% | −29.1% | +15.1% | +19.9% | +6.4% |
| 2009 | −2.5% | −29.2% | +26.4% | +54.7% | +3.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
YCS largest drawdowns
Now 7.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Apr 6, 2009 | −49.6% | Oct 28, 2011 | Oct 31, 2014 | 2.6 years | 5.6 years |
| Jun 5, 2015 | −39.3% | Aug 18, 2016 | Apr 11, 2022 | 1.2 years | 6.9 years |
| Oct 20, 2022 | −27.3% | Jan 13, 2023 | Aug 16, 2023 | 3 months | 10 months |
| Jul 10, 2024 | −23.0% | Sep 16, 2024 | Jan 8, 2025 | 2 months | 6 months |
| Jan 8, 2025 | −19.2% | Apr 21, 2025 | Oct 30, 2025 | 3 months | 10 months |
| Nov 26, 2008 | −16.4% | Dec 17, 2008 | Feb 24, 2009 | 21 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
YCS risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2008 |
|---|---|---|---|---|
| Annualized return | +12.7% | +22.5% | +13.5% | +6.3% |
| Volatility (annualized) | 20.1% | 21.7% | 18.2% | 19.3% |
| Sharpe ratio | 0.48 | 0.88 | 0.66 | 0.34 |
| Sortino ratio | 0.76 | 1.49 | 1.15 | 0.56 |
| Best month | +12.7% | +13.2% | +18.5% | +18.5% |
| Worst month | −12.4% | −13.9% | −13.9% | −13.9% |
| Best 12 months | +36.8% | +68.8% | +68.8% | +68.8% |
| Worst 12 months | −13.0% | −13.0% | −13.0% | −34.5% |
| Positive months | 61% | 62% | 54% | 50% |
| Beta vs S&P 500 | -0.34 | -0.39 | -0.14 | — |
| Correlation with S&P 500 | -0.21 | -0.28 | -0.12 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
YCS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 204 | −34.5% | +5.8% | +68.8% | 62% |
| 3-year (a year) | 180 | −17.0% | +5.8% | +34.6% | 74% |
| 5-year (a year) | 156 | −5.6% | +9.0% | +24.6% | 84% |
| 10-year (a year) | 96 | +0.1% | +6.9% | +13.6% | 100% |
Every holding period starting at a month-end since 2008. Returns for 3 years and longer are annualized.
YCS performance overview
ProShares UltraShort Yen (YCS) returned +13.1% over the past year and +13.0% a year over ten years, with distributions reinvested. Since its first recorded price in 2008 it has returned +6.3% a year, turning $10,000 into about $29,658. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −49.6%, from Apr 6, 2009 to Oct 28, 2011, and it took 3.0 years to get back to the old high. YCS finished 9 of its 17 full calendar years with a gain; the best year was 2013 (+39.7%) and the worst 2010 (−26.4%). Volatility has been 19.3% a year.
Related: YCS chart. See the YCS overview for the latest quote and fund facts.
YCS performance FAQ
What is the YCS return over the past year?
YCS returned +13.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 13.1%.
What is the average annual return of YCS?
YCS has returned +21.6% a year over 5 years, +13.0% a year over 10 years, +6.3% a year since November 25, 2008 (total return, distributions reinvested).
How much would $10,000 invested in YCS be worth?
$10,000 invested in YCS at its first recorded close on November 25, 2008 would be worth about $29,658 on October 23, 2026 with distributions reinvested.
What was the worst year for YCS?
The worst calendar year was 2010, with a total return of −26.4%. The best was 2013 at +39.7%.
What is the biggest drawdown of YCS?
The largest peak-to-trough decline was −49.6% between April 6, 2009 and October 28, 2011. It recovered to the old high on October 31, 2014, 3.0 years after the bottom.
How volatile is YCS?
Over the past 3 years YCS had an annualized volatility of 20.1% and a Sharpe ratio of 0.48 (excess return over 1–3 month T-bills per unit of risk).