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DOG vs YCS

ProShares Short Dow30

DOGBNYSE Arca

ProShares UltraShort Yen

YCSBNYSE Arca

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

DOG0.95%YCS0.95%

Avg volume · 30D

DOG 205.1×the volume

DOG4.77MYCS23.3K

10Y return · a year

YCS +23.7pt

DOG−10.9%YCS+12.8%

DOG vs YCS Performance

Oct 29, 2021 – Oct 30, 2026

−20.7%DOG+166.0%YCS

Oct 29, 2021 to Oct 30, 2026. DOG −20.7%. YCS +166.0%. Use the arrow keys to read each point.50%100%Oct 2021Apr 2024Oct 2026
Expense ratio
DOG 0.95%
YCS 0.95%
Fund size
DOG $115M
YCS $27M
1Y total return
DOG −4.9%
YCS +11.7%, better
Yield (12M)
DOG 3.15%
YCS No data
Holdings
DOG 3
YCS 1
Avg volume (30D)
DOG 4.77M sh, better
YCS 23.3K sh
NAV per share
DOG $22.02
YCS $54.33
52W range

ETF.net Grade

DOG: Cost 50, Risk 65, Mission 97, Tradability 94, Holdings 43, Durability 69. YCS: Cost 50, Risk 88, Mission not scored, Tradability 62, Holdings not scored, Durability 59.
Pillar letters and Scores for DOG, YCS, with each pillar’s weight
PillarDOGYCS
Cost30% weightC50C50
Mission25% weightA97Not scored
Risk15% weightB65A88Higher
Tradability15% weightA94HigherB62
Holdings10% weightC43Not scored
Durability5% weightB69HigherB59

Rank among Leveraged Inverse (2x & Other) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DOG and YCS are both graded against the same 53 Leveraged Inverse (2x & Other) funds, so their Grades compare head to head.

Leveraged Inverse (2x & Other)⁠

Category · 53 funds
See all 53 ›

DOG ranks 1st and YCS 5th of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  3. Rank 5BSJBProShares Short High YieldScore 62
  4. Rank 5BYCSProShares UltraShort YenScore 62
  5. Rank 7BEUOProShares UltraShort EuroScore 61

Our read on each fund

ETF.net Research

DOGBProShares Short Dow30

YCSBProShares UltraShort Yen

In short

DOG The plain-vanilla short on the Dow: DOG aims to deliver the inverse of the index's move each day, with no 2x or 3x bolted on. Running since 2006, and ProShares bills it as the only -1x ETF built on the Dow.

YCS A 2008-vintage ProShares fund built for one job: expressing a bearish yen view at twice the daily move, in a brokerage account, without an FX platform or margin desk. Currency trading, ticker-sized.

Stated mandate

DOG DOG seeks daily investment results, before fees and expenses, that correspond to the inverse of the Dow Jones Industrial Average's daily performance.

YCS YCS seeks daily results corresponding to -2 times the daily performance of the Japanese yen relative to the U.S. dollar, before fees and expenses.

Why people hold it

  • DOG 0.95% net of a waiver through September 30, 2027 (1.00% gross), which sits near the typical fee among leveraged and inverse funds.
  • Sticks close to its daily inverse target, one of the tighter implementations in its peer group.proshares.com
  • Actively traded for an inverse fund, so getting in and back out is rarely the hard part.
  • Live since 2006, so the mechanism has run through the financial crisis, 2020 and every tape since.
  • YCS One of the few listed ways to short the yen with leverage: YCS targets -2x the daily move of the Japanese yen against the U.S. dollar, before fees, using currency forwards.proshares.com
  • It has been running since 2008, through multiple yen regimes. Longevity is rare in leveraged and inverse land, where products get closed when the theme goes quiet.investing.com
  • The 0.95% expense ratio sits below the typical leveraged or inverse fund, and ETF.net rates the overall build among the strongest in that peer group.

Worth knowing

  • DOG The target resets every day. Hold longer than a day and the result depends on the path the Dow takes, not just its direction.proshares.com
  • If the waiver lapses after September 30, 2027, the fee steps up toward the 1.00% gross figure.
  • The Dow is 30 price-weighted names, so this is a short on a narrow, old-school slice of the market rather than the broad tape.proshares.com
  • YCS The -2x target resets daily. Hold longer than a day and compounding takes over, so results can differ from -2x the yen's move over that stretch, especially in choppy currency markets.proshares.com
  • It is a commodity pool, not a 1940 Act fund. That means Schedule K-1 tax paperwork instead of a 1099, and none of the Investment Company Act protections.proshares.comproshares.com 2
  • Small and thinly traded, so bid-ask spreads carry more weight than in a mega-cap ETF. Limit orders are the standard tool here. ProShares also does not expect these funds to pay distributions.proshares.com

Full DOG profile⁠

Full YCS profile⁠

DOG vs YCS Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DOG vs YCS Cost

Same expense ratio

$17,869

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DOG 0.95%

    $17,869

  • YCS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • DOG 0.95%
  • YCS 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DOG $17,869YCS $17,869

Year by year

YearDOGYCS
10$1,678$1,678
20$6,322$6,322
30$17,869$17,869

Expense ratio

  • 0.95%DOG
  • 0.95%YCS
  • Middle half of Leveraged Inverse (2x & Other) funds
  • Median 0.95%

DOG 6th cheapest of 53 funds

YCS 6th cheapest of 53 funds

DOG vs YCS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
DOG 3.15%
YCS No data
Payout (12M)
DOG $0.69
YCS None
Last payment
DOG $0.17
YCS No data
Ex-dividend
DOG Sep 23, 2026
YCS No data
Paid on
DOG Sep 29, 2026
YCS No data
Frequency
DOG Quarterly
YCS No data

Distribution history

Per share, 2017 to 2026, same scale for both

DOGQuarterly · 26 paymentsAll DOG payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.02; Mar 21, 2018 $0.06; Jun 20, 2018 $0.12; Sep 26, 2018 $0.16; Dec 26, 2018 $0.19; Mar 20, 2019 $0.17; Jun 25, 2019 $0.25; Sep 25, 2019 $0.20; Dec 24, 2019 $0.14; Mar 25, 2020 $0.06; Dec 22, 2022 $0.14; Mar 22, 2023 $0.20; Jun 21, 2023 $0.35; Sep 20, 2023 $0.39; Dec 20, 2023 $0.41; Mar 20, 2024 $0.32; Jun 26, 2024 $0.40; Sep 25, 2024 $0.36; Dec 23, 2024 $0.43; Mar 26, 2025 $0.18; Jun 25, 2025 $0.21; Sep 24, 2025 $0.21; Dec 24, 2025 $0.26; Mar 25, 2026 $0.10; Jun 24, 2026 $0.16; Sep 23, 2026 $0.17. Use the arrow keys to read each point.$0$0.502017202020232026YTD
YCSAll YCS payments⁠

No distribution history available.

DOG vs YCS Risk

Fall from peak · 5 years

  • DOG
  • YCS
Oct 29, 2021 to Oct 30, 2026. Worst fall: DOG −37.3% · Aug 2026. Use the arrow keys to read each point.−40%−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
DOG 11.7%, betterYCS 20.1%
Return per unit of riskSharpe ratio, 3 years
DOG −1.21YCS 0.42, better
Worst fallMax drawdown, 5 years
DOG −37.3%YCS −27.3%, better
Market sensitivityBeta, 5 years
DOG −0.83YCS −0.39

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