It's a true peak reading power/SWR meter. Nice piece of equipment, 'specially for $50. But make sure you realize that the YS-60 is for HF, 1.6MHz to 60MHz. The YS-500 covers VHF and UHF, 140 MHz up to 525MHz. This one would work for CB stuff, as well as 160m to 6m ham.
"Stand your ground. Don't fire unless fired upon, but if they mean to have a war, let it begin here." -- Capt. John Parker