ProShares - Ultra Yen
$18.08−0.23 (−1.26%)
- Expense ratio
- 0.95%
- Fund size
- $31M
- 1Y return
- −16.3%
- Yield · Last 12 months
- —
- Holdings
- 3
- Volume · 30D
- 0M sh
- NAV per share
- $18.48
- 52W range
The ETF.net YCL Grade
Score 58 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 65Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 50Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 53Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 69Category rank
Our read on YCL
BThe only US ETF built to double the yen's daily move against the dollar. A one-day macro tool wrapped as a commodity pool, on the shelf since 2008 for traders with a view on dollar-yen.
YCL seeks daily investment results, before fees and expenses, equal to two times the daily performance of the Japanese yen against the U.S. dollar.
Why people hold it
- One of a kind: ProShares states no other ETF targets 2x the daily performance of the yen versus the dollar. The alternative route is futures, forwards or a margin account.proshares.com
- 0.95% a year sits under the typical fee for leveraged funds, and the fund has been running since 2008, through multiple dollar-yen regimes.
- The mechanism is plain: two times the yen's daily move against the dollar, reset each day, traded through one ticker in an ordinary brokerage account.proshares.com
Worth knowing
- Daily reset compounds. Over any stretch longer than a day, results can land well away from 2x the yen's move, and choppy currency markets widen that gap.prospectus.proshares.com
- Structured as a commodity pool under ProShares Trust II, so it sends a Schedule K-1 at tax time rather than a 1099.proshares.com
- Trading is light next to the big equity-index leveraged funds like UDOW and QLD, which can show up as wider spreads around the quote.
YCL Holdings
- Other
- 3
- 100%
- Net Other Assets (Liabilities)
YCL Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | YCL |
|---|---|
| Year to date | −4.0% |
| 1 month | +1.6% |
| 3 months | +4.1% |
| 1 year | −16.3% |
| 3 years | −10.4% |
| 5 years | −18.9% |
| 10 years | −13.2% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | YCL |
|---|---|---|
| 2026 YTD | −4.0% | |
| 2025 | −6.3% | |
| 2024 | −26.0% | |
| 2023 | −20.5% | |
| 2022 | −26.9% | |
| 2021 | −20.9% | |
| 2020 | +7.2% |
YCL in the news
ETF.net Research hasn’t filed on YCL yet — coverage lands here as it’s written.
YCL Dividends
No distributions in the last 12 months.
YCL Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 19.9%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.80
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −67.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.38
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
YCL Cost
- The middle half of Leveraged Long (2x & Other) funds
- Median 0.99%
29 of the 93 Leveraged Long (2x & Other) funds charge less.