Skip to content
etf.net

Launched · SEC filings

ProShares - Ultra Yen

YCLNYSE ArcaBThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$18.040.00 (0.00%)

As of Oct 13, 2026, 3:59 PM

B61/ 100

Rank 8 of 99 in Leveraged Long (2x & Other)

B61/100Rank 8 of 99inLeveraged Long (2x & Other)
Intraday session: flat, 55 prints from 18.04 to 18.04. Range 18.04 to 18.10. Use the arrow keys to read each point.18.0618.0718.0818.0918.1010 AM12 PM2 PM4 PM
Expense ratio
0.95%
Fund size
$30M
1Y total return
−12.6%
Yield · Last 12 months
—
Holdings
1
Avg volume · 30D
0M sh
NAV per share
$18.00
52W range
low $16.99high $20.99
Launched
Filings
SEC EDGAR

The ETF.net YCL Grade

Based on 4 of 6 pillars

B

Score 61 out of 100

Category
Leveraged Long (2x & Other)⁠
Rank
8 of 99
Six-pillar profile for YCL. Scores out of 100: Cost 65, Risk 54, Mission not scored, Tradability 60, Holdings not scored, Durability 69. Strongest: Durability (69). Weakest: Risk (54). Based on 4 of 6 pillars.

Score 61 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B65 out of 100
    Rank 30 of 99

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C54 out of 100
    Rank 47 of 96

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B60 out of 100
    Rank 35 of 99

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B69 out of 100
    Rank 18 of 99

Our read on YCL

ETF.net Research

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.

Stated mandate

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

  1. 01One 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
  2. 020.95% a year sits under the typical fee for leveraged funds, and the fund has been running since 2008, through multiple dollar-yen regimes.
  3. 03The 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

  1. 01Daily 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
  2. 02Structured as a commodity pool under ProShares Trust II, so it sends a Schedule K-1 at tax time rather than a 1099.proshares.com
  3. 03Trading 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

As of Oct 13, 2026
Asset class
Other
Holdings
1
Top-10 weight
100%
Largest holding
Net Other Assets (Liabilities)100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Net Other Assets (Liabilities)100.00%29,701,504$30M163

Showing 1–1 of 1 holdings

YCL Performance

Launched Nov 24, 2008

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

YCL$8,736
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. YCL $8,736. SPY $12,044. Use the arrow keys to read each point.$7,958$10,160$12,363Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 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.

Trailing total return for YCL. Periods over one year show the average yearly return.
PeriodYCL
Year to date−5.4%
1 month−6.0%
3 months+3.0%
1 year−12.6%
3 yearsper year−10.1%
5 yearsper year−18.0%
10 yearsper year−12.7%

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for YCL
YearReturn barYCL
2026 YTD−5.4%
2025−6.3%
2024−26.0%
2023−20.5%
2022−26.9%
2021−20.9%
2020+7.2%

YCL in the news

Filtered to YCL · Leveraged Long (2x & Other)

YCL Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

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.

How much the fund’s monthly returns vary, scaled to a year.
19.7%
Annualised · 36 months to Sep 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
−0.66
vs 3-month T-bills · to Sep 2026
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.

The largest fall from a peak to the low that followed.
−65.4%
Trough Jul 2026
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.

How strongly the fund’s returns move with its asset-class index.
0.38
vs its asset-class index
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

Expense ratio0.95%
  • The middle half of Leveraged Long (2x & Other) funds
  • Median 1.00%

29 of the 95 Leveraged Long (2x & Other) funds charge less.

YCL costs $95.00 a year on $10,000. The median Leveraged Long (2x & Other) fund costs $100.00.

Other funds in Leveraged Long (2x & Other)

See others