Key stats
About ProShares Ultra Yen
Home page
Inception date
Nov 24, 2008
Structure
Commodities Pool
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
No distributions
Income tax type
60/40
Max ST capital gains rate
27.84%
Max LT capital gains rate
27.84%
Primary advisor
ProShare Advisors LLC
Distributor
SEI Investments Distribution Co.
ISIN
US74347W2706
YCL offers a bullish one-day bet on the Japanese yen/US dollar cross rate, designed to gain big when the yen appreciates against the greenback. The fund rebalances its 2x exposure on a daily basis, so over the long term, returns in YCL could diverge significantly from expected returns due to compounding effects. Unlike most geared funds, YCL gains its leveraged exposure through futures and forward contracts, as opposed to swap agreements. Therefore, the fund is structured as a commodities pool and it distributes K-1 forms. Furthermore, YCLs taxation on sale of shares is blended, with 60% of gains taxed at the long-term rate, and 40% of gains taxed as ordinary income, regardless of holding period. It is also worth noting that the implementation of Abenomics in 2012 negatively affected the performance of Japanese yen relative to the US dollar.
Related funds
Classification
Geography
Japan
What's in the fund
Exposure type
Cash
Bonds, Cash & Other100.00%
Cash100.00%
Top 10 holdings
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
YCL assets under management is 55.52 M USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
YCL invests in cash. See more details in our Analysis section.
YCL expense ratio is 0.95%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
Yes, YCL is a leveraged ETF, meaning it uses borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
No, YCL doesn't pay dividends to its holders.
YCL shares are issued by ProShare Advisors LLC
YCL follows the JPY/USD Exchange Rate - Benchmark Price Return. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Nov 24, 2008.
The fund's management style is passive, meaning it's aiming to replicate the performance of the underlying index by holding assets in the same proportions as the index. The goal is to match the index's returns.