UltraShort Yen - YCS UltraShort Yen

ProShares UltraShort Yen seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the U.S. Dollar price of the yen.

This fund is not an investment company regulated under the Investment Company Act of 1940 and is not afforded its protections. Please read the prospectus carefully before investing.

This Short ProShares ETF seeks a return that is -2x the return of an index or other benchmark (target) for a single day, as measured from one NAV calculation to the next. Due to the compounding of daily returns, ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks. Investors should monitor their holdings consistent with their strategies, as frequently as daily. For more on correlation, leverage and other risks, please read the prospectus.

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Since this fund is treated as a partnership for tax purposes an investor's allocated portion of any income, gains, losses and deductions is reported on a Schedule K-1. That means investors do not receive a Form 1099-DIV. For more information, please read FAQs on Taxation for Volatility, Commodity, Currency and Managed Futures ProShares ETFs.

No distributions have been made for this fund.