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YCL

Ultra Yen

Investment Objective

ProShares Ultra Yen seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the price of the Japanese yen versus the U.S. dollar.

How to buy
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Important Considerations

This leveraged ProShares ETF seeks a return that is 2x the return of its underlying benchmark (target) for a single day, as measured from one NAV calculation to the next.

Due to the compounding of daily returns, holding periods of greater than one day can result in returns that are significantly different than the target return, and 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 as frequently as daily. Investors should consult the prospectus for further details on the calculation of the returns and the risks associated with investing in this product.

Common uses for magnified exposure

  • Seeking magnified gains (will also magnify losses)

  • Getting a target level of exposure for less cash

  • Overweighting a market segment without additional cash

Documents & Downloads
Fund Fact Sheet
This links to a pdf file This link opens a new window
ProShares Trust II Prospectus
This links to a pdf file This link opens a new window
Trust II Annual Report
This links to a pdf file This link opens a new window
NAV History
This links to a pdf file This link opens a new window
Monthly Account Statements

You may order paper copies by contacting ProShares Client Services at 866-PRO-5125 (866-776-5125)

Performance

Daily Return during Q3 2023

Chart is updated nightly to reflect the more recent of the previous day's market closing price or the closing price on the day the fund was last traded.

Total Return

Month-End Total Returns as of 8/31/2023
Fund + Index 1m 3m 6m YTD 1Y 3Y 5Y 10Y Since Inception Inception Date
YCL Market Price -4.68% -9.96% -15.77% -22.86% -15.93% -22.51% -14.14% -11.01% -8.56% 11/24/2008
YCL NAV -5.05% -10.24% -16.11% -23.10% -16.20% -22.61% -14.17% -11.11% -8.59% 11/24/2008

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Market price returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. ET (when NAV is normally determined for most funds) and do not represent the returns you would receive if you traded shares at other times. Your brokerage commissions will reduce returns. Current performance may be lower or higher than the performance quoted. For standardized returns and performance data current to the most recent month end, see above.

About the Fund

Snapshot
  • Ticker YCL
  • Intraday Ticker YCL.IV
  • CUSIP 74347W270
  • Inception Date 11/24/08
  • Gross Expense Ratio
  • Net Expense Ratio 0.95%
  • NAV Calculation Time 4:00 p.m. ET
  • Distributions Quarterly
Price
as of 9/29/2023
  • NAV $25.01
  • NAV Change $-0.08 down caret
  • Market Price $25.00
  • Market Price Change $-0.15 down caret
  • Trading Volume (M) 58,210
  • 30-Day Median Bid Ask Spread 0.12%
  • View Premium / Discount
Snapshot
  • Ticker YCL
  • Intraday Ticker YCL.IV
  • CUSIP 74347W270
  • Inception Date 11/24/08
  • Expense Ratio 0.95%
  • Gross Expense Ratio
  • NAV Calculation Time 4:00 p.m. ET
  • Distributions Quarterly
Price
as of 9/29/2023
  • NAV $25.01
  • NAV Change $-0.08 down caret
  • Market Price $25.00
  • Market Price Change $-0.15 down caret
  • Trading Volume (M) 58,210
  • 30-Day Median Bid Ask Spread 0.12%
  • View Premium / Discount

Holdings

as of 9/29/2023

Exposure Weight Ticker Description Exposure Value
(Notional + GL)		 Market Value Shares/Contracts SEDOL Number
110.17% -- YEN/US DOLLAR FORWARD - UBS 19,277,413 -- 2,878,727,856 --
76.46% -- YEN/US DOLLAR FORWARD - GOLDMAN SACHS 13,379,689 -- 1,998,011,056 --
13.69% -- *BLANK 2,395,427 -- 357,713,000 --
-- -- NET OTHER ASSETS / CASH -- $17,498,472.43 17,498,472 --
Download Holdings (.csv)This links to a pdf fileThis link opens a new window

Index

About the Index

The yen benchmark is the 4:00 p.m. ET yen in U.S. dollar terms (JPY/USD cross rate) as published by Bloomberg.

Distributions

Portfolio Hedging Series

Part I: The Significance of Portfolio Hedging

Investing involves risk. Market downturns will happen. Having a sound investment strategy can help smooth out the turbulence in your portfolio and save you from getting caught up in a herd mentality of selling low into a down market.
Read More

Part II: Strategies for Hedging Your Portfolio

Part III: The Efficacy of Hedging with Inverse ETFs
Get the latest perspectives and updates.

For the total return table above, since inception returns are cumulative for funds less than one year old; otherwise, returns are annualized. Market returns are based on the composite closing price and do not represent the returns you would receive if you traded shares at other times. The listing date is typically one or more days after the fund inception date. Therefore, NAV is used to calculate market returns prior to the listing date.

The expense ratio for certain funds includes a contractual fee waiver that results in a lower net expense ratio for some or all periods shown. For information about this ETF’s fees, please see above.

Expense ratio does not include brokerage commissions and related fees paid by the fund.

Holdings are subject to change. ProShares may invest in financial instruments (including derivatives) that, in combination, should have daily price return characteristics similar to the fund's benchmark.

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 leveraged ProShares ETF seeks a return that is 2x the return of its underlying benchmark (target) for a single day, as measured from one NAV calculation to the next. Due to the compounding of daily returns, holding periods of greater than one day can result in returns that are significantly different than the target return, and 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 as frequently as daily. Investors should consult the prospectus for further details on the calculation of the returns and the risks associated with investing in this product.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Market price returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. ET (when NAV is normally determined for most funds) and do not represent the returns you would receive if you traded shares at other times. Your brokerage commissions will reduce returns. Current performance may be lower or higher than the performance quoted. For standardized returns and performance data current to the most recent month end, see above.

There is no guarantee that capital gain distributions will not be made in the future. There is no guarantee that dividends or interest income will be paid.

There is no guarantee any ProShares ETF will achieve its investment objective.

Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. Your brokerage commissions will reduce returns.

Investing involves risk, including the possible loss of principal. Leveraged ProShares ETFs are non-diversified and entail certain risks, including risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. Please see their summary and full prospectuses for a more complete description of risks.

This fund generates a K-1 tax form.

Certain derivative instruments will subject the fund to counterparty risk and credit risk, which could result in significant losses for the fund.

There are additional risks due to debt levels in the underlying countries, inflation and interest rates, investment activity, global political and economic concerns, sovereign action to set or restrict currency conversion, monetary policies of central banks within the U.S. and non-U.S. markets, overall growth and performance of the economies of the relevant countries, and potential liquidity and/or pricing effects of European markets being closed on a day when U.S. markets are open.

ProShares Trust II is a commodity pool as defined in the Commodity Exchange Act and the applicable regulations of the CFTC. ProShare Capital Management LLC is the Trust Sponsor and commodity pool operator (CPO). The Sponsor is registered as a CPO with the CFTC, and is a member of the NFA. Neither this ETF nor ProShares Trust II is an investment company regulated under the Investment Company Act of 1940 and neither is afforded its protections.

Investing in ETFs involves a substantial risk of loss.

This information must be accompanied or preceded by a current ProShares Trust II prospectus.

Quote data provided by Interactive Data - Real Time Services, Inc. and subject to terms of use.

ProShares ETFs (ProShares Trust and ProShares Trust II) are distributed by SEI Investments Distribution Co., which is not affiliated with the funds' advisor or sponsor.

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