YCL ETF — ProShares Ultra Yen

ProShares Ultra Yen (YCL)

Updated October 16, 2026.

YCL is an ETF. its expense ratio is 0.98%. Total return is -82.4% over the past 17.9 years, 1217.0 points behind SPY at 1134.6%.

ProShares Ultra Yen is an ETF that seeks to deliver twice the daily performance of the Japanese yen relative to the U.S. dollar through leveraged financial instruments and derivatives. The fund does not distribute income to shareholders, and carries an expense ratio of 0.98%. It appeals to traders and currency speculators seeking amplified exposure to yen appreciation in the near term, rather than traditional income or long-term investors.

YCL performance versus SPY

Price and return data through 2026-10-16.

Total return is -82.4% over the past 17.9 years, 1217.0 points behind SPY at 1134.6%. Over the past year its total return — price change plus distributions reinvested — is -13.7%. Its deepest 1-year drawdown was 18.7%.

YCL key facts

Issuer

ProShares

Asset type

ETF

Asset class

Equity

Inception date

11/24/2008

Expense ratio

0.98%

Distribution frequency

None

Last close

$18.10 (as of 2026-10-16)

AUM

$30,027,671

Average volume

11164.0

Beta

9.88

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: ProShares; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

YCL risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 18.7%.

Who may consider YCL — and who may not

It is a weaker fit for investors who need monthly cash flow (YCL does not currently distribute); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on YCL

• All tickers starting with Y

Tagged: Leverage.

Frequently asked questions

More securities from ProShares.