Key stats
About ProShares Ultra Yen
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Inception date
Nov 24, 2008
Structure
Commodities Pool
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.
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.
Classification
Geography
Japan
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Cash
Bonds, Cash & Other100.00%
Cash100.00%
Top 10 holdings
Dividends
Dividend payout history