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YCSProShares UltraShort Yen

Take a bet17y track recordRanked #301 of 948 in this goal

Seeks daily investment results equal to -2x the daily performance of the Japanese yen spot price versus the U.S. dollar.

By ProShares · Launched 2008

Annual Cost

0.98%

#5,063 of 5,853 · expensive

Fund Size

$31M

#4,128 of 5,853 · small

Return (1Y)Goal

+21.7%

Track Record

17 years

#623 of 5,853 · established

Performance

Total-return NAV · USD
Growth of $10,000
$13,582+35.8%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Currency

Strategy

Inverse

What it actually holds

By weight

Concentration

synthetic exposure — holdings shown are derivatives collateral, not the fund's positions

ProShares GENIUS Money Market ETFIQMM
22.6%

Asset allocation

Cash
100.0%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
16.9%Moderate

Year-on-year price swings

Max drawdown
-27.3%Moderate

Worst peak-to-trough loss

Sharpe (3Y)
0.77Decent risk-adjusted returns
Sortino (3Y)
1.05Good downside protection

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks daily investment results equal to -2x the daily performance of the Japanese yen spot price versus the U.S. dollar.
Strategy
Seeks two times the inverse (-2x) of the daily change in the Japanese yen/U.S. dollar spot exchange rate via Financial Instruments — swap agreements, futures and forward contracts — based on its currency benchmark; does not hold yen directly and posts U.S. Treasuries as collateral. Daily reset means returns over periods longer than one day diverge from -2x the period's currency move.
Inception date
November 24, 2008
Fund family
ProShares

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Inverse
Warning

You can be right and still lose

This fund returns the opposite of its benchmark's daily move, then resets. Hold it longer and the daily compounding takes over: the market can move your way over a week and you still finish down. It works as a one-day hedge and nothing beyond that.

Sources: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-02