ProShares Double Long Yen ETF
Among the few leveraged currency ETFs available is the Proshares Ultra Yen currency ETF (Symbol: YCL). The YCL double long Yen ETF seeks to replicate double (2x) the daily performance of the Japanese Yen in U.S. Dollar terms (JPY/USD cross rate), before fees and expenses, as published in The Wall Street Journal's Money & Investing section every day. Hence, its NAV calculation time is 4 PM EST.
It is important to note that the YCL double long Yen ETF seeks to replicate the daily movement in the Yen and not over an extended period of time. Because YCL invests in various financial instruments (currency futures contracts, forward contracts, and option contracts) and because of the need to roll these contracts periodically, actual performance compared to the change in the price of the Japanese Yen may not be identical to a 200% move. Also, because of the leveraged nature of the YCL ETF, some stock brokers may impose higher margin requirements for this type of Yen Exchange Traded Fund.
The ProShares Ultra Yen Currency ETF (YCL) vital stats:
Exchange: NYSE Arca
Expense Ratio: 0.95%
Dividend Distribution: None
NAV or AUM: ~$3 Million
Options Available: Yes
Inception Date: 11/24/2008
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