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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:
Symbol: YCL
Exchange: NYSE Arca
Options: No
Expense Ratio: 0.95%
Dividend Distribution: None
NAV or AUM: ~$3 Million
Options Available: Yes
CUSIP: 74347W866
Inception Date: 11/24/2008
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