YCS ETF — Holdings & Analysis

With an expense ratio of 0.95%, YCS employs a leveraged strategy to achieve its investment objective, primarily investing in cash and money market instruments. Past performance does not guarantee future results.

ProShares - UltraShort Yen (YCS) ETF — Price, Holdings & Analysis

The ProShares UltraShort Yen (YCS) is an alternatives ETF with $0.03 billion in assets under management. Launched in 2008, YCS seeks to deliver twice the inverse of the daily performance of the Japanese Yen relative to the U.S. dollar. With an expense ratio of 0.95%, YCS employs a leveraged strategy to achieve its investment objective, primarily investing in cash and money market instruments. Past performance does not guarantee future results.

ETF Overview

ProShares UltraShort Yen seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the price of the Japanese yen versus the U.S. dollar.

The ProShares UltraShort Yen (YCS) aims to provide daily investment results, before fees and expenses, corresponding to two times the inverse (-2x) of the daily performance of the Japanese yen versus the U.S. dollar. This ETF is designed for investors seeking to profit from a weakening Japanese yen relative to the U.S. dollar. YCS achieves its objective through investments primarily in cash and money market instruments. A significant portion of its holdings is allocated to the ProShares GENIUS Money Market ETF (IQMM), representing 25.11% of the fund. The fund's sector allocation is entirely in Cash & Others (100.0%), reflecting its strategy of using financial instruments to achieve its leveraged inverse exposure. YCS is not a diversified fund and is designed for short-term trading rather than long-term investment. Past performance does not guarantee future results.

Risk Metrics

The ProShares UltraShort Yen (YCS) carries a high level of risk due to its leveraged inverse strategy. Its beta of -35.47 (3Y) indicates a strong inverse correlation to the Japanese Yen, meaning it is highly sensitive to currency fluctuations. The fund's concentration in a single sector, Cash & Others (100.0%), further amplifies risk, as any adverse movements in the currency market could significantly impact its performance. The expense ratio of 0.95% is relatively high, which can erode returns, especially in a volatile market. The fund's small AUM of $0.03 billion may also present liquidity risks. Investors should be aware that YCS is designed for short-term tactical plays and not for long-term investment strategies. Past performance does not guarantee future results.

Expense Ratio

0.95%

What does YCS hold?

Holding	Weight
ProShares GENIUS Money Market ETF (IQMM)	25.11%

How Is the Fund Allocated?

Sector	Weight
Cash & Others	100.0%

Country	Weight
Other	100.0%

Dividend Yield

0.00%

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Risk Metrics

Beta: -35.47

Questions & Answers

What is YCS and what does it track?

ProShares UltraShort Yen (YCS) is an exchange-traded fund (ETF) designed to provide daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the price of the Japanese yen versus the…

U.S. dollar. This means that YCS aims to increase in value when the Japanese yen weakens relative to the U.S.

What is the expense ratio for YCS?

The expense ratio for the ProShares UltraShort Yen (YCS) is 0.95%. This means that for every $1000 invested in the fund, $9.50 is used to cover the fund's operating expenses annually.

While there isn't a specific 'alternatives' category average for leveraged currency ETFs, this expense ratio is relatively high compared to broad market ETFs.

What are the top holdings in YCS?

As of 2026-03-15, the top holding in the ProShares UltraShort Yen (YCS) is the ProShares GENIUS Money Market ETF (IQMM), with a weighting of 25.11%.

The remaining holdings are not explicitly detailed, but the fund's sector allocation indicates that 100% of its assets are in Cash & Others.

Is YCS a good long-term investment?

The ProShares UltraShort Yen (YCS) is generally not considered a suitable long-term investment. Its design aims for twice the inverse of the daily performance of the Japanese Yen versus the U.S. dollar, making it a short-term tactical tool.

How does YCS compare to similar ETFs?

The ProShares UltraShort Yen (YCS) is unique in its specific focus on providing twice the inverse daily performance of the Japanese Yen against the U.S. dollar.

While other currency ETFs exist, few offer the same leveraged inverse exposure to this particular currency pair.

Does YCS pay dividends?

As of 2026-03-15, the ProShares UltraShort Yen (YCS) does not pay dividends. Its dividend yield is 0.00%.

This is consistent with its investment strategy, which focuses on providing leveraged inverse exposure to the daily performance of the Japanese Yen rather than generating income. Investors seeking dividend income should consider other investment options that prioritize dividend payments. Past performance does not guarantee future results.