ProShares Ultra Yen (YCL) Performance
YCL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −3.3% since Dec 31, 2025
- 1 year
- −9.6% total return
- 5 years
- −17.7% a year
- 10 years
- −12.6% a year
- Since first price
- −9.2% a year since 2008
YCL trailing returns vs SPY, QQQ, AGG
| Period | YCL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +2.0% | +2.0% | −1.0% | −5.0% | +0.9% |
| 3 months | +8.0% | +8.0% | +3.2% | +1.9% | −0.4% |
| 6 months | +1.8% | +1.8% | +7.8% | +8.4% | −1.5% |
| YTD | −3.3% | −3.3% | +12.3% | +15.1% | −1.0% |
| 1 year | −9.6% | −9.6% | +14.4% | +15.9% | −1.1% |
| 3 years | −25.9%−9.5%/yr | −25.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −62.3%−17.7%/yr | −62.3% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | −74.0%−12.6%/yr | −74.0% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −87.7%−13.0%/yr | −87.7% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionNov 25, 2008 | −82.1%−9.2%/yr | −82.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: YCL vs SPY
From Nov 25, 2008: YCL grew to $1,789, SPY to $122,925.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
YCL returns by calendar year
6 of 17 full years positive. Best 2010 (+25.2%), worst 2013 (−34.2%). 2026 is year to date.
YCL annual returns table
| Year | YCL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −3.3% | −15.3% | +12.3% | +15.1% | −1.0% |
| 2025 | −6.3% | −23.8% | +17.7% | +20.8% | +7.2% |
| 2024 | −26.0% | −26.3% | +24.9% | +25.6% | +1.3% |
| 2023 | −20.5% | −33.5% | +26.2% | +54.9% | +5.7% |
| 2022 | −26.9% | −44.4% | −18.2% | −32.6% | −13.0% |
| 2021 | −20.9% | −22.0% | +28.7% | +27.4% | −1.8% |
| 2020 | +7.2% | −15.8% | +18.3% | +48.6% | +7.5% |
| 2019 | −3.0% | −9.5% | +31.2% | +39.0% | +8.5% |
| 2018 | +0.2% | −18.6% | −4.6% | −0.1% | +0.1% |
| 2017 | +3.5% | −11.4% | +21.7% | +32.7% | +3.6% |
| 2016 | +1.5% | −29.4% | +12.0% | +7.1% | +2.4% |
| 2015 | −3.2% | −15.0% | +1.2% | +9.4% | +0.5% |
| 2014 | −24.1% | −31.8% | +13.5% | +19.2% | +6.0% |
| 2013 | −34.2% | −33.7% | +32.3% | +36.6% | −2.0% |
| 2012 | −22.5% | −23.8% | +16.0% | +18.1% | +3.8% |
| 2011 | +9.7% | −14.4% | +1.9% | +3.4% | +7.7% |
| 2010 | +25.2% | −12.9% | +15.1% | +19.9% | +6.4% |
| 2009 | −7.3% | −23.2% | +26.4% | +54.7% | +3.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
YCL largest drawdowns
Now 87.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 28, 2011 | −88.7% | Jul 28, 2026 | not yet | 14.7 years | 15.0 years so far |
| Dec 17, 2008 | −26.4% | Apr 6, 2009 | Aug 24, 2010 | 4 months | 1.7 years |
| Mar 17, 2011 | −14.4% | Apr 6, 2011 | Jul 20, 2011 | 20 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
YCL risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2008 |
|---|---|---|---|---|
| Annualized return | −9.9% | −18.5% | −13.1% | −9.3% |
| Volatility (annualized) | 19.7% | 21.3% | 17.6% | 18.8% |
| Sharpe ratio | -0.65 | -1.02 | -0.84 | -0.49 |
| Sortino ratio | -0.83 | -1.21 | -0.99 | -0.62 |
| Best month | +14.1% | +15.4% | +15.4% | +15.4% |
| Worst month | −10.6% | −12.3% | −16.0% | −16.0% |
| Best 12 months | +14.4% | +14.4% | +14.4% | +43.5% |
| Worst 12 months | −26.0% | −43.5% | −43.5% | −43.5% |
| Positive months | 42% | 40% | 43% | 47% |
| Beta vs S&P 500 | 0.31 | 0.38 | 0.14 | — |
| Correlation with S&P 500 | 0.19 | 0.28 | 0.13 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
YCL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 204 | −43.5% | −7.6% | +43.5% | 30% |
| 3-year (a year) | 180 | −28.2% | −9.3% | +12.3% | 17% |
| 5-year (a year) | 156 | −20.4% | −12.4% | +2.1% | 7% |
| 10-year (a year) | 96 | −14.6% | −9.7% | −5.2% | 0% |
Every holding period starting at a month-end since 2008. Returns for 3 years and longer are annualized.
YCL performance overview
ProShares Ultra Yen (YCL) returned −9.6% over the past year and −12.6% a year over ten years, with distributions reinvested. Since its first recorded price in 2008 it has returned −9.2% a year, turning $10,000 into about $1,789. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −88.7%, from Oct 28, 2011 to Jul 28, 2026; the fund has not yet regained that high. YCL finished 6 of its 17 full calendar years with a gain; the best year was 2010 (+25.2%) and the worst 2013 (−34.2%). Volatility has been 18.8% a year.
Related: YCL chart. See the YCL overview for the latest quote and fund facts.
YCL performance FAQ
What is the YCL return over the past year?
YCL returned −9.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 9.6%.
What is the average annual return of YCL?
YCL has returned −17.7% a year over 5 years, −12.6% a year over 10 years, −9.2% a year since November 25, 2008 (total return, distributions reinvested).
How much would $10,000 invested in YCL be worth?
$10,000 invested in YCL at its first recorded close on November 25, 2008 would be worth about $1,789 on October 23, 2026 with distributions reinvested.
What was the worst year for YCL?
The worst calendar year was 2013, with a total return of −34.2%. The best was 2010 at +25.2%.
What is the biggest drawdown of YCL?
The largest peak-to-trough decline was −88.7% between October 28, 2011 and July 28, 2026. It has not yet recovered to that high; it is 87.8% below its peak.
How volatile is YCL?
Over the past 3 years YCL had an annualized volatility of 19.7% and a Sharpe ratio of -0.65 (excess return over 1–3 month T-bills per unit of risk).