Share-split context: This ETF has both forward- and reverse-split history. The most recent recorded event was on Nov 7, 2024 with coefficient 2. Current price-return figures are already split-adjusted. Forward splits receive no automatic performance penalty; reverse-split history remains a separate structural warning.

What this ETF is trying to do

The ProShares UltraShort Yen -2x Shares (YCS) is a specialized type of fund. It is both "leveraged" and "inverse." This means it is designed to move in the opposite direction of the Japanese Yen, and it aims to multiply that movement by two. It is not a traditional fund meant for long-term holding, but rather a tool for specific trading strategies.

What the numbers show

Because this ETF has a history of share splits, we look at split-adjusted returns to see how it has performed. These numbers account for changes in the number of shares to give a clearer picture of price movement.

• Year-to-Date (YTD): The price return and total return are both approximately 6.75%.

• One Year: The price return and total return are both approximately 15.85%.

• Three Year: The price return and total return are both approximately 44.41%.

• Five Year: The total return is approximately 177.42%.

The current price as of October 7, 2026, is $54.33.

Income and distribution explanation

This ETF does not currently provide regular cash payments to investors. The distribution yield is 0%, and there have been no payouts in the last 12 months. For investors who look for "income" (cash paid out by a fund), this ETF does not provide that feature.

NAV erosion explanation

"NAV erosion" happens when the value of a fund's underlying assets wears away over time, often seen in some leveraged funds. StockValueFinder uses an erosion-risk score to measure this.

YCS has an erosion score of 100, and the erosion severity is listed as "good." The data shows "No price erosion detected," and the severe erosion-risk flag is false.

Share Split History

This ETF has a "mixed" split history, meaning it has had both forward and reverse splits.

• Forward Split: This is when one old share becomes multiple new shares, and the price per share drops proportionally.

• Reverse Split: This is when multiple old shares are combined into fewer new shares, and the price per share rises mechanically.

The most recent event was on November 7, 2024, with a coefficient of 2. These splits change the number of shares you own and the price per share, but they do not create a gain or loss by themselves.

Pros

• The split-adjusted price returns have been positive over the one-year, three-year, and five-year periods.

• There is currently no detected price erosion.

Cons

• It provides no cash distributions or income.

• As a leveraged and inverse fund, it is more complex than a standard ETF.

Beginner takeaway

YCS is a high-complexity tool used to bet against the Japanese Yen with extra power (leverage). While the split-adjusted returns have been positive over several timeframes, it does not pay any income. New investors should remember that high returns in the past do not guarantee future results.