# Citigroup ETNs linked to the VelocityShares Daily 4X Long JPY vs. USD Index (UJPY): ETN Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/ujpy for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: VelocityShares · Asset class: Equity - Strategy: Options Income · Inception: 2017-12-12 The investment seeks to track the daily performance of the VelocityShares Daily 4X Long JPY vs. USD Index. The index is designed to provide 4 times leveraged exposure, reset daily, to changes in the spot exchange rate between an underlying pair of currencies consisting of the U.S. dollar and a foreign currency. It provides long exposure to one currency (the “long currency”) in the underlying currency pair relative to the other currency (the “reference currency”). The fund is non-diversified. ## Key Facts | Metric | Value | |---|---| | Price | $25.47 | | Expense Ratio | 1.50% | | Assets Under Management | $1.1M | | NAV | $25.43 | | Holdings Count | 0 | | Distribution Yield (TTM) | — | | Annual Distribution (TTM) | — /share | | Distribution Frequency | — | | 52-Week Range | $20.25 – $30.22 | | Beta | 0.00 | ## Frequently Asked Questions ### What does UJPY invest in? The investment seeks to track the daily performance of the VelocityShares Daily 4X Long JPY vs. USD Index. The index is designed to provide 4 times leveraged exposure, reset daily, to changes in the spot exchange rate between an underlying pair of currencies consisting of the U.S. dollar and a foreign currency. It provides long exposure to one currency (the “long currency”) in the underlying currency pair relative to the other currency (the “reference currency”). The fund is non-diversified. ### What is the expense ratio of UJPY? Citigroup ETNs linked to the VelocityShares Daily 4X Long JPY vs. USD Index (UJPY) charges an expense ratio of 1.50%. This is the annual fee deducted from fund assets to cover management and operations. ### What is UJPY's distribution yield? UJPY's trailing-twelve-month yield is —, calculated from the sum of distributions over the past year divided by the current price. ### How does UJPY's covered-call strategy work? UJPY sells call options against the stocks (or index) it holds, collecting premium income that gets passed through to shareholders as distributions. The strategy generates above-market income in flat or rising markets but caps upside. When the underlying rallies past the strike, the gains above the strike go to the option buyer, not the fund. ### How big is UJPY? Citigroup ETNs linked to the VelocityShares Daily 4X Long JPY vs. USD Index (UJPY) manages $1.1M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is UJPY actively managed or an index fund? UJPY's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### Does UJPY pay a distribution? Yes, Citigroup ETNs linked to the VelocityShares Daily 4X Long JPY vs. USD Index (UJPY) distributes distributions to shareholders. The trailing-twelve-month yield is —. Full distribution history is on this page. ### How often does UJPY pay distributions? Citigroup ETNs linked to the VelocityShares Daily 4X Long JPY vs. USD Index pays distributions on its published schedule. Each ex-dividend date, record date, and payment date is listed in the distribution history table on this page. ### When is UJPY's next ex-distribution date? UJPY hasn't announced its next ex-date yet. Once declared it'll appear at the top of the distribution history table on this page. ### Is UJPY's distribution sustainable? Covered-call ETNs like UJPY fund their distributions from option premium income. Sustainability depends on (1) whether option premiums stay high enough to cover the announced rate, and (2) whether NAV holds up over time. The NAV Erosion section on this page contrasts total return with price change since inception. If distributions consistently exceed total return, the fund is paying out capital rather than income. ### How much will UJPY's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 1.50% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does UJPY charge its expense ratio? The expense ratio is deducted in tiny daily slices from UJPY's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does UJPY cost more than a fund like VOO? UJPY is an options-income fund (current expense ratio 1.50%). Covered-call and 0DTE strategies require active option-writing, daily rebalancing, and dedicated risk management. They cost more than passive equity funds. The Cost Verdict card compares UJPY against the options-income cohort, not VOO. ### Are UJPY's distributions taxed at ordinary income or qualified-dividend rates? UJPY's option-premium distributions are typically classified as ordinary income (NOT the qualified-dividend rate), so they're taxed at your marginal federal rate plus state. For a 24% bracket investor that's roughly 2x the 15% long-term capital gains rate most dividend investors are used to. The Fee Compounding Forecast card above lets you layer in this tax drag alongside the fund fee. Consult a tax advisor. This is not tax advice. ### Are there cheaper alternatives to UJPY? The Lower-Fee Alternatives card above lists ETNs following the same investment strategy as UJPY (1.50%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/ujpy - Distribution history: https://www.dividenddata.com/funds/ujpy/dividend - Holdings & diversification: https://www.dividenddata.com/funds/ujpy/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/ujpy/expenses - Peer comparison: https://www.dividenddata.com/funds/ujpy/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.