Weekly Channel Summary
The Currency ETF channel, comprising 15 ETFs from 4 issuers, holds total assets of $2.66 billion. The channel experienced net outflows of $26 million for the week. Despite the recent redemptions, year-to-date flows remain positive at $369 million, consistent with the one-year total of $336 million in net new assets.
This Week’s Performance Leaders and Laggards
Gains were widespread across most foreign currency categories, led by funds tracking the Swiss Franc which rose 1.56% for the week. Long Australian Dollar strategies also performed well, gaining 1.31%. On the other end of the spectrum, funds with long exposure to the U.S. Dollar were the primary laggards, declining by 0.66% over the same period.
Currency Performance Snapshot
| Currency | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long: CHF | 1.56% | 1.48% | -1.93% | -3.47% | -1.42% | 0.52% |
| Long: AUD | 1.31% | 2.59% | 0.63% | 1.98% | 8.40% | 13.07% |
| Long: Emerging | 1.16% | 2.44% | 3.28% | 3.06% | 5.95% | 10.50% |
| Short: USD | 0.88% | 2.63% | 0.85% | -0.16% | 0.55% | 1.50% |
| Long: GBP | 0.86% | 2.13% | 2.10% | 2.30% | 2.53% | 3.89% |
| Long: CAD | 0.79% | 2.47% | 0.07% | -0.71% | -0.27% | 1.14% |
| Long: EUR | 0.74% | 2.02% | 0.71% | -0.14% | 0.25% | 1.61% |
| Long: Yen | 0.22% | 2.78% | -0.18% | -2.95% | -1.91% | -7.62% |
| Short: Yen | -0.29% | -4.63% | 1.66% | 8.57% | 7.25% | 24.11% |
| Long | Short: Multi | -0.63% | -4.17% | -3.20% | -2.24% | 7.29% | 12.89% |
| Long: USD | -0.66% | -1.95% | 0.46% | 2.61% | 2.42% | 3.72% |
Top & Bottom 5 ETFs by Weekly Performance
The leveraged ProShares Ultra Euro (ULE) was the week’s top-performing currency ETF, climbing 2.24%. Among non-leveraged products, the Invesco CurrencyShares Swiss Franc Trust (FXF) posted a strong gain of 1.56%. Conversely, funds betting against the Euro and for the U.S. Dollar struggled, with the ProShares UltraShort Euro (EUO) falling 1.81%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| ULE | ProShares Ultra Euro | 2.24% |
| FXF | Invesco CurrencyShares Swiss Franc Trust | 1.56% |
| FXA | Invesco CurrencyShares Australian Dollar Trust | 1.31% |
| CEW | WisdomTree Emerging Currency Strategy Fund | 1.16% |
| FXE | Invesco CurrencyShares Euro Trust | 0.95% |
| Bottom Performers | ||
| EUO | ProShares UltraShort Euro | -1.81% |
| UUP | Invesco DB US Dollar Index Bullish Fund | -0.75% |
| FOXY | Simplify Currency Strategy ETF | -0.63% |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | -0.57% |
| YCS | ProShares UltraShort Yen | -0.29% |
Analyzing the Weekly Flows
The currency channel saw modest net outflows of $26 million for the week, reversing some of the strong year-to-date inflows. Strategies with long exposure to the Euro attracted the most new capital, pulling in $16 million. In contrast, funds tracking the U.S. Dollar experienced the largest redemptions, shedding $34 million in assets.
Currency Flows Summary
| Currency | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Long: EUR | 3 | $398M | $16M | -$1M | -$52M | -$63M | -$160M |
| Long: Yen | 2 | $495M | $6M | $25M | $23M | -$19M | -$75M |
| Long | Short: Multi | 1 | $362M | $3M | $11M | $65M | $320M | $356M |
| Long: AUD | 1 | $95M | $0M | -$3M | -$10M | $3M | $10M |
| Long: Emerging | 1 | $18M | $0M | $2M | $2M | $4M | $8M |
| Long: GBP | 1 | $66M | $0M | -$13M | -$13M | -$12M | -$25M |
| Short: USD | 1 | $102M | $0M | -$8M | -$24M | -$37M | -$43M |
| Short: Yen | 1 | $30M | -$3M | -$3M | -$3M | -$10M | -$13M |
| Long: CAD | 1 | $64M | -$4M | -$7M | -$11M | -$10M | -$28M |
| Long: CHF | 1 | $386M | -$11M | -$32M | -$93M | -$2M | $9M |
| Long: USD | 2 | $641M | -$34M | -$247M | -$94M | $195M | $296M |
Top & Bottom 5 ETFs by 5-Day Flow
The Invesco CurrencyShares Euro Trust (FXE) led all funds, securing $16 million in net inflows. On the other hand, outflows were concentrated in U.S. Dollar and Swiss Franc funds. The Invesco DB US Dollar Index Bullish Fund (UUP) saw the largest redemptions at $24 million, followed by the Invesco CurrencyShares Swiss Franc Trust (FXF) which shed $11 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| FXE | Invesco CurrencyShares Euro Trust | $16M |
| FXY | Invesco Currencyshares Japanese Yen Trust | $6M |
| FOXY | Simplify Currency Strategy ETF | $3M |
| UDN | Invesco DB US Dollar Index Bearish Fund | $0M |
| FXA | Invesco CurrencyShares Australian Dollar Trust | $0M |
| Outflows | ||
| UUP | Invesco DB US Dollar Index Bullish Fund | -$24M |
| FXF | Invesco CurrencyShares Swiss Franc Trust | -$11M |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | -$11M |
| FXC | Invesco CurrencyShares Canadian Dollar Trust | -$4M |
| YCS | ProShares UltraShort Yen | -$3M |
Issuer League Table Update
Invesco continues to dominate the currency ETF landscape, commanding a 69.50% market share, while Simplify holds the second position with 13.63% of assets. Simplify was the only issuer to record net inflows for the week, gathering $3 million. Invesco experienced the largest net outflows among the group, with investors pulling $16 million from its funds.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Invesco | 8 | $1.85B | 69.50% |
| Simplify | 1 | $362M | 13.63% |
| WisdomTree | 2 | $349M | 13.13% |
| ProShares | 4 | $99M | 3.74% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Simplify | $3M |
| ProShares | -$3M |
| WisdomTree | -$11M |
| Outflows | |
| Invesco | -$16M |
| WisdomTree | -$11M |
| ProShares | -$3M |
For a deeper dive into these trends, access our FREE, in-depth Currency ETF reports in the right side panel of this page.
Disclosures
This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.
This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.
