Weekly Channel Summary
The Currency ETF channel, comprising 15 funds from 4 issuers, concluded the week with $2.60 billion in total assets under management. The channel experienced net outflows of $57 million over the past five days, trimming its year-to-date inflows. Despite the recent redemptions, year-to-date net flows remain positive at $312 million, and the one-year total stands at $291 million.
This Week’s Performance Leaders and Laggards
Short Yen strategies led performance for the week, gaining 1.54% and extending their year-to-date return to 8.90%. Long U.S. Dollar funds also posted positive returns, rising 0.79% for the week. On the other end of the spectrum, the multi-currency strategy was the weakest performer with a 1.27% decline, while funds tracking emerging market currencies and the Swiss Franc also finished the week lower.
Currency Performance Snapshot
| Currency | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Short: Yen | 1.54% | -4.27% | 2.80% | 8.37% | 8.90% | 27.14% |
| Long: USD | 0.79% | -1.44% | 1.28% | 3.94% | 3.28% | 5.43% |
| Long: AUD | -0.10% | 2.86% | 0.40% | 1.34% | 8.30% | 11.04% |
| Long: EUR | -0.58% | 1.51% | -0.09% | -0.96% | -0.34% | 0.49% |
| Long: GBP | -0.76% | 2.04% | 1.24% | 1.42% | 1.75% | 2.32% |
| Long: CAD | -0.79% | 1.63% | -0.69% | -1.69% | -1.06% | -0.79% |
| Short: USD | -0.82% | 2.02% | -0.19% | -1.19% | -0.27% | -0.19% |
| Long: Yen | -0.83% | 2.34% | -0.78% | -2.95% | -2.71% | -9.34% |
| Long: CHF | -1.00% | 1.27% | -3.18% | -5.19% | -2.40% | -1.39% |
| Long: Emerging | -1.11% | 0.92% | 1.77% | 1.69% | 4.77% | 8.55% |
| Long | Short: Multi | -1.27% | -4.04% | -4.56% | -3.72% | 5.92% | 11.04% |
Top & Bottom 5 ETFs by Weekly Performance
Leveraged short strategies against major currencies delivered the strongest returns this week. The ProShares UltraShort Euro (EUO) was the top-performing fund, gaining 1.62%, followed closely by the ProShares UltraShort Yen (YCS) with a 1.54% advance. Conversely, its leveraged long counterpart, the ProShares Ultra Euro (ULE), was the worst performer, falling 1.87%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| EUO | ProShares UltraShort Euro | 1.62% |
| YCS | ProShares UltraShort Yen | 1.54% |
| UUP | Invesco DB US Dollar Index Bullish Fund | 1.00% |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | 0.57% |
| FXA | Invesco CurrencyShares Australian Dollar Trust | -0.10% |
| Bottom Performers | ||
| ULE | ProShares Ultra Euro | -1.87% |
| YCL | ProShares Ultra Yen | -1.53% |
| FOXY | Simplify Currency Strategy ETF | -1.27% |
| CEW | WisdomTree Emerging Currency Strategy Fund | -1.11% |
| FXF | Invesco CurrencyShares Swiss Franc Trust | -1.00% |
Analyzing the Weekly Flows
The Currency channel recorded net outflows of $57 million for the week, primarily driven by significant redemptions from U.S. Dollar strategies. Long U.S. Dollar funds shed $66 million, completely overshadowing modest inflows elsewhere. The largest inflows were directed towards Long Euro funds, which collected $11 million, followed by smaller creations in Swiss Franc and Canadian Dollar products.
Currency Flows Summary
| Currency | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Long: EUR | 3 | $408M | $11M | $25M | -$41M | -$52M | -$160M |
| Long: CHF | 1 | $388M | $5M | -$16M | -$88M | $3M | $20M |
| Long: CAD | 1 | $67M | $4M | -$4M | -$7M | -$7M | -$24M |
| Short: USD | 1 | $103M | $2M | -$6M | -$21M | -$35M | -$38M |
| Long | Short: Multi | 1 | $355M | $0M | $4M | $63M | $320M | $355M |
| Long: AUD | 1 | $96M | $0M | -$3M | -$10M | $3M | $10M |
| Long: Emerging | 1 | $18M | $0M | $0M | $2M | $4M | $8M |
| Long: GBP | 1 | $65M | $0M | $0M | -$13M | -$12M | -$25M |
| Short: Yen | 1 | $27M | $0M | -$3M | -$3M | -$10M | -$13M |
| Long: Yen | 2 | $492M | -$12M | $1M | $11M | -$31M | -$87M |
| Long: USD | 2 | $576M | -$66M | -$302M | -$186M | $128M | $246M |
Top & Bottom 5 ETFs by 5-Day Flow
Investor sentiment was divided at the fund level, with outflows concentrated in two key products. The Invesco CurrencyShares Euro Trust (FXE) was the week’s inflow leader, attracting $11 million in new assets. In contrast, significant redemptions hit U.S. dollar funds, with the WisdomTree Bloomberg US Dollar Bullish Fund (USDU) losing $52 million and the Invesco DB US Dollar Index Bullish Fund (UUP) shedding $14 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| FXE | Invesco CurrencyShares Euro Trust | $11M |
| FXF | Invesco CurrencyShares Swiss Franc Trust | $5M |
| FXC | Invesco CurrencyShares Canadian Dollar Trust | $4M |
| UDN | Invesco DB US Dollar Index Bearish Fund | $2M |
| FOXY | Simplify Currency Strategy ETF | $0M |
| Outflows | ||
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | -$52M |
| UUP | Invesco DB US Dollar Index Bullish Fund | -$14M |
| FXY | Invesco Currencyshares Japanese Yen Trust | -$12M |
| YCL | ProShares Ultra Yen | -$1M |
| FOXY | Simplify Currency Strategy ETF | $0M |
Issuer League Table Update
Invesco continues to dominate the Currency ETF landscape, commanding a 71.19% market share with $1.85 billion in assets, while Simplify holds the second position at 13.69%. This week, no issuer managed to attract net positive flows into their currency products. WisdomTree experienced the largest outflows, with redemptions totaling $52 million, followed by Invesco which saw net outflows of $4 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Invesco | 8 | $1.85B | 71.19% |
| Simplify | 1 | $355M | 13.69% |
| WisdomTree | 2 | $297M | 11.43% |
| ProShares | 4 | $96M | 3.69% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Simplify | $0M |
| ProShares | -$1M |
| Invesco | -$4M |
| Outflows | |
| WisdomTree | -$52M |
| Invesco | -$4M |
| ProShares | -$1M |
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.
