Weekly Channel Summary
The Currency channel held $2.60B in total AUM across 15 ETFs from 4 issuers. Weekly net flows were positive at $29M, bringing the YTD total to $344M and the 1-Year total to $411M, reflecting a steady, if modest, accumulation trend over the trailing year.
This Week’s Performance Leaders and Laggards
On a WTD basis, the Long | Short: Multi category topped the leaderboard with a 1.18% gain, followed by Short: Yen at 0.77%, while Long: Yen (n=2) lagged at -0.31%. The Long | Short: Multi segment also carries the strongest YTD return among categories at 8.20%, and Short: Yen posted an even stronger 1-Year gain of 14.19%. Among individual funds, FOXY led the week with a 1.18% advance, followed closely by EUO at 1.02%. On the downside, ULE was the weakest performer, falling 1.21%, consistent with broader euro-long weakness seen across the EUR category.
Currency Performance Snapshot
| Currency | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long | Short: Multi | 1.18% | -0.42% | -4.76% | -1.05% | 8.20% | 8.64% |
| Short: Yen | 0.77% | 6.71% | -3.63% | 2.09% | 7.13% | 14.19% |
| Long: Emerging | 0.52% | -2.32% | 1.42% | 1.27% | 3.89% | 6.99% |
| Long: USD | 0.43% | 3.76% | 2.10% | 5.21% | 6.54% | 6.37% |
| Long: AUD | 0.42% | -3.08% | 1.08% | -0.71% | 5.78% | 7.98% |
| Long: GBP | 0.01% | -2.09% | -0.73% | -0.43% | -0.22% | 1.70% |
| Long: CAD | -0.07% | -3.18% | -0.69% | -3.10% | -3.69% | -1.56% |
| Long: CHF | -0.15% | -2.45% | -2.86% | -5.00% | -4.96% | -3.31% |
| Long: EUR | -0.27% | -2.27% | -0.90% | -2.12% | -2.03% | -0.76% |
| Short: USD | -0.28% | -3.27% | -0.78% | -2.52% | -2.58% | -0.97% |
| Long: Yen | -0.31% | -3.19% | 2.63% | 0.28% | -1.53% | -4.07% |
Top & Bottom 5 ETFs by Weekly Performance
The top five funds by WTD performance spanned diverse currency exposures, with FOXY and EUO leading at 1.18% and 1.02% respectively, followed by YCS at 0.77%. CEW and UUP rounded out the top five with gains of 0.52% and 0.45%. On the bottom end, ULE declined 1.21%, while YCL and FXE also lagged, down 0.55% and 0.43% respectively. These moves highlight a week where dollar-bullish and inverse-euro/yen strategies outperformed, while long-yen and long-euro exposures underperformed.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| FOXY | Simplify Currency Strategy ETF | 1.18% |
| EUO | ProShares UltraShort Euro | 1.02% |
| YCS | ProShares UltraShort Yen | 0.77% |
| CEW | WisdomTree Emerging Currency Strategy Fund | 0.52% |
| UUP | Invesco DB US Dollar Index Bullish Fund | 0.45% |
| Bottom Performers | ||
| ULE | ProShares Ultra Euro | -1.21% |
| YCL | ProShares Ultra Yen | -0.55% |
| FXE | Invesco CurrencyShares Euro Trust | -0.43% |
| FXY | Invesco Currencyshares Japanese Yen Trust | -0.29% |
| UDN | Invesco DB US Dollar Index Bearish Fund | -0.28% |
Analyzing the Weekly Flows
The channel recorded a net inflow of $29M for the week. Long: USD led all categories with $38M of inflows, pushing its YTD total to $309M, while Long: GBP added a modest $6M. On the outflow side, Long: Yen (n=2) saw the largest weekly redemption at $9M, followed by Long: EUR at $6M, continuing a pattern of YTD outflows of $95M for the euro category. The Long | Short: Multi segment was essentially flat for the week but retains a strong $182M YTD inflow figure.
Currency Flows Summary
| Currency | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Long: USD | 2 | $778M | $38M | $162M | -$125M | $309M | $427M |
| Long: GBP | 1 | $102M | $6M | $39M | $26M | $26M | $20M |
| Long | Short: Multi | 1 | $213M | $0M | -$140M | -$119M | $182M | $211M |
| Long: AUD | 1 | $93M | $0M | $0M | -$7M | $3M | $13M |
| Long: CAD | 1 | $65M | $0M | -$4M | -$14M | -$7M | -$24M |
| Long: CHF | 1 | $370M | $0M | -$11M | -$38M | -$2M | -$2M |
| Long: Emerging | 1 | $20M | $0M | $2M | $4M | $6M | $10M |
| Short: Yen | 1 | $27M | $0M | $0M | -$8M | -$10M | -$8M |
| Short: USD | 1 | $101M | -$1M | -$1M | -$5M | -$34M | -$47M |
| Long: EUR | 3 | $354M | -$6M | -$32M | -$28M | -$95M | -$143M |
| Long: Yen | 2 | $479M | -$9M | $11M | $9M | -$35M | -$46M |
Top & Bottom 5 ETFs by 5-Day Flow
USDU and UUP tied for the top weekly inflow at $19M each, underscoring continued demand for broad dollar-bullish exposure. FXB followed with $6M of inflows. On the outflow side, FXE led redemptions with $10M withdrawn, while FXY followed closely with $9M in outflows, reinforcing the week’s theme of rotation out of euro and yen exposures.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | $19M |
| UUP | Invesco DB US Dollar Index Bullish Fund | $19M |
| FXB | Invesco CurrencyShares British Pound Sterling Trust | $6M |
| EUO | ProShares UltraShort Euro | $5M |
| FXF | Invesco CurrencyShares Swiss Franc Trust | $0M |
| Outflows | ||
| FXE | Invesco CurrencyShares Euro Trust | -$10M |
| FXY | Invesco Currencyshares Japanese Yen Trust | -$9M |
| UDN | Invesco DB US Dollar Index Bearish Fund | -$1M |
| FXF | Invesco CurrencyShares Swiss Franc Trust | $0M |
| FOXY | Simplify Currency Strategy ETF | $0M |
Issuer League Table Update
Invesco remains the dominant issuer in the Currency channel with $1.96B in AUM and a 75.15% market share, followed by WisdomTree at $332M and a 12.77% share. WisdomTree led all issuers in weekly inflows with $19M, driven by demand for its dollar-bullish fund, while Invesco and ProShares each added $5M. On the outflow side, ProShares and Invesco each saw $5M in weekly redemptions, while Simplify was essentially flat at $0M, reflecting a week of modest repositioning across the issuer landscape rather than broad-based selling.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Invesco | 8 | $1.96B | 75.15% |
| WisdomTree | 2 | $332M | 12.77% |
| Simplify | 1 | $213M | 8.19% |
| ProShares | 4 | $101M | 3.88% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| WisdomTree | $19M |
| Invesco | $5M |
| ProShares | $5M |
| Outflows | |
| Simplify | $0M |
| ProShares | $5M |
| Invesco | $5M |
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.
