Weekly Channel Summary
The Currency ETF channel, comprising 15 funds from 4 issuers, holds total assets of $2.61B. Investors added a net $20M to the space over the past week, contributing to a year-to-date inflow of $323M. Over the last twelve months, the channel has accumulated $321M in new assets.
This Week’s Performance Leaders and Laggards
The Japanese Yen was the standout performer this week, with Long Yen strategies gaining 1.82%. This sharp move higher pushed Short Yen funds to the bottom of the list with a 3.15% loss. Despite the strong week, Long Yen funds remain down 5.18% over the past year. The Swiss Franc was another notable laggard, with the Long CHF category falling 0.84%.
Currency Performance Snapshot
| Currency | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long: Yen | 1.82% | 3.78% | 4.13% | 3.37% | 1.65% | -5.18% |
| Short: USD | 0.11% | 0.77% | 1.05% | 0.94% | 0.33% | -0.04% |
| Long: GBP | 0.09% | 0.33% | 1.31% | 1.85% | 1.78% | 1.77% |
| Long: USD | 0.07% | -0.42% | 0.11% | 1.43% | 2.94% | 5.17% |
| Long: EUR | -0.09% | 0.45% | 0.45% | 0.70% | -0.22% | 0.19% |
| Long: Emerging | -0.15% | 0.96% | 2.92% | 4.59% | 6.04% | 9.07% |
| Long: CAD | -0.23% | 0.49% | 0.77% | -1.89% | -0.84% | -0.02% |
| Long | Short: Multi | -0.32% | -0.70% | -2.15% | -3.37% | 8.07% | 9.64% |
| Long: AUD | -0.45% | 1.75% | 2.13% | 0.98% | 8.50% | 8.99% |
| Long: CHF | -0.84% | -0.71% | -2.69% | -4.71% | -3.32% | -3.06% |
| Short: Yen | -3.15% | -6.50% | -5.69% | -3.55% | 0.54% | 16.43% |
Top & Bottom 5 ETFs by Weekly Performance
Leveraged exposure to the Yen’s rally drove the week’s top fund performance, as ProShares Ultra Yen (YCL) jumped 3.14%. Its unleveraged peer, the Invesco Currencyshares Japanese Yen Trust (FXY), also posted a strong 1.72% gain. Conversely, the ProShares UltraShort Yen (YCS) was the worst performer in the channel, declining 3.15% for the week.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| YCL | ProShares Ultra Yen | 3.14% |
| FXY | Invesco Currencyshares Japanese Yen Trust | 1.72% |
| EUO | ProShares UltraShort Euro | 0.36% |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | 0.19% |
| UDN | Invesco DB US Dollar Index Bearish Fund | 0.11% |
| Bottom Performers | ||
| YCS | ProShares UltraShort Yen | -3.15% |
| FXF | Invesco CurrencyShares Swiss Franc Trust | -0.84% |
| FXA | Invesco CurrencyShares Australian Dollar Trust | -0.45% |
| FOXY | Simplify Currency Strategy ETF | -0.32% |
| FXC | Invesco CurrencyShares Canadian Dollar Trust | -0.23% |
Analyzing the Weekly Flows
Currency ETFs saw modest net inflows of $20M, with a notable divergence between performance and investor activity. Long US Dollar funds attracted the most capital, pulling in $24M despite relatively flat performance. In contrast, the week’s top-performing category, Long Yen, saw investors pull $7M, suggesting some profit-taking. Long Euro funds also experienced outflows, shedding $5M.
Currency Flows Summary
| Currency | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Long: USD | 2 | $598M | $24M | -$227M | -$182M | $151M | $286M |
| Long | Short: Multi | 1 | $365M | $7M | $10M | $63M | $327M | $361M |
| Short: USD | 1 | $105M | $2M | $2M | -$13M | -$33M | -$40M |
| Long: AUD | 1 | $96M | $0M | -$3M | -$10M | $3M | $13M |
| Long: CAD | 1 | $71M | $0M | -$0M | -$3M | -$3M | -$21M |
| Long: CHF | 1 | $391M | $0M | -$5M | -$71M | $9M | $26M |
| Long: Emerging | 1 | $18M | $0M | $0M | $2M | $4M | $8M |
| Long: GBP | 1 | $65M | $0M | $0M | -$13M | -$12M | -$25M |
| Short: Yen | 1 | $25M | $0M | -$3M | -$3M | -$10M | -$6M |
| Long: EUR | 3 | $397M | -$5M | $16M | -$61M | -$63M | -$176M |
| Long: Yen | 2 | $480M | -$7M | -$11M | -$11M | -$50M | -$105M |
Top & Bottom 5 ETFs by 5-Day Flow
The Invesco DB US Dollar Index Bullish Fund (UUP) was the primary driver of inflows, single-handedly collecting $24M. On the redemption side, the largest outflows were seen in the Invesco Currencyshares Japanese Yen Trust (FXY), which lost $6M. The Invesco CurrencyShares Euro Trust (FXE) followed with $5M in outflows.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| UUP | Invesco DB US Dollar Index Bullish Fund | $24M |
| FOXY | Simplify Currency Strategy ETF | $7M |
| UDN | Invesco DB US Dollar Index Bearish Fund | $2M |
| FXF | Invesco CurrencyShares Swiss Franc Trust | $0M |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | $0M |
| Outflows | ||
| FXY | Invesco Currencyshares Japanese Yen Trust | -$6M |
| FXE | Invesco CurrencyShares Euro Trust | -$5M |
| YCL | ProShares Ultra Yen | -$1M |
| FXF | Invesco CurrencyShares Swiss Franc Trust | $0M |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | $0M |
Issuer League Table Update
Invesco maintains its commanding lead in the currency ETF space, managing $1.86B in assets for a 71.15% market share. The firm also led weekly asset gathering with $14M in net inflows. Simplify ranked second for inflows, adding $7M to its single fund, while ProShares was the only issuer to see net redemptions, losing a modest $1M.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Invesco | 8 | $1.86B | 71.15% |
| Simplify | 1 | $365M | 13.99% |
| WisdomTree | 2 | $293M | 11.20% |
| ProShares | 4 | $95M | 3.66% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Invesco | $14M |
| Simplify | $7M |
| WisdomTree | $0M |
| Outflows | |
| ProShares | -$1M |
| WisdomTree | $0M |
| Simplify | $7M |
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.
