Weekly Channel Summary
The Currency channel held $2.76B in total AUM spread across 15 ETFs from 4 issuers. Weekly net inflows totaled $159M, contributing to a $481M YTD gain and $472M over the trailing year, indicating sustained investor interest in currency exposures this year despite a modest fund count. The channel remains highly concentrated, with a small number of issuers dominating asset share.
This Week’s Performance Leaders and Laggards
Short Yen exposure led all categories this week with a WTD gain of 4.06%, extending a strong YTD advance of 4.62% and a 20.01% one-year return, reflecting continued yen weakness. Long USD strategies followed with a 1.11% weekly gain, pushing YTD performance to 4.18%. On the downside, Long Yen products fell 2.13% WTD and are down 6.54% over the past year, while Long CAD and Short USD categories also posted weekly losses near or above 1%. The standout individual fund was YCS, ProShares UltraShort Yen, up 4.06% for the week, contrasting sharply with its inverse counterpart YCL, which dropped 3.93%.
Currency Performance Snapshot
| Currency | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Short: Yen | 4.06% | -3.32% | -4.33% | -0.89% | 4.62% | 20.01% |
| Long: USD | 1.11% | 0.73% | 0.11% | 1.61% | 4.18% | 6.49% |
| Long | Short: Multi | 0.47% | 0.80% | -2.97% | -3.59% | 8.58% | 9.94% |
| Long: AUD | -0.60% | 0.73% | 2.04% | 2.05% | 7.84% | 9.13% |
| Long: CHF | -0.70% | -1.17% | -2.21% | -3.82% | -4.00% | -4.07% |
| Long: EUR | -0.71% | -0.51% | 0.45% | 0.68% | -0.93% | -0.81% |
| Long: GBP | -0.95% | -0.85% | 1.99% | 1.94% | 0.81% | 0.96% |
| Long: CAD | -1.03% | -0.73% | 0.97% | -1.93% | -1.86% | -1.32% |
| Short: USD | -1.04% | -0.39% | 1.06% | 0.89% | -0.71% | -1.26% |
| Long: Emerging | -1.44% | 0.21% | 1.66% | 4.33% | 4.52% | 7.00% |
| Long: Yen | -2.13% | 1.83% | 2.96% | 1.78% | -0.50% | -6.54% |
Top & Bottom 5 ETFs by Weekly Performance
Leveraged and inverse yen products dominated both ends of the weekly performance spectrum. YCS topped the list at 4.06%, followed by EUO at 2.10% as euro weakness benefited short-euro positioning. Dollar-bullish funds UUP and USDU each gained just over 1%. At the bottom, YCL declined 3.93% and FXY fell 2.01%, underscoring the divergence between long and short yen strategies this week.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| YCS | ProShares UltraShort Yen | 4.06% |
| EUO | ProShares UltraShort Euro | 2.10% |
| UUP | Invesco DB US Dollar Index Bullish Fund | 1.14% |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | 1.07% |
| FOXY | Simplify Currency Strategy ETF | 0.47% |
| Bottom Performers | ||
| YCL | ProShares Ultra Yen | -3.93% |
| FXY | Invesco Currencyshares Japanese Yen Trust | -2.01% |
| ULE | ProShares Ultra Euro | -1.87% |
| CEW | WisdomTree Emerging Currency Strategy Fund | -1.44% |
| UDN | Invesco DB US Dollar Index Bearish Fund | -1.04% |
Analyzing the Weekly Flows
The channel attracted $159M in net inflows for the week. Long USD exposure led all groups with $71M in inflows, followed by Long Yen at $41M and Long EUR at $21M, while Long GBP added a further $20M. On the outflow side, Long CAD was the only category to see net redemptions, shedding $4M over the period. The broad-based inflows across USD, yen, euro, and pound exposures suggest diversified positioning rather than a single dominant currency theme.
Currency Flows Summary
| Currency | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Long: USD | 2 | $676M | $71M | -$1M | -$147M | $222M | $358M |
| Long: Yen | 2 | $514M | $41M | $11M | $31M | -$8M | -$61M |
| Long: EUR | 3 | $415M | $21M | $27M | -$40M | -$41M | -$149M |
| Long: GBP | 1 | $83M | $20M | $20M | $7M | $7M | -$6M |
| Long | Short: Multi | 1 | $377M | $7M | $14M | $70M | $334M | $368M |
| Long: Emerging | 1 | $20M | $2M | $2M | $4M | $6M | $10M |
| Long: AUD | 1 | $95M | $0M | $0M | -$10M | $3M | $13M |
| Long: CHF | 1 | $385M | $0M | $11M | -$54M | $9M | $9M |
| Short: USD | 1 | $104M | $0M | $4M | -$12M | -$33M | -$40M |
| Short: Yen | 1 | $26M | $0M | -$3M | -$3M | -$10M | -$6M |
| Long: CAD | 1 | $66M | -$4M | $0M | -$7M | -$7M | -$24M |
Top & Bottom 5 ETFs by 5-Day Flow
Invesco’s UUP led all funds with $72M of weekly inflows, followed by FXY at $41M and FXE at $21M. On the outflow side, FXC, the Invesco CurrencyShares Canadian Dollar Trust, saw the largest redemption at $4M, while USDU, the WisdomTree Bloomberg US Dollar Bullish Fund, posted a modest $1M outflow. Overall, outflows across the bottom five funds were minimal compared to the scale of inflows at the top.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| UUP | Invesco DB US Dollar Index Bullish Fund | $72M |
| FXY | Invesco Currencyshares Japanese Yen Trust | $41M |
| FXE | Invesco CurrencyShares Euro Trust | $21M |
| FXB | Invesco CurrencyShares British Pound Sterling Trust | $20M |
| FOXY | Simplify Currency Strategy ETF | $7M |
| Outflows | ||
| FXC | Invesco CurrencyShares Canadian Dollar Trust | -$4M |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | -$1M |
| FXF | Invesco CurrencyShares Swiss Franc Trust | $0M |
| UDN | Invesco DB US Dollar Index Bearish Fund | $0M |
| FXA | Invesco CurrencyShares Australian Dollar Trust | $0M |
Issuer League Table Update
Invesco remains the dominant issuer in the Currency channel with $1.99B in AUM and a 72.17% market share, followed by Simplify at 13.64% with a single $377M fund. Invesco also led weekly inflows by a wide margin, gathering $151M, while Simplify added $7M and WisdomTree brought in $1M. On the outflow side, Simplify recorded the largest weekly redemption among issuers at $7M, ahead of WisdomTree’s $1M outflow. ProShares, with just $96M in AUM across four funds, saw negligible flow activity this week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Invesco | 8 | $1.99B | 72.17% |
| Simplify | 1 | $377M | 13.64% |
| WisdomTree | 2 | $296M | 10.71% |
| ProShares | 4 | $96M | 3.48% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Invesco | $151M |
| Simplify | $7M |
| WisdomTree | $1M |
| Outflows | |
| ProShares | $0M |
| WisdomTree | $1M |
| 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.
