Weekly Channel Summary
The Currency ETF channel currently encapsulates 15 exchange-traded funds managed across 4 issuing brands. Total Assets Under Management (AUM) for the space stands at $3.00B. Over the trailing 5-day period, the channel experienced net outflows totaling -$0.25B. Despite the recent weekly pullback, longer-term asset gathering remains in positive territory, with Year-to-Date (YTD) flows of $0.59B and 1-Year flows of $0.34B.
This Week’s Performance Leaders and Laggards
Currency performance was largely positive this week, led primarily by the Long: AUD category, which delivered a Week-to-Date (WTD) return of 1.70% (and sits at 8.36% YTD). On the opposite end of the spectrum, the Short: Yen category was the primary laggard, dropping -0.74% for the week, though it maintains a strong 4.34% return on a YTD basis. Broadly, the Long | Short: Multi strategy remains the undisputed YTD leader at 10.10%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long: AUD | 1.70% | 1.57% | 8.12% | 11.63% | 8.36% | 14.34% |
| Long: CHF | 1.31% | 0.84% | 2.96% | 1.48% | 1.55% | 4.73% |
| Long: CAD | 1.22% | 0.32% | 1.84% | 2.89% | 0.33% | 1.85% |
| Long: Emerging | 1.16% | 2.80% | 3.29% | 6.28% | 3.63% | 13.38% |
| Long: GBP | 0.84% | 1.90% | 1.94% | 2.41% | 1.50% | 4.89% |
| Long: Yen | 0.83% | 0.46% | -0.89% | -8.59% | -2.29% | -17.18% |
| Short: USD | 0.59% | 1.67% | 1.74% | 1.10% | 0.68% | 2.89% |
| Long: EUR | 0.29% | 0.98% | 0.87% | 1.01% | 0.48% | 2.60% |
| Long | Short: Multi | -0.12% | -2.67% | 7.48% | 9.81% | 10.10% | 26.20% |
| Long: USD | -0.48% | -1.03% | -0.42% | 1.44% | 0.67% | 2.98% |
| Short: Yen | -0.74% | 0.03% | 2.17% | 15.06% | 4.34% | 33.13% |
Top & Bottom 5 ETFs by Weekly Performance
Drilling down to individual product performance, the FXA (Invesco CurrencyShares Australian Dollar Trust) took the top spot this week, returning 1.70%. At the bottom of the group were YCS (ProShares UltraShort Yen) down -0.74%, and EUO (ProShares UltraShort Euro) which shed -0.57%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| FXA | Invesco CurrencyShares Australian Dollar Trust | 1.70% |
| FXF | Invesco CurrencyShares Swiss Franc Trust | 1.31% |
| FXC | Invesco CurrencyShares Canadian Dollar Trust | 1.22% |
| CEW | WisdomTree Emerging Currency Strategy Fund | 1.16% |
| YCL | ProShares Ultra Yen | 0.85% |
| Bottom Performers | ||
| YCS | ProShares UltraShort Yen | -0.74% |
| EUO | ProShares UltraShort Euro | -0.57% |
| UUP | Invesco DB US Dollar Index Bullish Fund | -0.50% |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | -0.45% |
| FOXY | Simplify Currency Strategy ETF | -0.12% |
Analyzing the Weekly Flows
Flows were undeniably defensive this week, with the channel shedding an aggregate -$249M over the past 5 days. Most categories experienced muted or flat flows ($0M), including Long: AUD ($106M in AUM) and Long: CHF ($541M in AUM) which saw marginal or no new cash. Conversely, the Long: USD category suffered the most severe structural bleed, losing -$218M in weekly flows, dragging down the channel total significantly.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Long: AUD | 1 | $106M | $0M | $4M | $14M | $14M | $26M |
| Long | Short: Multi | 1 | $118M | $0M | $4M | $56M | $60M | $99M |
| Long: CHF | 1 | $541M | $0M | $11M | $137M | $142M | $114M |
| Long: CAD | 1 | $78M | $0M | -$7M | $0M | $4M | $0M |
| Long: Emerging | 1 | $16M | $0M | $0M | $2M | $2M | $8M |
| Long: GBP | 1 | $65M | $0M | -$6M | -$13M | -$13M | -$6M |
| Short: USD | 1 | $142M | -$3M | -$1M | $16M | $4M | $37M |
| Short: Yen | 1 | $35M | -$3M | $3M | -$5M | -$2M | $4M |
| Long: EUR | 3 | $469M | -$9M | $8M | $33M | $42M | $45M |
| Long: Yen | 2 | $495M | -$17M | -$37M | -$10M | -$19M | -$324M |
| Long: USD | 2 | $774M | -$218M | $8M | $384M | $355M | $335M |
Top & Bottom 5 ETFs by 5-Day Flow
On a granular level, FXE (Invesco CurrencyShares Euro Trust) posted the highest relative (though flat) inflow momentum for the week. The heavy lifting on outflows came largely from UUP (Invesco DB US Dollar Index Bullish Fund) which saw massive departures to the tune of -$201M, followed by FXY (Invesco Currencyshares Japanese Yen Trust) shedding -$17M.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| FXE | Invesco CurrencyShares Euro Trust | $0M |
| CEW | WisdomTree Emerging Currency Strategy Fund | $0M |
| FOXY | Simplify Currency Strategy ETF | $0M |
| FXA | Invesco CurrencyShares Australian Dollar Trust | $0M |
| FXB | Invesco CurrencyShares British Pound Sterling Trust | $0M |
| Outflows | ||
| UUP | Invesco DB US Dollar Index Bullish Fund | -$201M |
| FXY | Invesco Currencyshares Japanese Yen Trust | -$17M |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | -$17M |
| EUO | ProShares UltraShort Euro | -$9M |
| UDN | Invesco DB US Dollar Index Bearish Fund | -$3M |
Issuer League Table Update
Invesco continues to heavily dominate the Currency ETF space, capturing a commanding 76.52% of total AUM. WisdomTree trails as the second-largest issuer with 14.95% market share. Despite market leadership, Invesco absorbed the brunt of this week’s redemptions, losing -$221M. Simplify emerged at the top of the flows leaderboard, managing to keep flows flat ($0M) during a difficult week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Invesco | 8 | $2.17B | 76.52% |
| WisdomTree | 2 | $0.42B | 14.95% |
| ProShares | 4 | $0.12B | 4.38% |
| Simplify | 1 | $0.12B | 4.15% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Simplify | $0M |
| Outflows | |
| ProShares | -$11M |
| WisdomTree | -$17M |
| Invesco | -$221M |
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.
