Weekly Channel Summary
The Currency ETF channel, comprising 15 ETFs from 4 issuers, currently holds a total of $2.26 billion in assets under management. The channel experienced net outflows of $26 million over the past week, contrasting with positive year-to-date inflows of $465 million. Over the last twelve months, the channel has successfully gathered $561 million in net new assets.
This Week’s Performance Leaders and Laggards
This week’s performance was dominated by strategies betting against the Japanese Yen. The ‘Short: Yen’ category was the top performer with a 5.64% week-to-date return, although it remains down 1.83% for the year. Conversely, the primary laggard was the ‘Long: Yen’ category, which fell by 4.40% this week but maintains a positive 2.46% return year-to-date.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Short: Yen | 5.64% | 6.22% | 9.45% | 13.76% | -1.83% | 12.38% |
| Long: USD | 1.30% | 1.61% | 2.79% | 0.43% | -4.33% | 1.51% |
| Long: CAD | -0.30% | -1.07% | -2.06% | 0.28% | 3.22% | -0.98% |
| Long: EUR | -0.42% | -0.30% | 0.02% | 1.85% | 6.17% | 3.49% |
| Long: Emerging | -0.49% | -0.16% | 1.35% | 7.87% | 10.53% | 8.01% |
| Long: AUD | -0.96% | -1.28% | -0.05% | 5.31% | 6.63% | -1.44% |
| Long: CHF | -1.18% | -0.95% | -1.03% | 3.33% | 12.24% | 6.22% |
| Long: GBP | -1.21% | -1.64% | -1.28% | 3.89% | 8.33% | 4.64% |
| Short: USD | -1.28% | -1.15% | -0.98% | 2.61% | 11.01% | 5.63% |
| Long: Yen | -4.40% | -4.62% | -6.23% | -8.65% | 2.46% | -6.71% |
Top & Bottom 5 ETFs by Weekly Performance
The week’s best-performing individual ETF was the ProShares UltraShort Yen (YCS), which surged 5.64%. On the other end of the spectrum, the ProShares Ultra Yen (YCL) was the worst performer, dropping 5.52%, followed closely by the Invesco Currencyshares Japanese Yen Trust (FXY) with a loss of 3.28%.
| Top Performers | ||
| YCS | ProShares UltraShort Yen | 5.64% |
| EUO | ProShares UltraShort Euro | 2.29% |
| UUP | Invesco DB US Dollar Index Bullish Fund | 1.43% |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | 1.17% |
| FXC | Invesco CurrencyShares Canadian Dollar Trust | -0.30% |
| Bottom Performers | ||
| YCL | ProShares Ultra Yen | -5.52% |
| FXY | Invesco Currencyshares Japanese Yen Trust | -3.28% |
| ULE | ProShares Ultra Euro | -2.19% |
| FXE | Invesco CurrencyShares Euro Trust | -1.36% |
| UDN | Invesco DB US Dollar Index Bearish Fund | -1.28% |
Analyzing the Weekly Flows
Despite the channel’s overall net outflow of $26 million this week, there were clear pockets of investor interest. The ‘Long: USD’ category attracted the most capital, pulling in $21 million in fresh assets to its $341 million AUM base. The ‘Long | Short: Multi’ category also saw a modest $1 million inflow. On the other hand, the ‘Long: EUR’ category experienced the most significant withdrawals, shedding $21 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Long: USD | 2 | $341M | $21M | $15M | ($1M) | ($316M) | ($164M) |
| Long | Short: Multi. | 1 | $25M | $1M | $6M | $7M | $25M | $25M |
| Short: Yen | 1 | $31M | ($2M) | $0M | $9M | $4M | ($3M) |
| Long: GBP | 1 | $83M | ($6M) | ($6M) | ($6M) | $20M | $7M |
| Long: Yen | 2 | $549M | ($18M) | ($45M) | ($288M) | $112M | $87M |
| Long: EUR | 3 | $506M | ($21M) | ($59M) | ($118M) | $265M | $265M |
Top & Bottom 5 ETFs by 5-Day Flow
At the individual fund level, the WisdomTree Bloomberg US Dollar Bullish Fund (USDU) was the clear winner for inflows, attracting $13 million. On the outflows side, the Invesco CurrencyShares Euro Trust (FXE) saw the largest redemption of $21 million, followed by the Invesco Currencyshares Japanese Yen Trust (FXY) which lost $15 million.
| Inflows | ||
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | $13M |
| UUP | Invesco DB US Dollar Index Bullish Fund | $8M |
| FOXY | Simplify Currency Strategy ETF | $1M |
| CEW | WisdomTree Emerging Currency Strategy Fund | $0M |
| EUO | ProShares UltraShort Euro | $0M |
| Outflows | ||
| FXE | Invesco CurrencyShares Euro Trust | ($21M) |
| FXY | Invesco Currencyshares Japanese Yen Trust | ($15M) |
| FXB | Invesco CurrencyShares British Pound Sterling Trust | ($6M) |
| YCL | ProShares Ultra Yen | ($3M) |
| YCS | ProShares UltraShort Yen | ($2M) |
Issuer League Table Update
Invesco continues to dominate the Currency ETF space, holding an 85.36% market share, with WisdomTree in a distant second at 8.25%. This week, WisdomTree led the pack in asset gathering with $13 million in net inflows. Meanwhile, the market leader Invesco experienced the largest outflows among all issuers, with a net redemption of $35 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Invesco | 8 | $1.93B | 85.36% |
| WisdomTree | 2 | $0.19B | 8.25% |
| ProShares | 4 | $0.12B | 5.28% |
| Simplify | 1 | $0.03B | 1.12% |
Top & Bottom 3 Issuers by 5-Day Flow
| Inflows | |
| WisdomTree | $13M |
| Simplify | $1M |
| Outflows | |
| ProShares | -$5M |
| Invesco | -$35M |
For a deeper dive into these trends, access our FREE, in-depth Thematic 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.
