Weekly Channel Summary
The Currency ETF channel held $2.63B in total assets across 15 funds from 4 issuers as of September 25, 2026. Net flows were positive over the trailing five days at $24M, extending a $500M year-to-date gain and $508M over the trailing year. The channel’s flow profile remains dominated by a handful of large issuers, with steady accumulation this year despite mixed weekly currency performance.
This Week’s Performance Leaders and Laggards
Long USD exposure led all categories this week with a 0.89% gain, followed by Short Yen strategies up 0.75%, as dollar strength reasserted itself against a basket of majors. On the opposite end, Long|Short Multi strategies fell 2.14% WTD and remain volatile over longer horizons, down 6.61% on a 3-month basis despite a 6.25% YTD gain. Long EUR, Short USD, Long CHF, Long GBP, Long CAD, and Long AUD categories all posted negative weekly returns, reflecting broad dollar strength across developed-market crosses. Long USD also leads on a YTD basis at 5.16%, while Short Yen has been the standout longer-term performer, up 17.76% over the trailing year.
Currency Performance Snapshot
| Currency | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long: USD | 0.89% | 2.35% | 0.39% | 2.88% | 5.16% | 6.13% |
| Short: Yen | 0.75% | -2.13% | -4.20% | 0.43% | 5.40% | 17.76% |
| Long: Yen | -0.32% | 1.24% | 2.96% | 1.17% | -0.82% | -5.65% |
| Long: Emerging | -0.45% | -2.03% | 1.86% | 3.51% | 4.05% | 7.29% |
| Long: EUR | -0.59% | -1.74% | 0.45% | -0.54% | -1.46% | -0.59% |
| Short: USD | -0.66% | -1.91% | 1.07% | -0.39% | -1.37% | -0.76% |
| Long: CHF | -0.79% | -3.33% | -2.38% | -4.70% | -4.76% | -3.98% |
| Long: GBP | -0.95% | -2.73% | 0.98% | 0.24% | -0.15% | 1.49% |
| Long: CAD | -1.03% | -2.19% | 0.31% | -2.22% | -2.86% | -1.33% |
| Long: AUD | -1.36% | -1.75% | 2.12% | 1.90% | 6.37% | 8.88% |
| Long | Short: Multi | -2.14% | -0.75% | -6.61% | -5.04% | 6.25% | 7.08% |
Top & Bottom 5 ETFs by Weekly Performance
Leading fund performance this week was EUO, the ProShares UltraShort Euro fund, up 1.63% as the euro weakened against the dollar. USDU and UUP also posted solid gains of 1.02% and 0.81%, respectively, consistent with the dollar-strength theme evident across the top-of-category rankings. At the bottom, FOXY declined 2.14% and ULE fell 1.60%, both weighed down by euro softness and multi-currency strategy exposure. The performance spread between the top and bottom funds this week exceeded 3.7 percentage points, underscoring the divergence between dollar-long and euro/multi-currency positioning.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| EUO | ProShares UltraShort Euro | 1.63% |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | 1.02% |
| UUP | Invesco DB US Dollar Index Bullish Fund | 0.81% |
| YCS | ProShares UltraShort Yen | 0.75% |
| FXY | Invesco Currencyshares Japanese Yen Trust | -0.31% |
| Bottom Performers | ||
| FOXY | Simplify Currency Strategy ETF | -2.14% |
| ULE | ProShares Ultra Euro | -1.60% |
| FXA | Invesco CurrencyShares Australian Dollar Trust | -1.36% |
| FXC | Invesco CurrencyShares Canadian Dollar Trust | -1.03% |
| FXB | Invesco CurrencyShares British Pound Sterling Trust | -0.95% |
Analyzing the Weekly Flows
The Currency channel gathered $24M in net inflows over the trailing five days, led decisively by Long USD strategies, which pulled in $47M and now hold $723M in assets. Long EUR and Long Yen categories saw the largest outflows, losing $6M and $17M respectively over the same period. On a longer horizon, Long|Short Multi and Long USD categories have been the primary beneficiaries of investor demand, gathering $334M and $263M year-to-date. Short USD and Long EUR categories have seen the steepest annual redemptions, down $44M and $149M over the trailing year, respectively.
Currency Flows Summary
| Currency | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Long: USD | 2 | $723M | $47M | $118M | -$129M | $263M | $400M |
| Long | Short: Multi | 1 | $241M | $0M | $14M | $70M | $334M | $365M |
| Long: AUD | 1 | $94M | $0M | $0M | -$10M | $3M | $13M |
| Long: CAD | 1 | $66M | $0M | $4M | -$7M | -$7M | -$24M |
| Long: CHF | 1 | $377M | $0M | $11M | -$43M | $9M | $9M |
| Long: Emerging | 1 | $20M | $0M | $2M | $4M | $6M | $10M |
| Long: GBP | 1 | $83M | $0M | $20M | $7M | $7M | $1M |
| Short: USD | 1 | $103M | $0M | $4M | -$12M | -$33M | -$44M |
| Short: Yen | 1 | $27M | $0M | $0M | -$3M | -$10M | -$6M |
| Long: EUR | 3 | $406M | -$6M | $16M | -$35M | -$47M | -$149M |
| Long: Yen | 2 | $486M | -$17M | -$7M | $16M | -$26M | -$66M |
Top & Bottom 5 ETFs by 5-Day Flow
UUP, the Invesco DB US Dollar Index Bullish Fund, was the clear inflow leader this week, gathering $50M as investors rotated into dollar-strength exposure. On the outflow side, FXY, the Invesco CurrencyShares Japanese Yen Trust, led redemptions with $17M withdrawn, followed by FXE, the Invesco CurrencyShares Euro Trust, which shed $5M. Most other funds in the channel saw negligible flow activity, with the bulk of movement concentrated in these three names. This pattern reinforces the week’s broader theme of dollar-long accumulation alongside yen and euro exposure reduction.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| UUP | Invesco DB US Dollar Index Bullish Fund | $50M |
| FXF | Invesco CurrencyShares Swiss Franc Trust | $0M |
| FOXY | Simplify Currency Strategy ETF | $0M |
| UDN | Invesco DB US Dollar Index Bearish Fund | $0M |
| FXA | Invesco CurrencyShares Australian Dollar Trust | $0M |
| Outflows | ||
| FXY | Invesco Currencyshares Japanese Yen Trust | -$17M |
| FXE | Invesco CurrencyShares Euro Trust | -$5M |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | -$3M |
| ULE | ProShares Ultra Euro | -$1M |
| FXF | Invesco CurrencyShares Swiss Franc Trust | $0M |
Issuer League Table Update
Invesco remains the dominant issuer in the Currency channel with a 75.90% market share and $1.99B in assets across 8 funds, well ahead of WisdomTree’s 11.29% share and $296M in assets. Invesco also led weekly inflows, adding $27M, consistent with its scale advantage and the strong demand seen in its dollar-bullish product. WisdomTree posted the largest weekly outflow among issuers at $3M, while ProShares saw a modest $1M redemption. Simplify, the single-fund issuer with $241M in assets, was flat on the week but retains a strong $334M year-to-date inflow figure, reflecting sustained multi-currency strategy demand.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Invesco | 8 | $1.99B | 75.90% |
| WisdomTree | 2 | $296M | 11.29% |
| Simplify | 1 | $241M | 9.20% |
| ProShares | 4 | $95M | 3.62% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Invesco | $27M |
| Simplify | $0M |
| ProShares | -$1M |
| Outflows | |
| WisdomTree | -$3M |
| ProShares | -$1M |
| Simplify | $0M |
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.
