Weekly Channel Summary
The Currency channel held $2.63B in assets across 15 ETFs from 4 issuers. Net flows were positive at $27M for the week, extending to $370M year-to-date and $398M over the trailing year, underscoring sustained demand for currency exposure in 2026.
This Week’s Performance Leaders and Laggards
Long CAD exposure topped the category table this week with a 0.92% gain, followed closely by Long CHF (0.74%) and Long GBP (0.72%), as the U.S. dollar broadly softened against major currencies. Short USD positioning also advanced 0.51%, reinforcing the dollar-weakness theme, while Long USD exposure lagged with a -0.34% weekly decline. On a year-to-date basis, Short Yen (6.94%) and Multi long/short strategies (8.12%) remain the standout performers despite muted weekly moves. Long CHF and Long CAD, despite their strong week, both carry negative YTD returns of -4.26% and -2.80% respectively, reflecting a more difficult longer-term trend reversed only recently.
Currency Performance Snapshot
| Currency | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long: CAD | 0.92% | -0.98% | -0.65% | -2.96% | -2.80% | -0.51% |
| Long: CHF | 0.74% | 0.06% | -1.90% | -5.17% | -4.26% | -4.28% |
| Long: GBP | 0.72% | -0.24% | -0.54% | -0.48% | 0.50% | 1.31% |
| Short: USD | 0.51% | -1.27% | -0.50% | -2.56% | -2.08% | -1.69% |
| Long: Emerging | 0.28% | -0.28% | 1.34% | 1.02% | 4.18% | 6.72% |
| Long: EUR | 0.23% | -1.09% | -0.71% | -2.00% | -1.51% | -0.97% |
| Long: Yen | 0.15% | -1.33% | 2.86% | 0.47% | -1.39% | -5.67% |
| Long | Short: Multi | -0.07% | -0.38% | -3.89% | -2.07% | 8.12% | 8.26% |
| Short: Yen | -0.18% | 3.05% | -4.05% | 1.61% | 6.94% | 17.79% |
| Long: USD | -0.34% | 1.88% | 1.87% | 5.23% | 6.17% | 7.07% |
| Long: AUD | -0.53% | -1.93% | -0.30% | -2.29% | 5.21% | 8.49% |
Top & Bottom 5 ETFs by Weekly Performance
ULE led all funds with a 1.05% weekly gain, benefiting from euro strength, while FXC and FXF followed with gains of 0.92% and 0.74%. On the downside, EUO, a short euro position, fell 0.76%, the steepest weekly decline in the channel, consistent with broad euro appreciation. FXA and dollar-bullish fund UUP also posted modest losses, rounding out the week’s laggards.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| ULE | ProShares Ultra Euro | 1.05% |
| FXC | Invesco CurrencyShares Canadian Dollar Trust | 0.92% |
| FXF | Invesco CurrencyShares Swiss Franc Trust | 0.74% |
| FXB | Invesco CurrencyShares British Pound Sterling Trust | 0.72% |
| UDN | Invesco DB US Dollar Index Bearish Fund | 0.51% |
| Bottom Performers | ||
| EUO | ProShares UltraShort Euro | -0.76% |
| FXA | Invesco CurrencyShares Australian Dollar Trust | -0.53% |
| UUP | Invesco DB US Dollar Index Bullish Fund | -0.34% |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | -0.33% |
| YCS | ProShares UltraShort Yen | -0.18% |
Analyzing the Weekly Flows
The channel gathered $27M in net new assets for the week, led by Long EUR exposure with $30M of inflows, followed by Long USD funds at $17M. Long Yen strategies saw the largest outflow at -$12M, while Long CHF products shed $5M and Short USD exposure lost $4M. On a longer horizon, Long USD flows stand out with $326M YTD and $402M over the past year, by far the category’s strongest trend, while Long Yen and Long EUR have each bled assets over the trailing year, down $57M and $108M respectively.
Currency Flows Summary
| Currency | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Long: EUR | 3 | $385M | $30M | -$28M | $2M | -$64M | -$108M |
| Long: USD | 2 | $795M | $17M | $151M | -$131M | $326M | $402M |
| Long | Short: Multi | 1 | $216M | $0M | -$152M | -$125M | $182M | $211M |
| Long: AUD | 1 | $93M | $0M | $0M | -$3M | $3M | $13M |
| Long: CAD | 1 | $65M | $0M | -$7M | -$4M | -$7M | -$24M |
| Long: Emerging | 1 | $20M | $0M | $0M | $4M | $6M | $10M |
| Long: GBP | 1 | $102M | $0M | $19M | $26M | $26M | $20M |
| Short: Yen | 1 | $27M | $0M | $0M | -$6M | -$10M | -$11M |
| Short: USD | 1 | $98M | -$4M | -$4M | -$9M | -$38M | -$50M |
| Long: CHF | 1 | $366M | -$5M | -$16M | -$37M | -$7M | -$7M |
| Long: Yen | 2 | $468M | -$12M | -$36M | -$3M | -$47M | -$57M |
Top & Bottom 5 ETFs by 5-Day Flow
FXE topped weekly inflows with $21M, aligning with the broad euro rally, while EUO paradoxically drew $10M despite its price decline, and USDU added $9M. On the outflow side, FXY led redemptions at -$12M, followed by FXF at -$5M, reflecting reduced appetite for yen and franc exposure this week.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| FXE | Invesco CurrencyShares Euro Trust | $21M |
| EUO | ProShares UltraShort Euro | $10M |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | $9M |
| UUP | Invesco DB US Dollar Index Bullish Fund | $7M |
| FOXY | Simplify Currency Strategy ETF | $0M |
| Outflows | ||
| FXY | Invesco Currencyshares Japanese Yen Trust | -$12M |
| FXF | Invesco CurrencyShares Swiss Franc Trust | -$5M |
| UDN | Invesco DB US Dollar Index Bearish Fund | -$4M |
| FOXY | Simplify Currency Strategy ETF | $0M |
| FXB | Invesco CurrencyShares British Pound Sterling Trust | $0M |
Issuer League Table Update
Invesco remains the dominant issuer in the Currency channel with $1.97B in assets and a 74.60% market share, followed distantly by WisdomTree at $342M and 12.99% share. ProShares led weekly inflows among issuers with $10M, followed by WisdomTree at $9M, while Invesco, despite its scale, saw mixed fund-level activity that produced the largest net outflow among issuers at -$7M for the week. Simplify, the sole issuer behind the $216M Multi long/short fund, saw flat flows over the period.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Invesco | 8 | $1.97B | 74.60% |
| WisdomTree | 2 | $342M | 12.99% |
| Simplify | 1 | $216M | 8.19% |
| ProShares | 4 | $111M | 4.22% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| ProShares | $10M |
| WisdomTree | $9M |
| Invesco | $7M |
| Outflows | |
| Simplify | $0M |
| Invesco | $7M |
| WisdomTree | $9M |
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.
