Weekly Channel Summary
The Currency ETF channel, comprising 15 funds from 4 issuers, holds a total of $2.86 billion in assets under management. This week, the segment experienced net outflows of $54 million, trimming some of its recent gains. Despite the weekly redemptions, currency ETFs have attracted a robust $550 million year-to-date and $446 million over the past year.
This Week’s Performance Leaders and Laggards
Long Emerging Market currency strategies led performance for the week, gaining 1.16%. Strategies long the Japanese Yen also posted strong results, rising 1.10% as the US Dollar weakened. Conversely, funds shorting the Yen were the worst performers, falling 1.94%. Year-to-date, Long Australian Dollar funds remain leaders with a 6.78% return.
Currency Performance Snapshot
| Currency | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long: Emerging | 1.16% | 2.78% | 1.83% | 3.08% | 5.41% | 9.98% |
| Long: Yen | 1.10% | 3.02% | -0.65% | -0.59% | -0.94% | -7.68% |
| Long: AUD | 0.50% | 2.15% | -1.73% | 1.43% | 6.78% | 9.84% |
| Long: CAD | 0.48% | 1.68% | -2.07% | -2.05% | -1.50% | -1.34% |
| Short: USD | 0.44% | 1.73% | -0.82% | -1.03% | -0.22% | 0.18% |
| Long: EUR | 0.22% | 1.08% | -0.80% | -1.11% | -0.52% | 0.54% |
| Long: GBP | 0.19% | 1.23% | 0.02% | 0.12% | 1.35% | 2.61% |
| Long: CHF | 0.07% | 0.05% | -3.50% | -4.32% | -2.22% | -0.64% |
| Long: USD | -0.44% | -1.35% | 2.06% | 3.32% | 2.95% | 5.10% |
| Long | Short: Multi | -0.94% | -3.89% | -0.56% | 2.25% | 9.38% | 16.19% |
| Short: Yen | -1.94% | -5.09% | 2.63% | 3.88% | 5.21% | 23.22% |
Top & Bottom 5 ETFs by Weekly Performance
The top-performing fund was the leveraged ProShares Ultra Yen (YCL), which surged 2.29%. The WisdomTree Emerging Currency Strategy Fund (CEW) also delivered a solid 1.16% gain. At the other end of the spectrum, the ProShares UltraShort Yen (YCS) fell 1.94%, reflecting the currency’s strength.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| YCL | ProShares Ultra Yen | 2.29% |
| CEW | WisdomTree Emerging Currency Strategy Fund | 1.16% |
| FXY | Invesco Currencyshares Japanese Yen Trust | 1.01% |
| ULE | ProShares Ultra Euro | 0.65% |
| FXA | Invesco CurrencyShares Australian Dollar Trust | 0.50% |
| Bottom Performers | ||
| YCS | ProShares UltraShort Yen | -1.94% |
| FOXY | Simplify Currency Strategy ETF | -0.94% |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | -0.53% |
| UUP | Invesco DB US Dollar Index Bullish Fund | -0.35% |
| EUO | ProShares UltraShort Euro | -0.27% |
Analyzing the Weekly Flows
Currency ETFs saw net redemptions totaling $54 million over the past week. The outflows were heavily concentrated in funds with long exposure to the US Dollar, which shed $52 million. In contrast, strategies focused on the Japanese Yen were the only group to attract new capital, pulling in $8 million. Funds offering exposure to the Euro also saw outflows, losing $7 million.
Currency Flows Summary
| Currency | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Long: Yen | 2 | $464M | $8M | -$1M | -$10M | -$45M | -$113M |
| Long: CAD | 1 | $73M | $3M | -$3M | $0M | $0M | -$21M |
| Long | Short: Multi | 1 | $361M | $0M | $17M | $178M | $317M | $352M |
| Long: AUD | 1 | $98M | $0M | -$3M | -$7M | $7M | $10M |
| Long: CHF | 1 | $399M | $0M | -$22M | -$83M | $14M | $20M |
| Long: Emerging | 1 | $18M | $0M | $2M | $2M | $4M | $8M |
| Long: GBP | 1 | $65M | $0M | -$13M | -$26M | -$12M | -$19M |
| Short: Yen | 1 | $29M | $0M | -$6M | $0M | -$7M | -$10M |
| Short: USD | 1 | $109M | -$6M | -$6M | -$25M | -$35M | -$43M |
| Long: EUR | 3 | $379M | -$7M | -$18M | -$80M | -$79M | -$195M |
| Long: USD | 2 | $869M | -$52M | -$67M | $86M | $386M | $456M |
Top & Bottom 5 ETFs by 5-Day Flow
The Invesco Currencyshares Japanese Yen Trust (FXY) was the sole significant gainer, attracting $9 million in new assets. On the other hand, outflows were dominated by two US Dollar bullish funds. The Invesco DB US Dollar Index Bullish Fund (UUP) experienced the largest redemptions at $34 million, followed by the WisdomTree Bloomberg US Dollar Bullish Fund (USDU) with $19 million in outflows.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| FXY | Invesco Currencyshares Japanese Yen Trust | $9M |
| FXC | Invesco CurrencyShares Canadian Dollar Trust | $3M |
| FXF | Invesco CurrencyShares Swiss Franc Trust | $0M |
| FOXY | Simplify Currency Strategy ETF | $0M |
| FXA | Invesco CurrencyShares Australian Dollar Trust | $0M |
| Outflows | ||
| UUP | Invesco DB US Dollar Index Bullish Fund | -$34M |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | -$19M |
| UDN | Invesco DB US Dollar Index Bearish Fund | -$6M |
| FXE | Invesco CurrencyShares Euro Trust | -$5M |
| EUO | ProShares UltraShort Euro | -$2M |
Issuer League Table Update
Invesco remains the dominant issuer in the currency space, managing $1.93 billion for a 67.35% market share, followed by WisdomTree with a 16.55% share. No issuer recorded net inflows for the week. Invesco led the outflows, shedding $33 million from its funds, while WisdomTree also saw notable redemptions of $19 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Invesco | 8 | $1.93B | 67.35% |
| WisdomTree | 2 | $474M | 16.55% |
| Simplify | 1 | $361M | 12.61% |
| ProShares | 4 | $100M | 3.49% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Simplify | $0M |
| ProShares | -$2M |
| WisdomTree | -$19M |
| Outflows | |
| Invesco | -$33M |
| WisdomTree | -$19M |
| ProShares | -$2M |
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.
