Weekly Channel Summary
The Currency ETF channel currently manages approximately $2.6 billion in assets across 15 ETFs and 4 distinct issuers. The channel saw a healthy injection of capital this past week, with total 5-day net inflows of $66 million ($0.07B rounded). This positive momentum is reflected in the year-to-date figures, showing $250 million in net inflows, while the trailing one-year flow stands at a robust $805 million. The landscape continues to be dominated by long-biased currency strategies, with the Swiss Franc and Japanese Yen attracting significant investor attention.
This Week’s Performance Leaders and Laggards
The performance landscape was dominated by the Japanese Yen this week, with the Long: Yen category leading the pack at 4.12% WTD. In contrast, Short: Yen positions suffered significantly, dropping -5.48%. Other notable gainers included the Long | Short: Multi category (1.52%) and Long: AUD (0.79%). On a YTD basis, multi-strategy currency funds remain the standout performers, boasting gains of over 9%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Long: Yen | 4.12% | 5.90% | 0.79% | -6.82% | 3.46% | -3.30% |
| Long | Short: Multi | 1.52% | 7.90% | 6.97% | 15.08% | 9.23% | 26.05% |
| Long: AUD | 0.79% | 5.67% | 8.01% | 8.27% | 6.00% | 13.34% |
| Short: USD | 0.75% | 2.40% | 2.70% | 1.69% | 1.62% | 12.35% |
| Long: CHF | 0.65% | 3.81% | 2.79% | 4.10% | 2.79% | 16.95% |
| Long: Emerging | 0.57% | 2.36% | 4.20% | 6.28% | 2.78% | 13.82% |
| Long: EUR | 0.11% | 0.66% | 0.93% | 1.02% | 0.40% | 7.25% |
| Long: GBP | 0.04% | 1.49% | 3.71% | 1.42% | 1.46% | 11.30% |
| Long: CAD | 0.01% | 1.81% | 2.80% | 1.07% | 0.55% | 4.74% |
| Long: USD | -0.68% | -1.99% | -1.42% | 1.21% | -1.10% | -4.43% |
| Short: Yen | -5.48% | -7.50% | -0.64% | 11.42% | -4.38% | 7.22% |
Top & Bottom 5 ETFs by Weekly Performance
The leveraged YCL (ProShares Ultra Yen) was the clear leader this week, surging 5.79% as the Yen strengthened. Conversely, the YCS (ProShares UltraShort Yen) was the primary laggard, falling -5.48%. The EUO (ProShares UltraShort Euro) also struggled, posting a -0.81% return for the week.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| YCL | ProShares Ultra Yen | 5.79% |
| FXY | Invesco Currencyshares Japanese Yen Trust | 2.44% |
| FOXY | Simplify Currency Strategy ETF | 1.52% |
| ULE | ProShares Ultra Euro | 0.86% |
| FXA | Invesco CurrencyShares Australian Dollar Trust | 0.79% |
| Bottom Performers | ||
| YCS | ProShares UltraShort Yen | -5.48% |
| EUO | ProShares UltraShort Euro | -0.81% |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | -0.70% |
| UUP | Invesco DB US Dollar Index Bullish Fund | -0.65% |
| FXC | Invesco CurrencyShares Canadian Dollar Trust | 0.01% |
Analyzing the Weekly Flows
The channel attracted $66 million in total net flows this week. The Long: CHF category led all groups with $40 million in weekly inflows, further cementing its position as the largest category with $576 million in total AUM. The multi-strategy Long | Short: Multi category also saw significant interest, gathering $15 million. On the defensive side, the Short: Yen category experienced the largest outflows of $3 million as investors rotated out of bearish Yen bets.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Long: CHF | 1 | $576M | $40M | $170M | $165M | $165M | $397M |
| Long | Short: Multi | 1 | $88M | $15M | $26M | $28M | $30M | $81M |
| Long: USD | 2 | $412M | $6M | $12M | ($38M) | ($20M) | ($209M) |
| Long: EUR | 3 | $517M | $4M | $54M | $36M | $47M | $284M |
| Long: Yen | 2 | $556M | $3M | $24M | $32M | $18M | $98M |
| Long: AUD | 1 | $102M | $0M | $10M | $20M | $10M | $29M |
| Long: CAD | 1 | $79M | $0M | $0M | ($3M) | $4M | $4M |
| Long: Emerging | 1 | $16M | $0M | $2M | $4M | $2M | $8M |
| Long: GBP | 1 | $72M | $0M | ($6M) | ($19M) | ($6M) | $19M |
| Short: USD | 1 | $149M | $0M | $12M | $2M | $9M | $95M |
| Short: Yen | 1 | $27M | ($3M) | ($7M) | ($12M) | ($7M) | $1M |
Top & Bottom 5 ETFs by 5-Day Flow
The FXF (Invesco CurrencyShares Swiss Franc Trust) led all individual funds with $40 million in new capital. On the outflow side, the UUP (Invesco DB US Dollar Index Bullish Fund) and the YCS (ProShares UltraShort Yen) both shed $3 million over the past five trading days.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| FXF | Invesco CurrencyShares Swiss Franc Trust | $40M |
| FOXY | Simplify Currency Strategy ETF | $15M |
| USDU | WisdomTree Bloomberg US Dollar Bullish Fund | $9M |
| FXE | Invesco CurrencyShares Euro Trust | $5M |
| FXY | Invesco Currencyshares Japanese Yen Trust | $3M |
| Outflows | ||
| UUP | Invesco DB US Dollar Index Bullish Fund | ($3M) |
| YCS | ProShares UltraShort Yen | ($3M) |
| EUO | ProShares UltraShort Euro | ($1M) |
Issuer League Table Update
Invesco remains the dominant issuer in the Currency channel, commanding a massive 84.65% market share with $2.2 billion in AUM. WisdomTree holds the second position with 7.42% share. Invesco also led weekly flows with $46 million in net new money, while ProShares saw the largest outflows among major issuers, losing $4 million for the week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Invesco | 8 | $2.20B | 84.65% |
| WisdomTree | 2 | $0.19B | 7.42% |
| ProShares | 4 | $0.12B | 4.53% |
| Simplify | 1 | $0.09B | 3.39% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Invesco | $46M |
| Simplify | $15M |
| WisdomTree | $9M |
| Outflows | |
| ProShares | -$4M |
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.
