Rydex Adds More Currencies To Their ETF Family
July 19th at 1:00pm by Tom Lydon
It seems like it won’t be long before there’s an exchange traded fund (ETF) for the most far-flung currency you can think of.
Rydex is bringing us a step closer to that with the creation of four more currency-focused funds to join their growing CurrencyShares family.
These funds will track the:
- Russian ruble
- South African rand
- Hong Kong dollar
- Singapore dollar
During the next several weeks these ETFs will become available, joining the other eight CurrencyShares funds, reports Joanne Von Alroth for Investor’s Business Daily.
Currency-based ETFs hold 65% of Rydex’s total assets. Their other currency-based funds track the Australian dollar, British pound, Canadian dollar, Mexican peso, Swedish Krona, Swiss franc and Japanese yen.
If you’re viewing these funds as an anti-dollar play, Next Investment CEO Dan McCabe says investors shouldn’t. Funds of this type can be a way to get global diversification.
Among the other currency-related ETFs launched this year include:
Read the disclosure, as Tom Lydon is a board member of Rydex Funds.
