As the U.S. dollar sinks to new lows against the currencies of other major U.S. trading partners, investors in international and currency exchange traded funds (ETFs) have an opportunity knocking. U.S. investors have put their money into international ETFs.

The Federal Reserve’s trade-weighted exchange index hit the lowest point since the index was created in 1973. This index weights the dollar’s value against seven other major trading currencies, reports John Waggoner for USA Today. A weak dollar may not be fun for the American traveler abroad or the company that imports goods from other countries.  However, a weaker dollar can give U.S. investors a boost from international profits.  Exporters also benefit, as U.S. goods sold abroad are less expensive.

There are numerous international ETFs that investors can choose from to take advantage of the weak dollar. It is a matter of finding the right one to fit in their portfolio and with their investment goals. Investors also can use currency ETFs in their portfolio. Although they are relatively new, the lineup continues to grow. Here are just a few currency ETFs and ETNs:

• PowerShares DB G10 Currency Harvest (DBV) – up 13.3% year-to-date
• CurrencyShares British Pound Sterling (FXB) – up 7.5% year-to-date
• CurrencyShares Euro (FXE) – up 6.4% year-to-date
• CurrencyShares Canadian Dollar (FXC) – up 14.3% year-to-date
• iPath GBP/USD Exchange Rate ETN (GBB) – up 3.8% for the month (launched in May)
• iPath EUR/USD Exchange Rate ETN (ERO) – up 3.4% for the month (launched in May)

Read the disclosure, as Tom Lydon is a board member of Rydex Investments.

Tags: Currency ETFs, ETNs, Federal Reserve