February 27, 2008 at 6:00 am by Tom Lydon
Rydex Investments announced that the exchange traded fund (ETF) tracking the Japanese yen has passed the $1 billion milestone.
The year-old ETF CurrencyShares Japanese Yen Trust (FXY) tracks
the price movements of the yen against the U.S. dollar and has
attracted assets amid the U.S. market’s trepidation and a declining dollar.
FXY has since become one of the most popular ETFs in the CurrencyShares
lineup.
The company offers eight CurrencyShares products and gives
investors a convenient, cost-effective means to gaining currency
exposure. Currency has a low correlation to stocks and bonds and is a
good diversification tool for a portfolio.
Read the disclosure, as Tom Lydon is a board member of Rydex Funds.
Tags: Asia, Bond ETFs, Currency ETFs, Japan
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