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.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.