The dollar has fallen against the Mexican peso by 8.2% since the start of the year. CurrencyShares Mexican Peso Trust (FXM), up 13% year-to-date, reflects this.
Among the funds that have one-year records, the numbers are impressive:
- CurrencyShares Euro Trust (FXE) is up 18% in the last year
- CurrencyShares Australian Dollar Trust (FXA) is up 17.1% in the last year, although it has taken a hit in the last month by falling 1.3%
Some of the top-performing funds belong to currencies in emerging markets. Why? High interest rates.
Read the disclosure, as Tom Lydon is a board member of Rydex Funds.