An ETF to hedge against currency fluctuations so that investors are exclusively exposed to the equity holdings in its portfolio is the WisdomTree Japan Hedged Equity Fund (NYSEArca: DXJ). Investors who are new to Japan can choose between EWJ and DXJ depending on which way they think the yen will move against the dollar over the course of their investment time horizon. [Why Japan Is on the Radar.]

If you’d like to play the yen on its own, either straight or as a leveraged play, our ETF Analyzer reveals several yen-focused ETFs:

  • CurrencyShares Japanese Yen Trust (NYSEArca: FXY)
  • ProShares Ultra Yen (NYSEArca: YCL)
  • ProShares UltraShort Yen (NYSEArca: YCS)
  • WisdomTree Dreyfus Japanese Yen (NYSEArca: JYF)

For more stories about Japan, visit our Japan category.

Read the disclaimer; Tom Lydon is a board member of Rydex|SGI.

Tisha Guerrero contributed to this article.