“The Australian dollar is one of the world’s most actively traded currencies,” Michael L. Sapir, Chairman and CEO of ProShare Capital Management, said in the press release. “We are pleased to offer investors additional ways to manage risk or potentially take advantage of moves in this widely followed currency market.”
Alternatively, investors may choose to go with the simple long Guggenheim CurrencyShares Australian Dollar Trust ETF (NYSEArca: FXA), which has a 0.40% expense ratio. However, FXA acts as a Trust that tracks the price of the Australian dollar through a deposit account denominated in Australian dollars. This fund does not use derivatives to achieve its target objective.
For more information on new product launches, visit our new ETFs category.
Max Chen contributed to this article.