The third largest currency based ETF in terms of assets under management after UUP (PowerShares DB U.S. Dollar Index Bullish) and EUO (ProShares UltraShort Euro) is FXA (CurrencyShares Australian Dollar Trust) which holds north of $600 million currently in assets under management.

FXA tracks the price of the Australian dollar relative to the US. dollar, and the fund has rallied 2.18% YTD and is up an impressive 19.31% in the trailing five year period.

The Australian equity market has also fared rather well in 2012, as EWA (iShares MSCI Australia) is up 14.23%. [Why It Pays to Watch the Aussie Dollar ETF]

FXA averages about 213,000 shares on a daily basis and is currently challenging its 2012 highs ($105.88 was touched in early September) while trading above both its 50 and 200 day moving average.

CurrencyShares Australian Dollar Trust

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