USDU, which debuted in December 2013, allocates a combined 50.3% of its weight to the euro and Japanese yen, another currency beholden to the whims of a major global central bank. Last week, Bank of Japan Governor Haruhiko Kuroda said investors should expect the yen’s recent strength to persist.
Predictably, the greenback’s strength is proving cumbersome for commodities. In particular, gold. Over the past 90 days, UUP is up half a percent, but the SPDR Gold Shares (NYSE: GLD) is down 4.5%.
Of the 10 worst non-leveraged ETFs to this point in Wednesday’s session, eight are commodities plays including the iPath Dow Jones-UBS Coffee Total Return Sub-Index ETN (NYSEArca: JO) and five gold mining ETFs. [Gold Miners Gains Nearly Gone]
PowerShares DB US Dollar Index Bullish Fund
