As we mentioned UUP being the largest with “only” $667 million in AUM currently, there is a pretty sharp drop-off in terms of asset size down the list for the next largest funds being EUO (ProShares UltraShort Euro, Expense Ratio 0.95%, $418 million in AUM), YCS (ProShares UltraShort Yen, Expense Ratio 0.95%, $367 million in AUM), FXA (CurrencyShares Australian Dollar Trust, Expense Ratio 0.40%), and FXC (CurrencyShares Canadian Dollar Trust, Expense Ratio 0.40%, $273 million in AUM), noting that EUO and YCS are inverse/leveraged funds.
FXF (CurrencyShares Swiss Franc Trust, Expense Ratio 0.40%) and FXE (CurrencyShares Euro Currency Trust, Expense Ratio 0.40%) have even lower AUM levels which is actually somewhat stunning especially being that FXE represents the Euro, with $258 million and $189 million respectively.
Worse, there are sixteen Currency based ETPs just sitting out there with less than $10 milllion in AUM, some with as low as $1 to $3 million in AUM and notably light daily trading activity. We believe there is large
potential for growth in the Currency ETP space as far as an increase in adoption and usage by a realm of different types of investors and portfolio managers, however the timing of this growth still remains uncertain.
PowerShares DB US Dollar Index Bullish Fund
For more information on Street One ETF research and ETF trade execution/liquidity services, contact Paul Weisbruch at [email protected].
Street One Financial is an educational/research firm utilizing the Broker Dealer services of Precision Securities, a FINRA registered Broker/Dealer.