Rounding out its line of hedged-equity exchange traded funds, Deutsche Asset & Wealth Management is working on a euro-hedged ETF based on European Monetary Union members.

According to a Securities and Exchange Commission filing, the Deutsche X-trackers MSCI EMU Hedged Equity ETF (NYSEArca: DBEZ) will track the MSCI EMU IMI US Dollar Hedged Index. DBEZ will have a 0.45% expense ratio.

The new offering is not to be confused with the fund providers’ original Deutsche X-Trackers MSCI Europe Hedged Equity ETF (NYSEArca: DBEU), which has a 0.45% expense ratio and garnered $588.2 million in assets under management.

While both Europe ETFs will hedge against currency risks, notably a depreciating euro currency or a strengthening U.S. dollar through the use of forward currency contracts, DBEZ will only track Eurozone stocks. Consequently, the new ETF could provide investors with a more pure exposure to Eurozone equities, without the uncertainties associated with the Foreign Exchange market. [Ahead of ECB Meeting, Hedge Euro ETF Back in the Spotlight]

“The Underlying Index is composed of equities from countries in the EMU, or the ‘Eurozone,’ that have adopted the euro as their common currency and sole legal tender,” according to the filing.