Alternatively, the currency-hedged United Kingdom ETFs have provided a purer play on the underlying British market. For instance, since June 23, the Deutsche X-Trackers MSCI United Kingdom Hedged Equity ETF (NYSEArca: DBUK) was only down 0.4%, iShares Currency Hedged MSCI United Kingdom ETF (NYSEArca: HEWU) was up 0.3% and  WisdomTree United Kingdom Hedged Equity Fund (NasdaqGM: DXPS) gained 2.1%.

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U.S. investors face currency risks when investing in overseas markets. In the even of a depreciating foreign currency, such as the weakened British pound, U.S. investors may see returns depressed once overseas returns are converted into U.S.-dollar terms. However, a currency-hedged ETF tries to diminish the negative effects and would outperform a non-hedged strategy if the overseas currency depreciates.

For more information on the U.K., visit our United Kingdom category.

WisdomTree United Kingdom Hedged Equity Fund