Elkhorn Files for Unique Currency ETFElkhorn Investments has filed plans with the Securities and Exchange Commission (SEC) to possibly list the Elkhorn Long Non-USD Currency ETF.

“The Fund is an actively managed exchange-traded fund that seeks to provide total return by investing in exchange-listed currency futures contracts that produce long exposure to one or more non-U.S. dollar currencies and short exposure to the U.S. Dollar,” according to the filing.

Established dollar exchange traded funds on the market include the PowerShares DB U.S. Dollar Index Bullish Fund (NYSEArca: UUP), the tracking exchange traded fund for the U.S. Dollar Index. UUP tracks the price movement of the U.S. dollar against a basket of currencies, including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc.

The WisdomTree Bloomberg U.S. Dollar Bullish Fund (NYSEARCA: USDU) tracks the dollar against a broader group of developed and emerging market currencies in an attempt to outperform the Bloomberg Dollar Total Return Index. That ETF features exposure to emerging markets currencies whereas UUP only measures the dollar against major developed market currencies. Both UUP and USDU are long dollar ETFs, but the Elkhorn ETF will take a different approach.

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