Greenback Gains: US Dollar Strategies Lead Currency ETF Performance

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Weekly Channel Summary

The Currency ETF channel currently encompasses 15 ETFs managed by 4 distinct issuers, holding approximately $3B in total Assets Under Management. Over the past week, the channel attracted positive 5-day flows of $36M ($0.04B). This recent influx continues a solid trend of capital accumulation across the space, adding to Year-To-Date flows of $307M ($0.31B) and strong 1-Year net flows totaling $776M ($0.78B).

This Week’s Performance Leaders and Laggards

The Long: USD category was the standout segment this week, leading performance with a 1.49% WTD return and pushing its YTD return to 1.17%. Long | Short: Multi also posted a solid 1.06% gain over the last five days. Conversely, Long: Emerging was the primary lagging category, dropping -2.52% for the week, though it remains slightly positive YTD. Long: EUR also struggled significantly, shedding -1.92%.

Category Performance Snapshot

Category WTD 1 Month 3 Month 6 Month YTD 1 Year
Long: USD 1.49% 1.61% 0.79% 3.12% 1.17% -0.15%
Long | Short: Multi 1.06% 3.22% 6.87% 13.68% 11.07% 22.77%
Long: CAD 0.09% 0.08% 1.73% 1.60% 0.62% 5.10%
Long: GBP -0.59% -1.71% 0.65% -0.12% -0.31% 6.08%
Long: Yen -0.95% -0.49% -1.57% -6.87% -0.61% -6.33%
Short: USD -1.36% -1.27% 0.36% -0.50% -0.42% 6.67%
Long: CHF -1.38% -0.61% 3.01% 2.04% 1.50% 13.07%
Long: AUD -1.69% 0.07% 5.73% 7.35% 5.24% 11.49%
Long: EUR -1.92% -1.97% -0.41% -0.99% -1.28% 7.89%
Long: Emerging -2.52% -1.81% 1.48% 3.54% 0.35% 9.76%
Short: Yen N/A N/A N/A N/A N/A N/A

Top & Bottom 5 ETFs by Weekly Performance

The Invesco DB US Dollar Index Bullish Fund (UUP) was the single best-performing ETF with a 1.51% gain over the last 5 days. Conversely, the two worst-performing ETFs were the WisdomTree Emerging Currency Strategy Fund (CEW), falling -2.52%, and the Invesco CurrencyShares Euro Trust (FXE), dropping -1.92%.

Ticker Fund Name WTD Performance
Top Performers
UUP Invesco DB US Dollar Index Bullish Fund 1.51%
USDU WisdomTree Bloomberg US Dollar Bullish Fund 1.46%
FOXY Simplify Currency Strategy ETF 1.06%
FXC Invesco CurrencyShares Canadian Dollar Trust 0.09%
FXB Invesco CurrencyShares British Pound Sterling Trust -0.59%
Bottom Performers
CEW WisdomTree Emerging Currency Strategy Fund -2.52%
FXE Invesco CurrencyShares Euro Trust -1.92%
FXA Invesco CurrencyShares Australian Dollar Trust -1.69%
FXF Invesco CurrencyShares Swiss Franc Trust -1.38%
UDN Invesco DB US Dollar Index Bearish Fund -1.36%

Analyzing the Weekly Flows

Total net flows for the Currency channel amounted to an inflow of $36M over the past five days. The Long: USD category attracted the most capital by a wide margin, bringing in $24M on an AUM of $475M. Long: EUR was another significant beneficiary, gathering $19M in new assets. On the other side of the ledger, Long: CHF suffered the largest outflow, shedding -$11M for the week.

Category Flows Summary

Category Fund Count AUM 5 Day 30 Day 90 Day YTD 1 Year
Long: USD 2 $475M $24M $58M -$63M $32M -$120M
Long: EUR 3 $508M $19M $7M $29M $50M $264M
Long | Short: Multi 1 $102M $6M $29M $37M $44M $93M
Short: Yen 1 $31M $3M $0M -$10M -$5M $4M
Long: AUD 1 $101M $0M $0M $17M $10M $29M
Long: CAD 1 $86M $0M $7M $7M $11M $11M
Long: Emerging 1 $15M $0M $0M $4M $2M $8M
Long: GBP 1 $70M $0M $0M -$19M -$6M $13M
Long: Yen 2 $536M -$1M $1M $21M $16M $19M
Short: USD 1 $142M -$4M -$4M $8M $5M $85M
Long: CHF 1 $548M -$11M $23M $148M $148M $370M

Top & Bottom 5 ETFs by 5-Day Flow

The Invesco DB US Dollar Index Bullish Fund (UUP) led the pack for individual ETF inflows, capturing $33M. The top two ETFs experiencing outflows were the Invesco CurrencyShares Swiss Franc Trust (FXF), which lost -$11M, and the WisdomTree Bloomberg US Dollar Bullish Fund (USDU), which saw -$9M leave the fund.

Ticker Fund Name 5-Day Flow
Inflows
UUP Invesco DB US Dollar Index Bullish Fund $33M
FXE Invesco CurrencyShares Euro Trust $16M
FOXY Simplify Currency Strategy ETF $6M
EUO ProShares UltraShort Euro $3M
YCS ProShares UltraShort Yen $3M
Outflows
FXF Invesco CurrencyShares Swiss Franc Trust -$11M
USDU WisdomTree Bloomberg US Dollar Bullish Fund -$9M
UDN Invesco DB US Dollar Index Bearish Fund -$4M
YCL ProShares Ultra Yen -$1M
CEW WisdomTree Emerging Currency Strategy Fund $0M

Issuer League Table Update

Invesco continues to dominate the Currency ETF space with a massive 84.20% market share and $2.20B in AUM. WisdomTree holds the distant second spot with a 7.30% share ($0.19B). Invesco also led the field in capital gathering this week, taking in $34M in new assets. WisdomTree, however, was the only top issuer to experience net withdrawals, losing -$9M over the last five days.

Top 5 Issuers by AUM

Brand Fund Count AUM AUM Market Share
Invesco 8 $2.20B 84.20%
WisdomTree 2 $0.19B 7.30%
ProShares 4 $0.12B 4.59%
Simplify 1 $0.10B 3.91%

Top & Bottom 3 Issuers by 5-Day Flow

Brand 5-Day Flow
Inflows
Invesco $34M
Simplify $6M
ProShares $5M
Outflows
WisdomTree -$9M

For a deeper dive into these trends, access our FREE, in-depth Currency ETF reports in the right side panel of this page.

Disclosures

This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.

This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.