The Japanese Yen continues to under-perform in 2013, delivering the worst returns of any major currency represented via an ETP this year.
FXY (CurrencyShares Japanese Yen Trust, Expense Ratio 0.40%) is a $143 million fund, and trades about 263,000 shares on an average daily basis and has seen a decent uptick in trading volume in recent sessions. The fund has actually reeled in $37 million year to date, a substantial sum given the total asset base of the fund.
The much smaller JYN (iPath JPY/USD Exchange Rate ETN Medium Term, Expense Ratio 0.40%) also exists in the Japanese Yen currency space, but the fund appears to be on no one’s radar, going days if not a week at times on end with zero volume traded.
The leveraged space is rather well covered concerning the Japanese Yen, as YCL (ProShares Ultra Yen, Expense Ratio 0.95%) and YCS (ProShares UltraShort Yen, Expense Ratio 0.95%) are designed to deliver two times the daily return and two times the daily inverse returns of Japanese Yen futures respectively.
YCS specifically has seen a big volume uptick in the past couple days as the fund appears to be breaking out from a month long trading range while there is quite a bit of congestion with the 50 and 200 day MA levels at current price levels, and apparently bears are again lurking in the Japanese Yen.
ProShares UltraShort Yen
For more information on Street One ETF research and ETF trade execution/liquidity services, contact Paul Weisbruch at email@example.com.
Street One Financial is an educational/research firm utilizing the Broker Dealer services of GWM Group Inc (RLCC) a FINRA registered Broker/Dealer. All trades are executed through GWM Group (RLCC) and cleared by Fidelity (NFS)DTC number 0226. Street One Financial LLC makes available products and services offered by GWM Group Inc., a registered broker-dealer and Member Securities Investor Protection Corporation (SIPC), Investing in securities involves risks, and there is always the potential of losing money when you invest in securities.