WisdomTree To Launch Active Forex ETF
ETF issuer WisdomTree has announced plans to launch the WisdomTree Dreyfus Commodity Currency Fund, which will trade on the NYSE under the ticker "CCX."
CCX will attempt to provide investors with returns comparable to money market rates in countries that are home to commodity currencies.
Examples of commodity currencies that CCX will track include the dollars of Australia, Canada and New Zealand, the Brazilian real, the Russian ruble, the Chilean peso, the Norwegian krone, the Mexican peso and the South African rand.
CCX will not invest in currencies that are pegged to the U.S. dollar such as the Chinese yuan.
The fund will invest in forward currency contracts, currency swaps and interest rate swaps and have an expense ratio of 0.55%.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.