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WisdomTree and Dreyfus launch emerging currency ETF

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WisdomTree and The Dreyfus Corporation have announced the listing on the NYSE Arca of an ETF giving exposure to a basket of 11 emerging market curr

WisdomTree and The Dreyfus Corporation have announced the listing on the NYSE Arca of an ETF giving exposure to a basket of 11 emerging market currencies.

The WisdomTree Dreyfus Emerging Currency Fund (CEW), which has expense ratio of 0.55%, covers the following currencies – Mexican Peso, Brazilian Real, Chilean Peso, South African Rand, Polish Zloty, Israeli Shekel, Turkish New Lira, Chinese Yuan, South Korean Won, Taiwanese Dollar, and Indian Rupee. Although the Fund invests in very short-term, investment grade instruments, it is not a “money market” fund and it is not the objective of the fund to maintain a constant share price.

“Our new Emerging Currency fund fills an important void in the ETF landscape by giving investors the first currency basket product delivered in the 1940 Act fund structure,” says Bruce Lavine, WisdomTree President & COO. “CEW should be attractive to investors interested in diversifying outside the US Dollar or accessing a less correlated asset class.

“The ETF provides investors exposure to both money market rates across 11 Emerging Market countries, as well as movements in these currencies relative to the US Dollar,” he adds. “Our clients asked us for a basket strategy to complement our individual country currency income funds and we are happy to deliver that today.”

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