Currency-hedged exchange traded funds remain resolutely out of favour in the US — despite posting outsized returns in the past year.
The largest currency-hedged ETFs in the US all comfortably outperformed their unhedged equivalents last year, helped by the strength of the dollar, which rose 6.7 per cent against a basket of six other developed world currencies, as measured by the DXY index.
Yet the collective assets of US-listed currency-hedged ETFs — which neutralise the movement in foreign currencies against the dollar while still providing exposure to overseas assets — ended last year at just $16.9bn, according to Bloomberg data.
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