A news release said the new offering is designed to provide broad-based exposure to money market rates and currency movements of selected commodity-producing countries and has an expense ratio of 0.55%.
“In addition to presenting a distinct alternative to traditional currencies like the euro, yen and pound, exposure to commodity currencies has historically served to diversify a traditional portfolio,” said Bruce Lavine, WisdomTree President & COO, in the news release.
Although the fund invests in very short-term, investment grade instruments, the fund is not a money market fund. It doesn’t strive to maintain a constant share price, the company said
Constituent currencies at launch:
Developed Market Emerging Market
Australian dollar Brazilian real
Canadian dollar Chilean peso
Norwegian krone Russian ruble
New Zealand dollar South African rand