Rydex Files Plans For Yuan ETF

Rydex Investments, the ETF issuer most known for its equal-weighted funds and its CurrencyShares suite of ETFs tracking various foreign currencies, has filed plans to introduce the CurrencyShares Chinese Renminbi Trust. The new ETF will trade on the New York Stock Exchange under the ticker “FXCH.” The Chinese yuan ETF niche is currently dominated by the WisdomTree Dreyfus Chinese Yuan Fund CYB and the Market Vectors Chinese Renminbi /USD ETN CNY. FXCH will be Rydex's tenth currency ETF. The firm currently issues ETF offering exposure to the Australian dollar, the Canadian dollar, the euro, the Japanese yen and the Russian ruble, among others. As of the end of May, Rydex was the ninth-largest U.S. ETF issuer with $9 billion in assets under management and 34 ETFs on the market.