NEW YORK–(BUSINESS WIRE)–WisdomTree (Pink Sheets: WSDT), a leading ETF sponsor and index developer, and The Dreyfus Corporation, part of BNY Mellon Asset Management, announced today the listing of the WisdomTree Dreyfus Emerging Currency Fund (CEW) on the NYSE Arca with an expense ratio of 0.55%.
Bruce Lavine, WisdomTree President & COO commented, “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. CEW should be attractive to investors interested in diversifying outside the U.S. 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 U.S. Dollar. Our clients asked us for a basket strategy to complement our individual country currency income funds and we are happy to deliver that today.”
Constituent currencies at launch: 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, the Fund is not a “money market” fund and it is not the objective of the Fund to maintain a constant share price.
There are risks associated with investing including possible loss of principal. In addition to the normal risks of investing, foreign investing involves special risks, such as risk of loss from currency fluctuation or political or economic uncertainty. The fund focuses its investments in specific regions or countries, thereby increasing the impact of events and developments associated with the region or country which can adversely affect performance. Investments in emerging markets are generally less liquid and less efficient than developed markets. Investments in currency involve additional special risks, such as credit risk, interest rate fluctuations, derivative investment risk and the effect of varied economic conditions. As the fund can have a high concentration in some issuers the fund can be adversely impacted by changes affecting issuers. Unlike typical exchange-traded funds, there are no indexes that the fund attempts to track or replicate. Thus, the ability of the fund to achieve its objectives will depend on the effectiveness of the portfolio manager. Please read the fund’s prospectus for specific details regarding the fund’s risk profile.
Investors should consider the objectives, risks, charges and expenses of the Funds carefully before investing. A prospectus containing this and other information is available at www.wisdomtree.com. Please read the prospectus carefully before investing.