Rydex intros currency-based exchange-traded trust

Rydex Investments of Rockville, Md., today announced that shares of its exchange traded trust, CurrencyShares Russian Ruble Trust (XRU), will begin trading today. An exchange traded trust is similar to an exchange traded fund. The Russian Ruble Trust complements the firm’s lineup of eight currency-based exchange traded products that track the euro, Australian dollar, British pound, Canadian dollar, Japanese yen, Mexican peso, Swedish krona and Swiss franc. The CurrencyShares suite has attracted approximately $2.2 billion in assets. “Currency has historically shown a low correlation to stocks and bonds, which has made it an attractive asset class for financial professionals seeking portfolio diversification,” Edward Lopez, director of ETF strategies at Rydex, said in a statement. “In addition to potential diversification benefits, CurrencyShares Russian Ruble Trust offers pure-play access for investors who wish to participate in the growth of an emerging-market economy.”