The Big Picture
The 10-year yield rose to 5.28% in a week of 29,000 new jobs
Simplify Currency Strategy ETF
$27.74+0.16 (+0.58%)
- 0.81%
- $215M
- +11.0%
- 8.67%
- 0.1M sh
- $27.41
- low $26.68high $32.20
The ETF.net FOXY Grade
F
Score 18 out of 100
- 9 of 9
Score 18 of 100 falls in the F band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F6 out of 100Rank 9 of 9Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C42 out of 100Rank 7 of 9Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F17 out of 100Rank 9 of 9Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D35 out of 100Rank 2 of 3Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D36 out of 100Rank 9 of 9
Our read on FOXY
FMost currency ETFs are a vault holding one foreign currency. FOXY is a trading desk: an actively run long/short book across foreign currencies, pairing an emerging-market carry strategy with G10 mean reversion. Simplify launched it in 2025.
The Fund seeks long-term capital appreciation through long and short foreign-currency positions. It combines carry exposure in emerging-market currencies with mean-reversion exposure in G10 currencies, seeking returns with low stock/bond correlations.
Why people hold it
- Takes both sides. Rather than tracking one exchange rate, it holds long and short positions in foreign currencies and seeks capital gains from the spread between them.simplify.us
- Two engines, not one: an emerging-market carry sleeve that leans on interest-rate differentials, plus a G10 mean-reversion sleeve that fades stretched moves in major currencies.simplify.us
- The rare strategy fund in a shelf of single-currency vehicles. Its peer group is dominated by trusts that each hold one currency (FXE, FXY, FXF); this one trades a basket actively.
- Comes in a standard 1940 Act fund wrapper, the same registration used by conventional ETFs, rather than a commodity-style grantor trust.
Worth knowing
- Costs 0.81% a year, roughly double the 0.40% charged by the single-currency trusts it sits beside. Active management and a long/short book are what you're paying for.
- Launched in 2025, so there's not much history yet. Carry and mean-reversion strategies behave differently across rate cycles, and this one hasn't seen many.
- Distributions are irregular rather than on a fixed schedule, and the payoff comes from currency positioning, not a stock or bond coupon.
FOXY Holdings
- Other
- 13
- 364%
- SBIL
Sectors
- Financials100.0%
FOXY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
FOXY$11,101
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FOXY |
|---|---|
| Year to date | +8.6% |
| 1 month | +0.5% |
| 3 months | −4.3% |
| 1 year | +11.0% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FOXY |
|---|---|---|
| 2026 YTD | +8.6% | |
| 2025 | +14.8% |
FOXY in the news
The Big Picture
The Fed hiked. The 30-year yield fell 1 basis point
FOXY Dividends
- 8.67%
- $2.39
- $0.23 per share
- Monthly
Distribution history
FOXY Risk
- 12.0%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.64
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −13.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −0.12
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FOXY Cost
0.81%
FOXY0.81%
- The middle half of Single Currency funds
- Median 0.40%
Every other Single Currency fund charges less.
Other funds in Single Currency
- CFXCInvesco CurrencyShares Canadian Dollar TrustExpense ratio 0.40%1 year return −1.9%
- CFXFInvesco CurrencyShares Swiss Franc TrustExpense ratio 0.40%1 year return −4.6%
- CUSDUWisdomTree Bloomberg U.S. Dollar Bullish FundExpense ratio 0.50%1 year return +5.6%
- CFXAInvesco CurrencyShares Australian Dollar TrustExpense ratio 0.40%1 year return +8.7%
- CUUPInvesco DB US Dollar Index Bullish FundExpense ratio 0.78%1 year return +8.0%