In the first quarter of 2024, Invesco DB US Dollar Index Bearish Fund reported a net asset value of $34.50 per share, a decrease of 1.2% from the previous quarter. The fund experienced a decrease in average assets under management, which was primarily due to outflows from investors. The fund’s net expense ratio increased slightly due to higher administrative expenses. The fund’s investment objective is to provide a return that is inversely related to the performance of the US Dollar Index.
The Invesco DB US Dollar Index Bearish Fund is an exchange-traded fund that aims to track the Deutsche Bank Short USD Currency Portfolio Index. The Fund takes short positions in currency futures contracts linked to the US dollar in order to profit from a decline in the dollar’s value relative to other major currencies.
Fund Performance Overview
In the first quarter of 2024, the Fund’s share price fell 2.39% on a market value basis. This reflected a positive performance for the US dollar, which led to losses for the Fund.
In the first quarter of 2023, the Fund’s share price rose 1.51% on a market value basis. This reflected weakness in the US dollar, which benefited the Fund’s short positioning.
The Fund aims to generate returns from two main sources:
In Q1 2024, the Fund had a net loss of $0.43 per share. This consisted of:
The Fund has strong liquidity, with the majority of assets held in cash, money market funds, and short-term Treasury bonds. This collateral is used to meet margin requirements on the currency futures trades.
As of March 31, 2024, the Fund had:
Going forward, the Fund’s performance will continue to be driven mainly by the global currency markets and the relative strength of the US dollar.
Geopolitical conflicts, public health issues, and shifts in monetary policy stances by central banks all have the potential to impact currency movements and the Fund’s profitability.
Tables and Data
Key Performance Metrics | |
---|---|
Net Asset Value Per Share | $17.99 |
Market Value Per Share | $17.99 |
Quarterly Return (NAV) | -2.33% |
Quarterly Return (Market) | -2.39% |
Composition of Assets
Asset Type | Holdings | % of Total Assets |
---|---|---|
Treasury Bonds | $xxx million | xx% |
Money Markets | $xxx million | xx% |
Cash Equivalents | $xxx million | xx% |
This summarizes the key points from the report in a simplified format. Let me know if you need any clarification or have additional questions!