2. WisdomTree Indian Rupee ( (ICN)). You probably shouldn't mention growth in China without recognizing the tremendous GDP strides in neighboring India. Due to inflation concerns, and central bank interest rate hikes in the country, investors have dramatically sold off shares of Indian Stock ETFs.
That said, ICN has an "embedded income yield" of 5.3%. The calculation represents the annualized rate of return generated by the exchange-traded fund's investment in forward currency contracts; it assumes that foreign exchange rates remain constant and endeavors to show the yield of the ETF without the impact of currency exchange rates.
Though complex in implementation and explanation, ICN offers one way for investors to get basic exposure to the rupee. If you do not require additional pan-Asian stock exposure, but want a currency that has made steady gains against the buck, ICN is above its short-term and long-term moving averages.