Make Better Moves Into Currencies

This column was originally published on RealMoney on Jan. 30 at 7:15 a.m. EST. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.

I've found myself fielding the same question a number of times recently: What's the best way to get foreign currency exposure? Increasingly, I've been replying the same way: Just buy the currency ETFs.

Roger Nusbaum has done a good job of describing these vehicles, so I'll skip the basics. The point of this article will be to uncover whether some are more desirable than others for gaining such exposure.

Counting the Cost

Let's say someone wanted to buy the British pound. ...