The Yen ETF tracks the relative value of the Japanese currency against a basket of other currencies or a single currency.
ETF invests in futures contracts, debt securities, money market funds and cash deposits, mostly in yen.
Some yen ETFs match the current income generated from yen assets to a dividend yield, while others use this income to pay for the cost of managing the ETF.
There are also leveraged yen ETFs that give double long or short exposure to USD/JPY moves.
Historically, the yen has been considered a safe haven, meaning that investors seek it in times of heightened geopolitical risk.