ICI

iPath Optimized Currency Carry ETN
*Unless otherwise stated, data provided by FactSet.

ICI Fund Description

The iPath Optimized Currency Carry ETN tracks an index that uses forward contracts in a carry trade strategy: borrow in currencies with low rates and lend in those with high rates. It uses developed currencies only.

ICI Factset Analytics Insight

The notes have been accelerated; last day of trading was April 12, 2018. ICI has delivered decent returns over the past 12 months, but weakening investor interest makes it hard to recommend. The ETN’s carry trade strategy has short exposure to currencies with low interest rates and long exposure to those with high rates. Still, higher local interest rate does not necessarily mean an appreciating currency. ICI had decent returns, with low correlations to major asset classes as the bright spots. Investors—already in short supply—have headed for the exits as AUM has dipped. Weak interest shows up in trading data too: Spreads are wide, undercutting the advantage of a low fee.

ICI Charts And Performance

Price Chart ($)
Total Return Chart (%)
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
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Select ETFs to compare their performance:
PERFORMANCE [as of 07/01/20] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
ICI 6.25% 5.13% 5.13% -4.80% -1.17% -1.35% -1.58%
ticker (NAV) -0.27% 1.17% -6.25% -6.46% -1.18% -1.31% -1.72%
Barclays Intelligent Carry Index -- -- -- -- -- -- -1.72%
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

ICI Summary Data

iPath
01/31/08
Exchange-Traded Note
0.65%
$765.06K
$2.87K
48.29%

ICI Portfolio Data

Long/Short Currency
0.00%
N/A
0

ICI Index Data

Barclays Intelligent Carry Index
Equal
Interest Rates
N/A

ICI Portfolio Management

0.65%
--
--
--

ICI Tax Exposures

39.60% / 39.60%
--
Ordinary income
No

ICI Fund Structure

Exchange-Traded Note
No
N/A
N/A / N/A
Barclays Bank PLC
Low
Closing
None
Cboe Book Viewer
Top Of Book
Last 10 Trades
Bats BZX Real-time Quote -

ICI Factset Analytics Block Liquidity

As of 07/02/20
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of ICI. ICI is rated a 5 out of 5.

ICI Tradability

78
$2.87K
6
0
48.29%
$19.47
-6.41%
-0.16% / -7.65%
None
100.00%
50,000
0.00
0.00%
0%
0
$38.55
5

ICI Asset Allocation

Short
Long
Net
--
--

0.00%

--
--

0.00%

--
--

0.00%

--
--

0.00%

ICI Top 5 Holdings Short

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ICI Performance Statistics

-6.46%
2.74%
-5.70%
-0.04
-0.05
-0.97
11.72

ICI Correlations (Daily Returns 12 Mo)

0.53
-0.30
0.34