FXF is the first ETF option for those interested in accessing the Swiss franc. FXF holds Swiss francs directly in a deposit account, allowing the fund to closely track the CHF/USD spot exchange rate. Still, it is worth noting that: 1) there's no deposit insurance on its holdings, so it carries credit risk of its depository, JPMorgan, and 2) distributions and share sales are always taxed at ordinary-income rate, regardless of holding period. Since the fund simply holds currency, institutional investors should expect straightforward block execution.
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