But what the hell does that MEAN? What makes it go up and down? If I buy it, what do I own? Can somebody dumb this down for me?
I've noodled on this since I got home, am I over thinking this? If I just shorted all those currency futures, I would basically have the same thing? So I could get flat by buying UUP and also buying the basket of foreign currency futures? This is the most puzzling ETF I've run across.
The UUP tracks the DXY, so you also have to factor in the certain proportions each currency pair plays in the value of the index.
Answer this and you got it .... If you have 3 apples in a basket and want to give one apple to each of 3 people, how can you do this and still have one apple left in the basket?