It buys the three highest yielding currencies and shorts the lowest ones on the G-10 countries, something like that. Does anyone know?
www.dbfunds.db.com/dbv/index.aspx It's actually a powershare ETF, symbol DBV. They call it the G10 Currency harvest fund, or something close to that.
Looks like a very interesting ETF. Decent returns, low correlation to other investments. They should probably hire ElectricSavant to be their portfolio manager though.