WisdomTree Long JPY Short USD (LJPY.L)

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The WisdomTree Long JPY Short USD is a fully collateralized, UCITS-eligible Exchange Traded Product (ETP) designed to offer investors exposure to the Japanese Yen's valuation relative to the US Dollar. This ETP's performance mirrors the MSFXSM Long Japanese Yen Total Return Index (MSCEJPYL). Its total return is derived from two primary components: the daily gains or losses from foreign exchange forward contracts (specifically being long JPY and short USD) and any accrued interest revenue. This combined return is then adjusted to reflect all applicable product fees and associated costs. To illustrate, if the Japanese Yen strengthens by 1% against the US Dollar over a given day, the ETP's value is expected to rise by approximately 1%, before fees are factored in. Conversely, should the Yen weaken by 1% against the Dollar within a day, the ETP's value would similarly decrease by around 1%, excluding any charges.