Commsec are offering free brokerage on the float of the new ETIS's. I think theres about 50 or so leading NYSE equities.
My question is: Will this give me exposure to exchange rates.
I want to take the position that the AUD is overvalued and will depreciate. Thus if I invest in NYSE ETIS's I will capitalize on this position.
Haven't really read up on it a lot, but they essentially peg the price of the ETIS with the NYSE after conversion at the exchange rate.
Pretty sure im correct on this, but wanted some backup.