Why is it that none of the big money managers (Fidelity, Vanguard, State Street...) offer mutual funds or ETFs denominated in currencies other than USD?
My first thought is that it doesn't really matter what currency a fund is denominated in. In theory, if the dollar inflates by 100% tomorrow, the value of ETFs like HAO, DRW, EEM, or GSG in USD should increase by 100%. The same should hold true for a scenario in which USD depreciates by 100% against all other currencies, correct?
Obviously, USD depreciating by so much in just one day would have a huge impact on global economy and stability of the financial system as a whole, but in general, would you say that it doesn't really matter in what currency a fund is denominated in (given it invests in non-US assets)?
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