I have some of my cash in MERKX and what I like about it is that it doesn’t try to speculate in currency markets or chases higher yields etc. They go for the currencies of countries that have sound monetary policies. However, its expense ratio of 1.30% is just too high and for a big cash portoflio, you end up paying too much in fees. I would like something under 1%. Pimco also has currency or international bond funds.