WisdomTree Short JPY Long USD is an exchange traded product (ETP) designed to provide investors with a short exposure to the Japanese Yen (JPY) relative to the US Dollar (USD). It achieves this through synthetic replication using unfunded swaps backed by collateral, tracking the performance of an index that reflects the daily returns from rolling currency forward contracts positioned short JPY and long USD. The product incorporates the interest rate differential between the two currencies, delivering a total return that includes both spot price movements and collateral yield adjusted for fees. Fully collateralised with cash or transferable securities held independently, it aims to mitigate counterparty risk while offering transparent performance. WisdomTree Short JPY Long USD serves retail and institutional investors interested in currency markets, enabling targeted bets on USD strength against JPY without direct forex trading. Issued by WisdomTree Foreign Exchange Limited and domiciled in Jersey, this UCITS-eligible ETP facilitates on-demand creation and redemption by authorised participants.