This exchange traded fund involves several concepts that are not my specialty and which I tend to avoid. These concepts are foreign exchange trading, using futures to speculate on forex, leveraging risky investments, and long/short strategies.
The problem with long/short funds is that there is always a chance of the spread between the long and short sides widening or staying the same. That widening on each side can produce twofold losses, before leverage. Investors like to say that 'It Can't Happen Here', but as the Nobel Prize winning managers of Long Term Capital Management found out, 'It Can Happen Here'.
I am not sure if investors are psychologically prepared for volatile investments whose volatility increases with market stress. FOREX trading is very volatile. Most people aren't as risk tolerant as they think, and should view investing as being about risk avoidance, and not risk tolerance. I'm not sure if people need what Roger Nusbaum called a "high risk cash investment". A high yield money market account should be enough for most people. If they wanted foreign currency exposure, I think that a global floating rate income fund would be the best choice
Historically, the currency convergence that Deutsche Bank describes in the prospectus does occur. It is also possible that the convergence might not occur -- or even reverse -- under market conditions that have never been seen before. The collective history of the financial markets is very short, and unusual events occur much more often than would be expected.