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CYB(China WisdomTree Yuan Bond ETF) tracking error?

|Includes: WisdomTree Chinese Yuan ETF (CYB)

I know that CYB invests in US money market instruments and then enter into similiar size of currency forward in the Yuan. As the Yuan appreciation is much expected in the market, the NDFs are pricing it in as well.

I was wondering how come the price of CYB doesn't seem to reflect that. It is decreasing instead..

Anyone would know why?