While the risk of buying this ETF is slighter than most the term "no brainer" is foolish. First of all the fund assumes credit risk in its structure through its purchases of CP and other short term USD instruments. Secoundly though it is unlikey that the Yuan will depeg and trade lower than USD there is still significant political risk involved. That being said I have been in this and will continue to grow position. It is the equivalent of a USD money market with a call option on the yuan.