My thinking was that this is something that (as an ETF) could be held for a reasonable length of time. e.g. after making an investment the gain or loss is not realised until you try to sell.
On that basis, an investment could be made on a premis that eventually, e.g. within the next two years we could expect to see the differential between the NZ Dollar and other currencies e.g. the GBP or US Dollar (another fund option) narrow.
I guess there is a 50/50 chance of being right either way, and that the current differential between currencies is an outlier (in terms of statistical standard deviation) compared with the norm?
From what I have read, ETF's that do not trade very often tend to have wide spreads.
Just for a bit of fun, I am noting todays price here based on Ian's link at 4,280.50 and we can use the link above to see how it is all doing in six months time or even further off into the future when looking back at this thread.