Invesco CurrencyShares Australian Dollar Trust

Invesco CurrencyShares Australian Dollar Trust is a grantor trust that issues exchange-traded shares backed by Australian Dollars held in custody. Its shares, traded under FXA, are designed to track the U.S. dollar value of the Australian Dollar plus accrued interest, less trust expenses, giving investors a listed vehicle for currency exposure without using derivatives.

74,2 %

−12,7 %

— Invesco CurrencyShares Australian Dollar Trust
%
Exchange-traded currency exposure100% Listed shares that provide exposure to the Australian Dollar versus the U.S. dollar.
Trust administration and custody0% Operational services around holding Australian Dollars, calculating NAV, and processing baskets.

The Trust is used by institutional and retail investors that want a simple, exchange-listed way to gain exposure to the...

  • Institutional investorsprimary

    Asset managers, hedge funds, and other institutions buy FXA to gain liquid AUD exposure in a securities wrapper.

  • Retail investorsprimary

    Individual investors use the shares for straightforward exposure to the Australian Dollar through a brokerage account.

  • Portfolio hedgerssecondary

    Investors with Australia-linked assets or liabilities use the Trust to manage currency exposure.

The Trust is organized in the United States and its shares trade on NYSE Arca, but the economic exposure is to the...

  • •United States listing on NYSE Arca under ticker FXA
  • •AUD exposure tied to Australia’s currency and macro backdrop
  • •Cash deposits maintained with JPMorgan Chase Bank, London Branch
  • •NAV translated into USD using the AUD/USD closing spot rate

The Trust’s strategy is to remain a passive, low-complexity currency vehicle that closely tracks the Australian Dollar...

01
Maintain tight tracking to AUD/USDshort-term

The product value proposition depends on minimizing tracking error versus the Australian Dollar.

02
Preserve low operating frictionshort-term

Lower expenses help the share price better reflect the underlying currency exposure.

03
Support investor usability and transparencymedium-term

Listed currency exposure must be easy to trade and understand for both retail and institutional users.

The Trust’s main risk is that the Australian Dollar can fall sharply versus the U.S. dollar, directly reducing share...

high

Australian Dollar depreciation

The Trust is designed to mirror the AUD in USD terms, so a weaker Australian Dollar lowers share value.

Scope
AUD/USD exchange rate
Materiality
high
high

Foreign exchange volatility

Currency markets are influenced by rates, trade flows, policy actions, and risk sentiment, all of which can move quickly.

Scope
AUD/USD and broader FX markets
Materiality
high
medium

Commodity and China exposure

Australia’s export-oriented economy and China’s role as a major export partner can affect AUD performance.

Scope
Macro conditions affecting Australian Dollar demand
Materiality
medium
medium

Expense drag versus interest income

If interest earned on deposits does not exceed sponsor and trust expenses, the Trust must use Australian Dollars to cover costs.

Scope
Trust economics and NAV per share
Materiality
medium
Foreign currency translation
Affects NAV, income presentation, and period-to-period comparability
Daily valuation of holdings
Directly affects share value and reported trust assets
Sponsor fee accrual
Material to returns because the Trust has a narrow expense base
Interest income on deposit accounts
Can change reported comprehensive income and NAV dynamics

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INVESCO DB US DOLLAR INDEX BEARISH FUND

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: 28/04/2026