Invesco CurrencyShares Euro Trust

Invesco CurrencyShares Euro Trust is a grantor trust that holds euro and issues exchange-traded shares designed to track the U.S. dollar value of the euro, plus any accrued interest, less trust expenses. The shares trade on NYSE Arca under the ticker FXE and give investors a simple way to gain euro exposure through a listed security rather than holding currency directly.

67,6 %

+7,4 %

— Invesco CurrencyShares Euro Trust
%
Exchange-traded euro exposure100% Listed shares that seek to mirror the U.S. dollar price of euro plus accrued interest, net of expenses.

The Trust serves institutional and retail investors that want euro exposure without opening foreign exchange accounts...

  • Institutional investorsprimary

    Asset managers, hedge funds, and other institutions buy FXE to express euro views or hedge euro exposure in portfolios.

  • Retail investorsprimary

    Individual investors use the shares as a simple, exchange-listed way to participate in euro moves.

  • Hedging userssecondary

    Investors with euro-linked assets or liabilities use the trust to offset currency risk.

The Trust is U.S.-listed and traded on NYSE Arca, but its economic exposure is to the euro and the euro/U.S...

  • •Listed and traded in the United States on NYSE Arca
  • •Underlying exposure is the euro, not a multi-country operating business
  • •Trust administration involves New York and London service providers
  • •Performance is driven by eurozone and U.S. FX markets
  • •No country revenue disclosure because the Trust is not an operating company

The Trust’s strategy is purely passive: hold euro, issue and redeem baskets, and keep the shares closely aligned with...

01
Tight tracking of euro/USDshort-term

The product value proposition depends on closely reflecting the euro price in USD after expenses.

02
Maintain exchange liquidity and tradabilityshort-term

Investors need efficient entry and exit through NYSE Arca trading and basket creation/redemption.

03
Preserve a low-cost passive structuremedium-term

Lower expenses improve tracking and make the trust more attractive versus alternative euro exposure methods.

The main risk is that FXE’s value moves directly with the euro/U.S. dollar exchange rate, so currency volatility can...

high

Euro/U.S. dollar exchange-rate volatility

The shares are designed to track the euro in USD terms, so currency swings pass through directly to investors.

Scope
EUR/USD spot rate
Materiality
high
high

Macro and policy shocks affecting the euro

ECB/Fed policy, inflation, tariffs, sovereign debt concerns, and geopolitical events can move the currency materially.

Scope
European and U.S. monetary policy
Materiality
high
medium

Expense drag exceeding interest income

If interest earned on euro balances is below trust expenses, euro must be withdrawn to pay costs, reducing per-share backing.

Scope
Sponsor fee and depository interest rate
Materiality
medium
medium

Third-party operational and cyber risk

The Trust depends on the Sponsor, Trustee, Depository, and exchange infrastructure for administration and trading.

Scope
Service providers and transaction processing
Materiality
medium
Foreign currency translation and NAV measurement
Per-share NAV and reported asset values
Accrued interest and expense accruals
Net comprehensive income and euro backing per share
Fair value of currency holdings
Daily NAV and investor returns

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: 28/04/2026