Invesco CurrencyShares Canadian Dollar Trust

Invesco CurrencyShares Canadian Dollar Trust is a grantor trust that holds Canadian dollars and issues exchange-traded shares designed to track the U.S. dollar value of the Canadian dollar, less trust expenses. It gives investors a simple way to gain CAD exposure through a listed security without using derivatives or actively managing a currency position.

54,2 %

−52,2 %

— Invesco CurrencyShares Canadian Dollar Trust
%
Exchange-traded currency trust shares100% Listed shares that represent a proportional interest in Canadian dollars held by the trust.

The trust is bought by institutional and retail investors that want direct Canadian dollar exposure in a brokerage...

  • Retail investorsprimary

    Buy listed shares for convenient Canadian dollar exposure in a securities account.

  • Institutional investorsprimary

    Use the trust for tactical currency positioning, diversification, or hedging.

  • Authorized participantssecondary

    Create and redeem 50,000-share baskets to keep share price aligned with NAV.

  • Market makers and trading deskssecondary

    Provide liquidity and arbitrage the spread between market price and NAV.

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

  • •U.S.-listed on NYSE Arca under ticker FXC
  • •Economic exposure is to the Canadian dollar and CAD/USD rate
  • •Trust is formed and administered in the United States
  • •Depository account is maintained through JPMorgan Chase Bank, London Branch
  • •Pricing uses WM Company London fixing for CAD/USD

The trust’s strategy is to remain a passive, low-friction vehicle that closely tracks the U.S...

01
Maintain tight tracking to CAD/USDshort-term

The product value proposition depends on minimizing tracking error versus the Canadian dollar.

02
Preserve liquidity and tradabilityshort-term

Investors need an efficient listed proxy that can be bought and sold like a stock.

03
Keep the structure simple and transparentmedium-term

A passive, no-derivatives design reduces complexity and makes the trust easier to use.

The main risk is that the trust’s share price moves with the Canadian dollar, so currency volatility directly affects...

high

Canadian dollar depreciation

The trust is designed to reflect CAD value, so a weaker Canadian dollar lowers share value.

Scope
Direct exposure through held Canadian dollars and CAD/USD fixing
Materiality
high
high

Foreign exchange volatility

Currency markets can move sharply on rates, inflation, oil prices, and macro sentiment.

Scope
CAD/USD exchange rate
Materiality
high
medium

Operational and cyber risk at service providers

The trust relies on the trustee, sponsor, depository, and market infrastructure to function.

Scope
Basket processing, NAV calculation, website publication
Materiality
medium
medium

Geopolitical and trade-policy shocks

Tariffs, conflicts, and policy changes can alter FX flows and risk appetite.

Scope
Canada-U.S. trade and global risk sentiment
Materiality
medium
Daily fair value/NAV measurement
Affects share valuation and reported trust assets/liabilities
Sponsor fee accrual
Directly lowers net comprehensive income
Interest income and deposit rates
Can swing the trust between net income and net loss
Foreign currency translation
Affects presentation of results and valuation

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: 28.4.2026