Invesco CurrencyShares Swiss Franc Trust

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

−100,0 %

— Invesco CurrencyShares Swiss Franc Trust
%
Exchange-traded currency trust shares100% Listed shares that represent a proportional interest in Swiss francs held by the trust.
Creation and redemption mechanism0% Basket-based issuance and redemption against Swiss franc deposits and withdrawals.
Trust administration and sponsor services0% Administrative oversight, custody coordination, listing support, and sponsor fee arrangements.

The trust serves institutional and retail investors that want a simple, listed way to gain exposure to the Swiss franc...

  • Institutional investorsprimary

    Buy FXF for portfolio allocation, hedging, and macro currency positioning.

  • Retail investorsprimary

    Buy FXF for simple exchange-listed access to Swiss franc exposure.

  • Hedgers and tactical traderssecondary

    Use the trust as a liquid proxy for CHF moves and short-term currency views.

The trust is U.S.-listed and operated from the United States, with shares trading on NYSE Arca...

  • •U.S.-listed on NYSE Arca under ticker FXF
  • •Economic exposure is to the Swiss franc and Switzerland
  • •NAV is calculated in USD using CHF/USD exchange rates
  • •Service providers include U.S. and London-based institutions

The trust’s strategy is to remain a passive, low-complexity currency vehicle that closely tracks the Swiss franc in U.S...

01
Maintain tight tracking of Swiss franc performanceshort-term

The product value proposition depends on mirroring the currency as closely as possible.

02
Preserve exchange-traded liquidity and accessibilitymedium-term

Investors need a tradable proxy for CHF exposure with efficient creation/redemption.

03
Keep the structure operationally simplelong-term

A passive trust with no employees or derivatives reduces complexity and execution risk.

The trust is exposed primarily to Swiss franc exchange-rate volatility, since share value moves directly with CHF/USD...

high

Swiss franc exchange-rate volatility

The trust is designed to track CHF/USD, so currency moves flow directly into share value.

Scope
Share price and investor returns
Materiality
high
medium

Official-sector sales of Swiss francs

Large central-bank or government sales could increase supply and weaken the franc.

Scope
Currency price and tracking performance
Materiality
medium
medium

Geopolitical and macroeconomic shocks

Armed conflict, tariffs, and policy shifts can create abrupt FX volatility and safe-haven flows.

Scope
CHF demand, liquidity, and pricing
Materiality
medium
medium

Third-party operational and cyber risk

The trust depends on the sponsor, trustee, depository, and exchange systems to function.

Scope
Shareholder transactions, basket processing, and NAV publication
Materiality
medium
low

Negative interest rates and operating expenses

Interest income may be reduced or offset by fees and negative deposit rates.

Scope
Net comprehensive income and tracking drag
Materiality
medium
Daily NAV and foreign exchange valuation
Directly affects reported NAV per share and investor returns
Interest accrual on deposit accounts
Affects periodic income and distribution capacity
Sponsor fee accrual
Creates ongoing drag on asset value and performance
Foreign currency translation
Can influence presentation of assets, liabilities, and results

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: 28.4.2026