Invesco Canadian Dollar Trust Files Q2 2024 10-Q

TL;DR

FXC 10-Q filed: Q2 2024 financials out, CAD exposure update.

AI Summary

Invesco CurrencyShares Canadian Dollar Trust filed its 10-Q for the period ending June 30, 2024. The filing details financial information for the Trust, including its assets and liabilities related to the Canadian Dollar. Specific financial figures and operational details for the second quarter of 2024 are presented.

Why It Matters

This filing provides investors with an update on the performance and financial health of the Invesco CurrencyShares Canadian Dollar Trust, which tracks the value of the Canadian dollar.

Risk Assessment

Risk Level: low — As a currency trust, its primary risk is currency fluctuation, which is inherent to its investment strategy.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 20240807 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Invesco CurrencyShares Canadian Dollar Trust (company) — Filer of the 10-Q
• Canadian Dollar (currency) — Underlying asset tracked by the Trust
• June 30, 2024 (date) — End of the reporting period
• August 7, 2024 (date) — Filing date of the 10-Q

FAQ

Filing Documents

• fxc-20240630.htm (10-Q) — 648KB
• fxc-ex31_1.htm (EX-31.1) — 15KB
• fxc-ex31_2.htm (EX-31.2) — 15KB
• fxc-ex32_1.htm (EX-32.1) — 9KB
• fxc-ex32_2.htm (EX-32.2) — 9KB
• img30771295_0.jpg (GRAPHIC) — 201KB
• img30771295_1.jpg (GRAPHIC) — 253KB
• img30771295_2.jpg (GRAPHIC) — 190KB
• 0000950170-24-092109.txt ( ) — 3560KB
• fxc-20240630.xsd (EX-101.SCH) — 293KB
• fxc-20240630_htm.xml (XML) — 183KB

Financial Statements

Financial Statements 1 Notes to Unaudited Financial Statements 8 ITEM 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 12 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 15 ITEM 4.

Controls and Procedures

Controls and Procedures 15 PART II. OTHER INFORMATION 16 Item 1.

Legal Proceedings

Legal Proceedings 16 Item 1A.

Risk Factors

Risk Factors 16 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 16 Item 3. Defaults Upon Senior Securities 16 Item 4. Mine Safety Disclosures 16 Item 5. Other Information 16 Item 6. Exhibits 17

– FINANCI AL INFORMATION

PART I – FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements. Invesco CurrencyShares Canadian Dollar Trust June 30, 2024 and December 31, 2023 (Unaudited) June 30, 2024 December 31, 2023 Assets Canadian Dollar deposits, interest bearing $ 57,138,963 $ 77,824,405 Canadian Dollar deposits, non-interest bearing — 1,716 Receivable from accrued interest 121,500 182,689 Total Assets $ 57,260,463 $ 78,008,810 Liabilities Accrued Sponsor's fee $ 18,754 $ 26,141 Total Liabilities 18,754 26,141 Commitments and Contingent Liabilities (Note 8) Redeemable Capital Shares and Shareholders' Equity Redeemable Capital Shares, at redemption value, no par value, 800,000 and 1,050,000 issued and outstanding, respectively 57,241,709 77,982,669 Shareholders' Equity: Retained Earnings — — Total Liabilities, Redeemable Capital Shares and Shareholders' Equity $ 57,260,463 $ 78,008,810 See accompanying Notes to Unaudited Financial Statements which are an integral part of the financial statements. 1 Invesco CurrencyShares Canadian Dollar Trust For the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Income Interest Income $ 401,847 $ 578,638 $ 860,144 $ 1,133,870 Total Income 401,847 578,638 860,144 1,133,870 Expenses Sponsor's fee ( 58,758 ) ( 98,059 ) ( 124,155 ) ( 195,155 ) Total Expenses ( 58,758 ) ( 98,059 ) ( 124,155 ) ( 195,155 ) Net Comprehensive Income (Loss) $ 343,089 $ 480,579 $ 735,989 $ 938,715 Basic and Diluted Earnings (Loss) per Share $ 0.41 $ 0.36 $ 0.85 $ 0.70 Weighted-average Shares Outstanding 827,473 1,340,110 865,385 1,349,724 See accompanying Notes to Unaudited Financial Statements which are an integral part of the f

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Cautionary Statement Regarding Forward-Looking Information This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipate," "expect," "intend," "plan," "believe," "seek," "outlook" and "estimate" and other similar words. Forward-looking statements are based upon our current expectations and beliefs concerning future developments and their potential effects on us. Such forward-looking statements are not guarantees of future performance. Various factors may cause our actual results to differ materially from those expressed in our forward-looking statements. These factors include fluctuations in the price of the Canadian Dollar, as the value of the Shares relates directly to the value of the Canadian Dollars held by the Trust and price fluctuations could materially adversely affect an investment in the Shares. Readers are urged to review the "Risk Factors" section contained in the Trust's most recent annual report on Form 10-K for a description of other risks and uncertainties that may affect an investment in the Shares. Neither Invesco Specialized Products, LLC (the "Sponsor") nor any other person assumes responsibility for the accuracy or completeness of forward-looking statements contained in this report. The forward-looking statements are made as of the date of this report, and will not be revised or updated to reflect actual results or changes in the Sponsor's expectations or predictions. Overview/Introduction The Invesco CurrencyShares Canadian Dollar Trust (the "Trust") is a grantor trust that was formed on June 8, 2006. The Shares began trading on the New York Stock Exchange under the ticker symbol "FXC"

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View this 10-Q filing on SEC EDGAR