Company: FXC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027265
Chunk: 61

Company: Invesco CurrencyShares Canadian Dollar Trust
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 61
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 prevailing market rate and distributes the USD as promptly as practicable to Shareholders on a pro-rata basis (in accordance with the number of Shares that they own). Distributions paid during the current reporting period follow (annualized yield reflects the estimated annual yield an investor would receive if a monthly distribution stayed the same for the entire year going forward, and is calculated by annualizing the monthly distribution and dividing by the Trust NAV for the dates listed below): 

    FXC Distribution History

    Date
     
    Value

    NAV

    Yield

    Annualized Yield

    10/1/2024
     
    $
    0.10484

    $
    72.45

    0.14
    %

    1.76
    %

    11/1/2024
     
    $
    0.09740

    $
    70.21

    0.14
    %

    1.63
    %

    12/2/2024
     
    $
    0.07648

    $
    69.88

    0.11
    %

    1.33
    %

Results of Operations 

During the years ended December 31, 2024 and 2023, the Trust's net comprehensive income (loss) was, in part, impacted by market volatility resulting from expectations around the Federal Reserve (the “Fed”) easing and heightened geopolitical concerns for 2024, and the US banking sector turmoil for 2023 which are considered to be unusual or infrequent events. Although the full and direct impact of Fed easing expectations, rising geopolitical tensions, and the US banking sector turmoil on the Trust's net comprehensive income (loss) during the years ended December 31, 2024 and 2023 cannot be known, it is believed that they have each independently impacted the Closing Spot Rate, the interest rate paid by the Depository, and the global economy and markets generally, including the number of Shares created and redeemed by the Trust.

The Canadian dollar (CAD/USD) posted negative performance in 2024, mainly due to US dollar strength and weak energy prices. The Fed’s higher-for-longer rhetoric and US economic resilience pushed out expectations for rate cuts in the first half of the year; higher rates generally provide support for the country’s currency. While rising energy prices due to geopolitical tensions did limit some of the downside in Q1, this became a headwind in Q2