24 unchanged sentences
Board of Managers
+Added: Melanie Ringold*
Board of Managers
2 unchanged sentences
The Board of Managers is composed of Messrs.
−Removed: Hartigan, Krugman and Zerr.
+Added: Hartigan, Krugman and Ms.
The Board of Managers has established an Audit Committee with the following members:
−Removed: Hartigan, Krugman and Zerr.
+Added: Hartigan, Krugman and Ms.
The overall purpose of the Audit Committee is to assist the Board of Managers with overseeing the Trust's financial statements, the Trust's compliance with legal and regulatory requirements, the qualifications and independence of the Trust's independent registered public accounting firm (the “independent auditor”), the performance of the internal audit function for the Trust, and the performance of the independent auditor.
4 unchanged sentences
Hartigan was Global Head of ETF Investments and Indexed Strategies at Invesco, Ltd.
−Removed: (“Invesco”), a global investment management company and affiliate of the Sponsor, since 2015.
+Added: (“Invesco”), a global investment management company and the Sponsor's parent company, since 2015.
In that role, he was responsible for oversight of all portfolio management activities of exchange-traded funds (“ETFs”), as well as providing support to the US ETF Board, serving as a global ETF expert and resource and providing day-to-day support.
5 unchanged sentences
Additionally, since September 2018, Ms.
−Removed: Gallegos has been Principal Financial and Accounting Officer – Investment Pools of Invesco Capital Management LLC, the managing owner of a suite of commodity exchange-traded funds (“ICM”), Head of North America Fund Reporting of Invesco, Ltd., a global investment management company (“Invesco”), and Vice President and Treasurer of Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Commodity Fund Trust and Invesco Exchange-Traded Self-Indexed Fund Trust, each a registered investment company offering series of exchange-traded funds (the “Invesco ETFs”).
+Added: Gallegos has been Principal Financial and Accounting Officer – Investment Pools of Invesco Capital Management LLC, the managing owner of a suite of commodity exchange-traded funds (“ICM”), Head of North America Fund Reporting of Invesco and Vice President and Treasurer of Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Commodity Fund Trust and Invesco Exchange-Traded Self-Indexed Fund Trust, each a registered investment company offering series of exchange-traded funds (the “Invesco ETFs”).
She has also served as Vice President (since March 2016), Principal Financial Officer (since March 2016) and Assistant Treasurer (since December 2008) for a suite of mutual funds advised by Invesco Advisers, Inc., a registered investment adviser (the “Invesco Funds”).
34 unchanged sentences
He is a Certified Treasury Professional (CTP).
−Removed: John Zerr (61) currently serves as a member of the Board of Managers of the Sponsor and has served in this capacity since April 6, 2018.
−Removed: Zerr is also a member of the Board of Managers of Invesco Capital Management and the Chief Operating Officer of Americas for Invesco Ltd., and has served in these roles since March 2006 and February 2018, respectively.
−Removed: Zerr previously served as the Managing Director and General Counsel for U.S.
−Removed: Retail of Invesco Management Group, Inc., a registered investment adviser affiliated with the Sponsor, from March 2006 through March 2018.
−Removed: Zerr has also been a Senior Vice President of IDI since March 2006.
−Removed: He also served as a Director and Secretary of that entity until February 2010 and March 2018, respectively.
−Removed: Zerr has served as Senior Vice President of Invesco Advisers, Inc., a registered investment adviser affiliated with the Sponsor, since December 2009.
−Removed: Zerr serves as a Director and Vice President of Invesco Investment Services, Inc., a registered transfer agency since May 2007.
−Removed: He also served as Secretary of that entity until March 2018.
−Removed: Zerr has served as Director, Senior Vice President, General Counsel and Secretary of a number of other Invesco wholly-owned subsidiaries which service or serviced portions of Invesco’s U.S.
−Removed: Retail business since May 2007 and since June 2010 with respect to certain Van Kampen entities engaged in the asset management business that were acquired by Invesco from Morgan Stanley.
−Removed: In each of the foregoing positions Mr.
−Removed: Zerr is responsible for overseeing legal operations.
−Removed: In such capacity, Mr.
−Removed: Zerr also is responsible for overseeing the legal activities of various Invesco funds.
−Removed: Zerr earned a BA degree in economics from Ursinus College.
−Removed: He graduated cum laude with a J.D.
−Removed: from Temple University School of Law.
+Added: Melanie Ringold (48) has been a Member of the Board of Managers of the Sponsor since July 31, 2024.
+Added: Ringold has also served as Head of Legal for the Americas at Invesco since January 2023.
+Added: In this role, she is responsible for overseeing legal support for all of Invesco's Americas business.
+Added: Prior to her current position, Ms.
+Added: Ringold served as Assistant General Counsel from March 2011 until January 2023, where she was responsible for overseeing legal support for the investments organization and co-chairing the firm's US Regulatory Change Committee.
+Added: Ringold earned a JD from the University of Houston Law Center and a BA degree in political science from the University of Michigan.
+Added: Ringold was listed as a principal of the Sponsor on July 31, 2024.
+Added: Code of Ethics
+Added: Because the Trust has no employees, officers or directors, it does not have a code of ethics.
+Added: Officers and employees of the Sponsor must comply with the Invesco Ltd.
+Added: Global Code of Conduct, a copy of which will be made available to Shareholders without charge, upon request by appointment at 3500 Lacey Road, Suite 700, Downers Grove, Illinois.
+Added: Insider Trading Policy
+Added: Affiliates of the Sponsor have adopted an Insider Trading Policy that applies to employees of Invesco.
+Added: The Insider Trading Policy operates in concert with the Code of Ethics and Personal Trading Policy for North America (collectively, the “Trading Policies”).
+Added: The Sponsor believes that the Trading Policies are reasonably designed to promote compliance with insider trading laws, rules and regulations with respect to the purchase, sale and/or other dispositions of securities, including Shares of the Trust, as well as applicable rules and regulations of the Exchange.
+Added: A copy of the Insider Trading Policy is filed as Exhibit 19.1 to this Annual Report on Form 10-K.
EXECUTIVE COMPENSATION
The Trust has no employees, officers or directors.
+Added: None of the managers or officers of the Sponsor receive compensation (including in the form of equity award grants) from the Trust.
The Sponsor receives a Sponsor’s fee, which accrues daily at an annual nominal rate of 0.40% of the Canadian Dollars in the Trust (including all unpaid interest but excluding unpaid fees, each as accrued through the immediately preceding day) and is paid monthly.
9 unchanged sentences
Name and Address of Beneficial Owner
−Removed: Directors and Officers of Invesco Specialized Products, LLC as a group
+Added: Managers and Officers of Invesco Specialized Products, LLC as a group
Less than 0.1%
7 unchanged sentences
All other Fees
+Added: (1) Audit-Related Fees for the fiscal year ended December 31, 2024 include fees billed for reviewing regulatory filings.
Approval of Independent Registered Public Accounting Firm Services and Fees
23 unchanged sentences
License Agreement dated as of April 6, 2018 between The Bank of New York Mellon and the Sponsor, incorporated herein by reference to Exhibit 10.1 to the Current Report on Form 8-K filed by the Trust on April 9, 2018.
+Added: Insider Trading Policies and Procedures.
Consent of PricewaterhouseCoopers LLP.
5 unchanged sentences
Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
−Removed: Policy Relating to Recovery of Erroneously Awarded Compensation
+Added: Policy Relating to Recovery of Erroneously Awarded Compensation, incorporated herein by reference to Exhibit 97 to the Annual Report on Form 10-K filed by the Trust on February 23, 2024.
Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because XBRL tags are embedded within the Inline XBRL document.
17 unchanged sentences
February 25, 2025
−Removed: /s/ JOHN ZERR
+Added: /s/ MELANIE RINGOLD
+Added: Melanie Ringold
February 25, 2025
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.