44 unchanged sentences
Interest on the primary deposit account, if any, accrues daily and is paid monthly.
−Removed: The interest rate in effect as of March 31, 2020 was an annual nominal rate of 0.00%.
−Removed: The following chart provides the daily rate paid by the Depository since March 31, 2015:
+Added: The interest rate in effect as of June 30, 2020 was an annual nominal rate of 0.00%.
+Added: The following chart provides the daily rate paid by the Depository since June 30, 2015:
In exchange for a fee, the Sponsor bears most of the expenses incurred by the Trust.
2 unchanged sentences
When the interest deposited, if any, exceeds the sum of the Sponsor’s fee for the prior month plus other Trust expenses, if any, the Trustee converts the excess into USD at the 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).
−Removed: 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):
−Removed: FXC Distribution History
−Removed: Annualized Yield
+Added: The Trust did not make any distributions during the quarter ended June 30, 2020.
Critical Accounting Policies
4 unchanged sentences
Results of Operations
−Removed: During the three months ended March 31, 2020, an additional 250,000 Shares were created in exchange for 24,661,434 Canadian Dollars and 150,000 Shares were redeemed in exchange for 14,796,861 Canadian Dollars.
−Removed: As of March 31, 2020, the number of Canadian Dollars owned by the Trust was 162,765,464, resulting in a redeemable capital Share value of $114,356,721.
+Added: During the six months ended June 30, 2020, an additional 450,000 Shares were created in exchange for 44,375,183 Canadian Dollars and 450,000 Shares were redeemed in exchange for 44,375,921 Canadian Dollars.
+Added: In addition, 100,478 Canadian Dollars were withdrawn to pay the portion of the Sponsor’s fee that exceeded interest earned.
+Added: As of June 30, 2020, the number of Canadian Dollars owned by the Trust was 152,799,675, resulting in a redeemable capital Share value of $112,153,039.
During the year ended December 31, 2019, an additional 850,000 Shares were created in exchange for 83,848,876 Canadian Dollars and 1,550,000 Shares were redeemed in exchange for 152,900,891 Canadian Dollars.
As of December 31, 2019, the number of Canadian Dollars owned by the Trust was 152,900,891, resulting in a redeemable capital Share value of $117,963,792.
−Removed: A decrease in the Trust’s redeemable capital Share value from $117,963,792 at December 31, 2019 to $114,356,721 at March 31, 2020 was primarily the result of a decrease in the Closing Spot Rate from 0.7712 at December 31, 2019 to 0.7026 at March 31, 2020.
−Removed: Interest income decreased from $422,251 for the three months ended March 31, 2019 to $298,875 for the three months ended March 31, 2020, attributable primarily to a decrease in the weighted-average Canadian Dollars in the Trust coupled with a decrease in the annual nominal interest rate paid by the Depository, as set forth in the FXC Daily Rate chart above.
+Added: A decrease in the Trust’s redeemable capital Share value from $117,963,792 at December 31, 2019 to $112,153,039 at June 30, 2020 was primarily the result of a decrease in the Closing Spot Rate from 0.7712 at December 31, 2019 to 0.7342 at June 30, 2020.
+Added: Interest income decreased from $ 367,075 for the three months ended June 31 , 201 9 to $ 0 for the three months ended June 3 0 , 20 20 , and decreased from $ 789,326 for the six months ended June 30, 2019 to $ 298,875 for the six months ended June 30, 2020 , attributable primarily to a decrease in the weighted-average Canadian Dollars in the Trust coupled with a decrease in the annual nominal interest rate paid by the Depository, as set forth in the FXC Daily Rate chart above.
The Sponsor’s fee accrues daily at an annual nominal rate of 0.40% of the Canadian Dollars in the Trust.
−Removed: Due primarily to a decrease in the weighted-average Canadian Dollars in the Trust, the Sponsor’s fee decreased from $142,375 for the three months ended March 31, 2019 to $115,890 for the three months ended March 31, 2020.
−Removed: The only expense of the Trust during the three months ended March 31, 2020 was the Sponsor’s fee.
−Removed: The Trust’s net comprehensive income (loss) for the three months ended March 31, 2020 was $182,985 due to interest income of $298,875 exceeding the Sponsor’s fee of $115,890.
−Removed: The Trust’s net comprehensive income (loss) for the three months ended March 31, 2019 was $279,876 due to interest income of $422,251 exceeding the Sponsor’s fee of $142,375.
−Removed: Cash dividends per Share increased from $0.13 per Share for the three months ended March 31, 2019 to $0.15 per Share for the three months ended March 31, 2020.
−Removed: The increase in cash dividends per Share was primarily the result of a decrease in the weighted-average Shares Outstanding in the Trust.
+Added: Due primarily to a decrease in the weighted-average Canadian Dollars in the Trust, the Sponsor’s fee decreased from $122,613 for the three months ended June 30, 2019 to $109,564 for the three months ended June 30, 2020, and decreased from $264,988 for the six months ended June 30, 2019 to $225,454 for the six months ended June 30, 2020.
+Added: The only expense of the Trust during the three and six months ended June 30, 2020 and 2019 was the Sponsor’s fee.
+Added: The Trust’s net comprehensive income (loss) for the three months ended June 30, 2020 was $(109,564) due to the Sponsor’s fee of $109,564 exceeding interest income of $0.
+Added: The Trust’s net comprehensive income (loss) for the three months ended June 30, 2019 was $244,462 due to interest income of $367,075 exceeding the Sponsor’s fee of $122,613.
+Added: The Trust’s net comprehensive income (loss) for the six months ended June 30, 2020 was $73,421 due to interest income of $298,875 exceeding the Sponsor’s fee of $225,454.
+Added: The Trust’s net comprehensive income (loss) for the six months ended June 30, 2019 was $524,338 due to interest income of $789,326 exceeding the Sponsor’s fee of $264,988.
+Added: Cash dividends per Share decreased from $0.15 per Share for the three months ended June 30, 2019 to $0.00 per Share for the three months ended June 30, 2020, and decreased from $0.28 per Share for the six months ended June 30, 2019 to $0.15 per Share for the six months ended June 30, 2020.
+Added: The decrease in cash dividends per Share was primarily due to a decrease in the annual nominal interest rate paid by the Depository.
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.