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 June 30, 2021 was an annual nominal rate of 0.00%.
−Removed: The following chart provides the daily rate paid by the Depository since June 30, 2016:
+Added: The interest rate in effect as of September 30, 2021 was an annual nominal rate of 0.00%.
+Added: The following chart provides the daily rate paid by the Depository since September 30, 2016:
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: The Trust did not make any distributions during the quarter ended June 30, 2021.
+Added: The Trust did not make any distributions during the quarter ended September 30, 2021.
Critical Accounting Policies
4 unchanged sentences
Results of Operations
−Removed: During the six months ended June 30, 2021, an additional 1,650,000 Shares were created in exchange for 162,086,662 Canadian Dollars and 950,000 Shares were redeemed in exchange for 93,321,372 Canadian Dollars.
+Added: During the nine months ended September 30, 2021, an additional 1,700,000 Shares were created in exchange for 166,993,910 Canadian Dollars and 1,800,000 Shares were redeemed in exchange for 176,698,847 Canadian Dollars.
In addition, 665,226 Canadian Dollars were withdrawn to pay the portion of the Sponsor’s fee that exceeded interest earned.
−Removed: As of June 30, 2021, the number of Canadian Dollars owned by the Trust was 260,194,495, resulting in a redeemable capital Share value of $210,060,871.
+Added: As of September 30, 2021, the number of Canadian Dollars owned by the Trust was 181,479,050, resulting in a redeemable capital Share value of $143,196,799.
During the year ended December 31, 2020, an additional 1,000,000 Shares were created in exchange for 98,523,433 Canadian Dollars and 600,000 Shares were redeemed in exchange for 59,135,871 Canadian Dollars.
1 unchanged sentence
As of December 31, 2020, the number of Canadian Dollars owned by the Trust was 191,849,213, resulting in a redeemable capital Share value of $150,539,263.
−Removed: An increase in the Trust’s redeemable capital Share value from $150,539,263 at December 31, 2020 to $210,060,871 at June 30, 2021, was primarily the result of an increase in the number of Shares outstanding from 1,950,000 at December 31, 2020 to 2,650,000 at June 30, 2021 coupled with an increase in the Closing Spot Rate from 0.7849 at December 31, 2020 to 0.8076 at June 30, 2021.
−Removed: No interest income was earned during the three months ended June 30, 2021 and 2020, due to an annual nominal interest rate which remained at or below 0.00% through those periods, and interest income decreased from $298,875 for the six months ended June 30, 2020 to $0 for the six months ended June 30, 2021, attributable primarily to 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 $150,539,263 at December 31, 2020 to $143,196,799 at September 30, 2021, was primarily the result of a decrease in the number of Shares outstanding from 1,950,000 at December 31, 2020 to 1,850,000 at September 30, 2021.
+Added: No interest income was earned during the three months ended September 30, 2021 and 2020, due to an annual nominal interest rate which remained at or below 0.00% through those periods, and interest income decreased from $ 298,875 for the nine months ended September 30, 2020 to $ 0.00 for the nine months ended September 30, 2021 attributable primarily to 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 an increase in the weighted-average Canadian Dollars in the Trust, the Sponsor’s fee increased from $109,564 for the three months ended June 30, 2020 to $179,067 for the three months ended June 30, 2021, and increased from $225,454 for the six months ended June 30, 2020 to $347,997 for the six months ended June 30, 2021.
−Removed: The only expense of the Trust during the three and six months ended June 30, 2021 and 2020 was the Sponsor’s fee.
−Removed: The Trust’s net comprehensive income (loss) for the three months ended June 30, 2021 was $(179,067) due to the Sponsor’s fee of $179,067 exceeding interest income of $0.
−Removed: 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.
−Removed: The Trust’s net comprehensive income (loss) for the six months ended June 30, 2021 was $(347,997) due to the Sponsor’s fee of $347,997 exceeding interest income of $0.
−Removed: 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.
−Removed: Cash dividends were not paid by the Trust for the three months ended June 30, 2021 and 2020 as the Trust’s interest income did not exceed the Trust’s expenses during those periods.
−Removed: Cash dividends decreased from $0.15 per Share for the six months ended June 30, 2020 to $0.00 per Share for the six months ended June 30, 2021.
+Added: Due primarily to an increase in the weighted-average Canadian Dollars in the Trust, the Sponsor’s fee increased from $128,082 for the three months ended September 30, 2020 to $189,939 for the three months ended September 30, 2021, and increased from $353,536 for the nine months ended September 30, 2020 to $537,936 for the nine months ended September 30, 2021.
+Added: The only expense of the Trust during the three and nine months ended September 30, 2021 and 2020 was the Sponsor’s fee.
+Added: The Trust’s net comprehensive income (loss) for the three months ended September 30, 2021 was $(189,939) due to the Sponsor’s fee of $189,939 exceeding interest income of $0.
+Added: The Trust’s net comprehensive income (loss) for the three months ended September 30, 2020 was $(128,082) due to the Sponsor’s fee of $128,082 exceeding interest income of $0.
+Added: The Trust’s net comprehensive income (loss) for the nine months ended September 30, 2021 was $(537,936) due to the Sponsor’s fee of $537,936 exceeding interest income of $0.
+Added: The Trust’s net comprehensive income (loss) for the nine months ended September 30, 2020 was $(54,661) due to the Sponsor’s fee of $353,536 exceeding interest income of $298,875.
+Added: Cash dividends were not paid by the Trust for the three months ended September 30, 2021 and 2020 as the Trust’s interest income did not exceed the Trust’s expenses during those periods.
+Added: Cash dividends decreased from $0.15 per Share for the nine months ended September 30, 2020 to $0.00 per Share for the nine months ended September 30, 2021.
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.