During the weekend of August 22/23, our third-party Administrator (The Bank of New York Mellon – BNYM) experienced a technical malfunction resulting in it being unable to calculate timely NAVs for its mutual funds and ETF clients, including the PowerShares ETFs. As we disclosed to you last week, we experienced a delay in the dissemination of the NAV. PowerShares worked aggressively with BNYM to resolve the issue. We are pleased to report that the malfunction has been corrected by the Administrator and that the system is back to normal. The NAV that is being disseminated today is the most recent NAV for the Funds (as of Thursday, September 3).
For primary market participants, please note that, in accordance with the Prospectus and the SAI for each PowerShares ETF, orders received before the cut-off time on any given day were processed at the NAV that was calculated by the Administrator for that day. Given the delay in the calculation and dissemination of the NAV by the Administrator, we expect that most of the orders that the Administrator received last week will settle in the normal settlement cycle. Certain orders may experience (or have experienced) a delay in settlement. Secondary market transactions were not affected by the delay and are anticipated to settle in ordinary course.
For additional information please contact PowerShares at 1-800-983-0903.
- Invesco CurrencyShares® Japanese Yen Trust
Alternative - Currency
The Invesco CurrencyShares® Japanese Yen Trust (the "trust") is designed to track the price of the Japanese yen, and trades under the ticker symbol FXY. The Japanese yen is the national currency of Japan and the currency of the accounts of the Bank of Japan, the Japanese central bank. The Fund is rebalanced quarterly.
Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. Fund performance reflects applicable fee waivers, absent which, performance data quoted would have been lower. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.
The net asset value (NAV) and market close performance may differ. A major reason for the difference is that timing discrepancies can exist between the NAV, which is calculated using the WM/Reuters closing spot rate, and market close, which is calculated using closing price (last trade).
As the result of a reorganization on April 6, 2018, the returns presented reflect performance of the Guggenheim predecessor fund. Invesco is not affiliated with Guggenheim.
Growth of $10,000
Data beginning 10 years prior to the ending date of 06/30/2019. Fund performance shown at NAV.
WM/Reuters Japanese Yen Closing Spot Rate* performance prior to 11/13/2008 reflects the noon buying rate as determined by the Federal Reserve Bank of New York. From 11/13/2008, forward, the performance reflects that of the WM/Reuters Japanese Yen Closing Spot Rate AND IS NOT INTENDED FOR ANY THIRD PARTY USE.
Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices. Performance data quoted represents past performance, which is not a guarantee of future results.
CurrencyShares are subject to risks similar to those of stocks and may not be suitable for all investors. The value of the Shares relates directly to the value of the Japanese Yen held by the Trust. Fluctuations in the price of the Japanese Yen could materially and adversely affect the value of the Shares.
The Japanese Yen/USD exchange rate, like foreign exchange rates in general, can be volatile and difficult to predict. This volatility could materially and adversely affect the performance of the Shares. Investment in foreign exchange related products is subject to many factors that contribute to or increase volatility, such as national debt levels and trade deficits, changes in domestic and foreign interest rates, and investors' expectations concerning interest rates, currency exchange rates and global or regional political, economic or financial events and situations.
If interest earned by the Trust does not exceed the Trust's expenses, the Trustee will withdraw Japanese Yen from the Trust to pay these excess expenses, which will reduce the amount of Japanese Yen represented by each Share on an ongoing basis and may result in adverse tax consequences for Shareholders.
The interest rate paid by the Depository, if any, may not be the best rate available. If the Sponsor determines that the interest rate is inadequate, then its sole recourse is to remove the Depository and terminate the Deposit Accounts.
If the Trust incurs expenses in USD, the Trust would be required to sell Japanese Yen to pay these expenses. The sale of the Trust's Japanese Yen to pay expenses in USD at a time of low Japanese Yen prices could adversely affect the value of the Shares.
Substantial sales of Japanese Yen by the official sector could adversely affect an investment in the Shares.
The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.
The Fund is not a mutual fund or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and is not subject to regulation thereunder.
Invesco Specialized Products, LLC, sponsor for the CurrencyShares Trusts, is a wholly owned subsidiary of Invesco Ltd.
The WM/Reuters closing spot rates are provided by The World Markets Company LBC (WM) in conjunction with Reuters and are used for certain currencies (the "rates") displayed herein. WM and Reuters shall not be liable for any errors in delays in providing or making available the WM/Reuters closing spot rates nor for any actions taken in reliance on the same. This information cannot be used, reproduced, distributed, redistributed, licensed in any way without a written agreement with WM.
WM/Reuters closing spot rate is the exchange rate of the U.S. dollar and the applicable foreign currency as determined by WM/Reuters as of 4:00 p.m. London Time.
4:15 PM EST
Current Indicative Basket Amount
Spot Price Bid
Spot Price Ask
Spot Price Mid
Delayed Indicative Value
NAV at market close
Basket Value at market close
Total Expense Ratio
100% Japanese Yen
83,593 30-Day Avg Trading Volume
52 Week High
52 Week Low
Current Interest Rate -0.10%
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