Invesco CurrencyShares Canadian Dollar Trust (FXC) 10-Q 8 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2019shares
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Trading Symbol	FXC
Entity Registrant Name	Invesco CURRENCYSHARES CANADIAN DOLLAR TRUST
Entity Central Index Key	0001353612
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding	1,550,000
Entity File Number	001-32910
Entity Tax Identification Number	06-6551776
Entity Address, Address Line One	3500 Lacey Road
Entity Address, Address Line Two	Suite 700
Entity Address, City or Town	Downers Grove
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60515
City Area Code	800
Local Phone Number	983-0903
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Units of Beneficial Interest
Security Exchange Name	NYSEArca
Entity Incorporation, State or Country Code	NY
Document Quarterly Report	true
Document Transition Report	false

Statements of Financial Conditi

Statements of Financial Condition (Unaudited) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Assets
Canadian Dollar deposits, interest bearing	$ 115,484,056	$ 148,062,497
Canadian Dollar deposits, non-interest bearing		563
Subscriptions receivable	0	14,451,915
Receivable from accrued interest	95,834	118,933
Total Assets	115,579,890	162,633,908
Liabilities
Canadian Dollar deposits, non-interest bearing, overdrawn	1,297
Accrued Sponsor’s fee	38,880	50,556
Total Liabilities	40,177	50,556
Commitments and Contingent Liabilities (note 8)
Redeemable Capital Shares and Shareholders’ Equity
Redeemable Capital Shares, at redemption value, no par value, 28,500,000 authorized – 1,550,000 and 2,250,000 issued and outstanding, respectively	115,539,713	162,583,352
Shareholders’ Equity:
Retained Earnings	0	0
Total Liabilities, Redeemable Capital Shares and Shareholders’ Equity	$ 115,579,890	$ 162,633,908

Statements of Financial Condi_2

Statements of Financial Condition (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Redeemable Capital Shares, no par value	$ 0	$ 0
Redeemable Capital Shares, shares authorized	28,500,000	28,500,000
Redeemable Capital Shares, shares issued	1,550,000	2,250,000
Redeemable Capital Shares, shares outstanding	1,550,000	2,250,000

Statements of Comprehensive Inc

Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income
Interest Income	$ 352,263	$ 374,271	$ 1,141,589	$ 946,500
Total Income	352,263	374,271	1,141,589	946,500
Expenses
Sponsor’s fee	(123,165)	(161,409)	(388,153)	(494,340)
Total Expenses	(123,165)	(161,409)	(388,153)	(494,340)
Net Comprehensive Income (Loss)	$ 229,098	$ 212,862	$ 753,436	$ 452,160
Basic and Diluted Earnings per Share	$ 0.14	$ 0.10	$ 0.43	$ 0.21
Weighted-average Shares Outstanding	1,627,717	2,117,935	1,736,264	2,154,212

Statements of Changes in Shareh

Statements of Changes in Shareholders' Equity and Redeemable Capital Shares (Unaudited) - USD ($)	Total	Retained Earnings [Member]	Redeemable Capital Shares [Member]
Balance, Shares at Dec. 31, 2017			2,150,000
Temporary Equity, Balance at Dec. 31, 2017			$ 169,271,222
Purchases of Shares			$ 34,476,002
Purchases of Shares, Shares			450,000
Redemption of Shares			$ (38,304,383)
Redemption of Shares, Shares			(500,000)
Net Increase (Decrease) due to Share Transactions			$ (3,828,381)
Net Increase (Decrease) due to Share Transactions, shares			(50,000)
Distributions	$ (381,372)	$ (381,372)
Net Comprehensive Income (Loss)	452,160	452,160
Adjustment of Redeemable Capital Shares to Redemption Value related to Retained Earnings	(70,788)	(70,788)	$ 70,788
Adjustment of Redeemable Capital Shares to Redemption Value			$ (5,178,792)
Balance, Shares at Sep. 30, 2018			2,100,000
Temporary Equity, Balance at Sep. 30, 2018			$ 160,334,837
Balance, Shares at Jun. 30, 2018			2,200,000
Temporary Equity, Balance at Jun. 30, 2018			$ 165,042,657
Purchases of Shares			$ 3,601,678
Purchases of Shares, Shares			50,000
Redemption of Shares			$ (11,290,577)
Redemption of Shares, Shares			(150,000)
Net Increase (Decrease) due to Share Transactions			$ (7,688,899)
Net Increase (Decrease) due to Share Transactions, shares			(100,000)
Distributions	(206,624)	(206,624)
Net Comprehensive Income (Loss)	212,862	212,862
Adjustment of Redeemable Capital Shares to Redemption Value related to Retained Earnings	$ (6,238)	(6,238)	$ 6,238
Adjustment of Redeemable Capital Shares to Redemption Value			$ 2,974,841
Balance, Shares at Sep. 30, 2018			2,100,000
Temporary Equity, Balance at Sep. 30, 2018			$ 160,334,837
Balance, Shares at Dec. 31, 2018	2,250,000		2,250,000
Temporary Equity, Balance at Dec. 31, 2018	$ 162,583,352		$ 162,583,352
Purchases of Shares			$ 51,850,144
Purchases of Shares, Shares			700,000
Redemption of Shares			$ (103,973,357)
Redemption of Shares, Shares			(1,400,000)
Net Increase (Decrease) due to Share Transactions			$ (52,123,213)
Net Increase (Decrease) due to Share Transactions, shares			(700,000)
Distributions	(753,725)	(753,725)
Net Comprehensive Income (Loss)	753,436	753,436
Adjustment of Redeemable Capital Shares to Redemption Value related to Retained Earnings	$ 289	289	$ (289)
Adjustment of Redeemable Capital Shares to Redemption Value			$ 5,079,863
Balance, Shares at Sep. 30, 2019	1,550,000		1,550,000
Temporary Equity, Balance at Sep. 30, 2019	$ 115,539,713		$ 115,539,713
Balance, Shares at Jun. 30, 2019			1,750,000
Temporary Equity, Balance at Jun. 30, 2019			$ 132,186,489
Purchases of Shares			$ 14,888,978
Purchases of Shares, Shares			200,000
Redemption of Shares			$ (29,836,573)
Redemption of Shares, Shares			(400,000)
Net Increase (Decrease) due to Share Transactions			$ (14,947,595)
Net Increase (Decrease) due to Share Transactions, shares			(200,000)
Distributions	(250,082)	(250,082)
Net Comprehensive Income (Loss)	229,098	229,098
Adjustment of Redeemable Capital Shares to Redemption Value related to Retained Earnings	$ 20,984	$ 20,984	$ (20,984)
Adjustment of Redeemable Capital Shares to Redemption Value			$ (1,678,197)
Balance, Shares at Sep. 30, 2019	1,550,000		1,550,000
Temporary Equity, Balance at Sep. 30, 2019	$ 115,539,713		$ 115,539,713

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited)	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Cash flows from operating activities
Net Comprehensive Income (Loss)	$ 753,436	$ 452,160
Adjustments to reconcile net comprehensive income (loss) to net cash provided by (used in) operating activities:
Receivable from accrued interest	23,099	(68,756)
Accrued Sponsor’s fee	(11,676)	(6,442)
Net cash provided by (used in) operating activities	764,859	376,962
Cash flows from financing activities
Distributions paid to shareholders	(753,725)	(381,372)
Proceeds from purchases of redeemable Shares	66,302,059	34,476,002
Redemptions of redeemable Shares	(103,973,357)	(38,304,383)
Net cash provided by (used in) financing activities	(38,425,023)	(4,209,753)
Effect of exchange rate on cash	5,079,863	(5,178,792)
Net change in cash	(32,580,301)	(9,011,583)
Cash at beginning of period	148,063,060	169,274,654
Cash at end of period	115,482,759	160,263,071
Supplemental disclosure of cash flow information
Cash paid for interest	$ 0	$ 0

Background

Background	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Background	Note 1 - Background On September 28, 2017, Guggenheim Capital, LLC (“Guggenheim”) and Invesco Ltd. entered into a Transaction Agreement (the “Transaction Agreement”), pursuant to which Guggenheim agreed to transfer all of the membership interests of Guggenheim Specialized Products, LLC (the “Sponsor”) to Invesco Capital Management LLC (“Invesco Capital Management”). The Transaction Agreement was consummated on April 6, 2018 (the “Closing”) and immediately following the Closing, Invesco Capital Management changed the name of the Sponsor to Invesco Specialized Products, LLC. On January 9, 2019, the Sponsor changed the Trust’s fiscal year from the period beginning on November 1 and ending on October 31 to the period beginning on January 1 and ending on December 31. Unless otherwise noted, all references to “years” in this report refer to the twelve-month fiscal year, which prior to November 1, 2018 ended on October 31 and beginning after December 31, 2018 ends on December 31 of each year.

Organization

Organization	9 Months Ended
	Sep. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	Note 2 - Organization The Invesco CurrencyShares ® The investment objective of the Trust is for the Trust’s shares (the “Shares”) to reflect the price in U.S. Dollars (“USD”) of the Canadian Dollar plus accrued interest, if any, less the Trust’s expenses and liabilities. The Shares are intended to provide investors with a simple, cost-effective means of gaining investment benefits similar to those of holding Canadian Dollars. The Trust’s assets primarily consist of Canadian Dollars on demand deposit in two deposit accounts maintained by the Depository: a primary deposit account which may earn interest and a secondary deposit account which does not earn interest. The secondary deposit account is used to account for any interest that may be received and paid out on creations and redemptions of blocks of 50,000 Shares (“Baskets”). The secondary account is also used to account for interest earned, if any, on the primary deposit account, pay Trust expenses and distribute any excess interest to holders of Shares (“Shareholders”) on a monthly basis. This Quarterly Report (the “Report”) covers the three and nine months ended September 30, 2019 and 2018 . The accompanying unaudited financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions for Form 10-Q and the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). In the opinion of management, all material adjustments, consisting only of normal recurring adjustments, considered necessary for a fair statement of the interim period financial statements have been made. Interim period results are not necessarily indicative of results for a full-year period. These financial statements and the notes thereto should be read in conjunction with the Trust’s financial statements included in the Form 10-K transition report as filed on March 11, 2019.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 3 – Summary of Significant Accounting Policies A. The financial statements of the Trust have been prepared using U.S. GAAP. B. Accounting Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates by a significant amount. In addition, the Trust monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are issued. C. For Net Asset Value (“NAV”) calculation purposes, Canadian Dollar deposits (cash) are translated at the Closing Spot Rate, which is the Canadian Dollar/USD exchange rate as determined and published by The WM Company at 4:00 PM (London time / London fixing) on each day that NYSE Arca, Inc. (“NYSE Arca”) is open for regular trading. The Trust maintains its books and records in Canadian Dollars. For financial statement reporting purposes, the U.S. Dollar is the reporting currency. As a result, the financial records of the Trust are translated from Canadian Dollars to USD. The Closing Spot Rate on the last day of the period is used for translation in the statements of financial condition. The average Closing Spot Rate for the period is used for translation in the statements of comprehensive income and the statements of cash flows. The redeemable capital Shares are adjusted to redemption value and these adjustments are recorded against retained earnings. D. Interest Income Interest on the primary deposit account, if any, accrues daily as earned and is received or paid on a monthly basis. Any interest below zero for the period is reflected as interest expense on currency deposits. The Depository may change the rate at which interest accrues, including reducing the interest rate to zero or below zero, based upon changes in market conditions or based on the Depository’s liquidity needs. E. Distributions To the extent that the interest earned by the Trust, if any, exceeds the sum of the Sponsor’s fee for the prior month plus other Trust expenses, if any, the Trust will distribute, as a dividend (herein referred to as dividends or distributions), the excess interest earned in Canadian Dollars effective on the first business day of the subsequent month. The Trustee (as defined below) will direct that the excess Canadian Dollars be converted into USD at the prevailing market rate and the Trustee will distribute the USD as promptly as practicable to Shareholders on a pro-rata basis (in accordance with the number of Shares that they own). The table below shows distributions per Share and in total for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Distributions per Share $ 0.15 $ 0.10 $ 0.43 $ 0.18 Distributions paid $ 250,082 $ 206,624 $ 753,725 $ 381,372 An income distribution for the month ended September 30, 2019 was paid on October 8, 2019 to holders of record as of October 2, 2019 at a rate of $0.03585 per Share and a total distribution of $55,568. F. Routine Operational, Administrative and Other Ordinary Expenses The Sponsor is responsible for all routine operational, administrative and other ordinary expenses of the Trust, including, but not limited to, the Trustee’s monthly fee, NYSE Arca listing fees, SEC registration fees, typical maintenance and transaction fees of the Depository, printing and mailing costs, audit fees and expenses, up to $100,000 per year in legal fees and expenses, and applicable license fees. The Trust does not reimburse the Sponsor for the routine operational, administrative and other ordinary expenses of the Trust. Accordingly, such expenses are not reflected in the Statements of Comprehensive Income of the Trust. G. Non-Recurring Fees and Expenses In certain exceptional cases the Trust will pay for some expenses in addition to the Sponsor’s fee. These exceptions include expenses not assumed by the Sponsor (i.e., expenses other than those identified in the preceding paragraph), expenses resulting from negative interest rates, taxes and governmental charges, expenses and costs of any extraordinary services performed by the Trustee or the Sponsor on behalf of the Trust or action taken by the Trustee or the Sponsor to protect the Trust or the interests of Shareholders, indemnification of the Sponsor under the Depositary Trust Agreement, audit fees and legal expenses in excess of $100,000 per year. The only expense of the Trust during the three and nine months ended September 30, 2019 was the Sponsor’s fee H. Federal Income Taxes The Trust is treated as a “grantor trust” for federal income tax purposes and, therefore, no provision for federal income taxes is required. Interest, gains and losses are passed through to the Shareholders. Shareholders generally will be treated, for U.S. federal income tax purposes, as if they directly owned a pro-rata share of the assets held in the Trust. Shareholders also will be treated as if they directly received their respective pro-rata portion of the Trust’s income, if any, and as if they directly incurred their respective pro-rata portion of the Trust’s expenses. The acquisition of Shares by a U.S. Shareholder as part of a creation of a Basket will not be a taxable event to the Shareholder. The Sponsor’s fee accrues daily and is payable monthly. For U.S. federal income tax purposes, an accrual-basis U.S. Shareholder generally will be required to take into account as an expense its allocable portion of the USD-equivalent of the amount of the Sponsor’s fee that is accrued on each day, with such USD-equivalent being determined by the currency exchange rate that is in effect on the respective day. To the extent that the currency exchange rate on the date of payment of the accrued amount of the Sponsor’s fee differs from the currency exchange rate in effect on the day of accrual, the U.S. Shareholder will recognize a currency gain or loss for U.S. federal income tax purposes. The Trust does not expect to generate taxable income except for interest income (if any) and gain (if any) upon the sale of Canadian Dollars. A non-U.S. Shareholder generally will not be subject to U.S. federal income tax with respect to gain recognized upon the sale or other disposition of Shares, or upon the sale of Canadian Dollars by the Trust, unless: (1) the non-U.S. Shareholder is an individual and is present in the United States for 183 days or more during the taxable year of the sale or other disposition, and the gain is treated as being from United States sources; or (2) the gain is effectively connected with the conduct by the non-U.S. Shareholder of a trade or business in the United States. A non-U.S. Shareholder’s portion of any interest income earned by the Trust generally will not be subject to U.S. federal income tax unless the Shares owned by such non-U.S. Shareholder are effectively connected with the conduct by the non-U.S. Shareholder of a trade or business in the United States.

Canadian Dollar Deposits

Canadian Dollar Deposits	9 Months Ended
	Sep. 30, 2019
Cash And Cash Equivalents [Abstract]
Canadian Dollar Deposits	Note 4 - Canadian Dollar Deposits Canadian Dollar principal deposits are held in a Canadian Dollar-denominated, interest-bearing demand account. The interest rate in effect as of September 30, 2019 was an annual nominal rate of 0.39%. For the nine months ended September 30, 2019, there were Canadian Dollar principal deposits of 69,052,015 and Canadian Dollar principal redemptions of 138,104,030, resulting in an ending Canadian Dollar principal balance of 152,900,891. This equates to 115,484,056 USD. For the two months ended December 31, 2018, there were Canadian Dollar principal deposits of 39,458,295 and Canadian Dollar principal redemptions of 24,661,434, resulting in an ending Canadian Dollar principal balance of 221,952,906. This equates to 162,507,619 USD (which includes USD subscriptions receivable). Net interest, if any, associated with creation and redemption activity is held in a Canadian Dollar-denominated non-interest bearing account, and any balance is distributed in full as part of the monthly income distributions, if any.

Concentration Risk

Concentration Risk	9 Months Ended
	Sep. 30, 2019
Risks And Uncertainties [Abstract]
Concentration Risk	Note 5 - Concentration Risk All of the Trust’s assets are Canadian Dollars, which creates a concentration risk associated with fluctuations in the price of the Canadian Dollar. Accordingly, a decline in the Canadian Dollar to USD exchange rate will have an adverse effect on the value of the Shares. Factors that may have the effect of causing a decline in the price of the Canadian Dollar include national debt levels and trade deficits, domestic and foreign inflation rates, domestic and foreign interest rates, investment and trading activities of institutions and global or regional political, economic or financial events and situations. Substantial sales of Canadian Dollars by the official sector (central banks, other governmental agencies and related institutions that buy, sell and hold Canadian Dollars as part of their reserve assets) could adversely affect an investment in the Shares. All of the Trust’s Canadian Dollars are held by the Depository. Accordingly, a risk associated with the concentration of the Trust’s assets in accounts held by a single financial institution exists and increases the potential for loss by the Trust and the Trust’s beneficiaries in the event that the Depository becomes insolvent.

Service Providers and Related P

Service Providers and Related Party Agreements	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Service Providers and Related Party Agreements	Note 6 - Service Providers and Related Party Agreements The Trustee The Bank of New York Mellon (the “Trustee”), a banking corporation with trust powers organized under the laws of the State of New York, serves as the Trustee. The Trustee is responsible for the day-to-day administration of the Trust, including keeping the Trust’s operational records. The Sponsor The Sponsor of the Trust generally oversees the performance of the Trustee and the Trust’s principal service providers. The Sponsor is Invesco Specialized Products, LLC, a Delaware limited liability company and a related party of the Trust. The Trust pays the Sponsor 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.

Share Purchases and Redemptions

Share Purchases and Redemptions	9 Months Ended
	Sep. 30, 2019
Federal Home Loan Banks [Abstract]
Share Purchases and Redemptions	Note 7 - Share Purchases and Redemptions Shares are issued and redeemed continuously in Baskets in exchange for Canadian Dollars. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. Only Authorized Participants (as defined below) may place orders to create and redeem Baskets. An Authorized Participant is a Depository Trust Company (“DTC”) participant that is a registered broker-dealer or other institution eligible to settle securities transactions through the book-entry facilities of the DTC and which has entered into a contractual arrangement with the Trust and the Sponsor governing, among other matters, the creation and redemption process. Authorized Participants may redeem their Shares at any time in Baskets. Due to expected continuing creations and redemptions of Baskets and the two-day period for settlement of each creation or redemption, the Trust reflects Shares created as a receivable on the trade date. Shares redeemed are reflected as a liability on the trade date. Outstanding Shares are reflected at redemption value, which is the NAV per Share at the period end date. Adjustments to redeemable capital Shares at redemption value are recorded directly to redeemable capital shares and retained earnings. The Trustee calculates the Trust’s NAV each business day. To calculate the NAV, the Trustee subtracts the Sponsor’s accrued fee through the previous day from the Canadian Dollars held by the Trust (including all unpaid interest, if any, accrued through the preceding day) and calculates the value of the Canadian Dollars in USD based upon the Closing Spot Rate. If, on a particular evaluation day, the Closing Spot Rate has not been determined and announced by 6:00 PM (London time), then the most recent Closing Spot Rate will be used to determine the NAV of the Trust unless the Trustee, in consultation with the Sponsor, determines that such price is inappropriate to use as the basis for the valuation. If the Trustee and the Sponsor determine that the most recent Closing Spot Rate is not an appropriate basis for valuation of the Trust’s Canadian Dollars, they will determine an alternative basis for the valuation. The Trustee also determines the NAV per Share, which equals the NAV of the Trust, divided by the number of outstanding Shares. Shares deliverable under a purchase order are considered outstanding for purposes of determining NAV per Share; Shares deliverable under a redemption order are not considered outstanding for this purpose.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8 - Commitments and Contingencies The Trust’s organizational documents provide for the Trust to indemnify the Sponsor and any affiliate of the Sponsor that provides services to the Trust to the maximum extent permitted by applicable law, subject to certain exceptions for disqualifying conduct by the Sponsor or such an affiliate. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred. Further, the Trust has not had prior claims or losses pursuant to these contracts. Accordingly, the Sponsor expects the risk of loss to be remote.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	A. The financial statements of the Trust have been prepared using U.S. GAAP.
Accounting Estimates	B. Accounting Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates by a significant amount. In addition, the Trust monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are issued.
Foreign Currency Translation	C. For Net Asset Value (“NAV”) calculation purposes, Canadian Dollar deposits (cash) are translated at the Closing Spot Rate, which is the Canadian Dollar/USD exchange rate as determined and published by The WM Company at 4:00 PM (London time / London fixing) on each day that NYSE Arca, Inc. (“NYSE Arca”) is open for regular trading. The Trust maintains its books and records in Canadian Dollars. For financial statement reporting purposes, the U.S. Dollar is the reporting currency. As a result, the financial records of the Trust are translated from Canadian Dollars to USD. The Closing Spot Rate on the last day of the period is used for translation in the statements of financial condition. The average Closing Spot Rate for the period is used for translation in the statements of comprehensive income and the statements of cash flows. The redeemable capital Shares are adjusted to redemption value and these adjustments are recorded against retained earnings.
Interest Income	D. Interest Income Interest on the primary deposit account, if any, accrues daily as earned and is received or paid on a monthly basis. Any interest below zero for the period is reflected as interest expense on currency deposits. The Depository may change the rate at which interest accrues, including reducing the interest rate to zero or below zero, based upon changes in market conditions or based on the Depository’s liquidity needs.
Distributions	E. Distributions To the extent that the interest earned by the Trust, if any, exceeds the sum of the Sponsor’s fee for the prior month plus other Trust expenses, if any, the Trust will distribute, as a dividend (herein referred to as dividends or distributions), the excess interest earned in Canadian Dollars effective on the first business day of the subsequent month. The Trustee (as defined below) will direct that the excess Canadian Dollars be converted into USD at the prevailing market rate and the Trustee will distribute the USD as promptly as practicable to Shareholders on a pro-rata basis (in accordance with the number of Shares that they own). The table below shows distributions per Share and in total for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Distributions per Share $ 0.15 $ 0.10 $ 0.43 $ 0.18 Distributions paid $ 250,082 $ 206,624 $ 753,725 $ 381,372 An income distribution for the month ended September 30, 2019 was paid on October 8, 2019 to holders of record as of October 2, 2019 at a rate of $0.03585 per Share and a total distribution of $55,568.
Routine Operational Administrative and Other Ordinary Expenses Policy	F. Routine Operational, Administrative and Other Ordinary Expenses The Sponsor is responsible for all routine operational, administrative and other ordinary expenses of the Trust, including, but not limited to, the Trustee’s monthly fee, NYSE Arca listing fees, SEC registration fees, typical maintenance and transaction fees of the Depository, printing and mailing costs, audit fees and expenses, up to $100,000 per year in legal fees and expenses, and applicable license fees. The Trust does not reimburse the Sponsor for the routine operational, administrative and other ordinary expenses of the Trust. Accordingly, such expenses are not reflected in the Statements of Comprehensive Income of the Trust.
Non Recurring Fees and Expenses	G. Non-Recurring Fees and Expenses In certain exceptional cases the Trust will pay for some expenses in addition to the Sponsor’s fee. These exceptions include expenses not assumed by the Sponsor (i.e., expenses other than those identified in the preceding paragraph), expenses resulting from negative interest rates, taxes and governmental charges, expenses and costs of any extraordinary services performed by the Trustee or the Sponsor on behalf of the Trust or action taken by the Trustee or the Sponsor to protect the Trust or the interests of Shareholders, indemnification of the Sponsor under the Depositary Trust Agreement, audit fees and legal expenses in excess of $100,000 per year. The only expense of the Trust during the three and nine months ended September 30, 2019 was the Sponsor’s fee
Federal Income Taxes	H. Federal Income Taxes The Trust is treated as a “grantor trust” for federal income tax purposes and, therefore, no provision for federal income taxes is required. Interest, gains and losses are passed through to the Shareholders. Shareholders generally will be treated, for U.S. federal income tax purposes, as if they directly owned a pro-rata share of the assets held in the Trust. Shareholders also will be treated as if they directly received their respective pro-rata portion of the Trust’s income, if any, and as if they directly incurred their respective pro-rata portion of the Trust’s expenses. The acquisition of Shares by a U.S. Shareholder as part of a creation of a Basket will not be a taxable event to the Shareholder. The Sponsor’s fee accrues daily and is payable monthly. For U.S. federal income tax purposes, an accrual-basis U.S. Shareholder generally will be required to take into account as an expense its allocable portion of the USD-equivalent of the amount of the Sponsor’s fee that is accrued on each day, with such USD-equivalent being determined by the currency exchange rate that is in effect on the respective day. To the extent that the currency exchange rate on the date of payment of the accrued amount of the Sponsor’s fee differs from the currency exchange rate in effect on the day of accrual, the U.S. Shareholder will recognize a currency gain or loss for U.S. federal income tax purposes. The Trust does not expect to generate taxable income except for interest income (if any) and gain (if any) upon the sale of Canadian Dollars. A non-U.S. Shareholder generally will not be subject to U.S. federal income tax with respect to gain recognized upon the sale or other disposition of Shares, or upon the sale of Canadian Dollars by the Trust, unless: (1) the non-U.S. Shareholder is an individual and is present in the United States for 183 days or more during the taxable year of the sale or other disposition, and the gain is treated as being from United States sources; or (2) the gain is effectively connected with the conduct by the non-U.S. Shareholder of a trade or business in the United States. A non-U.S. Shareholder’s portion of any interest income earned by the Trust generally will not be subject to U.S. federal income tax unless the Shares owned by such non-U.S. Shareholder are effectively connected with the conduct by the non-U.S. Shareholder of a trade or business in the United States.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Schedule of Dividends Distributions Per Share	The table below shows distributions per Share and in total for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Distributions per Share $ 0.15 $ 0.10 $ 0.43 $ 0.18 Distributions paid $ 250,082 $ 206,624 $ 753,725 $ 381,372

Organization - Additional Infor

Organization - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019CAD ($)Accountshares
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization formation date	Jun. 8, 2006
Initial deposits by sponsor, primary deposit account | $	$ 100
Number of deposits accounts in which trust's assets primarily consist of Canadian Dollars | Account	2
Redemptions Capital Shares, Number of shares in each Block | shares	50,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Summary of Distributions Per Share and in Total (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Accounting Policies [Abstract]
Distributions per Share	$ 0.15	$ 0.10	$ 0.43	$ 0.18
Distributions paid	$ 250,082	$ 206,624	$ 753,725	$ 381,372

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Accounting Policies [Line Items]
Dividend payable, amount per share	$ 0.03585	$ 0.03585		$ 0.03585
Dividend payable, date to be paid	Oct. 8, 2019
Dividends Payable, date of record	Oct. 2, 2019
Distributions Paid	$ 55,568	$ 250,082	$ 206,624	$ 753,725	$ 381,372
Provision for federal income taxes				$ 0
Minimum days required to stay for tax liability				183 days
Sponsor | Professional Fees Liability
Accounting Policies [Line Items]
Legal fees and expenses assumed				$ 100,000
Excess amount of assumed audit fees and legal expenses				$ 100,000

Canadian Dollar Deposits - Addi

Canadian Dollar Deposits - Additional Information (Detail)	2 Months Ended	9 Months Ended
	Dec. 31, 2018CAD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2019CAD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019CAD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2018CAD ($)
Cash And Cash Equivalents [Abstract]
Principal deposits	$ 39,458,295	$ 66,302,059	$ 69,052,015	$ 34,476,002
Principal redemptions	$ 24,661,434	103,973,357	$ 138,104,030	$ 38,304,383
Deposits, interest bearing		$ 115,484,056			$ 152,900,891	$ 162,507,619	$ 221,952,906
Annual nominal rate		0.39%			0.39%

Service Providers and Related_2

Service Providers and Related Party Agreements - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019
Sponsor | Accrued Professional Fees
Related Party Transaction [Line Items]
Sponsor's fee accrues daily and paid monthly, annual nominal Rate	0.40%

Share Purchase and Redemptions

Share Purchase and Redemptions - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019
Temporary Equity Disclosure [Abstract]
Share Purchases and Redemptions, Settlement of each creation or redemption period	2 days