Invesco CurrencyShares Swedish Krona Trust (FXS) FWP Free writing prospectus

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Making Currency Relevant

| December 2010

Filed Pursuant To Rule 433

Registration Nos. 333-163068, 333-164343, 333-168005, 333-169959,

333-164342, 333-159961, 333-150687, 333-159964, and 333-168006

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2

Is Currency a Legitimate Asset Class?

Question is not whether currency is a legitimate asset class but, rather, if it’s relevant

for most investors?

Up

until

the

launch

of

CurrencyShares™

in

2005,

for

most

investors,

currency

wasn’t

an option.

Today, through ETFs, all investors have access to the most heavily traded and

utilized currencies as well as a number of emerging market currencies.

Investors now have a simple, cost-effective, and efficient means to buy, sell, sell-short

and implement option strategies on the world’s most heavily traded asset class.

Strategies once limited to institutions can now be employed by everyone.

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3

Making Currency Relevant

Intraday

Expense

Trading

NAV

Ratio

Options

Symbol

Symbol

(%)

Avail.

Currency ETFs

CurrencyShares

Australian Dollar

FXA

FXANV

0.40

Y

CurrencyShares

British Pound Sterling

FXB

FXBNV

0.40

Y

CurrencyShares

Canadian Dollar

FXC

FXCNV

0.40

Y

CurrencyShares

Euro Trust

FXE

FXENV

0.40

Y

CurrencyShares

Japanese Yen Trust

FXY

FXYIV

0.40

Y

CurrencyShares Mexican Peso

FXM

FXMNV

0.40

Y

CurrencyShares Russian Ruble

XRU

XRUIV

0.40

N

CurrencyShares Swedish Krona

FXS

FSXNV

0.40

Y

CurrencyShares Swiss Franc

FXF

FXFNV

0.40

Y

WisdomTree Dreyfus Emerging Currency Fund

CEW

CEWIV

0.55

Y

WisdomTree Dreyfus Brazilian Real Fund

BZF

BZFIV

0.45

Y

WisdomTree Dreyfus China Yuan Fund

CYB

CYBIV

0.45

Y

WisdomTree Dreyfus Euro Fund

EU

EUIV

0.35

Y

WisdomTree Dreyfus Indian Rupee Fund

ICN

ICNIV

0.45

Y

WisdomTree Dreyfus Japanese Yen Fund

JYF

JYFIV

0.35

Y

WisdomTree Dreyfus New Zealand Dollar Fund

BNZ

BNZIV

0.45

Y

WisdomTree Dreyfus South African Rand Fund

SZR

SZRIV

0.45

Y

PowerShares DB G10 Currency Harvest

DBV

FBV

0.81

Y

PowerShares DB US Dollar Index Bearish

UDN

UDNIV

0.80

Y

PowerShares DB US Dollar Index Bullish

UUP

UUPIV

0.80

Y

Leveraged Currency (200% Daily Returns)

ProShares Ultra Yen

YCL

YCLIV

0.95

Y

ProShares Ultra Euro

ULE

ULEIV

0.95

Y

Leveraged Inverse Currency (-200% Daily Returns)

ProShares UltraShort Yen

YCS

YCSIV

0.95

Y

ProShares UltraShort Euro

EUO

EUOIV

0.95

Y

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4

Currency The Ultimate Asset Class?

Fundamental investment tenants are premised on the practice of  creating well-

diversified portfolios in order to enhance returns and mitigate volatility.

Significant analysis is performed in order to determine the appropriate weightings

within the various classes of equities, fixed income, and alternative assets to achieve

a proper level of diversification and appropriate risk/reward parameters. 

For most investors, however, very little consideration is given to the cash element of a

portfolio.

Since

most

people

only

view

the

cash

component

of

a

portfolio

as

the

“ultimate

safe

haven,”

the scope of those holdings rarely ventures beyond U.S. dollars

or U.S. dollar

denominated fixed income instruments.

Currency

is

subject

a

number

of

risks

that

could

cause

a

decline

in

the

price

of

a

foreign currency including 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.

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5

Why We Can't Afford to Ignore Currency

Currency affects every aspect of our lives from the goods and services we purchase

to the returns we receive (currency has a significant impact on the returns of both

domestic and international companies).

S&P

500

companies

derive

nearly

half

of

their

sales

from

outside

the

U.S.

Currencies impact business in a numerous ways including:

Translation

Exposure

–

the

conversion

of

foreign-earned

revenues

to

its

home

currency

Transaction

Exposure

–

Impact

of

currency

on

prices

paid

or

received

for

goods

and

services

Economic

Exposure

–

the

effects

on

competitive

advantage

from

the

cost

of

goods

sold,

input costs, and balance sheet values

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6

Global Events Have Major Impact on Currency

CBO: Obamacare Would Cost Over $2 Trillion

Fed Fires $600 Billion Stimulus Shot

Dollar Depreciation and the Cost of Living

US Dollar Outlook for 2010 2011: Euro, Yen, Aussie and Loonie Rise To Record

Levels Against Greenback

Dollar to Become World's `Weakest Currency,' Drop to 75 Yen JPMorgan Says

Euro soars on Ireland bailout plan

Canadian Dollar Reaches Parity…Again

The Aussie Dollar Races To Parity

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7

Currency as an Asset Class

The premise of holding only U.S. Dollars is outdated as more and

goods and services are produced outside the U.S.

The massive volatility in the global currency markets has created periods where

investors have lost the “safe haven”

benefit of U.S. Dollars through the erosion of

purchasing power.

The volatility has also created a tremendous amount of opportunity from an

investment prospective. 

In conclusion, further diversification¹

within the cash-component of a well diversified

portfolio is worthy of consideration in order to insulate customers against a loss of

purchasing power as well as enable them to benefit from the potential returns

available in the currency market.

(1) Diversification neither assures a profit nor eliminates the risk of experiencing investment losses.

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8

Opportunities in Currency G-10 (5 Yr)

Performance displayed represents past performance, which is no guarantee of future results.

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9

Opportunities in Currency G-10 (1 Yr)

Performance displayed represents past performance, which is no guarantee of future results.

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10

Opportunities in Currency G-10 (6 Months)

Performance displayed represents past performance, which is no guarantee of future results.

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11

Currency Strategies

All investors can now take a page out of the institutional playbook and capitalize on

strategies such as:

Interest

Rate

Capture

–

Consists

of

identifying

currencies

with

higher

yields,

taking

a

long

position in that currency and selling a call against that position in order to hedge the risk.

Momentum

Trade

–

Identify

underperforming

currencies

via

moving

averages

or

other

measurement and taking long positions.

Mean

Reversion

Trade

–

Identifying

and

capitalizing

on

historical

imbalances

in

purchasing power parity or some other benchmark.

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12

Important Disclosure

This information must be accompanied by a current prospectus.

The issuer has filed a registration statement (including a prospectus) with the SEC

for

the

offering

to

which

this

communication

relates.

Before

you

invest,

you

should

read the prospectus in that registration statement and other documents the issuer

has filed with the SEC for more complete information about the issuer and this

offering.

You

may

get

these

documents

for

free

by

visiting

EDGAR

on

the

SEC

web

site at www.sec.gov

or by visiting the Trust's web site at

www.CurrencyShares.com. Alternatively, the issuer, any Authorized Participants

or

any

dealer

participating

in

the

offering

will

arrange

to

send

you

the

prospectus

if

you

request

it

by

calling

toll

free

877.RYDEX34.

Please

read

the

prospectus

carefully before investing.

Rydex

Specialized Products LLC, d/b/a

Rydex

SGI, is the sponsor of each of the

CurrencyShares

Trusts.

Rydex

Distributors,

LLC,

an

affiliate

of

Rydex

SGI

and

Rydex

Specialized Products LLC, is the distributor of the each of the CurrencyShares

Trusts.

Next

Investments

is

a

leading

developer

of

exchange

traded

funds

and

other

novel

financial instruments. Next Investments is providing product development support and

consulting to Rydex

SGI in connection with the registration of CurrencyShares.