FXE Fund Description

The CurrencyShares Euro Trust tracks the changes in value of the euro relative to the US dollar.

FXE ETF.com Insight

FXE is an investor favorite among those who want to access the euro. For 40 bps, the fund holds physical euros in a deposit account. The simple strategy has attracted big assets, butFXE is an investor favorite among those who want to access the euro it’s not without its kinks. For one, the fund’s deposits are uninsured, leaving investors exposed to the default risk of the fund’s depository, JPMorgan. Secondly, all distributions and share sales of FXE are taxed as ordinary income, rather than the friendlier qualified dividend and long-term capital gains rates. Still, FXE is among the most liquid currency ETFs. Overall, FXE does an excellent job of providing exposure to the euro, and over the past year, it’s been a solid option for investors betting on the euro rebound. (Insight updated 06/24/2013)

1 Year

Performance [as of 09/16/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

FXE
-3.31% -4.63% -6.07% -3.22% -2.40% -2.76% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

FXE Top 10 Holdings

FXE Summary Data

Guggenheim

A company that produces and manages ETFs.

12/09/05

The first date of a fund's operations, as documented by the issuer.

Grantor Trust

The organizational structure of the fund or ETN.

0.40%

The net total annual fee a fund holder pays to the issuer.

$178.63 M

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$42.75 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.01%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.

FXE Portfolio Data

0.00%

The fund’s trailing twelve month yield, displayed as a percentage.

10/01/14

The upcoming date on which the fund trades without its upcoming dividend

In Specie

Discloses the strategy behind how the fund gains exposure to the underlying currency (In Specie or Derivative).

Related ETFs to FXE

ERO, GBB, FXB

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

FXE ETF.com Efficiency Insight

FXE’s large asset base is a clear sign the fund is an investor favorite and likely to stay around for some time. Still, investors should be aware that the fund’s physical deposits of euros are uninsured, leaving shareholders directly exposed to the default risk of JPMorgan. Tax efficiency is also a concern, as distributions and share sales of FXE are always taxed as ordinary income. (Insight updated 06/24/2013)

Total Return - 06/24/2014

Performance [as of 06/24/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

FXE
-0.22% -1.78% -1.29% 3.25% -1.65% -0.71% --

FXE (NAV)
-0.29% -1.45% -1.51% 3.43% -1.63% -0.85% --

Euro Spot
-- -- -- -- -- -- --

IU Euro Index
-0.12% -1.32% -1.26% 4.08% -0.85% -0.04% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

FXE Portfolio Management

0.40%

The net total annual fee a fund holder pays to the issuer.

FXE Tax exposures

39.60% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

--

The average annualized short–term capital gains distributions from the fund over a 3 year period, displayed as a percentage.

--

The average annualized long–term capital gains distributions from the fund over a 3 year period, displayed as a percentage.

0.08%

The average annualized ordinary income distributions from the fund over a 3 year period, displayed as a percentage.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

FXE Fund Structure

Grantor Trust

The organizational structure of the fund or ETN.

In Specie

Discloses the strategy behind how the fund gains exposure to the underlying currency (In Specie or Derivative).

No

An indicator of whether the fund uses over-the–counter derivatives such as swaps or forwards to achieve its objectives.

N/A

The institution responsible for providing the return of the stated index or holding the deposits of physical currrency, whose credit is the sole backing of the product.

Low

The risk of default by the ETN counterparty.

Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

None

The frequency of an issuer's disclosure of all fund holdings.

FXE ETF.com Tradability Insight

FXE is extremely liquid. The fund trades tens of millions of dollars a day at ultra-tight bid/ask spreads. Its perfect block liquidity score is no surprise—with multiple creation units trading per day, liquidity providers are more than willing to provide tight markets in the fund regardless of size. Overall, it should be easy to trade FXE at any size. (Insight updated 06/24/2013)

Average Spread

Premium/Discount

Volume

FXE ETF.com/ Block LiquidityAs of 09/17/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of FXE. FXE is rated a 5 out of 5.

FXE Tradability

327,443

It is the daily number of shares traded, averaged over the past 45 trading days.

$42.75 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

276,250

Median number of shares traded over the past 45 trading days.

$36.05 M

Median dollar value of shares traded over the past 45 trading days.

0.01%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

$0.01

The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars.

0.01%

The middle value in the ranked set of all premium/discount values over a maximum 12-month period.

1.20% / -0.55%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

100.00%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

50,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

5.53

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.01%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

195,939

The total number of net outstanding options contracts for an ETF.

$127.59

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

FXE ETF.com Fit Insight

FXE's shares are backed by physical euros in a deposit account, so it’s no surprise that the fund does an excellent job of tracking the euro/US dollar exchange rate. The one drawback to FXE is that it doesn’t deliver the overnight lending rate like our benchmark does. Still, the fund’s simple and straightforward strategy is as good as it gets with regard to Fit. (Insight updated 06/24/2013)

FXE Top 10 Holdings

FXE Top 5 Collateral Investments

FXE Performance Statistics

1.00

The degree to which the fund and its segment benchmark move up and down in unison.

1.00

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

1.00

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

1.00

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

FXE Currency Exposure

FXE Segment Benchmark
100.00% 100.00%

FXE Portfolio Tilts Comparison

FXE Segment Benchmark
0.0 0.0

Price sensitivity in percentage to a 100 basis point parallel shift (up or down) in interest rates.

-- --

The average remaining days until maturity for all currency contracts in the portfolio.

0.15% 0.00%

The annualized current overnight yield of the portfolio.