Key stats
About INVESCO CURRENCYSHARES JAPANESE YEN TRUST
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Inception date
Feb 12, 2007
Structure
Grantor Trust
Distributes
Ordinary Income
Max ST capital gains rate
39.60%
Max LT capital gains rate
39.60%
Tax on distributions
Ordinary income
FXY is known for its exposure to the Japanese yen (both long and short). The fund offers a simple strategy it holds Japanese yen in a deposit account. Still, it is worth noting that: 1) there's no deposit insurance on its holdings, so it carries credit risk of its depository, JPMorgan, and 2) distributions and share sales are always taxed at ordinary-income rate (as opposed to capital gains), regardless of holding period. In addition, FXY doesn't deliver the overnight lending rate like its benchmark, but with interest rates in Japan near 0% (or even lower), that's not much of a drawback. In fact, a 0% yield is a boon for those looking to short shares in the fund.
Classification
What's in the fund
Exposure type
Cash
Bonds, Cash & Other100.00%
Cash100.00%
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