FWP 1 dfwp.htm FREE WRITING PROSPECTUS

CONFIDENTIAL | PROPERTY OF NEXT INV LLC | PATENT # 7813987 FOR FINANCIAL PROFESSIONAL USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC. 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

CONFIDENTIAL | PROPERTY OF NEXT INV LLC | PATENT # 7813987 FOR FINANCIAL PROFESSIONAL USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC. 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.

CONFIDENTIAL | PROPERTY OF NEXT INV LLC | PATENT # 7813987 FOR FINANCIAL PROFESSIONAL USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC. 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

CONFIDENTIAL | PROPERTY OF NEXT INV LLC | PATENT # 7813987 FOR FINANCIAL PROFESSIONAL USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC. 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.

CONFIDENTIAL | PROPERTY OF NEXT INV LLC | PATENT # 7813987 FOR FINANCIAL PROFESSIONAL USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC. 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

CONFIDENTIAL | PROPERTY OF NEXT INV LLC | PATENT # 7813987 FOR FINANCIAL PROFESSIONAL USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC. 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

CONFIDENTIAL | PROPERTY OF NEXT INV LLC | PATENT # 7813987 FOR FINANCIAL PROFESSIONAL USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC. 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.

CONFIDENTIAL | PROPERTY OF NEXT INV LLC | PATENT # 7813987 FOR FINANCIAL PROFESSIONAL USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC. 8 Opportunities in Currency G-10 (5 Yr) Performance displayed represents past performance, which is no guarantee of future results.

CONFIDENTIAL | PROPERTY OF NEXT INV LLC | PATENT # 7813987 FOR FINANCIAL PROFESSIONAL USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC. 9 Opportunities in Currency G-10 (1 Yr) Performance displayed represents past performance, which is no guarantee of future results.

CONFIDENTIAL | PROPERTY OF NEXT INV LLC | PATENT # 7813987 FOR FINANCIAL PROFESSIONAL USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC. 10 Opportunities in Currency G-10 (6 Months) Performance displayed represents past performance, which is no guarantee of future results.

CONFIDENTIAL | PROPERTY OF NEXT INV LLC | PATENT # 7813987 FOR FINANCIAL PROFESSIONAL USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC. 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.

CONFIDENTIAL | PROPERTY OF NEXT INV LLC | PATENT # 7813987 FOR FINANCIAL PROFESSIONAL USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC. 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.