Euro Deposits

Euro principal deposits are held in a euro-denominated, interest-bearing demand account. The interest rate in effect as of April 30, 2015 was an annual nominal rate of -0.20%. For the six months ended April 30, 2015, there were euro principal deposits of 792,127,041, euro principal redemptions of 629,876,774 and euro withdrawals (to pay expenses) of 413,344, resulting in an ending euro principal balance of 324,484,634. This equates to 363,601,216 USD (which includes USD subscriptions receivable). For the year ended October 31, 2014, there were euro principal deposits of 582,440,607, euro principal redemptions of 567,615,398 and euro withdrawals (to pay expenses) of 613,581, resulting in an ending euro principal balance of 162,647,711. This equates to 203,781,392 USD (which includes USD redemptions payable).

Net interest, if any, associated with creation and redemption activity is held in a euro-denominated non-interest-bearing account, and any balance is distributed in full as part of the monthly income distributions, if any.