Currency hedging

Currency or exchange-rate risk is a factor when you invest in foreign securities. Although you purchased the Fund in Canadian dollars, it may invest in securities outside of Canada using a different currency. As a result, changes in the value of the Canadian dollar relative to the foreign currency affect your investment value either positively or negatively.

Currency hedging seeks to smooth the ups and downs generated by exchange-rate movements on the value of a Fund and provides investors with more certainty as to the level of foreign exchange exposure in their investment.

Passively hedged funds are one of the solutions for investors who want to diversify by investing outside of Canada and have one or more of the following attributes/characteristics:

  • Have a low tolerance for exchange-rate risk
  • Have a defined investment horizon that does not provide the opportunity to wait out currency moves
  • Are in retirement drawing funds in Canadian dollars
  • Believe the Canadian dollar will appreciate relative to other currencies
  • Are seeking to reduce volatility from currency fluctuations in their investment

Invesco solutions


Series H and Invesco Intactive Target Date Portfolios seek to hedge a substantial portion of all foreign currencies and foreign currency exposure.

Partially hedged

Invesco Intactive Accumulation Portfolios seek to hedge approximately half of their foreign currency exposure.

Invesco's PowerShares® Funds seek to hedge a substantial portion of the Fund's exposure to U.S. dollars.

The Invesco Intactive Accumulation Portfolios and Invesco Intactive Target Date Portfolios are Invesco Canada mutual funds that invest in a portfolio of underlying Invesco Canada mutual funds and exchange-traded funds. Tactical asset allocation strategies are used on a portion of the Accumulation Portfolios.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Unless otherwise indicated, rates of return for periods greater than one year are historical annual compound total returns including changes in unit or share value and reinvestment of all distributions, and do not take into account any sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns.

Please read the relevant prospectus before investing. Copies of the prospectus are also available from your financial advisor or Invesco Canada Ltd. by calling 1.800.874.6275 or e-mail us at

Regulatory documents

View our Fund Fact Documents and the Independent Review Committee's (IRC) annual report to security holders.

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