Swiss Franc Trust posts Q1 loss as negative rates return; tariff risk disclosure removed

Filed May 7, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 8, 2025 · ~1 min read

Key Changes

• high

  Swiss Franc weakened against the dollar in Q1 2026, delivering negative performance after late-quarter U.S. dollar strength reversed January safe-haven gains from Iran conflict. This contrasts sharply with Q1 2025's strong gains driven by sustained dollar weakness and recession fears.

  MD&A: Q1 2026 currency performance verify on EDGAR →
• medium

  Deposit interest rate turned negative at -0.15% versus 0.00% prior year, increasing operating costs as the Trust now pays to hold Swiss Franc deposits rather than earning interest income, directly reducing net asset value.

  MD&A: deposit interest rate verify on EDGAR →
• medium

  Removed detailed tariff and trade policy risk factor that was added in prior quarter, reverting to standard no-material-changes language. Suggests company no longer views tariff-driven FX volatility as requiring separate quarterly disclosure.

  Risk Factors verify on EDGAR →