Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2017

Accounting Policies [Abstract]

Summary of the Tiered Valuation Input Levels

The following is a summary of the tiered valuation input levels as of March 31, 2017:

	Level 1			Level 2		Level 3		Total
United States Treasury Obligations	$	—		$	700,599,334	$	—	$	700,599,334
Money Market Mutual Fund		33,096,938			—		—		33,096,938
		33,096,938			700,599,334		—		733,696,272
Currency Futures Contracts (a)		(10,539,511	)		—		—		(10,539,511	)
Total Investments	$	22,557,427		$	700,599,334	$	—	$	723,156,761

^(a) Unrealized appreciation (depreciation).

The following is a summary of the tiered valuation input levels as of December 31, 2016:

	Level 1		Level 2		Level 3		Total
United States Treasury Obligations	$	—	$	846,158,812	$	—	$	846,158,812
Money Market Mutual Fund		3,786,312		—		—		3,786,312
		3,786,312		846,158,812		—		849,945,124
Currency Futures Contracts (a)		1,988,810		—		—		1,988,810
Total Investments	$	5,775,122	$	846,158,812	$	—	$	851,933,934

^(a) Unrealized appreciation (depreciation).

Fair Value of Derivative Instruments and Effect of Derivative Instruments on Statements of Income and Expenses

The Fair Value of Derivative Instruments is as follows:

	March 31, 2017					December 31, 2016
Risk Exposure/Derivative Type (a)	Assets		Liabilities			Assets		Liabilities
Currency risk
Currency Futures Contracts	$	—	$	(10,539,511	)	$	1,988,810	$	—

^(a) Includes cumulative appreciation (depreciation) of currency futures contracts. Only current day’s variation margin receivable (payable) is reported in the March 31, 2017 and December 31, 2016 Statements of Financial Condition.

The Effect of Derivative Instruments on the Statements of Income and Expenses is as follows:

		For the Three Months  Ended
	Location of Gain or (Loss) on Derivatives	March 31,
Risk Exposure/Derivative Type	Recognized in Income	2017			2016
Currency risk
Currency Futures Contracts	Net Realized Gain (Loss)	$	(3,230,803	)	$	(11,235,553	)
	Net Change in Unrealized Gain (Loss)		(12,528,321	)		(24,474,442	)
Total		$	(15,759,124	)	$	(35,709,995	)

Summary of Average Monthly Notional Value of Future Contracts Outstanding

The table below summarizes the average monthly notional value of futures contracts outstanding during the period:

	For the Three Months Ended
	March 31,
	2017		2016
Average Notional Value	$	790,692,411	$	940,304,245

Summary of Gross and Net Amounts of Offsetting Assets and Liabilities

The following table presents derivative instruments that are either subject to an enforceable netting agreement or offset by collateral arrangements as of March 31, 2017, net by contract:

				GrossAmounts Offset in the			Net Amounts Presented in		Gross Amounts Not Offset in the Statement of Financial Condition
	Gross Amounts Recognized			Statement of Financial Condition			the Statement of Financial Condition		Financial Instruments (a)		Cash Collateral Pledged (a)		Net Amount
Assets
Currency Futures Contracts	$	13,344,919		$	(10,539,511	)	$	2,805,408	$	—	$	—	$	2,805,408
Liabilities
Currency Futures Contracts	$	(10,539,511	)	$	10,539,511		$	—	$	—	$	—	$	—

The following table presents derivative instruments that are either subject to an enforceable netting agreement or offset by collateral arrangements as of December 31, 2016, net by contract:

				Gross Amounts Offset in the			Net Amounts Presented in			Gross Amounts Not Offset in the Statement of Financial Condition
	Gross Amounts Recognized			Statement of Financial Condition			the Statement of Financial Condition			Financial Instruments (a)		Cash Collateral Pledged (a)		Net Amount
Assets
Currency Futures Contracts	$	1,988,810		$	(1,988,810	)	$	—		$	—	$	—	$	—
Liabilities
Currency Futures Contracts	$	(5,503,560	)	$	1,988,810		$	(3,514,750	)	$	3,514,750	$	—	$	—

^(a) As of March 31, 2017 and December 31, 2016, a portion of the Fund’s U.S. Treasury Obligations were required to be deposited as maintenance margin in support of the Fund’s futures positions.