Based on the absence of any provided film content, no LGBTQ+ characters or themes could be identified for evaluation. Therefore, the portrayal is rated as N/A, indicating no depiction within the given information.

This film documents King Frederik VIII's visit to Iceland. Based on its historical context and title, there is no indication of any identifiable transsexual characters or themes present in the narrative. The film's focus is solely on the royal visit.

The movie does not contain any action or adventure elements.

The film depicts the arrival of real historical figures, Prince Wilhelm and Princess Maria, whose genders are explicitly stated in the title and are historically documented. There is no indication of any gender alteration from their historical identities.

The film, released in 1908, depicts real historical figures Prince Wilhelm of Sweden and Grand Duchess Maria Pavlovna of Russia, both of whom were historically white. As a contemporary historical depiction, it would not involve a 'race swap' from a prior established canon or source material.