PerfView: EncoderFallbackException

I'm trying to export all events to xml and getting this exception:

Exception Occured: System.Text.EncoderFallbackException: Unable to translate Unicode character \uDCDC at index 263 to specified code page.
   at PerfViewExtensibility.Extensions.ExecuteUserCommand(String command, String[] args)
   at PerfView.CommandProcessor.UserCommand(CommandLineArgs parsedArgs)
   at PerfView.MainWindow.<>c__DisplayClass9.<ExecuteCommand>b__7()
   at PerfView.StatusBar.<>c__DisplayClass8.<StartWork>b__6(Object param0)
An exceptional condition occurred, see log for details.

Command line: "PerfView.EXE" UserCommand DumpEventsAsXml Test.etl.

How can I fix it?