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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Invesco CurrencyShares® Japanese Yen Trust, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Invesco CurrencyShares® Japanese Yen Trust (FXY) has returned -1.35% so far this year and -5.89% over the past 12 months. Over the last ten years, FXY has returned -3.96% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
Invesco CurrencyShares® Japanese Yen Trust
- 1D
- 0.64%
- 1M
- -1.61%
- YTD
- -1.35%
- 6M
- -6.96%
- 1Y
- -5.89%
- 3Y*
- -6.20%
- 5Y*
- -7.45%
- 10Y*
- -3.96%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Feb 13, 2007, FXY's average daily return is -0.01%, while the average monthly return is -0.12%.
Historically, 50% of months were positive and 50% were negative. The best month was Oct 2008 with a return of +7.6%, while the worst month was Nov 2016 at -8.4%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 8 months.
On a daily basis, FXY closed higher 48% of trading days. The best single day was Dec 20, 2022 with a return of +4.1%, while the worst single day was Oct 30, 2014 at -5.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.28% | -0.99% | -1.61% | -1.35% | |||||||||
| 2025 | 1.45% | 3.11% | 0.29% | 4.94% | -0.79% | -0.14% | -4.47% | 2.54% | -0.67% | -4.10% | -1.24% | -0.42% | 0.09% |
| 2024 | -4.22% | -1.98% | -0.89% | -4.13% | 0.24% | -2.23% | 7.22% | 2.59% | 1.61% | -5.46% | 1.50% | -4.99% | -10.93% |
| 2023 | 0.79% | -4.47% | 2.45% | -2.54% | -2.25% | -3.40% | 1.16% | -2.10% | -2.71% | -1.46% | 2.19% | 5.09% | -7.44% |
| 2022 | -0.06% | 0.15% | -5.67% | -6.20% | 0.76% | -5.15% | 1.73% | -4.09% | -4.00% | -2.79% | 7.55% | 5.26% | -12.75% |
| 2021 | -1.51% | -1.75% | -3.77% | 1.22% | -0.51% | -1.20% | 1.25% | -0.33% | -1.22% | -2.37% | 0.78% | -1.94% | -10.90% |
Benchmark Metrics
Invesco CurrencyShares® Japanese Yen Trust has an annualized alpha of 0.25%, beta of -0.16, and R² of 0.10 versus S&P 500 Index. Calculated based on daily prices since February 14, 2007.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -8.63%), but participation in market rallies was also limited (-9.62%) — a profile typical of counter-cyclical assets.
- Beta of -0.16 may look defensive, but with R² of 0.10 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R² of 0.10 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 0.25%
- Beta
- -0.16
- R²
- 0.10
- Upside Capture
- -9.62%
- Downside Capture
- -8.63%
Expense Ratio
FXY has an expense ratio of 0.40%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FXY ranks 4 for risk / return — in the bottom 4% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Invesco CurrencyShares® Japanese Yen Trust (FXY) and compare them to a chosen benchmark (S&P 500 Index).
| FXY | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.58 | 0.90 | -1.47 |
Sortino ratioReturn per unit of downside risk | -0.78 | 1.39 | -2.16 |
Omega ratioGain probability vs. loss probability | 0.91 | 1.21 | -0.30 |
Calmar ratioReturn relative to maximum drawdown | -0.48 | 1.40 | -1.88 |
Martin ratioReturn relative to average drawdown | -0.80 | 6.61 | -7.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore FXY risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Invesco CurrencyShares® Japanese Yen Trust. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Invesco CurrencyShares® Japanese Yen Trust was 56.03%, occurring on Jul 10, 2024. The portfolio has not yet recovered.
The current Invesco CurrencyShares® Japanese Yen Trust drawdown is 55.51%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -56.03% | Oct 31, 2011 | 3192 | Jul 10, 2024 | — | — | — |
| -13.65% | Dec 18, 2008 | 74 | Apr 6, 2009 | 164 | Nov 27, 2009 | 238 |
| -12.05% | Mar 18, 2008 | 106 | Aug 15, 2008 | 48 | Oct 23, 2008 | 154 |
| -8.76% | Dec 1, 2009 | 105 | May 3, 2010 | 64 | Aug 3, 2010 | 169 |
| -7.63% | Mar 18, 2011 | 14 | Apr 6, 2011 | 72 | Jul 20, 2011 | 86 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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