CHF=X vs. USD
CHF=X (USD/CHF) is a currency, while USD (ProShares Ultra Semiconductors) is Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Over the past 10 years, CHF=X returned -1.91%/yr vs 55.16%/yr for USD. At a 0.13 correlation, their price movements are largely independent.
Performance
CHF=X vs. USD - Performance Comparison
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Different Trading Currencies
CHF=X is traded in CHF, while USD is traded in USD. To make them comparable, the USD values have been converted to CHF using the latest available exchange rates.
Returns By Period
In the year-to-date period, CHF=X achieves a 0.29% return, which is significantly lower than USD's 69.56% return. Over the past 10 years, CHF=X has underperformed USD with an annualized return of -1.91%, while USD has yielded a comparatively higher 55.16% annualized return.
CHF=X
- 1D
- 0.74%
- 1M
- 2.14%
- YTD
- 0.29%
- 6M
- -1.08%
- 1Y
- -2.92%
- 3Y*
- -4.30%
- 5Y*
- -2.42%
- 10Y*
- -1.91%
USD
- 1D
- -16.23%
- 1M
- 2.18%
- YTD
- 69.56%
- 6M
- 61.03%
- 1Y
- 187.57%
- 3Y*
- 102.66%
- 5Y*
- 57.81%
- 10Y*
- 55.16%
CHF=X vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CHF=X USD/CHF | 0.29% | -12.62% | 7.88% | -8.95% | 1.37% | 2.95% | -8.43% | -1.70% | 0.97% | -4.25% |
USD ProShares Ultra Semiconductors | 69.56% | 41.62% | 158.53% | 199.35% | -68.13% | 110.29% | 53.98% | 106.79% | -26.17% | 74.01% |
Correlation
The correlation between CHF=X and USD is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2007 | 0.13 |
The correlation between CHF=X and USD shifts across timeframes, from 0.01 (5 years) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CHF=X vs. USD — Risk / Return Rank
CHF=X
USD
CHF=X vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USD/CHF (CHF=X) and ProShares Ultra Semiconductors (USD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| CHF=X | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.28 | ||
| Sortino ratioReturn per unit of downside risk | -3.29 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.40 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.31 | 5.92 | -6.23 |
| Martin ratioReturn relative to average drawdown | -0.62 | 16.17 | -16.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CHF=X | USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.34 | 2.94 | -3.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | 0.75 | -1.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.24 | 0.79 | -1.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.20 | 0.41 | -0.61 |
Drawdowns
CHF=X vs. USD - Drawdown Comparison
The maximum CHF=X drawdown since its inception was -41.14%, smaller than the maximum USD drawdown of -87.84%. Use the drawdown chart below to compare losses from any high point for CHF=X and USD.
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Drawdown Indicators
| CHF=X | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.14% | -87.84% | +46.70% |
Max Drawdown (1Y)Largest decline over 1 year | -7.52% | -31.89% | +24.37% |
Max Drawdown (3Y)Largest decline over 3 years | -17.43% | -66.19% | +48.76% |
Max Drawdown (5Y)Largest decline over 5 years | -24.87% | -75.93% | +51.06% |
Max Drawdown (10Y)Largest decline over 10 years | -26.13% | -75.93% | +49.80% |
Current DrawdownCurrent decline from peak | -35.04% | -21.07% | -13.97% |
Average DrawdownAverage peak-to-trough decline | -22.16% | -35.39% | +13.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 11.65% | -8.98% |
Volatility
CHF=X vs. USD - Volatility Comparison
The current volatility for USD/CHF (CHF=X) is 1.67%, while ProShares Ultra Semiconductors (USD) has a volatility of 27.14%. This indicates that CHF=X experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CHF=X | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 27.14% | -25.47% |
Volatility (6M)Calculated over the trailing 6-month period | 5.77% | 50.08% | -44.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.99% | 64.19% | -57.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.86% | 77.07% | -69.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.34% | 69.96% | -62.62% |
Frequently Asked Questions
CHF=X and USD have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (27.14%) compared to CHF=X (1.67%). In terms of maximum drawdown, CHF=X dropped -41.14% vs USD's -87.84%.
USD currently has the higher Sharpe Ratio (2.94 vs -0.34), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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