FXA vs. GOVZ
FXA (Invesco CurrencyShares Australian Dollar Trust) and GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) are both exchange-traded funds - FXA is a Currency fund tracking the USD/AUD Exchange Rate, while GOVZ is a Government Bonds fund tracking the ICE BofA Long US Treasury Principal STRIPS Index. Both are passively managed. Over the past 5 years, FXA returned -0.01%/yr vs -14.32%/yr for GOVZ. Their 0.09 correlation means their historical movements had little consistent relationship. FXA charges 0.40%/yr vs 0.15%/yr for GOVZ.
Performance
FXA vs. GOVZ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FXA achieves a 6.14% return, which is significantly higher than GOVZ's -6.93% return.
FXA
- 1D
- 0.13%
- 1M
- 1.83%
- 6M
- 1.60%
- YTD
- 6.14%
- 1Y
- 10.19%
- 3Y*
- 3.44%
- 5Y*
- -0.01%
- 10Y*
- -0.16%
- ALL TIME*
- 1.72%
GOVZ
- 1D
- -1.06%
- 1M
- -6.91%
- 6M
- -6.43%
- YTD
- -6.93%
- 1Y
- -7.36%
- 3Y*
- -8.06%
- 5Y*
- -14.32%
- 10Y*
- —
- ALL TIME*
- -14.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $574.34K | $643.91K | $753.00K | |
| $6.61M | $6.41M | $8.12M |
FXA vs. GOVZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FXA Invesco CurrencyShares Australian Dollar Trust | 6.14% | 9.10% | -7.75% | 1.20% | -6.46% | -6.17% | 8.93% |
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | -6.93% | -1.81% | -16.24% | 0.90% | -41.03% | -4.86% | -5.61% |
Correlation
The correlation between FXA and GOVZ is 0.13, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.13 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | 0.09 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FXA vs. GOVZ — Risk / Return Rank
FXA
GOVZ
FXA vs. GOVZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares Australian Dollar Trust (FXA) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FXA | GOVZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.75 | ||
| Sortino ratioReturn per unit of downside risk | +2.42 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.95 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | -0.40 | +2.63 |
| Martin ratioReturn relative to average drawdown | 5.44 | -0.81 | +6.25 |
Loading charts...
Drawdowns
FXA vs. GOVZ - Drawdown Comparison
The maximum FXA drawdown since its inception was -40.97%, smaller than the maximum GOVZ drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for FXA and GOVZ.
Loading charts...
Drawdown Indicators
| FXA | GOVZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.97% | -59.65% | +18.68% |
Max Drawdown (1Y)Largest decline over 1 year | -4.82% | -14.87% | +10.05% |
Max Drawdown (3Y)Largest decline over 3 years | -13.02% | -26.42% | +13.40% |
Max Drawdown (5Y)Largest decline over 5 years | -18.90% | -57.63% | +38.73% |
Max Drawdown (10Y)Largest decline over 10 years | -27.99% | — | — |
Current DrawdownCurrent decline from peak | -25.24% | -59.10% | +33.86% |
Average DrawdownAverage peak-to-trough decline | -18.87% | -40.34% | +21.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 7.27% | -5.30% |
Volatility
FXA vs. GOVZ - Volatility Comparison
The current volatility for Invesco CurrencyShares Australian Dollar Trust (FXA) is 1.86%, while iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a volatility of 4.48%. This indicates that FXA experiences smaller price fluctuations and is considered to be less risky than GOVZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FXA | GOVZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.86% | 4.48% | -2.62% |
Volatility (6M)Calculated over the trailing 6-month period | 6.31% | 11.11% | -4.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.86% | 15.58% | -7.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.39% | 23.80% | -13.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.83% | 23.18% | -13.35% |
FXA vs. GOVZ - Expense Ratio Comparison
FXA has a 0.40% expense ratio, which is higher than GOVZ's 0.15% expense ratio.
Dividends
FXA vs. GOVZ - Dividend Comparison
FXA's dividend yield for the trailing twelve months is around 1.00%, less than GOVZ's 5.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXA Invesco CurrencyShares Australian Dollar Trust | 0.91% | 1.16% | 1.66% | 0.98% | 0.05% | 0.00% | 0.03% | 0.53% | 1.04% | 0.83% | 1.01% | 1.52% |
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 5.06% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FXA and GOVZ have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVZ has higher volatility (4.48%) compared to FXA (1.86%). In terms of maximum drawdown, FXA dropped -40.97% vs GOVZ's -59.65%.
On 5-year performance, FXA leads with -0.01% vs -14.32% for GOVZ. On fees, GOVZ is cheaper at 0.15% per year. On volatility, FXA has been the lower-risk option at 1.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FXA has performed better with a -0.01% return vs -14.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOVZ is cheaper with a 0.15% expense ratio, compared with 0.40% for FXA.
GOVZ has the higher dividend yield at 5.06%, compared with 0.91% for FXA.
FXA is categorized as Currency, while GOVZ is Government Bonds. FXA tracks USD/AUD Exchange Rate, while GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.40% for FXA and 0.15% for GOVZ.
FXA currently has the higher Sharpe Ratio (1.37 vs -0.38), 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.
Find the right allocation for FXA and GOVZ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer