FXB vs. ^DXY
FXB (Invesco CurrencyShares® British Pound Sterling Trust) is Currency fund tracking the British Pound, while ^DXY (US Dollar Currency Index) is an index. Over the past 10 years, FXB returned 0.48%/yr vs 0.57%/yr for ^DXY. At a correlation of -0.68, they often move in opposite directions.
Performance
FXB vs. ^DXY - Performance Comparison
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Returns By Period
In the year-to-date period, FXB achieves a -1.17% return, which is significantly lower than ^DXY's 1.13% return. Over the past 10 years, FXB has underperformed ^DXY with an annualized return of 0.48%, while ^DXY has yielded a comparatively higher 0.57% annualized return.
FXB
- 1D
- -0.37%
- 1M
- -1.63%
- YTD
- -1.17%
- 6M
- -1.24%
- 1Y
- -0.33%
- 3Y*
- 4.05%
- 5Y*
- 0.79%
- 10Y*
- 0.48%
^DXY
- 1D
- -0.10%
- 1M
- 0.19%
- YTD
- 1.13%
- 6M
- 1.52%
- 1Y
- 1.03%
- 3Y*
- -1.49%
- 5Y*
- 1.98%
- 10Y*
- 0.57%
FXB vs. ^DXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXB Invesco CurrencyShares® British Pound Sterling Trust | -1.17% | 10.37% | 1.35% | 8.58% | -10.45% | -1.54% | 2.87% | 3.87% | -5.75% | 9.10% |
^DXY US Dollar Currency Index | 1.13% | -9.37% | 7.06% | -2.11% | 7.87% | 6.71% | -6.69% | 0.22% | 4.40% | -9.87% |
Correlation
The correlation between FXB and ^DXY is -0.81, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.74 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2006 | -0.68 |
The correlation between FXB and ^DXY shifts across timeframes, from -0.82 (3 years) to -0.68 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FXB vs. ^DXY — Risk / Return Rank
FXB
^DXY
FXB vs. ^DXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® British Pound Sterling Trust (FXB) and US Dollar Currency Index (^DXY). 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.
| FXB | ^DXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.02 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 0.16 | -0.23 |
| Martin ratioReturn relative to average drawdown | -0.15 | 0.36 | -0.51 |
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Drawdowns
FXB vs. ^DXY - Drawdown Comparison
The maximum FXB drawdown since its inception was -48.99%, which is greater than ^DXY's maximum drawdown of -45.13%. Use the drawdown chart below to compare losses from any high point for FXB and ^DXY.
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Drawdown Indicators
| FXB | ^DXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.99% | -45.13% | -3.86% |
Max Drawdown (1Y)Largest decline over 1 year | -4.53% | -4.00% | -0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -8.44% | -12.49% | +4.05% |
Max Drawdown (5Y)Largest decline over 5 years | -23.61% | -15.68% | -7.93% |
Max Drawdown (10Y)Largest decline over 10 years | -26.11% | -15.68% | -10.43% |
Current DrawdownCurrent decline from peak | -30.64% | -23.51% | -7.13% |
Average DrawdownAverage peak-to-trough decline | -27.54% | -28.16% | +0.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 1.76% | +0.49% |
Volatility
FXB vs. ^DXY - Volatility Comparison
Invesco CurrencyShares® British Pound Sterling Trust (FXB) has a higher volatility of 1.62% compared to US Dollar Currency Index (^DXY) at 0.94%. This indicates that FXB's price experiences larger fluctuations and is considered to be riskier than ^DXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXB | ^DXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 0.94% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 4.90% | 3.91% | +0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.57% | 5.70% | +0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.48% | 6.97% | +1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.87% | 6.49% | +2.38% |
Frequently Asked Questions
FXB and ^DXY have a correlation of -0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXB has higher volatility (1.62%) compared to ^DXY (0.94%). In terms of maximum drawdown, FXB dropped -48.99% vs ^DXY's -45.13%.
^DXY currently has the higher Sharpe Ratio (0.11 vs -0.05), 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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