FXB vs. ^DXY

Last updated Jul 17, 2026

FXB (Invesco CurrencyShares® British Pound Sterling Trust) is Currency fund tracking the British Pound, while ^DXY (US Dollar Currency Index) is an index. At a correlation of -0.68, they often move in opposite directions.

Performance

FXB vs. ^DXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco CurrencyShares® British Pound Sterling Trust (FXB) and US Dollar Currency Index (^DXY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FXB

• 1D: -0.46%
• 1M: 0.55%
• 6M: 1.76%
• YTD: 1.04%
• 1Y: 2.61%
• 3Y*: 3.78%
• 5Y*: 1.51%
• 10Y*: 0.99%

^DXY

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FXB vs. ^DXY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXB Invesco CurrencyShares® British Pound Sterling Trust	1.04%	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 -0.79, 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	-0.79
Correlation (3Y) Calculated over the trailing 3-year period	-0.81
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 -0.81 (5 years) to -0.68 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FXB vs. ^DXY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FXB

FXB Risk / Return Rank: 16
FXB Sharpe Ratio Rank: 17
FXB Sortino Ratio Rank: 15
FXB Omega Ratio Rank: 14
FXB Calmar Ratio Rank: 18
FXB Martin Ratio Rank: 16

^DXY

^DXY Risk / Return Rank: 17
^DXY Sharpe Ratio Rank: 18
^DXY Sortino Ratio Rank: 15
^DXY Omega Ratio Rank: 15
^DXY Calmar Ratio Rank: 19
^DXY Martin Ratio Rank: 19

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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 ratio: Return per unit of total volatility	0.40	—	—
Sortino ratio: Return per unit of downside risk	0.62	—	—
Omega ratio: Gain probability vs. loss probability	1.07	—	—
Calmar ratio: Return relative to maximum drawdown	0.60	—	—
Martin ratio: Return relative to average drawdown	1.20	—	—

Drawdowns

Drawdown Indicators

	FXB	^DXY	Difference
Max Drawdown Largest peak-to-trough decline	-48.99%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-4.35%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.44%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.61%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-26.11%	—	—
Current Drawdown Current decline from peak	-29.09%	—	—
Average Drawdown Average peak-to-trough decline	-27.55%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	—	—

Volatility

Volatility by Period

	FXB	^DXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.53%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.48%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.74%	—	—

Frequently Asked Questions

Can I hold both FXB and ^DXY in my portfolio?

FXB and ^DXY have a correlation of -0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.