FXB vs. FXC
FXB (Invesco CurrencyShares® British Pound Sterling Trust) and FXC (Invesco CurrencyShares® Canadian Dollar Trust) are both Currency funds from Invesco - FXB tracks the British Pound while FXC tracks the Canadian Dollar. Both are passively managed. Over the past 10 years, FXB returned 1.11%/yr vs -0.13%/yr for FXC. Their 0.46 correlation means their historical movements had little consistent relationship. Both charge a 0.40% expense ratio.
Performance
FXB vs. FXC - Performance Comparison
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Returns By Period
In the year-to-date period, FXB achieves a 0.84% return, which is significantly higher than FXC's -2.22% return. Over the past 10 years, FXB has outperformed FXC with an annualized return of 1.11%, while FXC has yielded a comparatively lower -0.13% annualized return.
FXB
- 1D
- -0.31%
- 1M
- 0.84%
- 6M
- -0.71%
- YTD
- 0.84%
- 1Y
- 3.44%
- 3Y*
- 4.55%
- 5Y*
- 1.28%
- 10Y*
- 1.11%
- ALL TIME*
- -0.68%
FXC
- 1D
- -0.27%
- 1M
- 0.78%
- 6M
- -2.63%
- YTD
- -2.22%
- 1Y
- -1.70%
- 3Y*
- -0.47%
- 5Y*
- -1.31%
- 10Y*
- -0.13%
- ALL TIME*
- -0.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.67M | $5.50M | $4.47M | |
| $2.83M | $2.70M | $1.69M |
FXB vs. FXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXB Invesco CurrencyShares® British Pound Sterling Trust | 0.84% | 10.37% | 1.35% | 8.58% | -10.45% | -1.54% | 2.87% | 3.87% | -5.75% | 9.10% |
FXC Invesco CurrencyShares® Canadian Dollar Trust | -2.22% | 5.24% | -5.96% | 4.35% | -6.44% | 0.22% | 1.92% | 5.94% | -7.54% | 6.72% |
Correlation
The correlation between FXB and FXC is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.56 |
Correlation (3Y) Balances recent behavior with more history. | 0.56 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.59 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2006 | 0.46 |
The correlation between FXB and FXC shifts across timeframes, from 0.46 (all time) to 0.59 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FXB vs. FXC — Risk / Return Rank
FXB
FXC
FXB vs. FXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® British Pound Sterling Trust (FXB) and Invesco CurrencyShares® Canadian Dollar Trust (FXC). 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 | FXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.94 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | -0.33 | +1.13 |
| Martin ratioReturn relative to average drawdown | 1.56 | -0.77 | +2.33 |
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Drawdowns
FXB vs. FXC - Drawdown Comparison
The maximum FXB drawdown since its inception was -48.99%, which is greater than FXC's maximum drawdown of -35.39%. Use the drawdown chart below to compare losses from any high point for FXB and FXC.
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Drawdown Indicators
| FXB | FXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.99% | -35.39% | -13.60% |
Max Drawdown (1Y)Largest decline over 1 year | -4.35% | -5.14% | +0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -8.44% | -7.34% | -1.10% |
Max Drawdown (5Y)Largest decline over 5 years | -23.40% | -11.65% | -11.75% |
Max Drawdown (10Y)Largest decline over 10 years | -26.11% | -15.46% | -10.65% |
Current DrawdownCurrent decline from peak | -29.24% | -29.63% | +0.39% |
Average DrawdownAverage peak-to-trough decline | -27.55% | -19.99% | -7.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 2.22% | -0.02% |
Volatility
FXB vs. FXC - Volatility Comparison
Invesco CurrencyShares® British Pound Sterling Trust (FXB) has a higher volatility of 1.87% compared to Invesco CurrencyShares® Canadian Dollar Trust (FXC) at 1.13%. This indicates that FXB's price experiences larger fluctuations and is considered to be riskier than FXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXB | FXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.87% | 1.13% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 4.72% | 2.84% | +1.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.46% | 4.30% | +2.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.47% | 6.26% | +2.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.71% | 6.59% | +2.12% |
FXB vs. FXC - Expense Ratio Comparison
Both FXB and FXC have an expense ratio of 0.40%.
Dividends
FXB vs. FXC - Dividend Comparison
FXB's dividend yield for the trailing twelve months is around 2.13%, more than FXC's 0.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXB Invesco CurrencyShares® British Pound Sterling Trust | 2.13% | 2.44% | 3.25% | 2.59% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FXC Invesco CurrencyShares® Canadian Dollar Trust | 0.20% | 0.55% | 2.23% | 2.01% | 0.31% | 0.00% | 0.19% | 0.75% | 0.42% | 0.02% | 0.00% | 0.02% |
Frequently Asked Questions
FXB and FXC have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXB has higher volatility (1.87%) compared to FXC (1.13%). In terms of maximum drawdown, FXB dropped -48.99% vs FXC's -35.39%.
On 10-year performance, FXB leads with 1.11% vs -0.13% for FXC. Both ETFs have the same 0.40% expense ratio. On volatility, FXC has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FXB has performed better with a 1.11% return vs -0.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXB and FXC have the same expense ratio: 0.40% per year.
FXB has the higher dividend yield at 2.13%, compared with 0.20% for FXC.
FXB tracks British Pound, while FXC tracks Canadian Dollar.
FXB currently has the higher Sharpe Ratio (0.54 vs -0.40), 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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