FXB vs. SPHD
FXB (Invesco CurrencyShares® British Pound Sterling Trust) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - FXB is a Currency fund tracking the British Pound, while SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index. Both are passively managed. Over the past 10 years, FXB returned 0.48%/yr vs 7.55%/yr for SPHD. At a 0.22 correlation, their price movements are largely independent. FXB charges 0.40%/yr vs 0.30%/yr for SPHD.
Performance
FXB vs. SPHD - 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 SPHD's 8.20% return. Over the past 10 years, FXB has underperformed SPHD with an annualized return of 0.48%, while SPHD has yielded a comparatively higher 7.55% 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%
SPHD
- 1D
- 1.63%
- 1M
- 0.82%
- YTD
- 8.20%
- 6M
- 8.56%
- 1Y
- 12.09%
- 3Y*
- 12.70%
- 5Y*
- 7.06%
- 10Y*
- 7.55%
FXB vs. SPHD - 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% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 8.20% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | -9.98% | 20.26% | -6.17% | 11.90% |
Correlation
The correlation between FXB and SPHD is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2012 | 0.22 |
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Return for Risk
FXB vs. SPHD — Risk / Return Rank
FXB
SPHD
FXB vs. SPHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® British Pound Sterling Trust (FXB) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). 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 | SPHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.18 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 1.66 | -1.73 |
| Martin ratioReturn relative to average drawdown | -0.15 | 4.06 | -4.21 |
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Drawdowns
FXB vs. SPHD - Drawdown Comparison
The maximum FXB drawdown since its inception was -48.99%, which is greater than SPHD's maximum drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for FXB and SPHD.
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Drawdown Indicators
| FXB | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.99% | -41.39% | -7.60% |
Max Drawdown (1Y)Largest decline over 1 year | -4.53% | -7.33% | +2.80% |
Max Drawdown (3Y)Largest decline over 3 years | -8.44% | -13.29% | +4.85% |
Max Drawdown (5Y)Largest decline over 5 years | -23.61% | -19.50% | -4.11% |
Max Drawdown (10Y)Largest decline over 10 years | -26.11% | -41.39% | +15.28% |
Current DrawdownCurrent decline from peak | -30.64% | -1.91% | -28.73% |
Average DrawdownAverage peak-to-trough decline | -27.54% | -4.69% | -22.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 2.98% | -0.73% |
Volatility
FXB vs. SPHD - Volatility Comparison
The current volatility for Invesco CurrencyShares® British Pound Sterling Trust (FXB) is 1.62%, while Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) has a volatility of 4.26%. This indicates that FXB experiences smaller price fluctuations and is considered to be less risky than SPHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXB | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 4.26% | -2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 4.90% | 8.13% | -3.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.57% | 11.48% | -4.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.48% | 14.16% | -5.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.87% | 17.65% | -8.78% |
FXB vs. SPHD - Expense Ratio Comparison
FXB has a 0.40% expense ratio, which is higher than SPHD's 0.30% expense ratio.
Dividends
FXB vs. SPHD - Dividend Comparison
FXB's dividend yield for the trailing twelve months is around 2.24%, less than SPHD's 4.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXB Invesco CurrencyShares® British Pound Sterling Trust | 2.24% | 2.44% | 3.25% | 2.59% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.60% | 4.02% | 3.41% | 4.48% | 3.89% | 3.45% | 4.89% | 4.07% | 4.40% | 3.14% | 3.83% | 3.49% |
Frequently Asked Questions
FXB and SPHD have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPHD has higher volatility (4.26%) compared to FXB (1.62%). In terms of maximum drawdown, FXB dropped -48.99% vs SPHD's -41.39%.
On 10-year performance, SPHD leads with 7.55% vs 0.48% for FXB. On fees, SPHD is cheaper at 0.30% per year. On volatility, FXB has been the lower-risk option at 1.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPHD has performed better with a 7.55% return vs 0.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPHD is cheaper with a 0.30% expense ratio, compared with 0.40% for FXB.
SPHD has the higher dividend yield at 4.60%, compared with 2.24% for FXB.
FXB is categorized as Currency, while SPHD is Dividend. FXB tracks British Pound, while SPHD tracks S&P 500 Low Volatility High Dividend Index. Their fees differ too: 0.40% for FXB and 0.30% for SPHD.
SPHD currently has the higher Sharpe Ratio (1.06 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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