FXB vs. SPHQ
FXB (Invesco CurrencyShares® British Pound Sterling Trust) and SPHQ (Invesco S&P 500 Quality ETF) are both exchange-traded funds - FXB is a Currency fund tracking the British Pound, while SPHQ is a S&P 500 fund tracking the S&P 500 Quality Index. Both are passively managed. Over the past 10 years, FXB returned 0.48%/yr vs 15.46%/yr for SPHQ. At a 0.23 correlation, their price movements are largely independent. FXB charges 0.40%/yr vs 0.15%/yr for SPHQ.
Performance
FXB vs. SPHQ - 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 SPHQ's 16.54% return. Over the past 10 years, FXB has underperformed SPHQ with an annualized return of 0.48%, while SPHQ has yielded a comparatively higher 15.46% 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%
SPHQ
- 1D
- -2.93%
- 1M
- 2.94%
- YTD
- 16.54%
- 6M
- 15.11%
- 1Y
- 25.84%
- 3Y*
- 22.34%
- 5Y*
- 14.14%
- 10Y*
- 15.46%
FXB vs. SPHQ - 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% |
SPHQ Invesco S&P 500 Quality ETF | 16.54% | 13.25% | 25.44% | 24.83% | -15.76% | 28.03% | 17.36% | 33.64% | -7.10% | 19.10% |
Correlation
The correlation between FXB and SPHQ is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2006 | 0.23 |
The correlation between FXB and SPHQ shifts across timeframes, from 0.23 (all time) to 0.37 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FXB vs. SPHQ — Risk / Return Rank
FXB
SPHQ
FXB vs. SPHQ - 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 Quality ETF (SPHQ). 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 | SPHQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -2.76 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.34 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 2.92 | -2.99 |
| Martin ratioReturn relative to average drawdown | -0.15 | 12.48 | -12.63 |
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Drawdowns
FXB vs. SPHQ - Drawdown Comparison
The maximum FXB drawdown since its inception was -48.99%, smaller than the maximum SPHQ drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for FXB and SPHQ.
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Drawdown Indicators
| FXB | SPHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.99% | -57.83% | +8.84% |
Max Drawdown (1Y)Largest decline over 1 year | -4.53% | -8.90% | +4.37% |
Max Drawdown (3Y)Largest decline over 3 years | -8.44% | -16.57% | +8.13% |
Max Drawdown (5Y)Largest decline over 5 years | -23.61% | -25.04% | +1.43% |
Max Drawdown (10Y)Largest decline over 10 years | -26.11% | -31.60% | +5.49% |
Current DrawdownCurrent decline from peak | -30.64% | -2.93% | -27.71% |
Average DrawdownAverage peak-to-trough decline | -27.54% | -10.68% | -16.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 2.07% | +0.18% |
Volatility
FXB vs. SPHQ - Volatility Comparison
The current volatility for Invesco CurrencyShares® British Pound Sterling Trust (FXB) is 1.62%, while Invesco S&P 500 Quality ETF (SPHQ) has a volatility of 5.88%. This indicates that FXB experiences smaller price fluctuations and is considered to be less risky than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXB | SPHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 5.88% | -4.26% |
Volatility (6M)Calculated over the trailing 6-month period | 4.90% | 11.30% | -6.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.57% | 13.46% | -6.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.48% | 16.59% | -8.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.87% | 17.91% | -9.04% |
FXB vs. SPHQ - Expense Ratio Comparison
FXB has a 0.40% expense ratio, which is higher than SPHQ's 0.15% expense ratio.
Dividends
FXB vs. SPHQ - Dividend Comparison
FXB's dividend yield for the trailing twelve months is around 2.24%, more than SPHQ's 1.07% 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% |
SPHQ Invesco S&P 500 Quality ETF | 1.07% | 1.09% | 1.15% | 1.42% | 1.85% | 1.19% | 1.55% | 1.51% | 1.85% | 1.57% | 1.67% | 2.29% |
Frequently Asked Questions
FXB and SPHQ have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPHQ has higher volatility (5.88%) compared to FXB (1.62%). In terms of maximum drawdown, FXB dropped -48.99% vs SPHQ's -57.83%.
On 10-year performance, SPHQ leads with 15.46% vs 0.48% for FXB. On fees, SPHQ is cheaper at 0.15% 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, SPHQ has performed better with a 15.46% return vs 0.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPHQ is cheaper with a 0.15% expense ratio, compared with 0.40% for FXB.
FXB has the higher dividend yield at 2.24%, compared with 1.07% for SPHQ.
FXB is categorized as Currency, while SPHQ is S&P 500. FXB tracks British Pound, while SPHQ tracks S&P 500 Quality Index. Their fees differ too: 0.40% for FXB and 0.15% for SPHQ.
SPHQ currently has the higher Sharpe Ratio (1.94 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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