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FXC vs. DIA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FXC vs. DIA

Last updated Jun 3, 2026

FXC (Invesco CurrencyShares® Canadian Dollar Trust) and DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) are both exchange-traded funds - FXC is a Currency fund tracking the Canadian Dollar, while DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average. Both are passively managed. Over the past 10 years, FXC returned -0.15%/yr vs 13.34%/yr for DIA. At a 0.42 correlation, their price movements are largely independent. FXC charges 0.40%/yr vs 0.16%/yr for DIA.

Performance

FXC vs. DIA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco CurrencyShares® Canadian Dollar Trust (FXC) and State Street SPDR Dow Jones Industrial Average ETF Trust (DIA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FXC achieves a -0.74% return, which is significantly lower than DIA's 7.47% return. Over the past 10 years, FXC has underperformed DIA with an annualized return of -0.15%, while DIA has yielded a comparatively higher 13.34% annualized return.

FXC

1D
0.01%
1M
-1.76%
YTD
-0.74%
6M
1.05%
1Y
-0.81%
3Y*
0.26%
5Y*
-1.74%
10Y*
-0.15%

DIA

1D
0.51%
1M
3.90%
YTD
7.47%
6M
8.91%
1Y
23.18%
3Y*
16.89%
5Y*
10.12%
10Y*
13.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FXC vs. DIA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FXC
Invesco CurrencyShares® Canadian Dollar Trust		-0.74%5.24%-5.96%4.35%-6.44%0.22%1.92%5.94%-7.54%6.72%
DIA
State Street SPDR Dow Jones Industrial Average ETF Trust		7.47%14.71%14.82%16.02%-7.02%20.83%9.59%24.70%-3.74%28.08%

Correlation

The correlation between FXC and DIA is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.23

Correlation (3Y)
Calculated over the trailing 3-year period

0.28

Correlation (5Y)
Calculated over the trailing 5-year period

0.43

Correlation (10Y)
Calculated over the trailing 10-year period

0.39

Correlation (All Time)
Calculated using the full available price history since Jun 27, 2006

0.42

The correlation between FXC and DIA shifts across timeframes, from 0.23 (1 year) to 0.43 (5 years), reflecting how their relationship changes across market environments.

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Invesco CurrencyShares® Canadian Dollar Trust

State Street SPDR Dow Jones Industrial Average ETF Trust

Often compared with FXC:
FXC vs. FXEFXC vs. USOFXC vs. QQQFXC vs. FXBFXC vs. TLTFXC vs. XLKFXC vs. GLD
Often compared with DIA:
DIA vs. QQQDIA vs. SPYDIA vs. VOODIA vs. DJDDIA vs. SCHDDIA vs. IYYDIA vs. ^DJI

Return for Risk

FXC vs. DIA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FXC
FXC Risk / Return Rank: 77
Overall Rank
FXC Sharpe Ratio Rank: 77
Sharpe Ratio Rank
FXC Sortino Ratio Rank: 66
Sortino Ratio Rank
FXC Omega Ratio Rank: 66
Omega Ratio Rank
FXC Calmar Ratio Rank: 77
Calmar Ratio Rank
FXC Martin Ratio Rank: 77
Martin Ratio Rank
DIA
DIA Risk / Return Rank: 5454
Overall Rank
DIA Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
DIA Sortino Ratio Rank: 5959
Sortino Ratio Rank
DIA Omega Ratio Rank: 5656
Omega Ratio Rank
DIA Calmar Ratio Rank: 4848
Calmar Ratio Rank
DIA Martin Ratio Rank: 5353
Martin Ratio Rank
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.

FXC vs. DIA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Canadian Dollar Trust (FXC) and State Street SPDR Dow Jones Industrial Average ETF Trust (DIA). 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.

FXCDIADifference

Sharpe ratio

Return per unit of total volatility

-0.18

1.93

-2.11

Sortino ratio

Return per unit of downside risk

-0.24

2.81

-3.05

Omega ratio

Gain probability vs. loss probability

0.97

1.34

-0.37

Calmar ratio

Return relative to maximum drawdown

-0.16

2.40

-2.57

Martin ratio

Return relative to average drawdown

-0.32

9.31

-9.63

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FXC vs. DIA - Sharpe Ratio Comparison

The current FXC Sharpe Ratio is -0.18, which is lower than the DIA Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of FXC and DIA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

FXCDIADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.18

1.93

-2.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.28

0.69

-0.96

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.02

0.76

-0.79

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.05

0.49

-0.54

Drawdowns

FXC vs. DIA - Drawdown Comparison

The maximum FXC drawdown since its inception was -35.39%, smaller than the maximum DIA drawdown of -51.87%. Use the drawdown chart below to compare losses from any high point for FXC and DIA.

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Drawdown Indicators

FXCDIADifference

Max Drawdown

Largest peak-to-trough decline

-35.39%

-51.87%

+16.48%

Max Drawdown (1Y)

Largest decline over 1 year

-3.78%

-9.76%

+5.98%

Max Drawdown (3Y)

Largest decline over 3 years

-7.34%

-15.95%

+8.61%

Max Drawdown (5Y)

Largest decline over 5 years

-13.53%

-20.76%

+7.23%

Max Drawdown (10Y)

Largest decline over 10 years

-15.46%

-36.70%

+21.24%

Current Drawdown

Current decline from peak

-28.56%

0.00%

-28.56%

Average Drawdown

Average peak-to-trough decline

-19.91%

-7.14%

-12.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.98%

2.52%

-0.54%

Volatility

FXC vs. DIA - Volatility Comparison

The current volatility for Invesco CurrencyShares® Canadian Dollar Trust (FXC) is 0.69%, while State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) has a volatility of 2.95%. This indicates that FXC experiences smaller price fluctuations and is considered to be less risky than DIA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FXCDIADifference

Volatility (1M)

Calculated over the trailing 1-month period

0.69%

2.95%

-2.26%

Volatility (6M)

Calculated over the trailing 6-month period

3.25%

9.25%

-6.00%

Volatility (1Y)

Calculated over the trailing 1-year period

4.49%

12.04%

-7.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.37%

14.77%

-8.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.66%

17.53%

-10.87%

FXC vs. DIA - Expense Ratio Comparison

FXC has a 0.40% expense ratio, which is higher than DIA's 0.16% expense ratio.

Dividends

FXC vs. DIA - Dividend Comparison

FXC's dividend yield for the trailing twelve months is around 0.26%, less than DIA's 1.36% yield.

PositionTTM20252024202320222021202020192018201720162015
DIA
State Street SPDR Dow Jones Industrial Average ETF Trust		1.36%1.43%1.61%1.81%1.91%1.58%1.87%1.85%2.24%1.97%2.26%2.33%
FXC
Invesco CurrencyShares® Canadian Dollar Trust		0.26%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

FXC and DIA have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DIA has higher volatility (2.95%) compared to FXC (0.69%). In terms of maximum drawdown, FXC dropped -35.39% vs DIA's -51.87%.

On 10-year performance, DIA leads with 13.34% vs -0.15% for FXC. On fees, DIA is cheaper at 0.16% per year. On volatility, FXC has been the lower-risk option at 0.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DIA has performed better with a 13.34% return vs -0.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DIA is cheaper with a 0.16% expense ratio, compared with 0.40% for FXC.

DIA has the higher dividend yield at 1.36%, compared with 0.26% for FXC.

FXC is categorized as Currency, while DIA is Large Cap Blend Equities. FXC tracks Canadian Dollar, while DIA tracks Dow Jones Industrial Average. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.40% for FXC and 0.16% for DIA.

DIA currently has the higher Sharpe Ratio (1.93 vs -0.18), 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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