FXC vs. FXB
FXC (Invesco CurrencyShares® Canadian Dollar Trust) and FXB (Invesco CurrencyShares® British Pound Sterling Trust) are both Currency funds from Invesco - FXC tracks the Canadian Dollar while FXB tracks the British Pound. Both are passively managed. Over the past 10 years, FXC returned -0.37%/yr vs 0.48%/yr for FXB. At a 0.46 correlation, their price movements are largely independent. Both charge a 0.40% expense ratio.
Performance
FXC vs. FXB - Performance Comparison
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Returns By Period
In the year-to-date period, FXC achieves a -3.29% return, which is significantly lower than FXB's -1.17% return. Over the past 10 years, FXC has underperformed FXB with an annualized return of -0.37%, while FXB has yielded a comparatively higher 0.48% annualized return.
FXC
- 1D
- -0.39%
- 1M
- -2.71%
- YTD
- -3.29%
- 6M
- -3.54%
- 1Y
- -3.10%
- 3Y*
- -1.21%
- 5Y*
- -1.89%
- 10Y*
- -0.37%
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%
FXC vs. FXB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXC Invesco CurrencyShares® Canadian Dollar Trust | -3.29% | 5.24% | -5.96% | 4.35% | -6.44% | 0.22% | 1.92% | 5.94% | -7.54% | 6.72% |
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% |
Correlation
The correlation between FXC and FXB is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2006 | 0.46 |
The correlation between FXC and FXB 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
FXC vs. FXB — Risk / Return Rank
FXC
FXB
FXC vs. FXB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Canadian Dollar Trust (FXC) and Invesco CurrencyShares® British Pound Sterling Trust (FXB). 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.
| FXC | FXB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.00 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.62 | -0.07 | -0.55 |
| Martin ratioReturn relative to average drawdown | -1.44 | -0.15 | -1.30 |
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Drawdowns
FXC vs. FXB - Drawdown Comparison
The maximum FXC drawdown since its inception was -35.39%, smaller than the maximum FXB drawdown of -48.99%. Use the drawdown chart below to compare losses from any high point for FXC and FXB.
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Drawdown Indicators
| FXC | FXB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.39% | -48.99% | +13.60% |
Max Drawdown (1Y)Largest decline over 1 year | -4.99% | -4.53% | -0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -7.34% | -8.44% | +1.10% |
Max Drawdown (5Y)Largest decline over 5 years | -11.93% | -23.61% | +11.68% |
Max Drawdown (10Y)Largest decline over 10 years | -15.46% | -26.11% | +10.65% |
Current DrawdownCurrent decline from peak | -30.39% | -30.64% | +0.25% |
Average DrawdownAverage peak-to-trough decline | -19.94% | -27.54% | +7.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 2.25% | -0.09% |
Volatility
FXC vs. FXB - Volatility Comparison
The current volatility for Invesco CurrencyShares® Canadian Dollar Trust (FXC) is 1.10%, while Invesco CurrencyShares® British Pound Sterling Trust (FXB) has a volatility of 1.62%. This indicates that FXC experiences smaller price fluctuations and is considered to be less risky than FXB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXC | FXB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 1.62% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 3.26% | 4.90% | -1.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.50% | 6.57% | -2.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.35% | 8.48% | -2.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.62% | 8.87% | -2.25% |
FXC vs. FXB - Expense Ratio Comparison
Both FXC and FXB have an expense ratio of 0.40%.
Dividends
FXC vs. FXB - Dividend Comparison
FXC's dividend yield for the trailing twelve months is around 0.27%, less than FXB's 2.24% 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% |
FXC Invesco CurrencyShares® Canadian Dollar Trust | 0.27% | 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 FXB have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXB has higher volatility (1.62%) compared to FXC (1.10%). In terms of maximum drawdown, FXC dropped -35.39% vs FXB's -48.99%.
On 10-year performance, FXB leads with 0.48% vs -0.37% for FXC. Both ETFs have the same 0.40% expense ratio. On volatility, FXC has been the lower-risk option at 1.10%. 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 0.48% return vs -0.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXC and FXB have the same expense ratio: 0.40% per year.
FXB has the higher dividend yield at 2.24%, compared with 0.27% for FXC.
FXC tracks Canadian Dollar, while FXB tracks British Pound.
FXB currently has the higher Sharpe Ratio (-0.05 vs -0.69), 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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