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FXC vs. FXY
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FXC vs. FXY

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco CurrencyShares® Canadian Dollar Trust (FXC) and Invesco CurrencyShares® Japanese Yen Trust (FXY).

FXC and FXY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FXC is a passively managed fund by Invesco that tracks the performance of the Canadian Dollar. It was launched on Jun 26, 2006. FXY is a passively managed fund by Invesco that tracks the performance of the Japanese Yen. It was launched on Feb 12, 2007. Both FXC and FXY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FXC vs. FXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco CurrencyShares® Canadian Dollar Trust (FXC) and Invesco CurrencyShares® Japanese Yen Trust (FXY). The values are adjusted to include any dividend payments, if applicable.

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FXC vs. FXY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FXC
Invesco CurrencyShares® Canadian Dollar Trust		-1.29%5.24%-5.96%4.35%-6.44%0.22%1.92%5.94%-7.54%6.72%
FXY
Invesco CurrencyShares® Japanese Yen Trust		-1.35%0.09%-10.93%-7.44%-12.75%-10.90%4.61%0.37%2.31%3.17%

Returns By Period

The year-to-date returns for both stocks are quite close, with FXC having a -1.29% return and FXY slightly lower at -1.35%. Over the past 10 years, FXC has outperformed FXY with an annualized return of -0.16%, while FXY has yielded a comparatively lower -3.96% annualized return.

FXC

1D
0.04%
1M
-1.92%
YTD
-1.29%
6M
0.06%
1Y
3.69%
3Y*
0.42%
5Y*
-1.15%
10Y*
-0.16%

FXY

1D
0.64%
1M
-1.61%
YTD
-1.35%
6M
-6.96%
1Y
-5.89%
3Y*
-6.20%
5Y*
-7.45%
10Y*
-3.96%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco CurrencyShares® Canadian Dollar Trust

Invesco CurrencyShares® Japanese Yen Trust

Often compared with FXC:
FXC vs. FXEFXC vs. QQQFXC vs. USOFXC vs. TLTFXC vs. FXBFXC vs. XLKFXC vs. GLD
Often compared with FXY:
FXY vs. YCLFXY vs. SPYFXY vs. FXEFXY vs. EWJFXY vs. DXJSFXY vs. QQQFXY vs. SCHD

FXC vs. FXY - Expense Ratio Comparison

Both FXC and FXY have an expense ratio of 0.40%.

FXC
Invesco CurrencyShares® Canadian Dollar Trust
FXY
Invesco CurrencyShares® Japanese Yen Trust

Return for Risk

FXC vs. FXY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FXC
FXC Risk / Return Rank: 3333
Overall Rank
FXC Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
FXC Sortino Ratio Rank: 4040
Sortino Ratio Rank
FXC Omega Ratio Rank: 3232
Omega Ratio Rank
FXC Calmar Ratio Rank: 3434
Calmar Ratio Rank
FXC Martin Ratio Rank: 2424
Martin Ratio Rank
FXY
FXY Risk / Return Rank: 44
Overall Rank
FXY Sharpe Ratio Rank: 33
Sharpe Ratio Rank
FXY Sortino Ratio Rank: 33
Sortino Ratio Rank
FXY Omega Ratio Rank: 33
Omega Ratio Rank
FXY Calmar Ratio Rank: 44
Calmar Ratio Rank
FXY Martin Ratio Rank: 66
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. FXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Canadian Dollar Trust (FXC) and Invesco CurrencyShares® Japanese Yen Trust (FXY). 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.

FXCFXYDifference

Sharpe ratio

Return per unit of total volatility

0.68

-0.58

+1.26

Sortino ratio

Return per unit of downside risk

1.12

-0.78

+1.89

Omega ratio

Gain probability vs. loss probability

1.13

0.91

+0.22

Calmar ratio

Return relative to maximum drawdown

0.84

-0.48

+1.32

Martin ratio

Return relative to average drawdown

1.72

-0.80

+2.53

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. FXY - Sharpe Ratio Comparison

The current FXC Sharpe Ratio is 0.68, which is higher than the FXY Sharpe Ratio of -0.58. The chart below compares the historical Sharpe Ratios of FXC and FXY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FXCFXYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.68

-0.58

+1.26

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.18

-0.73

+0.55

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.02

-0.42

+0.39

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.05

-0.18

+0.13

Correlation

The correlation between FXC and FXY is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FXC vs. FXY - Dividend Comparison

FXC's dividend yield for the trailing twelve months is around 0.37%, while FXY has not paid dividends to shareholders.

TTM20252024202320222021202020192018201720162015
FXC
Invesco CurrencyShares® Canadian Dollar Trust		0.37%0.55%2.23%2.01%0.31%0.00%0.19%0.75%0.42%0.02%0.00%0.02%
FXY
Invesco CurrencyShares® Japanese Yen Trust		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

FXC vs. FXY - Drawdown Comparison

The maximum FXC drawdown since its inception was -35.39%, smaller than the maximum FXY drawdown of -56.03%. Use the drawdown chart below to compare losses from any high point for FXC and FXY.

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Drawdown Indicators

FXCFXYDifference

Max Drawdown

Largest peak-to-trough decline

-35.39%

-56.03%

+20.64%

Max Drawdown (1Y)

Largest decline over 1 year

-3.78%

-12.45%

+8.67%

Max Drawdown (5Y)

Largest decline over 5 years

-13.86%

-34.49%

+20.63%

Max Drawdown (10Y)

Largest decline over 10 years

-15.46%

-40.84%

+25.38%

Current Drawdown

Current decline from peak

-28.96%

-55.51%

+26.55%

Average Drawdown

Average peak-to-trough decline

-19.84%

-27.48%

+7.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.83%

7.46%

-5.63%

Volatility

FXC vs. FXY - Volatility Comparison

The current volatility for Invesco CurrencyShares® Canadian Dollar Trust (FXC) is 1.29%, while Invesco CurrencyShares® Japanese Yen Trust (FXY) has a volatility of 2.33%. This indicates that FXC experiences smaller price fluctuations and is considered to be less risky than FXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FXCFXYDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.29%

2.33%

-1.04%

Volatility (6M)

Calculated over the trailing 6-month period

3.31%

6.09%

-2.78%

Volatility (1Y)

Calculated over the trailing 1-year period

5.47%

10.25%

-4.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.43%

10.20%

-3.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.76%

9.47%

-2.71%