FXC vs. KCSH
FXC (Invesco CurrencyShares® Canadian Dollar Trust) and KCSH (KraneShares Sustainable Ultra Short Duration Index ETF) are both exchange-traded funds - FXC is a Currency fund tracking the Canadian Dollar, while KCSH is a Ultrashort Bond fund tracking the Solactive ISS Sustainable Select 0-1 Year USD Corporate IG Index. Both are passively managed. Over the past year, FXC returned -3.10% vs 4.00% for KCSH. At a correlation of -0.03, they often move in opposite directions. FXC charges 0.40%/yr vs 0.20%/yr for KCSH.
Performance
FXC vs. KCSH - 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 KCSH's 1.69% 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%
KCSH
- 1D
- 0.02%
- 1M
- 0.32%
- YTD
- 1.69%
- 6M
- 1.81%
- 1Y
- 4.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FXC vs. KCSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FXC Invesco CurrencyShares® Canadian Dollar Trust | -3.29% | 5.24% | -3.26% |
KCSH KraneShares Sustainable Ultra Short Duration Index ETF | 1.69% | 4.49% | 1.98% |
Correlation
The correlation between FXC and KCSH is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2024 | -0.03 |
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Return for Risk
FXC vs. KCSH — Risk / Return Rank
FXC
KCSH
FXC vs. KCSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Canadian Dollar Trust (FXC) and KraneShares Sustainable Ultra Short Duration Index ETF (KCSH). 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 | KCSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.91 | ||
| Sortino ratioReturn per unit of downside risk | -5.53 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 2.09 | -1.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.62 | 6.89 | -7.52 |
| Martin ratioReturn relative to average drawdown | -1.44 | 57.89 | -59.33 |
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Drawdowns
FXC vs. KCSH - Drawdown Comparison
The maximum FXC drawdown since its inception was -35.39%, which is greater than KCSH's maximum drawdown of -0.58%. Use the drawdown chart below to compare losses from any high point for FXC and KCSH.
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Drawdown Indicators
| FXC | KCSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.39% | -0.58% | -34.81% |
Max Drawdown (1Y)Largest decline over 1 year | -4.99% | -0.58% | -4.41% |
Max Drawdown (3Y)Largest decline over 3 years | -7.34% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -11.93% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.46% | — | — |
Current DrawdownCurrent decline from peak | -30.39% | -0.00% | -30.39% |
Average DrawdownAverage peak-to-trough decline | -19.94% | -0.03% | -19.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 0.07% | +2.09% |
Volatility
FXC vs. KCSH - Volatility Comparison
Invesco CurrencyShares® Canadian Dollar Trust (FXC) has a higher volatility of 1.10% compared to KraneShares Sustainable Ultra Short Duration Index ETF (KCSH) at 0.20%. This indicates that FXC's price experiences larger fluctuations and is considered to be riskier than KCSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXC | KCSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.20% | +0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 3.26% | 0.46% | +2.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.50% | 1.25% | +3.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.35% | 1.31% | +5.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.62% | 1.31% | +5.31% |
FXC vs. KCSH - Expense Ratio Comparison
FXC has a 0.40% expense ratio, which is higher than KCSH's 0.20% expense ratio.
Dividends
FXC vs. KCSH - Dividend Comparison
FXC's dividend yield for the trailing twelve months is around 0.27%, less than KCSH's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
KCSH KraneShares Sustainable Ultra Short Duration Index ETF | 3.96% | 4.35% | 2.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FXC and KCSH have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXC has higher volatility (1.10%) compared to KCSH (0.20%). In terms of maximum drawdown, FXC dropped -35.39% vs KCSH's -0.58%.
On 1-year performance, KCSH leads with 4.00% vs -3.10% for FXC. On fees, KCSH is cheaper at 0.20% per year. On volatility, KCSH has been the lower-risk option at 0.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KCSH has performed better with a 4.00% return vs -3.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KCSH is cheaper with a 0.20% expense ratio, compared with 0.40% for FXC.
KCSH has the higher dividend yield at 3.96%, compared with 0.27% for FXC.
FXC is categorized as Currency, while KCSH is Ultrashort Bond. FXC tracks Canadian Dollar, while KCSH tracks Solactive ISS Sustainable Select 0-1 Year USD Corporate IG Index. They also come from different issuers: Invesco and KraneShares. Their fees differ too: 0.40% for FXC and 0.20% for KCSH.
KCSH currently has the higher Sharpe Ratio (3.21 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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