FXC vs. SBIT
FXC (Invesco CurrencyShares® Canadian Dollar Trust) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - FXC is a Currency fund tracking the Canadian Dollar, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, FXC returned -1.43% vs 98.77% for SBIT. Their -0.17 correlation means they have often moved in opposite directions in the past. FXC charges 0.40%/yr vs 0.95%/yr for SBIT.
Performance
FXC vs. SBIT - Performance Comparison
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Returns By Period
In the year-to-date period, FXC achieves a -1.96% return, which is significantly lower than SBIT's 39.44% return.
FXC
- 1D
- 0.06%
- 1M
- 1.05%
- 6M
- -2.81%
- YTD
- -1.96%
- 1Y
- -1.43%
- 3Y*
- -0.59%
- 5Y*
- -1.37%
- 10Y*
- -0.15%
- ALL TIME*
- -0.50%
SBIT
- 1D
- 5.60%
- 1M
- -6.04%
- 6M
- 32.41%
- YTD
- 39.44%
- 1Y
- 98.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -42.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.79M | $2.89M | $1.65M | |
| $29.57M | $32.71M | $46.48M |
FXC vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FXC Invesco CurrencyShares® Canadian Dollar Trust | -1.96% | 5.24% | -4.29% |
SBIT Proshares Ultrashort Bitcoin ETF | 39.44% | -25.11% | -73.74% |
Correlation
The correlation between FXC and SBIT is -0.18, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.18 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.17 |
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Return for Risk
FXC vs. SBIT — Risk / Return Rank
FXC
SBIT
FXC vs. SBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Canadian Dollar Trust (FXC) and Proshares Ultrashort Bitcoin ETF (SBIT). 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 | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.51 | ||
| Sortino ratioReturn per unit of downside risk | -2.27 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.23 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 2.35 | -2.55 |
| Martin ratioReturn relative to average drawdown | -0.46 | 5.19 | -5.65 |
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Drawdowns
FXC vs. SBIT - Drawdown Comparison
The maximum FXC drawdown since its inception was -35.39%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for FXC and SBIT.
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Drawdown Indicators
| FXC | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.39% | -91.35% | +55.96% |
Max Drawdown (1Y)Largest decline over 1 year | -5.14% | -47.94% | +42.80% |
Max Drawdown (3Y)Largest decline over 3 years | -7.34% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -11.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.46% | — | — |
Current DrawdownCurrent decline from peak | -29.44% | -77.87% | +48.43% |
Average DrawdownAverage peak-to-trough decline | -19.99% | -69.07% | +49.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 21.67% | -19.47% |
Volatility
FXC vs. SBIT - Volatility Comparison
The current volatility for Invesco CurrencyShares® Canadian Dollar Trust (FXC) is 1.13%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that FXC experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXC | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 18.09% | -16.96% |
Volatility (6M)Calculated over the trailing 6-month period | 2.97% | 67.10% | -64.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.31% | 88.65% | -84.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.25% | 96.10% | -89.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.59% | 96.10% | -89.51% |
FXC vs. SBIT - Expense Ratio Comparison
FXC has a 0.40% expense ratio, which is lower than SBIT's 0.95% expense ratio.
Dividends
FXC vs. SBIT - Dividend Comparison
FXC's dividend yield for the trailing twelve months is around 0.23%, less than SBIT's 4.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXC Invesco CurrencyShares® Canadian Dollar Trust | 0.19% | 0.55% | 2.23% | 2.01% | 0.31% | 0.00% | 0.19% | 0.75% | 0.42% | 0.02% | 0.00% | 0.02% |
SBIT Proshares Ultrashort Bitcoin ETF | 4.03% | 0.52% | 1.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FXC and SBIT have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBIT has higher volatility (18.09%) compared to FXC (1.13%). In terms of maximum drawdown, FXC dropped -35.39% vs SBIT's -91.35%.
On 1-year performance, SBIT leads with 98.77% vs -1.43% for FXC. On fees, FXC is cheaper at 0.40% per year. On volatility, FXC has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SBIT has performed better with a 98.77% return vs -1.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXC is cheaper with a 0.40% expense ratio, compared with 0.95% for SBIT.
SBIT has the higher dividend yield at 4.03%, compared with 0.19% for FXC.
FXC is categorized as Currency, while SBIT is Cryptocurrency. FXC tracks Canadian Dollar, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.40% for FXC and 0.95% for SBIT.
SBIT currently has the higher Sharpe Ratio (1.27 vs -0.24), 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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