FXC vs. SPMO
FXC (Invesco CurrencyShares® Canadian Dollar Trust) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - FXC is a Currency fund tracking the Canadian Dollar, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, FXC returned -0.15%/yr vs 20.89%/yr for SPMO. At a 0.31 correlation, their price movements are largely independent. FXC charges 0.40%/yr vs 0.13%/yr for SPMO.
Performance
FXC vs. SPMO - Performance Comparison
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Returns By Period
In the year-to-date period, FXC achieves a -0.74% return, which is significantly lower than SPMO's 29.70% return. Over the past 10 years, FXC has underperformed SPMO with an annualized return of -0.15%, while SPMO has yielded a comparatively higher 20.89% 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%
SPMO
- 1D
- 1.31%
- 1M
- 14.80%
- YTD
- 29.70%
- 6M
- 30.19%
- 1Y
- 46.28%
- 3Y*
- 42.80%
- 5Y*
- 24.51%
- 10Y*
- 20.89%
FXC vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPMO Invesco S&P 500 Momentum ETF | 29.70% | 26.58% | 45.82% | 17.56% | -10.45% | 22.64% | 28.25% | 25.93% | -0.92% | 27.76% |
Correlation
The correlation between FXC and SPMO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2015 | 0.31 |
The correlation between FXC and SPMO shifts across timeframes, from 0.22 (1 year) to 0.39 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FXC vs. SPMO — Risk / Return Rank
FXC
SPMO
FXC vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Canadian Dollar Trust (FXC) and Invesco S&P 500 Momentum ETF (SPMO). 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.
| FXC | SPMO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.18 | 2.64 | -2.82 |
Sortino ratioReturn per unit of downside risk | -0.24 | 3.55 | -3.79 |
Omega ratioGain probability vs. loss probability | 0.97 | 1.47 | -0.50 |
Calmar ratioReturn relative to maximum drawdown | -0.16 | 3.76 | -3.93 |
Martin ratioReturn relative to average drawdown | -0.32 | 14.67 | -14.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FXC | SPMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.18 | 2.64 | -2.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | 1.28 | -1.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.02 | 1.03 | -1.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.05 | 1.01 | -1.06 |
Drawdowns
FXC vs. SPMO - Drawdown Comparison
The maximum FXC drawdown since its inception was -35.39%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for FXC and SPMO.
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Drawdown Indicators
| FXC | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.39% | -30.95% | -4.44% |
Max Drawdown (1Y)Largest decline over 1 year | -3.78% | -12.70% | +8.92% |
Max Drawdown (3Y)Largest decline over 3 years | -7.34% | -20.13% | +12.79% |
Max Drawdown (5Y)Largest decline over 5 years | -13.53% | -22.74% | +9.21% |
Max Drawdown (10Y)Largest decline over 10 years | -15.46% | -30.95% | +15.49% |
Current DrawdownCurrent decline from peak | -28.56% | 0.00% | -28.56% |
Average DrawdownAverage peak-to-trough decline | -19.91% | -4.60% | -15.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 3.26% | -1.28% |
Volatility
FXC vs. SPMO - Volatility Comparison
The current volatility for Invesco CurrencyShares® Canadian Dollar Trust (FXC) is 0.69%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 7.38%. This indicates that FXC experiences smaller price fluctuations and is considered to be less risky than SPMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXC | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 7.38% | -6.69% |
Volatility (6M)Calculated over the trailing 6-month period | 3.25% | 14.44% | -11.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.49% | 17.65% | -13.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.37% | 19.31% | -12.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.66% | 20.31% | -13.65% |
FXC vs. SPMO - Expense Ratio Comparison
FXC has a 0.40% expense ratio, which is higher than SPMO's 0.13% expense ratio.
Dividends
FXC vs. SPMO - Dividend Comparison
FXC's dividend yield for the trailing twelve months is around 0.26%, less than SPMO's 0.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPMO Invesco S&P 500 Momentum ETF | 0.66% | 0.73% | 0.48% | 1.63% | 1.66% | 0.52% | 1.27% | 1.39% | 1.05% | 0.77% | 1.94% | 0.36% |
Frequently Asked Questions
FXC and SPMO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMO has higher volatility (7.38%) compared to FXC (0.69%). In terms of maximum drawdown, FXC dropped -35.39% vs SPMO's -30.95%.
On 10-year performance, SPMO leads with 20.89% vs -0.15% for FXC. On fees, SPMO is cheaper at 0.13% 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, SPMO has performed better with a 20.89% return vs -0.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPMO is cheaper with a 0.13% expense ratio, compared with 0.40% for FXC.
SPMO has the higher dividend yield at 0.66%, compared with 0.26% for FXC.
FXC is categorized as Currency, while SPMO is Momentum. FXC tracks Canadian Dollar, while SPMO tracks S&P 500 Momentum Index. Their fees differ too: 0.40% for FXC and 0.13% for SPMO.
SPMO currently has the higher Sharpe Ratio (2.64 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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