FXC vs. XMMO
FXC (Invesco CurrencyShares® Canadian Dollar Trust) and XMMO (Invesco S&P MidCap Momentum ETF) are both exchange-traded funds - FXC is a Currency fund tracking the Canadian Dollar, while XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index. Both are passively managed. Over the past 10 years, FXC returned -0.37%/yr vs 20.13%/yr for XMMO. At a 0.39 correlation, their price movements are largely independent. FXC charges 0.40%/yr vs 0.35%/yr for XMMO.
Performance
FXC vs. XMMO - 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 XMMO's 22.90% return. Over the past 10 years, FXC has underperformed XMMO with an annualized return of -0.37%, while XMMO has yielded a comparatively higher 20.13% 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%
XMMO
- 1D
- -2.42%
- 1M
- 3.07%
- YTD
- 22.90%
- 6M
- 20.25%
- 1Y
- 35.75%
- 3Y*
- 31.04%
- 5Y*
- 15.91%
- 10Y*
- 20.13%
FXC vs. XMMO - 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% |
XMMO Invesco S&P MidCap Momentum ETF | 22.90% | 13.04% | 38.03% | 20.39% | -16.02% | 16.69% | 29.17% | 36.78% | 6.12% | 37.18% |
Correlation
The correlation between FXC and XMMO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2006 | 0.39 |
Over the past year, the correlation between FXC and XMMO has dropped to 0.13 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.
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Return for Risk
FXC vs. XMMO — Risk / Return Rank
FXC
XMMO
FXC vs. XMMO - 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 MidCap Momentum ETF (XMMO). 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 | XMMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.50 | ||
| Sortino ratioReturn per unit of downside risk | -3.48 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.32 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.62 | 4.31 | -4.93 |
| Martin ratioReturn relative to average drawdown | -1.44 | 17.07 | -18.51 |
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Drawdowns
FXC vs. XMMO - Drawdown Comparison
The maximum FXC drawdown since its inception was -35.39%, smaller than the maximum XMMO drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for FXC and XMMO.
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Drawdown Indicators
| FXC | XMMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.39% | -55.37% | +19.98% |
Max Drawdown (1Y)Largest decline over 1 year | -4.99% | -8.34% | +3.35% |
Max Drawdown (3Y)Largest decline over 3 years | -7.34% | -24.93% | +17.59% |
Max Drawdown (5Y)Largest decline over 5 years | -11.93% | -27.91% | +15.98% |
Max Drawdown (10Y)Largest decline over 10 years | -15.46% | -36.74% | +21.28% |
Current DrawdownCurrent decline from peak | -30.39% | -2.42% | -27.97% |
Average DrawdownAverage peak-to-trough decline | -19.94% | -9.43% | -10.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 2.10% | +0.06% |
Volatility
FXC vs. XMMO - Volatility Comparison
The current volatility for Invesco CurrencyShares® Canadian Dollar Trust (FXC) is 1.10%, while Invesco S&P MidCap Momentum ETF (XMMO) has a volatility of 8.50%. This indicates that FXC experiences smaller price fluctuations and is considered to be less risky than XMMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXC | XMMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 8.50% | -7.40% |
Volatility (6M)Calculated over the trailing 6-month period | 3.26% | 16.79% | -13.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.50% | 19.94% | -15.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.35% | 21.65% | -15.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.62% | 22.33% | -15.71% |
FXC vs. XMMO - Expense Ratio Comparison
FXC has a 0.40% expense ratio, which is higher than XMMO's 0.35% expense ratio.
Dividends
FXC vs. XMMO - Dividend Comparison
FXC's dividend yield for the trailing twelve months is around 0.27%, less than XMMO's 0.57% 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% |
XMMO Invesco S&P MidCap Momentum ETF | 0.57% | 0.78% | 0.34% | 0.80% | 1.43% | 0.41% | 0.61% | 0.60% | 0.19% | 0.21% | 0.22% | 0.64% |
Frequently Asked Questions
FXC and XMMO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XMMO has higher volatility (8.50%) compared to FXC (1.10%). In terms of maximum drawdown, FXC dropped -35.39% vs XMMO's -55.37%.
On 10-year performance, XMMO leads with 20.13% vs -0.37% for FXC. On fees, XMMO is cheaper at 0.35% per year. 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, XMMO has performed better with a 20.13% return vs -0.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XMMO is cheaper with a 0.35% expense ratio, compared with 0.40% for FXC.
XMMO has the higher dividend yield at 0.57%, compared with 0.27% for FXC.
FXC is categorized as Currency, while XMMO is Momentum. FXC tracks Canadian Dollar, while XMMO tracks S&P MidCap 400 Momentum Index. Their fees differ too: 0.40% for FXC and 0.35% for XMMO.
XMMO currently has the higher Sharpe Ratio (1.80 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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