FXE vs. ^DXY
FXE (Invesco CurrencyShares® Euro Currency Trust) is Currency fund tracking the Euro, while ^DXY (US Dollar Currency Index) is an index. At a correlation of -0.92, they often move in opposite directions.
Performance
FXE vs. ^DXY - Performance Comparison
Loading charts...
Returns By Period
FXE
- 1D
- 0.04%
- 1M
- -0.35%
- 6M
- -0.97%
- YTD
- -2.20%
- 1Y
- -0.59%
- 3Y*
- 2.14%
- 5Y*
- 0.17%
- 10Y*
- 0.35%
^DXY
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FXE vs. ^DXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXE Invesco CurrencyShares® Euro Currency Trust | -2.20% | 14.52% | -4.18% | 4.87% | -6.57% | -7.83% | 7.94% | -2.90% | -5.30% | 13.05% |
^DXY US Dollar Currency Index | 1.13% | -9.37% | 7.06% | -2.11% | 7.87% | 6.71% | -6.69% | 0.22% | 4.40% | -9.87% |
Correlation
The correlation between FXE and ^DXY is -0.88, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.93 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2005 | -0.92 |
The correlation between FXE and ^DXY has been stable across timeframes, ranging from -0.93 to -0.88 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FXE vs. ^DXY — Risk / Return Rank
FXE
^DXY
FXE vs. ^DXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Euro Currency Trust (FXE) and US Dollar Currency Index (^DXY). 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.
| FXE | ^DXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.99 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | — | — |
| Martin ratioReturn relative to average drawdown | -0.23 | — | — |
Loading charts...
Drawdowns
FXE vs. ^DXY - Drawdown Comparison
Loading charts...
Drawdown Indicators
| FXE | ^DXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.33% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -5.40% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -8.12% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -20.21% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -26.46% | — | — |
Current DrawdownCurrent decline from peak | -28.87% | — | — |
Average DrawdownAverage peak-to-trough decline | -22.34% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | — | — |
Volatility
FXE vs. ^DXY - Volatility Comparison
Loading charts...
Volatility by Period
| FXE | ^DXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 4.47% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.17% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.65% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.26% | — | — |
Frequently Asked Questions
FXE and ^DXY have a correlation of -0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for FXE and ^DXY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer