FXE vs. AGG
FXE (Invesco CurrencyShares® Euro Currency Trust) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - FXE is a Currency fund tracking the Euro, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Both are passively managed. Over the past 10 years, FXE returned 0.15%/yr vs 1.57%/yr for AGG. At a 0.14 correlation, their price movements are largely independent. FXE charges 0.40%/yr vs 0.03%/yr for AGG.
Performance
FXE vs. AGG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FXE achieves a -1.03% return, which is significantly lower than AGG's 0.25% return. Over the past 10 years, FXE has underperformed AGG with an annualized return of 0.15%, while AGG has yielded a comparatively higher 1.57% annualized return.
FXE
- 1D
- -0.29%
- 1M
- -0.82%
- YTD
- -1.03%
- 6M
- -0.26%
- 1Y
- 2.68%
- 3Y*
- 4.26%
- 5Y*
- -0.23%
- 10Y*
- 0.15%
AGG
- 1D
- -0.21%
- 1M
- 0.24%
- YTD
- 0.25%
- 6M
- 0.09%
- 1Y
- 5.14%
- 3Y*
- 3.95%
- 5Y*
- 0.10%
- 10Y*
- 1.57%
FXE vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXE Invesco CurrencyShares® Euro Currency Trust | -1.03% | 14.52% | -4.18% | 4.87% | -6.57% | -7.83% | 7.94% | -2.90% | -5.30% | 13.05% |
AGG iShares Core U.S. Aggregate Bond ETF | 0.25% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 0.09% | 3.55% |
Correlation
The correlation between FXE and AGG is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2005 | 0.14 |
Over the past year, FXE and AGG have become more correlated (0.43) than their long-term average of 0.14, meaning their price movements have been converging.
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. AGG — Risk / Return Rank
FXE
AGG
FXE vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Euro Currency Trust (FXE) and iShares Core U.S. Aggregate Bond ETF (AGG). 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.
| FXE | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.24 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.54 | 1.87 | -1.33 |
| Martin ratioReturn relative to average drawdown | 1.28 | 5.73 | -4.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| FXE | AGG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.43 | 1.34 | -0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | 0.02 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.02 | 0.29 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | 0.59 | -0.58 |
Drawdowns
FXE vs. AGG - Drawdown Comparison
The maximum FXE drawdown since its inception was -43.33%, which is greater than AGG's maximum drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for FXE and AGG.
Loading charts...
Drawdown Indicators
| FXE | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.33% | -18.43% | -24.90% |
Max Drawdown (1Y)Largest decline over 1 year | -5.02% | -2.76% | -2.26% |
Max Drawdown (3Y)Largest decline over 3 years | -8.12% | -6.11% | -2.01% |
Max Drawdown (5Y)Largest decline over 5 years | -22.32% | -17.82% | -4.50% |
Max Drawdown (10Y)Largest decline over 10 years | -26.46% | -18.43% | -8.03% |
Current DrawdownCurrent decline from peak | -28.01% | -2.14% | -25.87% |
Average DrawdownAverage peak-to-trough decline | -22.31% | -2.71% | -19.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 0.90% | +1.19% |
Volatility
FXE vs. AGG - Volatility Comparison
The current volatility for Invesco CurrencyShares® Euro Currency Trust (FXE) is 1.21%, while iShares Core U.S. Aggregate Bond ETF (AGG) has a volatility of 1.30%. This indicates that FXE experiences smaller price fluctuations and is considered to be less risky than AGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FXE | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 1.30% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 4.24% | 2.74% | +1.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.24% | 3.85% | +2.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.66% | 6.09% | +1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.32% | 5.40% | +1.92% |
FXE vs. AGG - Expense Ratio Comparison
FXE has a 0.40% expense ratio, which is higher than AGG's 0.03% expense ratio.
Dividends
FXE vs. AGG - Dividend Comparison
FXE's dividend yield for the trailing twelve months is around 0.73%, less than AGG's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 3.99% | 3.89% | 3.74% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.72% | 2.32% | 2.39% | 2.45% |
FXE Invesco CurrencyShares® Euro Currency Trust | 0.73% | 0.94% | 2.28% | 1.49% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FXE and AGG have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGG has higher volatility (1.30%) compared to FXE (1.21%). In terms of maximum drawdown, FXE dropped -43.33% vs AGG's -18.43%.
On 10-year performance, AGG leads with 1.57% vs 0.15% for FXE. On fees, AGG is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, AGG has performed better with a 1.57% return vs 0.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGG is cheaper with a 0.03% expense ratio, compared with 0.40% for FXE.
AGG has the higher dividend yield at 3.99%, compared with 0.73% for FXE.
FXE is categorized as Currency, while AGG is Total Bond Market. FXE tracks Euro, while AGG tracks Bloomberg U.S. Aggregate Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.40% for FXE and 0.03% for AGG.
AGG currently has the higher Sharpe Ratio (1.34 vs 0.43), 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.
Find the right allocation for FXE and AGG
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