FXE vs. EUSC

Last updated Jun 25, 2026

FXE (Invesco CurrencyShares® Euro Currency Trust) and EUSC (WisdomTree Europe Hedged SmallCap Equity Fund) are both exchange-traded funds - FXE is a Currency fund tracking the Euro, while EUSC is a Europe Equities fund tracking the WisdomTree Europe Hedged SmallCap Equity Index. Both are passively managed. At a 0.22 correlation, their price movements are largely independent. FXE charges 0.40%/yr vs 0.58%/yr for EUSC.

Performance

FXE vs. EUSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco CurrencyShares® Euro Currency Trust (FXE) and WisdomTree Europe Hedged SmallCap Equity Fund (EUSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FXE

• 1D: -0.25%
• 1M: -2.12%
• YTD: -3.05%
• 6M: -3.24%
• 1Y: -1.56%
• 3Y*: 2.92%
• 5Y*: -0.24%
• 10Y*: 0.20%

EUSC

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FXE vs. EUSC - Yearly Performance Comparison

	2026 (YTD)
FXE Invesco CurrencyShares® Euro Currency Trust	-2.31%
EUSC WisdomTree Europe Hedged SmallCap Equity Fund	0.18%

Correlation

The correlation between FXE and EUSC is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.22

Return for Risk

FXE vs. EUSC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FXE

FXE Risk / Return Rank: 6
FXE Sharpe Ratio Rank: 7
FXE Sortino Ratio Rank: 6
FXE Omega Ratio Rank: 6
FXE Calmar Ratio Rank: 6
FXE Martin Ratio Rank: 6

EUSC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FXE vs. EUSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Euro Currency Trust (FXE) and WisdomTree Europe Hedged SmallCap Equity Fund (EUSC). 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	EUSC	Difference
Sharpe ratio: Return per unit of total volatility	-0.25	—	—
Sortino ratio: Return per unit of downside risk	-0.32	—	—
Omega ratio: Gain probability vs. loss probability	0.96	—	—
Calmar ratio: Return relative to maximum drawdown	-0.29	—	—
Martin ratio: Return relative to average drawdown	-0.68	—	—

Drawdowns

FXE vs. EUSC - Drawdown Comparison

The maximum FXE drawdown since its inception was -43.33%, which is greater than EUSC's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FXE and EUSC.

Drawdown Indicators

	FXE	EUSC	Difference
Max Drawdown Largest peak-to-trough decline	-43.33%	0.00%	-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	-20.61%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-26.46%	—	—
Current Drawdown Current decline from peak	-29.48%	0.00%	-29.48%
Average Drawdown Average peak-to-trough decline	-22.32%	0.00%	-22.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	—	—

Volatility

Volatility by Period

	FXE	EUSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.56%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.22%	1.10%	+5.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.66%	1.10%	+6.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.26%	1.10%	+6.16%

FXE vs. EUSC - Expense Ratio Comparison

FXE has a 0.40% expense ratio, which is lower than EUSC's 0.58% expense ratio.

Dividends

FXE vs. EUSC - Dividend Comparison

FXE's dividend yield for the trailing twelve months is around 0.75%, while EUSC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
EUSC WisdomTree Europe Hedged SmallCap Equity Fund	0.00%	0.00%	0.00%	0.00%	0.00%
FXE Invesco CurrencyShares® Euro Currency Trust	0.75%	0.94%	2.28%	1.49%	0.01%

Frequently Asked Questions

Can I hold both FXE and EUSC in my portfolio?

FXE and EUSC 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.

Which ETF is better, FXE or EUSC?

On fees, FXE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FXE or EUSC?

FXE is cheaper with a 0.40% expense ratio, compared with 0.58% for EUSC.

Which ETF pays a higher dividend yield, FXE or EUSC?

FXE has the higher dividend yield at 0.75%, compared with 0.00% for EUSC.

What is the main difference between FXE and EUSC?

FXE is categorized as Currency, while EUSC is Europe Equities. FXE tracks Euro, while EUSC tracks WisdomTree Europe Hedged SmallCap Equity Index. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.40% for FXE and 0.58% for EUSC.