FXE vs. FXA
Compare and contrast key facts about Invesco CurrencyShares® Euro Currency Trust (FXE) and Invesco CurrencyShares Australian Dollar Trust (FXA).
FXE and FXA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FXE is a passively managed fund by Invesco that tracks the performance of the Euro. It was launched on Dec 9, 2005. FXA is a passively managed fund by Invesco that tracks the performance of the USD/AUD Exchange Rate. It was launched on Jun 21, 2006. Both FXE and FXA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FXE vs. FXA - Performance Comparison
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FXE vs. FXA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXE Invesco CurrencyShares® Euro Currency Trust | -1.28% | 14.52% | -4.18% | 4.87% | -6.57% | -7.83% | 7.94% | -2.90% | -5.30% | 13.05% |
FXA Invesco CurrencyShares Australian Dollar Trust | 3.95% | 9.10% | -7.75% | 1.20% | -6.46% | -6.17% | 9.52% | 0.13% | -8.84% | 9.05% |
Returns By Period
In the year-to-date period, FXE achieves a -1.28% return, which is significantly lower than FXA's 3.95% return. Over the past 10 years, FXE has outperformed FXA with an annualized return of 0.09%, while FXA has yielded a comparatively lower -0.43% annualized return.
FXE
- 1D
- 0.17%
- 1M
- -0.91%
- YTD
- -1.28%
- 6M
- -0.93%
- 1Y
- 8.11%
- 3Y*
- 3.81%
- 5Y*
- 0.34%
- 10Y*
- 0.09%
FXA
- 1D
- 0.25%
- 1M
- -2.32%
- YTD
- 3.95%
- 6M
- 5.16%
- 1Y
- 11.43%
- 3Y*
- 2.47%
- 5Y*
- -1.19%
- 10Y*
- -0.43%
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FXE vs. FXA - Expense Ratio Comparison
Both FXE and FXA have an expense ratio of 0.40%.
Return for Risk
FXE vs. FXA — Risk / Return Rank
FXE
FXA
FXE vs. FXA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Euro Currency Trust (FXE) and Invesco CurrencyShares Australian Dollar Trust (FXA). 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 | FXA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.07 | 1.15 | -0.09 |
Sortino ratioReturn per unit of downside risk | 1.71 | 1.60 | +0.11 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.22 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.57 | 2.15 | -0.58 |
Martin ratioReturn relative to average drawdown | 4.16 | 7.81 | -3.65 |
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
| FXE | FXA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 1.15 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | -0.11 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.01 | -0.04 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | 0.13 | -0.12 |
Correlation
The correlation between FXE and FXA is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
FXE vs. FXA - Dividend Comparison
FXE's dividend yield for the trailing twelve months is around 0.77%, less than FXA's 0.93% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXE Invesco CurrencyShares® Euro Currency Trust | 0.77% | 0.94% | 2.28% | 1.49% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FXA Invesco CurrencyShares Australian Dollar Trust | 0.93% | 1.16% | 1.66% | 0.98% | 0.05% | 0.00% | 0.03% | 0.53% | 1.04% | 0.83% | 1.01% | 1.52% |
Drawdowns
FXE vs. FXA - Drawdown Comparison
The maximum FXE drawdown since its inception was -43.33%, which is greater than FXA's maximum drawdown of -40.97%. Use the drawdown chart below to compare losses from any high point for FXE and FXA.
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Drawdown Indicators
| FXE | FXA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.33% | -40.97% | -2.36% |
Max Drawdown (1Y)Largest decline over 1 year | -5.02% | -5.55% | +0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -22.70% | -21.99% | -0.71% |
Max Drawdown (10Y)Largest decline over 10 years | -26.46% | -27.99% | +1.53% |
Current DrawdownCurrent decline from peak | -28.19% | -26.78% | -1.41% |
Average DrawdownAverage peak-to-trough decline | -22.26% | -18.77% | -3.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 1.52% | +0.37% |
Volatility
FXE vs. FXA - Volatility Comparison
The current volatility for Invesco CurrencyShares® Euro Currency Trust (FXE) is 2.19%, while Invesco CurrencyShares Australian Dollar Trust (FXA) has a volatility of 3.40%. This indicates that FXE experiences smaller price fluctuations and is considered to be less risky than FXA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXE | FXA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.19% | 3.40% | -1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 4.24% | 5.93% | -1.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.65% | 9.98% | -2.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.70% | 10.46% | -2.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.37% | 10.00% | -2.63% |