FXE vs. FXF
Compare and contrast key facts about Invesco CurrencyShares® Euro Currency Trust (FXE) and Invesco CurrencyShares® Swiss Franc Trust (FXF).
FXE and FXF 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. FXF is a passively managed fund by Invesco that tracks the performance of the Swiss Franc. It was launched on Jun 26, 2006. Both FXE and FXF 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. FXF - Performance Comparison
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FXE vs. FXF - 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% |
FXF Invesco CurrencyShares® Swiss Franc Trust | -0.45% | 14.04% | -7.46% | 9.63% | -2.29% | -4.08% | 8.18% | 0.32% | -2.01% | 3.31% |
Returns By Period
In the year-to-date period, FXE achieves a -1.28% return, which is significantly lower than FXF's -0.45% return. Over the past 10 years, FXE has underperformed FXF with an annualized return of 0.09%, while FXF has yielded a comparatively higher 1.02% 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%
FXF
- 1D
- 0.62%
- 1M
- -1.96%
- YTD
- -0.45%
- 6M
- -0.01%
- 1Y
- 10.60%
- 3Y*
- 4.51%
- 5Y*
- 2.88%
- 10Y*
- 1.02%
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FXE vs. FXF - Expense Ratio Comparison
Both FXE and FXF have an expense ratio of 0.40%.
Return for Risk
FXE vs. FXF — Risk / Return Rank
FXE
FXF
FXE vs. FXF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Euro Currency Trust (FXE) and Invesco CurrencyShares® Swiss Franc Trust (FXF). 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 | FXF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.07 | 1.09 | -0.02 |
Sortino ratioReturn per unit of downside risk | 1.71 | 1.82 | -0.12 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.21 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.57 | 2.21 | -0.65 |
Martin ratioReturn relative to average drawdown | 4.16 | 5.49 | -1.33 |
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 | FXF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 1.09 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.35 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.01 | 0.13 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | 0.17 | -0.16 |
Correlation
The correlation between FXE and FXF is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FXE vs. FXF - Dividend Comparison
FXE's dividend yield for the trailing twelve months is around 0.77%, while FXF has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FXE Invesco CurrencyShares® Euro Currency Trust | 0.77% | 0.94% | 2.28% | 1.49% | 0.01% |
FXF Invesco CurrencyShares® Swiss Franc Trust | 0.00% | 0.00% | 0.03% | 0.02% | 0.00% |
Drawdowns
FXE vs. FXF - Drawdown Comparison
The maximum FXE drawdown since its inception was -43.33%, which is greater than FXF's maximum drawdown of -35.58%. Use the drawdown chart below to compare losses from any high point for FXE and FXF.
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Drawdown Indicators
| FXE | FXF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.33% | -35.58% | -7.75% |
Max Drawdown (1Y)Largest decline over 1 year | -5.02% | -4.82% | -0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -22.70% | -13.03% | -9.67% |
Max Drawdown (10Y)Largest decline over 10 years | -26.46% | -15.04% | -11.42% |
Current DrawdownCurrent decline from peak | -28.19% | -18.73% | -9.46% |
Average DrawdownAverage peak-to-trough decline | -22.26% | -20.87% | -1.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 1.95% | -0.06% |
Volatility
FXE vs. FXF - Volatility Comparison
Invesco CurrencyShares® Euro Currency Trust (FXE) and Invesco CurrencyShares® Swiss Franc Trust (FXF) have volatilities of 2.19% and 2.11%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXE | FXF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.19% | 2.11% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 4.24% | 5.46% | -1.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.65% | 9.81% | -2.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.70% | 8.31% | -0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.37% | 7.60% | -0.23% |