FXE vs. FXY
Compare and contrast key facts about Invesco CurrencyShares® Euro Currency Trust (FXE) and Invesco CurrencyShares® Japanese Yen Trust (FXY).
FXE and FXY 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. FXY is a passively managed fund by Invesco that tracks the performance of the Japanese Yen. It was launched on Feb 12, 2007. Both FXE and FXY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FXE or FXY.
Key characteristics
| FXE | FXY | |
|---|---|---|
| YTD Return | 1.69% | -3.84% |
| 1Y Return | 4.28% | -1.00% |
| 3Y Return (Ann) | -1.48% | -9.57% |
| 5Y Return (Ann) | 0.17% | -6.72% |
| 10Y Return (Ann) | -2.04% | -3.74% |
| Sharpe Ratio | 0.58 | -0.04 |
| Daily Std Dev | 6.17% | 10.19% |
| Max Drawdown | -43.33% | -56.03% |
| Current Drawdown | -32.59% | -51.36% |
Correlation
The correlation between FXE and FXY is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
FXE vs. FXY - Performance Comparison
In the year-to-date period, FXE achieves a 1.69% return, which is significantly higher than FXY's -3.84% return. Over the past 10 years, FXE has outperformed FXY with an annualized return of -2.04%, while FXY has yielded a comparatively lower -3.74% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FXE vs. FXY - Expense Ratio Comparison
Both FXE and FXY have an expense ratio of 0.40%.
Risk-Adjusted Performance
FXE vs. FXY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Euro Currency Trust (FXE) and Invesco CurrencyShares® Japanese Yen Trust (FXY). 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.
Dividends
FXE vs. FXY - Dividend Comparison
FXE's dividend yield for the trailing twelve months is around 2.22%, while FXY has not paid dividends to shareholders.
| TTM | 2023 | 2022 | |
|---|---|---|---|
FXE Invesco CurrencyShares® Euro Currency Trust | 2.05% | 1.49% | 0.01% |
FXY Invesco CurrencyShares® Japanese Yen Trust | 0.00% | 0.00% | 0.00% |
Drawdowns
FXE vs. FXY - Drawdown Comparison
The maximum FXE drawdown since its inception was -43.33%, smaller than the maximum FXY drawdown of -56.03%. Use the drawdown chart below to compare losses from any high point for FXE and FXY. For additional features, visit the drawdowns tool.
Volatility
FXE vs. FXY - Volatility Comparison
The current volatility for Invesco CurrencyShares® Euro Currency Trust (FXE) is 2.08%, while Invesco CurrencyShares® Japanese Yen Trust (FXY) has a volatility of 4.47%. This indicates that FXE experiences smaller price fluctuations and is considered to be less risky than FXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.