FXE vs. IBIC
FXE (Invesco CurrencyShares® Euro Currency Trust) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - FXE is a Currency fund tracking the Euro, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, FXE returned -0.10% vs 4.38% for IBIC. At a 0.15 correlation, their price movements are largely independent. FXE charges 0.40%/yr vs 0.10%/yr for IBIC.
Performance
FXE vs. IBIC - Performance Comparison
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Returns By Period
In the year-to-date period, FXE achieves a -2.44% return, which is significantly lower than IBIC's 2.39% return.
FXE
- 1D
- -0.32%
- 1M
- -1.50%
- YTD
- -2.44%
- 6M
- -2.44%
- 1Y
- -0.10%
- 3Y*
- 3.14%
- 5Y*
- -0.10%
- 10Y*
- 0.26%
IBIC
- 1D
- 0.06%
- 1M
- 0.08%
- YTD
- 2.39%
- 6M
- 2.49%
- 1Y
- 4.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FXE vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FXE Invesco CurrencyShares® Euro Currency Trust | -2.44% | 14.52% | -4.18% | 4.45% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.39% | 4.96% | 5.25% | 2.17% |
Correlation
The correlation between FXE and IBIC is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | 0.15 |
The correlation between FXE and IBIC shifts across timeframes, from -0.10 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FXE vs. IBIC — Risk / Return Rank
FXE
IBIC
FXE vs. IBIC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Euro Currency Trust (FXE) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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 | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.96 | ||
| Sortino ratioReturn per unit of downside risk | -8.87 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 2.21 | -1.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 16.41 | -16.43 |
| Martin ratioReturn relative to average drawdown | -0.04 | 58.11 | -58.15 |
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Drawdowns
FXE vs. IBIC - Drawdown Comparison
The maximum FXE drawdown since its inception was -43.33%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for FXE and IBIC.
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Drawdown Indicators
| FXE | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.33% | -0.90% | -42.43% |
Max Drawdown (1Y)Largest decline over 1 year | -5.02% | -0.27% | -4.75% |
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 DrawdownCurrent decline from peak | -29.04% | -0.11% | -28.93% |
Average DrawdownAverage peak-to-trough decline | -22.32% | -0.10% | -22.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 0.08% | +2.18% |
Volatility
FXE vs. IBIC - Volatility Comparison
Invesco CurrencyShares® Euro Currency Trust (FXE) has a higher volatility of 1.52% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.16%. This indicates that FXE's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXE | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 0.16% | +1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 4.39% | 0.67% | +3.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.24% | 0.89% | +5.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.66% | 1.57% | +6.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.31% | 1.57% | +5.74% |
FXE vs. IBIC - Expense Ratio Comparison
FXE has a 0.40% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
FXE vs. IBIC - Dividend Comparison
FXE's dividend yield for the trailing twelve months is around 0.74%, less than IBIC's 3.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FXE Invesco CurrencyShares® Euro Currency Trust | 0.74% | 0.94% | 2.28% | 1.49% | 0.01% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.59% | 4.43% | 4.65% | 0.83% | 0.00% |
Frequently Asked Questions
FXE and IBIC have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXE has higher volatility (1.52%) compared to IBIC (0.16%). In terms of maximum drawdown, FXE dropped -43.33% vs IBIC's -0.90%.
On 1-year performance, IBIC leads with 4.38% vs -0.10% for FXE. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIC has performed better with a 4.38% return vs -0.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 0.40% for FXE.
IBIC has the higher dividend yield at 3.59%, compared with 0.74% for FXE.
FXE is categorized as Currency, while IBIC is Inflation-Protected Bonds. FXE tracks Euro, while IBIC tracks ICE 2026 Maturity US Inflation-Linked Treasury Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.40% for FXE and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (4.94 vs -0.02), 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.
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