FXE vs. IBIT
FXE (Invesco CurrencyShares® Euro Currency Trust) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - FXE is a Currency fund tracking the Euro, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, FXE returned -1.00% vs -44.68% for IBIT. At a 0.17 correlation, their price movements are largely independent. FXE charges 0.40%/yr vs 0.25%/yr for IBIT.
Performance
FXE vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, FXE achieves a -2.42% return, which is significantly higher than IBIT's -25.70% return.
FXE
- 1D
- -0.23%
- 1M
- -0.31%
- 6M
- -1.19%
- YTD
- -2.42%
- 1Y
- -1.00%
- 3Y*
- 2.37%
- 5Y*
- 0.13%
- 10Y*
- 0.37%
- ALL TIME*
- 0.08%
IBIT
- 1D
- 1.49%
- 1M
- 3.57%
- 6M
- -31.99%
- YTD
- -25.70%
- 1Y
- -44.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.65%
FXE vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FXE Invesco CurrencyShares® Euro Currency Trust | -2.42% | 14.52% | -3.62% |
IBIT iShares Bitcoin Trust ETF | -25.70% | -6.41% | 89.87% |
Correlation
The correlation between FXE and IBIT is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.17 |
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Return for Risk
FXE vs. IBIT — Risk / Return Rank
FXE
IBIT
FXE vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Euro Currency Trust (FXE) and iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.85 | ||
| Sortino ratioReturn per unit of downside risk | +1.31 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 0.83 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | -0.84 | +0.65 |
| Martin ratioReturn relative to average drawdown | -0.39 | -1.34 | +0.95 |
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Drawdowns
FXE vs. IBIT - Drawdown Comparison
The maximum FXE drawdown since its inception was -43.33%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for FXE and IBIT.
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Drawdown Indicators
| FXE | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.33% | -53.30% | +9.97% |
Max Drawdown (1Y)Largest decline over 1 year | -5.40% | -53.30% | +47.90% |
Max Drawdown (3Y)Largest decline over 3 years | -8.12% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -20.21% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -26.46% | — | — |
Current DrawdownCurrent decline from peak | -29.03% | -48.25% | +19.22% |
Average DrawdownAverage peak-to-trough decline | -22.34% | -17.81% | -4.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 33.42% | -30.82% |
Volatility
FXE vs. IBIT - Volatility Comparison
The current volatility for Invesco CurrencyShares® Euro Currency Trust (FXE) is 1.26%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 10.67%. This indicates that FXE experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXE | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 10.67% | -9.41% |
Volatility (6M)Calculated over the trailing 6-month period | 4.46% | 34.60% | -30.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.18% | 44.40% | -38.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.66% | 49.85% | -42.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.26% | 49.85% | -42.59% |
FXE vs. IBIT - Expense Ratio Comparison
FXE has a 0.40% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
FXE vs. IBIT - Dividend Comparison
FXE's dividend yield for the trailing twelve months is around 0.75%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FXE Invesco CurrencyShares® Euro Currency Trust | 0.75% | 0.94% | 2.28% | 1.49% | 0.01% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FXE and IBIT have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (10.67%) compared to FXE (1.26%). In terms of maximum drawdown, FXE dropped -43.33% vs IBIT's -53.30%.
On 1-year performance, FXE leads with -1.00% vs -44.68% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, FXE has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FXE has performed better with a -1.00% return vs -44.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.40% for FXE.
FXE has the higher dividend yield at 0.75%, compared with 0.00% for IBIT.
FXE is categorized as Currency, while IBIT is Cryptocurrency. FXE tracks Euro, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.40% for FXE and 0.25% for IBIT.
FXE currently has the higher Sharpe Ratio (-0.16 vs -1.01), 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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