PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
FXE vs. XLK
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FXE vs. XLK

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco CurrencyShares® Euro Currency Trust (FXE) and State Street Technology Select Sector SPDR ETF (XLK).

FXE and XLK 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. XLK is a passively managed fund by State Street that tracks the performance of the S&P Technology Select Sector Daily Capped 35/20 Index. It was launched on Dec 16, 1998. Both FXE and XLK 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. XLK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco CurrencyShares® Euro Currency Trust (FXE) and State Street Technology Select Sector SPDR ETF (XLK). The values are adjusted to include any dividend payments, if applicable.

Loading graphics...

FXE vs. XLK - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
XLK
State Street Technology Select Sector SPDR ETF		-6.18%24.61%21.63%56.02%-27.73%34.74%43.62%49.86%-1.68%34.26%

Returns By Period

In the year-to-date period, FXE achieves a -1.28% return, which is significantly higher than XLK's -6.18% return. Over the past 10 years, FXE has underperformed XLK with an annualized return of 0.09%, while XLK has yielded a comparatively higher 21.00% 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%

XLK

1D
1.51%
1M
-3.20%
YTD
-6.18%
6M
-4.94%
1Y
30.47%
3Y*
22.19%
5Y*
15.65%
10Y*
21.00%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco CurrencyShares® Euro Currency Trust

State Street Technology Select Sector SPDR ETF

Often compared with FXE:
FXE vs. EURUSD=XFXE vs. FXYFXE vs. FXCFXE vs. UDNFXE vs. FXBFXE vs. SPYFXE vs. VGK
Often compared with XLK:
XLK vs. QQQXLK vs. VGTXLK vs. SMHXLK vs. SPYXLK vs. FTECXLK vs. IYWXLK vs. XLE

FXE vs. XLK - Expense Ratio Comparison

FXE has a 0.40% expense ratio, which is higher than XLK's 0.08% expense ratio.

FXE
Invesco CurrencyShares® Euro Currency Trust
XLK
State Street Technology Select Sector SPDR ETF

Return for Risk

FXE vs. XLK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FXE
FXE Risk / Return Rank: 5555
Overall Rank
FXE Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
FXE Sortino Ratio Rank: 6565
Sortino Ratio Rank
FXE Omega Ratio Rank: 5050
Omega Ratio Rank
FXE Calmar Ratio Rank: 5858
Calmar Ratio Rank
FXE Martin Ratio Rank: 4343
Martin Ratio Rank
XLK
XLK Risk / Return Rank: 6565
Overall Rank
XLK Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
XLK Sortino Ratio Rank: 6565
Sortino Ratio Rank
XLK Omega Ratio Rank: 6363
Omega Ratio Rank
XLK Calmar Ratio Rank: 7373
Calmar Ratio Rank
XLK Martin Ratio Rank: 6262
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FXE vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Euro Currency Trust (FXE) and State Street Technology Select Sector SPDR ETF (XLK). 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.

FXEXLKDifference

Sharpe ratio

Return per unit of total volatility

1.07

1.13

-0.07

Sortino ratio

Return per unit of downside risk

1.71

1.71

0.00

Omega ratio

Gain probability vs. loss probability

1.20

1.24

-0.04

Calmar ratio

Return relative to maximum drawdown

1.57

1.97

-0.41

Martin ratio

Return relative to average drawdown

4.16

6.31

-2.14

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FXE vs. XLK - Sharpe Ratio Comparison

The current FXE Sharpe Ratio is 1.07, which is comparable to the XLK Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of FXE and XLK, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Loading graphics...

Sharpe Ratios by Period

FXEXLKDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.07

1.13

-0.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.04

0.64

-0.59

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.01

0.87

-0.85

Sharpe Ratio (All Time)

Calculated using the full available price history

0.02

0.36

-0.34

Correlation

The correlation between FXE and XLK is 0.16, 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.

Dividends

FXE vs. XLK - Dividend Comparison

FXE's dividend yield for the trailing twelve months is around 0.77%, more than XLK's 0.57% yield.

TTM20252024202320222021202020192018201720162015
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%
XLK
State Street Technology Select Sector SPDR ETF		0.57%0.54%0.66%0.76%1.04%0.65%0.92%1.16%1.60%1.37%1.74%1.79%

Drawdowns

FXE vs. XLK - Drawdown Comparison

The maximum FXE drawdown since its inception was -43.33%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for FXE and XLK.

Loading graphics...

Drawdown Indicators

FXEXLKDifference

Max Drawdown

Largest peak-to-trough decline

-43.33%

-82.05%

+38.72%

Max Drawdown (1Y)

Largest decline over 1 year

-5.02%

-15.92%

+10.90%

Max Drawdown (5Y)

Largest decline over 5 years

-22.70%

-33.56%

+10.86%

Max Drawdown (10Y)

Largest decline over 10 years

-26.46%

-33.56%

+7.10%

Current Drawdown

Current decline from peak

-28.19%

-11.04%

-17.15%

Average Drawdown

Average peak-to-trough decline

-22.26%

-35.17%

+12.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.89%

4.98%

-3.09%

Volatility

FXE vs. XLK - Volatility Comparison

The current volatility for Invesco CurrencyShares® Euro Currency Trust (FXE) is 2.19%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 8.12%. This indicates that FXE experiences smaller price fluctuations and is considered to be less risky than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading graphics...

Volatility by Period

FXEXLKDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.19%

8.12%

-5.93%

Volatility (6M)

Calculated over the trailing 6-month period

4.24%

16.49%

-12.25%

Volatility (1Y)

Calculated over the trailing 1-year period

7.65%

27.05%

-19.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.70%

24.72%

-17.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.37%

24.33%

-16.96%