FXF vs. ARKB

Last updated Jun 16, 2026

FXF (Invesco CurrencyShares® Swiss Franc Trust) and ARKB (ARK 21Shares Bitcoin ETF) are both exchange-traded funds - FXF is a Currency fund tracking the Swiss Franc, while ARKB is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, FXF returned 1.46% vs -36.82% for ARKB. At a 0.06 correlation, their price movements are largely independent. FXF charges 0.40%/yr vs 0.21%/yr for ARKB.

Performance

FXF vs. ARKB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco CurrencyShares® Swiss Franc Trust (FXF) and ARK 21Shares Bitcoin ETF (ARKB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXF achieves a -0.56% return, which is significantly higher than ARKB's -23.93% return.

FXF

• 1D: 0.23%
• 1M: -1.07%
• YTD: -0.56%
• 6M: -0.05%
• 1Y: 1.46%
• 3Y*: 3.71%
• 5Y*: 2.14%
• 10Y*: 1.05%

ARKB

• 1D: 4.79%
• 1M: -15.85%
• YTD: -23.93%
• 6M: -22.44%
• 1Y: -36.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FXF vs. ARKB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FXF Invesco CurrencyShares® Swiss Franc Trust	-0.56%	14.04%	-6.34%
ARKB ARK 21Shares Bitcoin ETF	-23.93%	-6.59%	86.54%

Correlation

The correlation between FXF and ARKB is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.06

The correlation between FXF and ARKB shifts across timeframes, from 0.06 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FXF vs. ARKB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FXF

FXF Risk / Return Rank: 12
FXF Sharpe Ratio Rank: 12
FXF Sortino Ratio Rank: 11
FXF Omega Ratio Rank: 11
FXF Calmar Ratio Rank: 13
FXF Martin Ratio Rank: 12

ARKB

ARKB Risk / Return Rank: 3
ARKB Sharpe Ratio Rank: 3
ARKB Sortino Ratio Rank: 3
ARKB Omega Ratio Rank: 3
ARKB Calmar Ratio Rank: 3
ARKB Martin Ratio Rank: 3

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.

FXF vs. ARKB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Swiss Franc Trust (FXF) and ARK 21Shares Bitcoin ETF (ARKB). 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.

	FXF	ARKB	Difference
Sharpe ratio: Return per unit of total volatility	0.20	-0.84	+1.04
Sortino ratio: Return per unit of downside risk	0.35	-1.12	+1.47
Omega ratio: Gain probability vs. loss probability	1.04	0.87	+0.16
Calmar ratio: Return relative to maximum drawdown	0.30	-0.71	+1.01
Martin ratio: Return relative to average drawdown	0.64	-1.24	+1.88

FXF vs. ARKB - Sharpe Ratio Comparison

The current FXF Sharpe Ratio is 0.20, which is higher than the ARKB Sharpe Ratio of -0.84. The chart below compares the historical Sharpe Ratios of FXF and ARKB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FXF vs. ARKB - Drawdown Comparison

The maximum FXF drawdown since its inception was -35.58%, smaller than the maximum ARKB drawdown of -52.04%. Use the drawdown chart below to compare losses from any high point for FXF and ARKB.

Drawdown Indicators

	FXF	ARKB	Difference
Max Drawdown Largest peak-to-trough decline	-35.58%	-52.04%	+16.46%
Max Drawdown (1Y) Largest decline over 1 year	-4.97%	-52.04%	+47.07%
Max Drawdown (3Y) Largest decline over 3 years	-8.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.99%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-15.04%	—	—
Current Drawdown Current decline from peak	-18.83%	-47.03%	+28.20%
Average Drawdown Average peak-to-trough decline	-20.83%	-16.61%	-4.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	29.75%	-27.46%

Volatility

FXF vs. ARKB - Volatility Comparison

The current volatility for Invesco CurrencyShares® Swiss Franc Trust (FXF) is 1.84%, while ARK 21Shares Bitcoin ETF (ARKB) has a volatility of 12.88%. This indicates that FXF experiences smaller price fluctuations and is considered to be less risky than ARKB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXF	ARKB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.84%	12.88%	-11.04%
Volatility (6M) Calculated over the trailing 6-month period	5.53%	34.67%	-29.14%
Volatility (1Y) Calculated over the trailing 1-year period	7.42%	44.23%	-36.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.33%	50.14%	-41.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.57%	50.14%	-42.57%

FXF vs. ARKB - Expense Ratio Comparison

FXF has a 0.40% expense ratio, which is higher than ARKB's 0.21% expense ratio.

Dividends

FXF vs. ARKB - Dividend Comparison

Neither FXF nor ARKB has paid dividends to shareholders.

Position	TTM	2025	2024	2023
ARKB ARK 21Shares Bitcoin ETF	0.00%	0.00%	0.00%	0.00%
FXF Invesco CurrencyShares® Swiss Franc Trust	0.00%	0.00%	0.03%	0.02%

Frequently Asked Questions

Can I hold both FXF and ARKB in my portfolio?

FXF and ARKB have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXF or ARKB?

ARKB has higher volatility (12.88%) compared to FXF (1.84%). In terms of maximum drawdown, FXF dropped -35.58% vs ARKB's -52.04%.

Which ETF is better, FXF or ARKB?

On 1-year performance, FXF leads with 1.46% vs -36.82% for ARKB. On fees, ARKB is cheaper at 0.21% per year. On volatility, FXF has been the lower-risk option at 1.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXF or ARKB?

Over the 1-year period, FXF has performed better with a 1.46% return vs -36.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXF or ARKB?

ARKB is cheaper with a 0.21% expense ratio, compared with 0.40% for FXF.

Which ETF pays a higher dividend yield, FXF or ARKB?

FXF and ARKB have nearly identical dividend yields, around 0.00%.

What is the main difference between FXF and ARKB?

FXF is categorized as Currency, while ARKB is Cryptocurrency. FXF tracks Swiss Franc, while ARKB tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: Invesco and ARK. Their fees differ too: 0.40% for FXF and 0.21% for ARKB.

Which has better risk-adjusted returns?

FXF currently has the higher Sharpe Ratio (0.20 vs -0.84), 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.