FXF vs. BKLN
FXF (Invesco CurrencyShares® Swiss Franc Trust) and BKLN (Invesco Senior Loan ETF) are both exchange-traded funds - FXF is a Currency fund tracking the Swiss Franc, while BKLN is a Bank Loan fund tracking the Morningstar LSTA US Leveraged Loan 100 Index. Both are passively managed. Over the past 10 years, FXF returned 1.05%/yr vs 4.32%/yr for BKLN. At a 0.07 correlation, their price movements are largely independent. FXF charges 0.40%/yr vs 0.65%/yr for BKLN.
Performance
FXF vs. BKLN - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FXF achieves a -0.56% return, which is significantly lower than BKLN's -0.04% return. Over the past 10 years, FXF has underperformed BKLN with an annualized return of 1.05%, while BKLN has yielded a comparatively higher 4.32% annualized 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%
BKLN
- 1D
- 0.15%
- 1M
- -0.24%
- YTD
- -0.04%
- 6M
- 0.36%
- 1Y
- 4.59%
- 3Y*
- 7.18%
- 5Y*
- 5.09%
- 10Y*
- 4.32%
FXF vs. BKLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXF Invesco CurrencyShares® Swiss Franc Trust | -0.56% | 14.04% | -7.46% | 9.63% | -2.29% | -4.08% | 8.18% | 0.32% | -2.01% | 3.31% |
BKLN Invesco Senior Loan ETF | -0.04% | 6.88% | 8.21% | 12.53% | -2.51% | 2.32% | 1.32% | 10.03% | -1.32% | 2.13% |
Correlation
The correlation between FXF and BKLN is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2011 | 0.07 |
The correlation between FXF and BKLN shifts across timeframes, from 0.07 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FXF vs. BKLN — Risk / Return Rank
FXF
BKLN
FXF vs. BKLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Swiss Franc Trust (FXF) and Invesco Senior Loan ETF (BKLN). 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 | BKLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.48 | ||
| Sortino ratioReturn per unit of downside risk | -2.11 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.39 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 1.50 | -1.21 |
| Martin ratioReturn relative to average drawdown | 0.64 | 5.88 | -5.24 |
Loading charts...
Drawdowns
FXF vs. BKLN - Drawdown Comparison
The maximum FXF drawdown since its inception was -35.58%, which is greater than BKLN's maximum drawdown of -24.17%. Use the drawdown chart below to compare losses from any high point for FXF and BKLN.
Loading charts...
Drawdown Indicators
| FXF | BKLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.58% | -24.17% | -11.41% |
Max Drawdown (1Y)Largest decline over 1 year | -4.97% | -3.07% | -1.90% |
Max Drawdown (3Y)Largest decline over 3 years | -8.52% | -3.55% | -4.97% |
Max Drawdown (5Y)Largest decline over 5 years | -11.99% | -7.31% | -4.68% |
Max Drawdown (10Y)Largest decline over 10 years | -15.04% | -24.17% | +9.13% |
Current DrawdownCurrent decline from peak | -18.83% | -0.48% | -18.35% |
Average DrawdownAverage peak-to-trough decline | -20.83% | -1.09% | -19.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.29% | 0.78% | +1.51% |
Volatility
FXF vs. BKLN - Volatility Comparison
Invesco CurrencyShares® Swiss Franc Trust (FXF) has a higher volatility of 1.84% compared to Invesco Senior Loan ETF (BKLN) at 0.53%. This indicates that FXF's price experiences larger fluctuations and is considered to be riskier than BKLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FXF | BKLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.84% | 0.53% | +1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 5.53% | 2.54% | +2.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.42% | 2.76% | +4.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.33% | 4.48% | +3.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.57% | 6.43% | +1.14% |
FXF vs. BKLN - Expense Ratio Comparison
FXF has a 0.40% expense ratio, which is lower than BKLN's 0.65% expense ratio.
Dividends
FXF vs. BKLN - Dividend Comparison
FXF has not paid dividends to shareholders, while BKLN's dividend yield for the trailing twelve months is around 6.63%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKLN Invesco Senior Loan ETF | 6.63% | 6.95% | 8.41% | 8.59% | 4.93% | 3.11% | 3.56% | 4.86% | 4.52% | 3.50% | 4.54% | 4.12% |
FXF Invesco CurrencyShares® Swiss Franc Trust | 0.00% | 0.00% | 0.03% | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FXF and BKLN have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXF has higher volatility (1.84%) compared to BKLN (0.53%). In terms of maximum drawdown, FXF dropped -35.58% vs BKLN's -24.17%.
On 10-year performance, BKLN leads with 4.32% vs 1.05% for FXF. On fees, FXF is cheaper at 0.40% per year. On volatility, BKLN has been the lower-risk option at 0.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BKLN has performed better with a 4.32% return vs 1.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXF is cheaper with a 0.40% expense ratio, compared with 0.65% for BKLN.
BKLN has the higher dividend yield at 6.63%, compared with 0.00% for FXF.
FXF is categorized as Currency, while BKLN is Bank Loan. FXF tracks Swiss Franc, while BKLN tracks Morningstar LSTA US Leveraged Loan 100 Index. Their fees differ too: 0.40% for FXF and 0.65% for BKLN.
BKLN currently has the higher Sharpe Ratio (1.68 vs 0.20), 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.
Find the right allocation for FXF and BKLN
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer