FXF vs. FXC
FXF (Invesco CurrencyShares® Swiss Franc Trust) and FXC (Invesco CurrencyShares® Canadian Dollar Trust) are both Currency funds from Invesco - FXF tracks the Swiss Franc while FXC tracks the Canadian Dollar. Both are passively managed. Over the past 10 years, FXF returned 1.25%/yr vs -0.20%/yr for FXC. At a 0.36 correlation, their price movements are largely independent. Both charge a 0.40% expense ratio.
Performance
FXF vs. FXC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FXF achieves a -0.20% return, which is significantly higher than FXC's -1.15% return. Over the past 10 years, FXF has outperformed FXC with an annualized return of 1.25%, while FXC has yielded a comparatively lower -0.20% annualized return.
FXF
- 1D
- -0.62%
- 1M
- -1.07%
- YTD
- -0.20%
- 6M
- 0.70%
- 1Y
- 3.46%
- 3Y*
- 4.38%
- 5Y*
- 2.01%
- 10Y*
- 1.25%
FXC
- 1D
- -0.41%
- 1M
- -2.04%
- YTD
- -1.15%
- 6M
- 0.45%
- 1Y
- -1.04%
- 3Y*
- 0.12%
- 5Y*
- -1.87%
- 10Y*
- -0.20%
FXF vs. FXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXF Invesco CurrencyShares® Swiss Franc Trust | -0.20% | 14.04% | -7.46% | 9.63% | -2.29% | -4.08% | 8.18% | 0.32% | -2.01% | 3.31% |
FXC Invesco CurrencyShares® Canadian Dollar Trust | -1.15% | 5.24% | -5.96% | 4.35% | -6.44% | 0.22% | 1.92% | 5.94% | -7.54% | 6.72% |
Correlation
The correlation between FXF and FXC is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2006 | 0.36 |
Over the past year, FXF and FXC have become more correlated (0.62) than their long-term average of 0.36, meaning their price movements have been converging.
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. FXC — Risk / Return Rank
FXF
FXC
FXF vs. FXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Swiss Franc Trust (FXF) and Invesco CurrencyShares® Canadian Dollar Trust (FXC). 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.
| FXF | FXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.97 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | -0.28 | +1.00 |
| Martin ratioReturn relative to average drawdown | 1.62 | -0.52 | +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. | |||
Loading charts...
Sharpe Ratios by Period
| FXF | FXC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.47 | -0.23 | +0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | -0.29 | +0.54 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | -0.03 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | -0.05 | +0.23 |
Drawdowns
FXF vs. FXC - Drawdown Comparison
The maximum FXF drawdown since its inception was -35.58%, roughly equal to the maximum FXC drawdown of -35.39%. Use the drawdown chart below to compare losses from any high point for FXF and FXC.
Loading charts...
Drawdown Indicators
| FXF | FXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.58% | -35.39% | -0.19% |
Max Drawdown (1Y)Largest decline over 1 year | -4.82% | -3.78% | -1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -8.52% | -7.34% | -1.18% |
Max Drawdown (5Y)Largest decline over 5 years | -13.03% | -13.53% | +0.50% |
Max Drawdown (10Y)Largest decline over 10 years | -15.04% | -15.46% | +0.42% |
Current DrawdownCurrent decline from peak | -18.53% | -28.86% | +10.33% |
Average DrawdownAverage peak-to-trough decline | -20.84% | -19.92% | -0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 1.98% | +0.17% |
Volatility
FXF vs. FXC - Volatility Comparison
Invesco CurrencyShares® Swiss Franc Trust (FXF) has a higher volatility of 1.69% compared to Invesco CurrencyShares® Canadian Dollar Trust (FXC) at 0.77%. This indicates that FXF's price experiences larger fluctuations and is considered to be riskier than FXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FXF | FXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.69% | 0.77% | +0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 5.56% | 3.28% | +2.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.51% | 4.50% | +3.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.32% | 6.37% | +1.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.57% | 6.66% | +0.91% |
FXF vs. FXC - Expense Ratio Comparison
Both FXF and FXC have an expense ratio of 0.40%.
Dividends
FXF vs. FXC - Dividend Comparison
FXF has not paid dividends to shareholders, while FXC's dividend yield for the trailing twelve months is around 0.26%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXC Invesco CurrencyShares® Canadian Dollar Trust | 0.26% | 0.55% | 2.23% | 2.01% | 0.31% | 0.00% | 0.19% | 0.75% | 0.42% | 0.02% | 0.00% | 0.02% |
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 FXC have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXF has higher volatility (1.69%) compared to FXC (0.77%). In terms of maximum drawdown, FXF dropped -35.58% vs FXC's -35.39%.
On 10-year performance, FXF leads with 1.25% vs -0.20% for FXC. Both ETFs have the same 0.40% expense ratio. On volatility, FXC has been the lower-risk option at 0.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FXF has performed better with a 1.25% return vs -0.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXF and FXC have the same expense ratio: 0.40% per year.
FXC has the higher dividend yield at 0.26%, compared with 0.00% for FXF.
FXF tracks Swiss Franc, while FXC tracks Canadian Dollar.
FXF currently has the higher Sharpe Ratio (0.47 vs -0.23), 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 FXC
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