FXF vs. RSP
FXF (Invesco CurrencyShares® Swiss Franc Trust) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - FXF is a Currency fund tracking the Swiss Franc, while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Both are passively managed. Over the past 10 years, FXF returned 0.93%/yr vs 11.94%/yr for RSP. Their 0.04 correlation means their historical movements had little consistent relationship. FXF charges 0.40%/yr vs 0.20%/yr for RSP.
Performance
FXF vs. RSP - Performance Comparison
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Returns By Period
In the year-to-date period, FXF achieves a -2.29% return, which is significantly lower than RSP's 13.16% return. Over the past 10 years, FXF has underperformed RSP with an annualized return of 0.93%, while RSP has yielded a comparatively higher 11.94% annualized return.
FXF
- 1D
- -0.42%
- 1M
- -0.60%
- 6M
- -4.69%
- YTD
- -2.29%
- 1Y
- -0.92%
- 3Y*
- 2.38%
- 5Y*
- 1.77%
- 10Y*
- 0.93%
- ALL TIME*
- 1.67%
RSP
- 1D
- -0.17%
- 1M
- 0.05%
- 6M
- 9.43%
- YTD
- 13.16%
- 1Y
- 20.39%
- 3Y*
- 13.55%
- 5Y*
- 8.88%
- 10Y*
- 11.94%
- ALL TIME*
- 11.30%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.96M | $3.14M | $5.24M | |
| $1.86B | $1.85B | $2.06B |
FXF vs. RSP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXF Invesco CurrencyShares® Swiss Franc Trust | -2.29% | 14.04% | -7.46% | 9.63% | -2.29% | -4.08% | 8.18% | 0.32% | -2.01% | 3.31% |
RSP Invesco S&P 500 Equal Weight ETF | 13.16% | 11.21% | 12.79% | 13.70% | -11.62% | 29.41% | 12.66% | 28.91% | -7.84% | 18.52% |
Correlation
The correlation between FXF and RSP is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.21 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2006 | 0.04 |
Over the past year, FXF and RSP have become more correlated (0.24) than their long-term average of 0.04, meaning their price movements have been converging.
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Return for Risk
FXF vs. RSP — Risk / Return Rank
FXF
RSP
FXF vs. RSP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Swiss Franc Trust (FXF) and Invesco S&P 500 Equal Weight ETF (RSP). 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 | RSP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -2.33 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.29 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.00 | 2.43 | -2.44 |
| Martin ratioReturn relative to average drawdown | -0.01 | 9.43 | -9.44 |
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Drawdowns
FXF vs. RSP - Drawdown Comparison
The maximum FXF drawdown since its inception was -35.58%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for FXF and RSP.
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Drawdown Indicators
| FXF | RSP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.58% | -59.92% | +24.34% |
Max Drawdown (1Y)Largest decline over 1 year | -7.27% | -7.85% | +0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -8.52% | -17.81% | +9.29% |
Max Drawdown (5Y)Largest decline over 5 years | -11.76% | -21.38% | +9.62% |
Max Drawdown (10Y)Largest decline over 10 years | -15.04% | -39.04% | +24.00% |
Current DrawdownCurrent decline from peak | -20.24% | -1.23% | -19.01% |
Average DrawdownAverage peak-to-trough decline | -20.83% | -6.61% | -14.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 2.02% | +1.07% |
Volatility
FXF vs. RSP - Volatility Comparison
The current volatility for Invesco CurrencyShares® Swiss Franc Trust (FXF) is 2.25%, while Invesco S&P 500 Equal Weight ETF (RSP) has a volatility of 2.88%. This indicates that FXF experiences smaller price fluctuations and is considered to be less risky than RSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXF | RSP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.25% | 2.88% | -0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 5.10% | 8.59% | -3.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.38% | 11.76% | -4.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.33% | 16.16% | -7.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.57% | 18.28% | -10.71% |
FXF vs. RSP - Expense Ratio Comparison
FXF has a 0.40% expense ratio, which is higher than RSP's 0.20% expense ratio.
Dividends
FXF vs. RSP - Dividend Comparison
FXF has not paid dividends to shareholders, while RSP's dividend yield for the trailing twelve months is around 1.49%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
RSP Invesco S&P 500 Equal Weight ETF | 1.49% | 1.64% | 1.52% | 1.64% | 1.82% | 1.28% | 1.64% | 1.69% | 2.02% | 1.52% | 1.20% | 1.70% |
Frequently Asked Questions
FXF and RSP have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RSP has higher volatility (2.88%) compared to FXF (2.25%). In terms of maximum drawdown, FXF dropped -35.58% vs RSP's -59.92%.
On 10-year performance, RSP leads with 11.94% vs 0.93% for FXF. On fees, RSP is cheaper at 0.20% per year. On volatility, FXF has been the lower-risk option at 2.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RSP has performed better with a 11.94% return vs 0.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RSP is cheaper with a 0.20% expense ratio, compared with 0.40% for FXF.
RSP has the higher dividend yield at 1.49%, compared with 0.00% for FXF.
FXF is categorized as Currency, while RSP is S&P 500. FXF tracks Swiss Franc, while RSP tracks S&P 500 Equal Weight Index. Their fees differ too: 0.40% for FXF and 0.20% for RSP.
RSP currently has the higher Sharpe Ratio (1.63 vs -0.00), 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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