FXF vs. SGOV
FXF (Invesco CurrencyShares® Swiss Franc Trust) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - FXF is a Currency fund tracking the Swiss Franc, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, FXF returned 1.77%/yr vs 3.66%/yr for SGOV. Their 0.01 correlation means their historical movements had little consistent relationship. FXF charges 0.40%/yr vs 0.09%/yr for SGOV.
Performance
FXF vs. SGOV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FXF achieves a -2.29% return, which is significantly lower than SGOV's 2.11% 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%
SGOV
- 1D
- 0.02%
- 1M
- 0.27%
- 6M
- 1.81%
- YTD
- 2.11%
- 1Y
- 3.83%
- 3Y*
- 4.64%
- 5Y*
- 3.66%
- 10Y*
- —
- ALL TIME*
- 2.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.96M | $3.14M | $5.24M | |
| $1.83B | $1.81B | $2.03B |
FXF vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FXF Invesco CurrencyShares® Swiss Franc Trust | -2.29% | 14.04% | -7.46% | 9.63% | -2.29% | -4.08% | 8.68% |
SGOV iShares 0-3 Month Treasury Bond ETF | 2.11% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between FXF and SGOV is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.04 |
Correlation (3Y) Balances recent behavior with more history. | 0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.03 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | 0.01 |
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. SGOV — Risk / Return Rank
FXF
SGOV
FXF vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Swiss Franc Trust (FXF) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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 | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -20.78 | ||
| Sortino ratioReturn per unit of downside risk | -381.76 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 382.06 | -381.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.00 | 389.90 | -389.90 |
| Martin ratioReturn relative to average drawdown | -0.01 | 6,177.21 | -6,177.21 |
Loading charts...
Drawdowns
FXF vs. SGOV - Drawdown Comparison
The maximum FXF drawdown since its inception was -35.58%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for FXF and SGOV.
Loading charts...
Drawdown Indicators
| FXF | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.58% | -0.03% | -35.55% |
Max Drawdown (1Y)Largest decline over 1 year | -7.27% | -0.01% | -7.26% |
Max Drawdown (3Y)Largest decline over 3 years | -8.52% | -0.01% | -8.51% |
Max Drawdown (5Y)Largest decline over 5 years | -11.76% | -0.03% | -11.73% |
Max Drawdown (10Y)Largest decline over 10 years | -15.04% | — | — |
Current DrawdownCurrent decline from peak | -20.24% | 0.00% | -20.24% |
Average DrawdownAverage peak-to-trough decline | -20.83% | 0.00% | -20.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 0.00% | +3.09% |
Volatility
FXF vs. SGOV - Volatility Comparison
Invesco CurrencyShares® Swiss Franc Trust (FXF) has a higher volatility of 2.25% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that FXF's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FXF | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.25% | 0.05% | +2.20% |
Volatility (6M)Calculated over the trailing 6-month period | 5.10% | 0.13% | +4.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.38% | 0.19% | +7.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.33% | 0.24% | +8.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.57% | 0.23% | +7.34% |
FXF vs. SGOV - Expense Ratio Comparison
FXF has a 0.40% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
FXF vs. SGOV - Dividend Comparison
FXF has not paid dividends to shareholders, while SGOV's dividend yield for the trailing twelve months is around 3.79%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FXF Invesco CurrencyShares® Swiss Franc Trust | 0.00% | 0.00% | 0.03% | 0.02% | 0.00% | 0.00% | 0.00% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.43% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
FXF and SGOV have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXF has higher volatility (2.25%) compared to SGOV (0.05%). In terms of maximum drawdown, FXF dropped -35.58% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.66% vs 1.77% for FXF. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SGOV has performed better with a 3.66% return vs 1.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.40% for FXF.
SGOV has the higher dividend yield at 3.43%, compared with 0.00% for FXF.
FXF is categorized as Currency, while SGOV is Ultrashort Bond. FXF tracks Swiss Franc, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.40% for FXF and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.78 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.
Find the right allocation for FXF and SGOV
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