FXF vs. SOXQ

Last updated Jun 5, 2026

FXF (Invesco CurrencyShares® Swiss Franc Trust) and SOXQ (Invesco PHLX Semiconductor ETF) are both exchange-traded funds - FXF is a Currency fund tracking the Swiss Franc, while SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index. Both are passively managed. Over the past 3 years, FXF returned 4.38%/yr vs 59.09%/yr for SOXQ. At a 0.11 correlation, their price movements are largely independent. FXF charges 0.40%/yr vs 0.19%/yr for SOXQ.

Performance

FXF vs. SOXQ - Performance Comparison

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

Returns By Period

In the year-to-date period, FXF achieves a 0.11% return, which is significantly lower than SOXQ's 92.48% return.

FXF

• 1D: 0.31%
• 1M: -0.84%
• YTD: 0.11%
• 6M: 1.55%
• 1Y: 3.13%
• 3Y*: 4.38%
• 5Y*: 2.07%
• 10Y*: 1.22%

SOXQ

• 1D: -2.15%
• 1M: 24.08%
• YTD: 92.48%
• 6M: 89.00%
• 1Y: 171.59%
• 3Y*: 59.09%
• 5Y*: —
• 10Y*: —

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

FXF vs. SOXQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FXF Invesco CurrencyShares® Swiss Franc Trust	0.11%	14.04%	-7.46%	9.63%	-2.29%	-2.12%
SOXQ Invesco PHLX Semiconductor ETF	92.48%	43.11%	20.16%	66.74%	-35.59%	24.82%

Correlation

The correlation between FXF and SOXQ is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021	0.11

Return for Risk

FXF vs. SOXQ — Risk / Return Rank

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

FXF

FXF Risk / Return Rank: 16
FXF Sharpe Ratio Rank: 16
FXF Sortino Ratio Rank: 15
FXF Omega Ratio Rank: 15
FXF Calmar Ratio Rank: 17
FXF Martin Ratio Rank: 16

SOXQ

SOXQ Risk / Return Rank: 96
SOXQ Sharpe Ratio Rank: 98
SOXQ Sortino Ratio Rank: 95
SOXQ Omega Ratio Rank: 94
SOXQ Calmar Ratio Rank: 97
SOXQ Martin Ratio Rank: 97

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. SOXQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Swiss Franc Trust (FXF) and Invesco PHLX Semiconductor ETF (SOXQ). 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	SOXQ	Difference
Sharpe ratio: Return per unit of total volatility	0.42	5.11	-4.69
Sortino ratio: Return per unit of downside risk	0.70	5.02	-4.32
Omega ratio: Gain probability vs. loss probability	1.08	1.69	-0.61
Calmar ratio: Return relative to maximum drawdown	0.65	11.08	-10.43
Martin ratio: Return relative to average drawdown	1.45	42.47	-41.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FXF vs. SOXQ - Sharpe Ratio Comparison

The current FXF Sharpe Ratio is 0.42, which is lower than the SOXQ Sharpe Ratio of 5.11. The chart below compares the historical Sharpe Ratios of FXF and SOXQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FXF	SOXQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.42	5.11	-4.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.96	-0.79

Drawdowns

FXF vs. SOXQ - Drawdown Comparison

The maximum FXF drawdown since its inception was -35.58%, smaller than the maximum SOXQ drawdown of -46.01%. Use the drawdown chart below to compare losses from any high point for FXF and SOXQ.

Drawdown Indicators

	FXF	SOXQ	Difference
Max Drawdown Largest peak-to-trough decline	-35.58%	-46.01%	+10.43%
Max Drawdown (1Y) Largest decline over 1 year	-4.82%	-15.59%	+10.77%
Max Drawdown (3Y) Largest decline over 3 years	-8.52%	-39.36%	+30.84%
Max Drawdown (5Y) Largest decline over 5 years	-13.03%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-15.04%	—	—
Current Drawdown Current decline from peak	-18.28%	-2.15%	-16.13%
Average Drawdown Average peak-to-trough decline	-20.84%	-12.95%	-7.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	4.06%	-1.90%

Volatility

FXF vs. SOXQ - Volatility Comparison

The current volatility for Invesco CurrencyShares® Swiss Franc Trust (FXF) is 1.73%, while Invesco PHLX Semiconductor ETF (SOXQ) has a volatility of 13.55%. This indicates that FXF experiences smaller price fluctuations and is considered to be less risky than SOXQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXF	SOXQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.73%	13.55%	-11.82%
Volatility (6M) Calculated over the trailing 6-month period	5.56%	26.81%	-21.25%
Volatility (1Y) Calculated over the trailing 1-year period	7.45%	33.80%	-26.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.32%	36.38%	-28.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.57%	36.38%	-28.81%

FXF vs. SOXQ - Expense Ratio Comparison

FXF has a 0.40% expense ratio, which is higher than SOXQ's 0.19% expense ratio.

Dividends

FXF vs. SOXQ - Dividend Comparison

FXF has not paid dividends to shareholders, while SOXQ's dividend yield for the trailing twelve months is around 0.26%.

Position	TTM	2025	2024	2023	2022	2021
FXF Invesco CurrencyShares® Swiss Franc Trust	0.00%	0.00%	0.03%	0.02%	0.00%	0.00%
SOXQ Invesco PHLX Semiconductor ETF	0.26%	0.50%	0.68%	0.87%	1.36%	0.72%

Frequently Asked Questions

Can I hold both FXF and SOXQ in my portfolio?

FXF and SOXQ have a correlation of 0.09, 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 SOXQ?

SOXQ has higher volatility (13.55%) compared to FXF (1.73%). In terms of maximum drawdown, FXF dropped -35.58% vs SOXQ's -46.01%.

Which ETF is better, FXF or SOXQ?

On 3-year performance, SOXQ leads with 59.09% vs 4.38% for FXF. On fees, SOXQ is cheaper at 0.19% per year. On volatility, FXF has been the lower-risk option at 1.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXF or SOXQ?

Over the 3-year period, SOXQ has performed better with a 59.09% return vs 4.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXF or SOXQ?

SOXQ is cheaper with a 0.19% expense ratio, compared with 0.40% for FXF.

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

SOXQ has the higher dividend yield at 0.26%, compared with 0.00% for FXF.

What is the main difference between FXF and SOXQ?

FXF is categorized as Currency, while SOXQ is Semiconductors. FXF tracks Swiss Franc, while SOXQ tracks PHLX Semiconductor Sector Index. Their fees differ too: 0.40% for FXF and 0.19% for SOXQ.

Which has better risk-adjusted returns?

SOXQ currently has the higher Sharpe Ratio (5.11 vs 0.42), 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.