FXF vs. VDE
FXF (Invesco CurrencyShares® Swiss Franc Trust) and VDE (Vanguard Energy ETF) are both exchange-traded funds - FXF is a Currency fund tracking the Swiss Franc, while VDE is a Energy Equities fund tracking the MSCI US Investable Market Energy 25/50 Index. Both are passively managed. Over the past 10 years, FXF returned 1.08%/yr vs 9.81%/yr for VDE. Their 0.07 correlation means their historical movements had little consistent relationship. FXF charges 0.40%/yr vs 0.09%/yr for VDE.
Performance
FXF vs. VDE - Performance Comparison
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Returns By Period
In the year-to-date period, FXF achieves a -3.50% return, which is significantly lower than VDE's 35.27% return. Over the past 10 years, FXF has underperformed VDE with an annualized return of 1.08%, while VDE has yielded a comparatively higher 9.81% annualized return.
FXF
- 1D
- -0.17%
- 1M
- -1.09%
- 6M
- -4.81%
- YTD
- -3.50%
- 1Y
- -3.38%
- 3Y*
- 1.52%
- 5Y*
- 1.83%
- 10Y*
- 1.08%
- ALL TIME*
- 1.60%
VDE
- 1D
- 0.04%
- 1M
- 10.29%
- 6M
- 22.82%
- YTD
- 35.27%
- 1Y
- 41.64%
- 3Y*
- 15.31%
- 5Y*
- 24.05%
- 10Y*
- 9.81%
- ALL TIME*
- 8.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.99M | $3.23M | $5.41M | |
| $71.54M | $103.66M | $111.94M |
FXF vs. VDE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXF Invesco CurrencyShares® Swiss Franc Trust | -3.50% | 14.04% | -7.46% | 9.63% | -2.29% | -4.08% | 8.18% | 0.32% | -2.01% | 3.31% |
VDE Vanguard Energy ETF | 35.27% | 7.11% | 6.75% | 0.03% | 62.89% | 56.31% | -33.02% | 9.28% | -19.95% | -2.50% |
Correlation
The correlation between FXF and VDE is -0.12, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.12 |
Correlation (3Y) Balances recent behavior with more history. | -0.05 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.04 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2006 | 0.07 |
The correlation between FXF and VDE shifts across timeframes, from -0.12 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FXF vs. VDE — Risk / Return Rank
FXF
VDE
FXF vs. VDE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Swiss Franc Trust (FXF) and Vanguard Energy ETF (VDE). 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 | VDE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.45 | ||
| Sortino ratioReturn per unit of downside risk | -3.21 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.32 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 2.74 | -3.22 |
| Martin ratioReturn relative to average drawdown | -1.15 | 7.34 | -8.50 |
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Drawdowns
FXF vs. VDE - Drawdown Comparison
The maximum FXF drawdown since its inception was -35.58%, smaller than the maximum VDE drawdown of -74.20%. Use the drawdown chart below to compare losses from any high point for FXF and VDE.
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Drawdown Indicators
| FXF | VDE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.58% | -74.20% | +38.62% |
Max Drawdown (1Y)Largest decline over 1 year | -7.15% | -15.04% | +7.89% |
Max Drawdown (3Y)Largest decline over 3 years | -8.52% | -21.41% | +12.89% |
Max Drawdown (5Y)Largest decline over 5 years | -11.99% | -26.58% | +14.59% |
Max Drawdown (10Y)Largest decline over 10 years | -15.04% | -69.29% | +54.25% |
Current DrawdownCurrent decline from peak | -21.23% | -4.29% | -16.94% |
Average DrawdownAverage peak-to-trough decline | -20.83% | -19.90% | -0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 5.59% | -2.61% |
Volatility
FXF vs. VDE - Volatility Comparison
The current volatility for Invesco CurrencyShares® Swiss Franc Trust (FXF) is 1.75%, while Vanguard Energy ETF (VDE) has a volatility of 5.13%. This indicates that FXF experiences smaller price fluctuations and is considered to be less risky than VDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXF | VDE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.75% | 5.13% | -3.38% |
Volatility (6M)Calculated over the trailing 6-month period | 5.46% | 16.34% | -10.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.39% | 20.76% | -13.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.31% | 26.14% | -17.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.57% | 29.90% | -22.33% |
FXF vs. VDE - Expense Ratio Comparison
FXF has a 0.40% expense ratio, which is higher than VDE's 0.09% expense ratio.
Dividends
FXF vs. VDE - Dividend Comparison
FXF has not paid dividends to shareholders, while VDE's dividend yield for the trailing twelve months is around 2.39%.
| 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% |
VDE Vanguard Energy ETF | 2.39% | 3.11% | 3.23% | 3.34% | 3.65% | 4.13% | 4.76% | 3.42% | 3.35% | 2.90% | 2.31% | 3.17% |
Frequently Asked Questions
FXF and VDE have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VDE has higher volatility (5.13%) compared to FXF (1.75%). In terms of maximum drawdown, FXF dropped -35.58% vs VDE's -74.20%.
On 10-year performance, VDE leads with 9.81% vs 1.08% for FXF. On fees, VDE is cheaper at 0.09% per year. On volatility, FXF has been the lower-risk option at 1.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VDE has performed better with a 9.81% return vs 1.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VDE is cheaper with a 0.09% expense ratio, compared with 0.40% for FXF.
VDE has the higher dividend yield at 2.39%, compared with 0.00% for FXF.
FXF is categorized as Currency, while VDE is Energy Equities. FXF tracks Swiss Franc, while VDE tracks MSCI US Investable Market Energy 25/50 Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.40% for FXF and 0.09% for VDE.
VDE currently has the higher Sharpe Ratio (1.98 vs -0.47), 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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