FXY vs. BND
Compare and contrast key facts about Invesco CurrencyShares® Japanese Yen Trust (FXY) and Vanguard Total Bond Market ETF (BND).
FXY and BND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FXY is a passively managed fund by Invesco that tracks the performance of the Japanese Yen. It was launched on Feb 12, 2007. BND is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Aggregate Float Adjusted Index. It was launched on Apr 3, 2007. Both FXY and BND are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FXY vs. BND - Performance Comparison
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FXY vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXY Invesco CurrencyShares® Japanese Yen Trust | -1.48% | 0.09% | -10.93% | -7.44% | -12.75% | -10.90% | 4.61% | 0.37% | 2.31% | 3.17% |
BND Vanguard Total Bond Market ETF | 0.09% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Returns By Period
In the year-to-date period, FXY achieves a -1.48% return, which is significantly lower than BND's 0.09% return. Over the past 10 years, FXY has underperformed BND with an annualized return of -3.97%, while BND has yielded a comparatively higher 1.68% annualized return.
FXY
- 1D
- -0.14%
- 1M
- -1.03%
- YTD
- -1.48%
- 6M
- -7.55%
- 1Y
- -6.20%
- 3Y*
- -6.24%
- 5Y*
- -7.47%
- 10Y*
- -3.97%
BND
- 1D
- 0.04%
- 1M
- -1.30%
- YTD
- 0.09%
- 6M
- 0.74%
- 1Y
- 3.96%
- 3Y*
- 3.60%
- 5Y*
- 0.25%
- 10Y*
- 1.68%
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FXY vs. BND - Expense Ratio Comparison
FXY has a 0.40% expense ratio, which is higher than BND's 0.03% expense ratio.
Return for Risk
FXY vs. BND — Risk / Return Rank
FXY
BND
FXY vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Japanese Yen Trust (FXY) and Vanguard Total Bond Market ETF (BND). 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.
| FXY | BND | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.61 | 0.93 | -1.53 |
Sortino ratioReturn per unit of downside risk | -0.82 | 1.32 | -2.14 |
Omega ratioGain probability vs. loss probability | 0.91 | 1.16 | -0.26 |
Calmar ratioReturn relative to maximum drawdown | -0.48 | 1.75 | -2.24 |
Martin ratioReturn relative to average drawdown | -0.80 | 4.78 | -5.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FXY | BND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.61 | 0.93 | -1.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.74 | 0.04 | -0.78 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.42 | 0.30 | -0.73 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.18 | 0.59 | -0.77 |
Correlation
The correlation between FXY and BND is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
FXY vs. BND - Dividend Comparison
FXY has not paid dividends to shareholders, while BND's dividend yield for the trailing twelve months is around 3.93%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXY Invesco CurrencyShares® Japanese Yen Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BND Vanguard Total Bond Market ETF | 3.93% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
Drawdowns
FXY vs. BND - Drawdown Comparison
The maximum FXY drawdown since its inception was -56.03%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for FXY and BND.
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Drawdown Indicators
| FXY | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.03% | -18.58% | -37.45% |
Max Drawdown (1Y)Largest decline over 1 year | -12.45% | -2.44% | -10.01% |
Max Drawdown (5Y)Largest decline over 5 years | -34.49% | -17.91% | -16.58% |
Max Drawdown (10Y)Largest decline over 10 years | -40.84% | -18.58% | -22.26% |
Current DrawdownCurrent decline from peak | -55.57% | -2.54% | -53.03% |
Average DrawdownAverage peak-to-trough decline | -27.49% | -3.07% | -24.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.49% | 0.90% | +6.59% |
Volatility
FXY vs. BND - Volatility Comparison
Invesco CurrencyShares® Japanese Yen Trust (FXY) has a higher volatility of 2.33% compared to Vanguard Total Bond Market ETF (BND) at 1.63%. This indicates that FXY's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXY | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.33% | 1.63% | +0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 6.07% | 2.52% | +3.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.25% | 4.30% | +5.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.20% | 6.00% | +4.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.47% | 5.52% | +3.95% |