FXY vs. IDMO
FXY (Invesco CurrencyShares® Japanese Yen Trust) and IDMO (Invesco S&P International Developed Momentum ETF) are both exchange-traded funds - FXY is a Currency fund tracking the Japanese Yen, while IDMO is a Momentum fund tracking the S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index. Both are passively managed. Over the past 10 years, FXY returned -4.66%/yr vs 12.40%/yr for IDMO. At a 0.02 correlation, their price movements are largely independent. FXY charges 0.40%/yr vs 0.25%/yr for IDMO.
Performance
FXY vs. IDMO - Performance Comparison
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Returns By Period
In the year-to-date period, FXY achieves a -3.68% return, which is significantly lower than IDMO's 7.56% return. Over the past 10 years, FXY has underperformed IDMO with an annualized return of -4.66%, while IDMO has yielded a comparatively higher 12.40% annualized return.
FXY
- 1D
- 0.11%
- 1M
- -1.02%
- 6M
- -2.87%
- YTD
- -3.68%
- 1Y
- -8.78%
- 3Y*
- -5.50%
- 5Y*
- -7.96%
- 10Y*
- -4.66%
IDMO
- 1D
- -0.66%
- 1M
- -2.44%
- 6M
- 4.42%
- YTD
- 7.56%
- 1Y
- 20.05%
- 3Y*
- 24.23%
- 5Y*
- 15.34%
- 10Y*
- 12.40%
FXY vs. IDMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXY Invesco CurrencyShares® Japanese Yen Trust | -3.68% | 0.09% | -10.93% | -7.44% | -12.75% | -10.90% | 4.61% | 0.37% | 2.31% | 3.17% |
IDMO Invesco S&P International Developed Momentum ETF | 7.56% | 42.17% | 12.79% | 20.16% | -12.03% | 14.31% | 22.01% | 26.09% | -16.66% | 29.21% |
Correlation
The correlation between FXY and IDMO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2012 | 0.02 |
Over the past year, FXY and IDMO have become more correlated (0.32) than their long-term average of 0.02, meaning their price movements have been converging.
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Return for Risk
FXY vs. IDMO — Risk / Return Rank
FXY
IDMO
FXY vs. IDMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Japanese Yen Trust (FXY) and Invesco S&P International Developed Momentum ETF (IDMO). 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.
| FXY | IDMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.19 | ||
| Sortino ratioReturn per unit of downside risk | -3.27 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.20 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 1.64 | -2.50 |
| Martin ratioReturn relative to average drawdown | -1.37 | 6.39 | -7.77 |
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Drawdowns
FXY vs. IDMO - Drawdown Comparison
The maximum FXY drawdown since its inception was -56.62%, which is greater than IDMO's maximum drawdown of -39.38%. Use the drawdown chart below to compare losses from any high point for FXY and IDMO.
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Drawdown Indicators
| FXY | IDMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.62% | -39.38% | -17.24% |
Max Drawdown (1Y)Largest decline over 1 year | -10.21% | -12.31% | +2.10% |
Max Drawdown (3Y)Largest decline over 3 years | -15.50% | -12.65% | -2.85% |
Max Drawdown (5Y)Largest decline over 5 years | -34.61% | -27.07% | -7.54% |
Max Drawdown (10Y)Largest decline over 10 years | -41.64% | -31.34% | -10.30% |
Current DrawdownCurrent decline from peak | -56.56% | -4.56% | -52.00% |
Average DrawdownAverage peak-to-trough decline | -27.91% | -9.70% | -18.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.40% | 3.14% | +3.26% |
Volatility
FXY vs. IDMO - Volatility Comparison
The current volatility for Invesco CurrencyShares® Japanese Yen Trust (FXY) is 1.52%, while Invesco S&P International Developed Momentum ETF (IDMO) has a volatility of 5.90%. This indicates that FXY experiences smaller price fluctuations and is considered to be less risky than IDMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXY | IDMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 5.90% | -4.38% |
Volatility (6M)Calculated over the trailing 6-month period | 5.45% | 16.88% | -11.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.01% | 18.54% | -10.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.23% | 18.13% | -7.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.17% | 17.89% | -8.72% |
FXY vs. IDMO - Expense Ratio Comparison
FXY has a 0.40% expense ratio, which is higher than IDMO's 0.25% expense ratio.
Dividends
FXY vs. IDMO - Dividend Comparison
FXY has not paid dividends to shareholders, while IDMO's dividend yield for the trailing twelve months is around 3.72%.
| Position | 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% |
IDMO Invesco S&P International Developed Momentum ETF | 3.72% | 3.71% | 2.24% | 2.89% | 3.66% | 1.81% | 1.63% | 2.78% | 3.27% | 3.08% | 2.18% | 2.52% |
Frequently Asked Questions
FXY and IDMO have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IDMO has higher volatility (5.90%) compared to FXY (1.52%). In terms of maximum drawdown, FXY dropped -56.62% vs IDMO's -39.38%.
On 10-year performance, IDMO leads with 12.40% vs -4.66% for FXY. On fees, IDMO is cheaper at 0.25% per year. On volatility, FXY has been the lower-risk option at 1.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IDMO has performed better with a 12.40% return vs -4.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IDMO is cheaper with a 0.25% expense ratio, compared with 0.40% for FXY.
IDMO has the higher dividend yield at 3.72%, compared with 0.00% for FXY.
FXY is categorized as Currency, while IDMO is Momentum. FXY tracks Japanese Yen, while IDMO tracks S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index. Their fees differ too: 0.40% for FXY and 0.25% for IDMO.
IDMO currently has the higher Sharpe Ratio (1.09 vs -1.10), 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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