FXY vs. SOXQ

Last updated Jun 24, 2026

FXY (Invesco CurrencyShares® Japanese Yen Trust) and SOXQ (Invesco PHLX Semiconductor ETF) are both exchange-traded funds - FXY is a Currency fund tracking the Japanese Yen, while SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index. Both are passively managed. Over the past 5 years, FXY returned -7.73%/yr vs 34.04%/yr for SOXQ. At a correlation of -0.01, they often move in opposite directions. FXY charges 0.40%/yr vs 0.19%/yr for SOXQ.

Performance

FXY vs. SOXQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco CurrencyShares® Japanese Yen Trust (FXY) 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, FXY achieves a -3.19% return, which is significantly lower than SOXQ's 90.62% return.

FXY

• 1D: 0.02%
• 1M: -1.56%
• YTD: -3.19%
• 6M: -3.45%
• 1Y: -9.88%
• 3Y*: -4.26%
• 5Y*: -7.73%
• 10Y*: -4.97%

SOXQ

• 1D: -7.82%
• 1M: 10.55%
• YTD: 90.62%
• 6M: 87.99%
• 1Y: 158.27%
• 3Y*: 57.61%
• 5Y*: 34.04%
• 10Y*: —

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

FXY vs. SOXQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FXY Invesco CurrencyShares® Japanese Yen Trust	-3.19%	0.09%	-10.93%	-7.44%	-12.75%	-5.38%
SOXQ Invesco PHLX Semiconductor ETF	90.62%	43.11%	20.16%	66.74%	-35.59%	25.19%

Correlation

The correlation between FXY and SOXQ is 0.05, 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	0.05
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (5Y) Calculated over the trailing 5-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Jun 11, 2021	-0.01

Return for Risk

FXY vs. SOXQ — Risk / Return Rank

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

FXY

FXY Risk / Return Rank: 1
FXY Sharpe Ratio Rank: 0
FXY Sortino Ratio Rank: 1
FXY Omega Ratio Rank: 1
FXY Calmar Ratio Rank: 2
FXY Martin Ratio Rank: 2

SOXQ

SOXQ Risk / Return Rank: 94
SOXQ Sharpe Ratio Rank: 96
SOXQ Sortino Ratio Rank: 90
SOXQ Omega Ratio Rank: 92
SOXQ Calmar Ratio Rank: 97
SOXQ Martin Ratio Rank: 96

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.

FXY vs. SOXQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Japanese Yen Trust (FXY) 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.

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	SOXQ	Difference
Sharpe ratio: Return per unit of total volatility	-1.21	4.11	-5.32
Sortino ratio: Return per unit of downside risk	-1.79	4.02	-5.82
Omega ratio: Gain probability vs. loss probability	0.81	1.58	-0.77
Calmar ratio: Return relative to maximum drawdown	-0.87	10.22	-11.08
Martin ratio: Return relative to average drawdown	-1.32	36.68	-38.00

FXY vs. SOXQ - Sharpe Ratio Comparison

The current FXY Sharpe Ratio is -1.21, which is lower than the SOXQ Sharpe Ratio of 4.11. The chart below compares the historical Sharpe Ratios of FXY 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.

Drawdowns

FXY vs. SOXQ - Drawdown Comparison

The maximum FXY drawdown since its inception was -56.35%, which is greater than SOXQ's maximum drawdown of -46.01%. Use the drawdown chart below to compare losses from any high point for FXY and SOXQ.

Drawdown Indicators

	FXY	SOXQ	Difference
Max Drawdown Largest peak-to-trough decline	-56.35%	-46.01%	-10.34%
Max Drawdown (1Y) Largest decline over 1 year	-11.45%	-15.59%	+4.14%
Max Drawdown (3Y) Largest decline over 3 years	-15.73%	-39.36%	+23.63%
Max Drawdown (5Y) Largest decline over 5 years	-34.19%	-46.01%	+11.82%
Max Drawdown (10Y) Largest decline over 10 years	-41.27%	—	—
Current Drawdown Current decline from peak	-56.34%	-7.82%	-48.52%
Average Drawdown Average peak-to-trough decline	-27.81%	-12.87%	-14.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.51%	4.33%	+3.18%

Volatility

FXY vs. SOXQ - Volatility Comparison

The current volatility for Invesco CurrencyShares® Japanese Yen Trust (FXY) is 0.79%, while Invesco PHLX Semiconductor ETF (SOXQ) has a volatility of 22.04%. This indicates that FXY 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

	FXY	SOXQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.79%	22.04%	-21.25%
Volatility (6M) Calculated over the trailing 6-month period	5.61%	32.49%	-26.88%
Volatility (1Y) Calculated over the trailing 1-year period	8.19%	38.78%	-30.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.24%	37.34%	-27.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.23%	37.24%	-28.01%

FXY vs. SOXQ - Expense Ratio Comparison

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

Dividends

FXY vs. SOXQ - Dividend Comparison

FXY has not paid dividends to shareholders, while SOXQ's dividend yield for the trailing twelve months is around 0.27%.

Position	TTM	2025	2024	2023	2022	2021
FXY Invesco CurrencyShares® Japanese Yen Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SOXQ Invesco PHLX Semiconductor ETF	0.27%	0.50%	0.68%	0.87%	1.36%	0.72%

Frequently Asked Questions

Can I hold both FXY and SOXQ in my portfolio?

FXY and SOXQ have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXY or SOXQ?

SOXQ has higher volatility (22.04%) compared to FXY (0.79%). In terms of maximum drawdown, FXY dropped -56.35% vs SOXQ's -46.01%.

Which ETF is better, FXY or SOXQ?

On 5-year performance, SOXQ leads with 34.04% vs -7.73% for FXY. On fees, SOXQ is cheaper at 0.19% per year. On volatility, FXY has been the lower-risk option at 0.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXY or SOXQ?

Over the 5-year period, SOXQ has performed better with a 34.04% return vs -7.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXY or SOXQ?

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

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

SOXQ has the higher dividend yield at 0.27%, compared with 0.00% for FXY.

What is the main difference between FXY and SOXQ?

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

Which has better risk-adjusted returns?

SOXQ currently has the higher Sharpe Ratio (4.11 vs -1.21), 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.