GOVZ vs. FXA
GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) and FXA (Invesco CurrencyShares Australian Dollar Trust) are both exchange-traded funds - GOVZ is a Government Bonds fund tracking the ICE BofA Long US Treasury Principal STRIPS Index, while FXA is a Currency fund tracking the USD/AUD Exchange Rate. Both are passively managed. Over the past 5 years, GOVZ returned -11.86%/yr vs -0.53%/yr for FXA. At a 0.09 correlation, their price movements are largely independent. GOVZ charges 0.15%/yr vs 0.40%/yr for FXA.
Performance
GOVZ vs. FXA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GOVZ achieves a 0.80% return, which is significantly lower than FXA's 6.40% return.
GOVZ
- 1D
- 0.97%
- 1M
- 5.93%
- YTD
- 0.80%
- 6M
- -0.24%
- 1Y
- 5.04%
- 3Y*
- -7.39%
- 5Y*
- -11.86%
- 10Y*
- —
FXA
- 1D
- -0.03%
- 1M
- -1.00%
- YTD
- 6.40%
- 6M
- 7.01%
- 1Y
- 9.44%
- 3Y*
- 2.27%
- 5Y*
- -0.53%
- 10Y*
- 0.15%
GOVZ vs. FXA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 0.80% | -1.81% | -16.24% | 0.90% | -41.03% | -4.86% | -5.61% |
FXA Invesco CurrencyShares Australian Dollar Trust | 6.40% | 9.10% | -7.75% | 1.20% | -6.46% | -6.17% | 8.93% |
Correlation
The correlation between GOVZ and FXA is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | 0.09 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GOVZ vs. FXA — Risk / Return Rank
GOVZ
FXA
GOVZ vs. FXA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) and Invesco CurrencyShares Australian Dollar Trust (FXA). 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.
| GOVZ | FXA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.20 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.36 | 2.25 | -1.90 |
| Martin ratioReturn relative to average drawdown | 0.79 | 6.17 | -5.39 |
Loading charts...
Drawdowns
GOVZ vs. FXA - Drawdown Comparison
The maximum GOVZ drawdown since its inception was -59.65%, which is greater than FXA's maximum drawdown of -40.97%. Use the drawdown chart below to compare losses from any high point for GOVZ and FXA.
Loading charts...
Drawdown Indicators
| GOVZ | FXA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.65% | -40.97% | -18.68% |
Max Drawdown (1Y)Largest decline over 1 year | -14.16% | -4.21% | -9.95% |
Max Drawdown (3Y)Largest decline over 3 years | -28.72% | -13.02% | -15.70% |
Max Drawdown (5Y)Largest decline over 5 years | -57.63% | -19.32% | -38.31% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.99% | — |
Current DrawdownCurrent decline from peak | -55.70% | -25.05% | -30.65% |
Average DrawdownAverage peak-to-trough decline | -39.99% | -18.82% | -21.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.44% | 1.54% | +4.90% |
Volatility
GOVZ vs. FXA - Volatility Comparison
iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a higher volatility of 3.79% compared to Invesco CurrencyShares Australian Dollar Trust (FXA) at 2.32%. This indicates that GOVZ's price experiences larger fluctuations and is considered to be riskier than FXA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GOVZ | FXA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.79% | 2.32% | +1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 10.64% | 6.33% | +4.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.92% | 8.03% | +7.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.93% | 10.41% | +13.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.30% | 9.90% | +13.40% |
GOVZ vs. FXA - Expense Ratio Comparison
GOVZ has a 0.15% expense ratio, which is lower than FXA's 0.40% expense ratio.
Dividends
GOVZ vs. FXA - Dividend Comparison
GOVZ's dividend yield for the trailing twelve months is around 5.09%, more than FXA's 0.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXA Invesco CurrencyShares Australian Dollar Trust | 0.95% | 1.16% | 1.66% | 0.98% | 0.05% | 0.00% | 0.03% | 0.53% | 1.04% | 0.83% | 1.01% | 1.52% |
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 5.09% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GOVZ and FXA have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVZ has higher volatility (3.79%) compared to FXA (2.32%). In terms of maximum drawdown, GOVZ dropped -59.65% vs FXA's -40.97%.
On 5-year performance, FXA leads with -0.53% vs -11.86% for GOVZ. On fees, GOVZ is cheaper at 0.15% per year. On volatility, FXA has been the lower-risk option at 2.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FXA has performed better with a -0.53% return vs -11.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOVZ is cheaper with a 0.15% expense ratio, compared with 0.40% for FXA.
GOVZ has the higher dividend yield at 5.09%, compared with 0.95% for FXA.
GOVZ is categorized as Government Bonds, while FXA is Currency. GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index, while FXA tracks USD/AUD Exchange Rate. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for GOVZ and 0.40% for FXA.
FXA currently has the higher Sharpe Ratio (1.18 vs 0.32), 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.
Find the right allocation for GOVZ and FXA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer