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 -13.74%/yr vs -0.27%/yr for FXA. Their 0.09 correlation means their historical movements had little consistent relationship. GOVZ charges 0.15%/yr vs 0.40%/yr for FXA.
Performance
GOVZ vs. FXA - Performance Comparison
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Returns By Period
In the year-to-date period, GOVZ achieves a -4.46% return, which is significantly lower than FXA's 5.23% return.
GOVZ
- 1D
- -0.14%
- 1M
- -7.26%
- 6M
- -5.94%
- YTD
- -4.46%
- 1Y
- -2.02%
- 3Y*
- -8.60%
- 5Y*
- -13.74%
- 10Y*
- —
- ALL TIME*
- -13.84%
FXA
- 1D
- 0.20%
- 1M
- 1.28%
- 6M
- 1.75%
- YTD
- 5.23%
- 1Y
- 7.47%
- 3Y*
- 2.25%
- 5Y*
- -0.27%
- 10Y*
- -0.12%
- ALL TIME*
- 1.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $670.42K | $689.29K | $762.46K | |
| $5.86M | $5.64M | $8.53M |
GOVZ vs. FXA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | -4.46% | -1.81% | -16.24% | 0.90% | -41.03% | -4.86% | -5.61% |
FXA Invesco CurrencyShares Australian Dollar Trust | 5.23% | 9.10% | -7.75% | 1.20% | -6.46% | -6.17% | 8.93% |
Correlation
The correlation between GOVZ and FXA is 0.13, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.13 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | 0.09 |
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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 | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.15 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.08 | 1.45 | -1.52 |
| Martin ratioReturn relative to average drawdown | -0.15 | 3.59 | -3.74 |
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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.
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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% | -4.82% | -9.34% |
Max Drawdown (3Y)Largest decline over 3 years | -26.26% | -13.02% | -13.24% |
Max Drawdown (5Y)Largest decline over 5 years | -57.63% | -18.90% | -38.73% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.99% | — |
Current DrawdownCurrent decline from peak | -58.02% | -25.88% | -32.14% |
Average DrawdownAverage peak-to-trough decline | -40.28% | -18.86% | -21.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.03% | 1.97% | +5.06% |
Volatility
GOVZ vs. FXA - Volatility Comparison
iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a higher volatility of 3.06% compared to Invesco CurrencyShares Australian Dollar Trust (FXA) at 1.58%. 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.
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Volatility by Period
| GOVZ | FXA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.06% | 1.58% | +1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 6.38% | +4.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.45% | 7.92% | +7.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.75% | 10.39% | +13.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.17% | 9.84% | +13.33% |
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 5.38%, more than FXA's 1.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXA Invesco CurrencyShares Australian Dollar Trust | 1.00% | 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 | 5.38% | 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 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVZ has higher volatility (3.06%) compared to FXA (1.58%). In terms of maximum drawdown, GOVZ dropped -59.65% vs FXA's -40.97%.
On 5-year performance, FXA leads with -0.27% vs -13.74% for GOVZ. On fees, GOVZ is cheaper at 0.15% per year. On volatility, FXA has been the lower-risk option at 1.58%. 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 -0.27% return vs -13.74%. 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 5.38%, compared with 1.00% 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 (0.88 vs -0.07), 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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