HDB vs. FXF
HDB (HDFC Bank Limited) is a stock, while FXF (Invesco CurrencyShares® Swiss Franc Trust) is Currency fund tracking the Swiss Franc. Over the past 10 years, HDB returned 5.46%/yr vs 1.06%/yr for FXF. At a 0.06 correlation, their price movements are largely independent.
Performance
HDB vs. FXF - Performance Comparison
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Returns By Period
In the year-to-date period, HDB achieves a -33.85% return, which is significantly lower than FXF's -0.80% return. Over the past 10 years, HDB has outperformed FXF with an annualized return of 5.46%, while FXF has yielded a comparatively lower 1.06% annualized return.
HDB
- 1D
- 1.51%
- 1M
- -2.70%
- YTD
- -33.85%
- 6M
- -32.66%
- 1Y
- -33.11%
- 3Y*
- -7.62%
- 5Y*
- -7.24%
- 10Y*
- 5.46%
FXF
- 1D
- -0.15%
- 1M
- -1.65%
- YTD
- -0.80%
- 6M
- -0.32%
- 1Y
- 1.23%
- 3Y*
- 4.05%
- 5Y*
- 1.88%
- 10Y*
- 1.06%
HDB vs. FXF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HDB HDFC Bank Limited | -33.85% | 17.07% | -2.54% | 0.16% | 7.39% | -9.29% | 14.03% | 22.58% | 2.44% | 68.50% |
FXF Invesco CurrencyShares® Swiss Franc Trust | -0.80% | 14.04% | -7.46% | 9.63% | -2.29% | -4.08% | 8.18% | 0.32% | -2.01% | 3.31% |
Correlation
The correlation between HDB and FXF is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2006 | 0.06 |
The correlation between HDB and FXF shifts across timeframes, from 0.06 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HDB vs. FXF — Risk / Return Rank
HDB
FXF
HDB vs. FXF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HDFC Bank Limited (HDB) and Invesco CurrencyShares® Swiss Franc Trust (FXF). 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.
| HDB | FXF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.59 | ||
| Sortino ratioReturn per unit of downside risk | -2.45 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.03 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 0.25 | -1.10 |
| Martin ratioReturn relative to average drawdown | -1.74 | 0.54 | -2.28 |
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Drawdowns
HDB vs. FXF - Drawdown Comparison
The maximum HDB drawdown since its inception was -67.93%, which is greater than FXF's maximum drawdown of -35.58%. Use the drawdown chart below to compare losses from any high point for HDB and FXF.
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Drawdown Indicators
| HDB | FXF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.93% | -35.58% | -32.35% |
Max Drawdown (1Y)Largest decline over 1 year | -40.98% | -4.97% | -36.01% |
Max Drawdown (3Y)Largest decline over 3 years | -40.98% | -8.52% | -32.46% |
Max Drawdown (5Y)Largest decline over 5 years | -40.98% | -12.68% | -28.30% |
Max Drawdown (10Y)Largest decline over 10 years | -54.28% | -15.04% | -39.24% |
Current DrawdownCurrent decline from peak | -38.00% | -19.02% | -18.98% |
Average DrawdownAverage peak-to-trough decline | -13.80% | -20.83% | +7.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.09% | 2.28% | +17.81% |
Volatility
HDB vs. FXF - Volatility Comparison
HDFC Bank Limited (HDB) has a higher volatility of 8.37% compared to Invesco CurrencyShares® Swiss Franc Trust (FXF) at 1.81%. This indicates that HDB's price experiences larger fluctuations and is considered to be riskier than FXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDB | FXF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.37% | 1.81% | +6.56% |
Volatility (6M)Calculated over the trailing 6-month period | 21.09% | 5.56% | +15.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.57% | 7.49% | +17.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.84% | 8.33% | +18.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.07% | 7.57% | +21.50% |
Dividends
HDB vs. FXF - Dividend Comparison
HDB's dividend yield for the trailing twelve months is around 3.51%, while FXF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXF Invesco CurrencyShares® Swiss Franc Trust | 0.00% | 0.00% | 0.03% | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HDB HDFC Bank Limited | 3.51% | 2.32% | 2.19% | 2.06% | 1.70% | 0.81% | 0.00% | 0.17% | 0.55% | 0.49% | 0.66% | 0.58% |
Frequently Asked Questions
HDB and FXF have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDB has higher volatility (8.37%) compared to FXF (1.81%). In terms of maximum drawdown, HDB dropped -67.93% vs FXF's -35.58%.
FXF currently has the higher Sharpe Ratio (0.17 vs -1.42), 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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