IEI vs. FXF
IEI (iShares 3-7 Year Treasury Bond ETF) and FXF (Invesco CurrencyShares® Swiss Franc Trust) are both exchange-traded funds - IEI is a Government Bonds fund tracking the ICE U.S. Treasury 3-7 Year Bond Index, while FXF is a Currency fund tracking the Swiss Franc. Both are passively managed. Over the past 10 years, IEI returned 1.24%/yr vs 1.06%/yr for FXF. At a 0.27 correlation, their price movements are largely independent. IEI charges 0.15%/yr vs 0.40%/yr for FXF.
Performance
IEI vs. FXF - Performance Comparison
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Returns By Period
In the year-to-date period, IEI achieves a -0.30% return, which is significantly higher than FXF's -0.80% return. Over the past 10 years, IEI has outperformed FXF with an annualized return of 1.24%, while FXF has yielded a comparatively lower 1.06% annualized return.
IEI
- 1D
- -0.12%
- 1M
- -0.00%
- YTD
- -0.30%
- 6M
- -0.00%
- 1Y
- 2.97%
- 3Y*
- 3.77%
- 5Y*
- 0.21%
- 10Y*
- 1.24%
FXF
- 1D
- -0.15%
- 1M
- -1.88%
- YTD
- -0.80%
- 6M
- -0.32%
- 1Y
- 1.23%
- 3Y*
- 4.05%
- 5Y*
- 1.88%
- 10Y*
- 1.06%
IEI vs. FXF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | -0.30% | 6.96% | 1.81% | 4.42% | -9.51% | -2.54% | 6.95% | 5.71% | 1.36% | 1.22% |
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 IEI and FXF is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2007 | 0.27 |
The correlation between IEI and FXF shifts across timeframes, from 0.27 (all time) to 0.44 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IEI vs. FXF — Risk / Return Rank
IEI
FXF
IEI vs. FXF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 3-7 Year Treasury Bond ETF (IEI) 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.
| IEI | FXF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.03 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 0.25 | +0.94 |
| Martin ratioReturn relative to average drawdown | 3.35 | 0.54 | +2.81 |
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Drawdowns
IEI vs. FXF - Drawdown Comparison
The maximum IEI drawdown since its inception was -14.60%, smaller than the maximum FXF drawdown of -35.58%. Use the drawdown chart below to compare losses from any high point for IEI and FXF.
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Drawdown Indicators
| IEI | FXF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.60% | -35.58% | +20.98% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -4.97% | +2.47% |
Max Drawdown (3Y)Largest decline over 3 years | -3.66% | -8.52% | +4.86% |
Max Drawdown (5Y)Largest decline over 5 years | -13.88% | -12.68% | -1.20% |
Max Drawdown (10Y)Largest decline over 10 years | -14.60% | -15.04% | +0.44% |
Current DrawdownCurrent decline from peak | -1.74% | -19.02% | +17.28% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -20.83% | +18.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 2.28% | -1.39% |
Volatility
IEI vs. FXF - Volatility Comparison
The current volatility for iShares 3-7 Year Treasury Bond ETF (IEI) is 0.98%, while Invesco CurrencyShares® Swiss Franc Trust (FXF) has a volatility of 1.81%. This indicates that IEI experiences smaller price fluctuations and is considered to be less risky 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
| IEI | FXF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 1.81% | -0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 2.18% | 5.56% | -3.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.00% | 7.49% | -4.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.78% | 8.33% | -3.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.93% | 7.57% | -3.64% |
IEI vs. FXF - Expense Ratio Comparison
IEI has a 0.15% expense ratio, which is lower than FXF's 0.40% expense ratio.
Dividends
IEI vs. FXF - Dividend Comparison
IEI's dividend yield for the trailing twelve months is around 3.64%, 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% |
IEI iShares 3-7 Year Treasury Bond ETF | 3.64% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
Frequently Asked Questions
IEI and FXF have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXF has higher volatility (1.81%) compared to IEI (0.98%). In terms of maximum drawdown, IEI dropped -14.60% vs FXF's -35.58%.
On 10-year performance, IEI leads with 1.24% vs 1.06% for FXF. On fees, IEI is cheaper at 0.15% per year. On volatility, IEI has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IEI has performed better with a 1.24% return vs 1.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEI is cheaper with a 0.15% expense ratio, compared with 0.40% for FXF.
IEI has the higher dividend yield at 3.64%, compared with 0.00% for FXF.
IEI is categorized as Government Bonds, while FXF is Currency. IEI tracks ICE U.S. Treasury 3-7 Year Bond Index, while FXF tracks Swiss Franc. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for IEI and 0.40% for FXF.
IEI currently has the higher Sharpe Ratio (1.00 vs 0.17), 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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