PSP vs. FXF
PSP (Invesco Global Listed Private Equity ETF) and FXF (Invesco CurrencyShares® Swiss Franc Trust) are both exchange-traded funds - PSP is a Global Equities fund tracking the Red Rocks Global Listed Private Equity Index, while FXF is a Currency fund tracking the Swiss Franc. Both are passively managed. Over the past 10 years, PSP returned 8.12%/yr vs 1.05%/yr for FXF. At a 0.14 correlation, their price movements are largely independent. PSP charges 1.44%/yr vs 0.40%/yr for FXF.
Performance
PSP vs. FXF - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PSP achieves a -11.42% return, which is significantly lower than FXF's -0.56% return. Over the past 10 years, PSP has outperformed FXF with an annualized return of 8.12%, while FXF has yielded a comparatively lower 1.05% annualized return.
PSP
- 1D
- 0.27%
- 1M
- -0.85%
- YTD
- -11.42%
- 6M
- -10.38%
- 1Y
- -5.41%
- 3Y*
- 9.76%
- 5Y*
- 0.38%
- 10Y*
- 8.12%
FXF
- 1D
- 0.23%
- 1M
- -1.07%
- YTD
- -0.56%
- 6M
- -0.05%
- 1Y
- 1.46%
- 3Y*
- 3.71%
- 5Y*
- 2.14%
- 10Y*
- 1.05%
PSP vs. FXF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSP Invesco Global Listed Private Equity ETF | -11.42% | 6.49% | 17.42% | 37.72% | -37.37% | 27.30% | 12.47% | 35.73% | -15.12% | 24.13% |
FXF Invesco CurrencyShares® Swiss Franc Trust | -0.56% | 14.04% | -7.46% | 9.63% | -2.29% | -4.08% | 8.18% | 0.32% | -2.01% | 3.31% |
Correlation
The correlation between PSP and FXF is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2006 | 0.14 |
The correlation between PSP and FXF shifts across timeframes, from 0.14 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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
PSP vs. FXF — Risk / Return Rank
PSP
FXF
PSP vs. FXF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) 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.
| PSP | FXF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.04 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | 0.30 | -0.54 |
| Martin ratioReturn relative to average drawdown | -0.54 | 0.64 | -1.18 |
Loading charts...
Drawdowns
PSP vs. FXF - Drawdown Comparison
The maximum PSP drawdown since its inception was -85.40%, which is greater than FXF's maximum drawdown of -35.58%. Use the drawdown chart below to compare losses from any high point for PSP and FXF.
Loading charts...
Drawdown Indicators
| PSP | FXF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.40% | -35.58% | -49.82% |
Max Drawdown (1Y)Largest decline over 1 year | -22.37% | -4.97% | -17.40% |
Max Drawdown (3Y)Largest decline over 3 years | -22.94% | -8.52% | -14.42% |
Max Drawdown (5Y)Largest decline over 5 years | -47.16% | -11.99% | -35.17% |
Max Drawdown (10Y)Largest decline over 10 years | -47.16% | -15.04% | -32.12% |
Current DrawdownCurrent decline from peak | -15.75% | -18.83% | +3.08% |
Average DrawdownAverage peak-to-trough decline | -30.67% | -20.83% | -9.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.12% | 2.29% | +7.83% |
Volatility
PSP vs. FXF - Volatility Comparison
Invesco Global Listed Private Equity ETF (PSP) has a higher volatility of 7.43% compared to Invesco CurrencyShares® Swiss Franc Trust (FXF) at 1.84%. This indicates that PSP'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.
Loading charts...
Volatility by Period
| PSP | FXF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.43% | 1.84% | +5.59% |
Volatility (6M)Calculated over the trailing 6-month period | 16.48% | 5.53% | +10.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.15% | 7.42% | +12.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.85% | 8.33% | +15.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.47% | 7.57% | +14.90% |
PSP vs. FXF - Expense Ratio Comparison
PSP has a 1.44% expense ratio, which is higher than FXF's 0.40% expense ratio.
Dividends
PSP vs. FXF - Dividend Comparison
PSP's dividend yield for the trailing twelve months is around 6.52%, 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% |
PSP Invesco Global Listed Private Equity ETF | 6.52% | 5.87% | 8.62% | 3.96% | 2.88% | 10.34% | 4.66% | 5.87% | 6.81% | 10.18% | 4.12% | 6.23% |
Frequently Asked Questions
PSP and FXF have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSP has higher volatility (7.43%) compared to FXF (1.84%). In terms of maximum drawdown, PSP dropped -85.40% vs FXF's -35.58%.
On 10-year performance, PSP leads with 8.12% vs 1.05% for FXF. On fees, FXF is cheaper at 0.40% per year. On volatility, FXF has been the lower-risk option at 1.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PSP has performed better with a 8.12% return vs 1.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXF is cheaper with a 0.40% expense ratio, compared with 1.44% for PSP.
PSP has the higher dividend yield at 6.52%, compared with 0.00% for FXF.
PSP is categorized as Global Equities, while FXF is Currency. PSP tracks Red Rocks Global Listed Private Equity Index, while FXF tracks Swiss Franc. Their fees differ too: 1.44% for PSP and 0.40% for FXF.
FXF currently has the higher Sharpe Ratio (0.20 vs -0.27), 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 PSP and FXF
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