SPXCY vs. FXY

Last updated Apr 2, 2026

Compare and contrast key facts about Singapore Exchange Ltd ADR (SPXCY) and Invesco CurrencyShares® Japanese Yen Trust (FXY).

FXY is a passively managed fund by Invesco that tracks the performance of the Japanese Yen. It was launched on Feb 12, 2007.

Performance

SPXCY vs. FXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Singapore Exchange Ltd ADR (SPXCY) and Invesco CurrencyShares® Japanese Yen Trust (FXY). The values are adjusted to include any dividend payments, if applicable.

SPXCY vs. FXY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPXCY Singapore Exchange Ltd ADR	19.43%	44.72%	31.77%	13.47%	-1.07%	2.94%	10.33%	30.40%	-1.39%	15.08%
FXY Invesco CurrencyShares® Japanese Yen Trust	-1.48%	0.09%	-10.93%	-7.44%	-12.75%	-10.90%	4.61%	0.37%	2.31%	3.17%

Returns By Period

In the year-to-date period, SPXCY achieves a 19.43% return, which is significantly higher than FXY's -1.48% return. Over the past 10 years, SPXCY has outperformed FXY with an annualized return of 14.53%, while FXY has yielded a comparatively lower -3.97% annualized return.

SPXCY

• 1D: 2.30%
• 1M: 9.94%
• YTD: 19.43%
• 6M: 21.82%
• 1Y: 63.60%
• 3Y*: 34.13%
• 5Y*: 19.74%
• 10Y*: 14.53%

FXY

• 1D: -0.14%
• 1M: -1.03%
• YTD: -1.48%
• 6M: -7.55%
• 1Y: -6.20%
• 3Y*: -6.24%
• 5Y*: -7.47%
• 10Y*: -3.97%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

SPXCY vs. FXY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPXCY

SPXCY Risk / Return Rank: 95
SPXCY Sharpe Ratio Rank: 95
SPXCY Sortino Ratio Rank: 95
SPXCY Omega Ratio Rank: 95
SPXCY Calmar Ratio Rank: 95
SPXCY Martin Ratio Rank: 96

FXY

FXY Risk / Return Rank: 4
FXY Sharpe Ratio Rank: 3
FXY Sortino Ratio Rank: 2
FXY Omega Ratio Rank: 3
FXY Calmar Ratio Rank: 4
FXY Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPXCY vs. FXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Singapore Exchange Ltd ADR (SPXCY) and Invesco CurrencyShares® Japanese Yen Trust (FXY). 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.

	SPXCY	FXY	Difference
Sharpe ratio Return per unit of total volatility	2.74	-0.61	+3.34
Sortino ratio Return per unit of downside risk	3.69	-0.82	+4.52
Omega ratio Gain probability vs. loss probability	1.49	0.91	+0.59
Calmar ratio Return relative to maximum drawdown	6.33	-0.48	+6.82
Martin ratio Return relative to average drawdown	17.91	-0.80	+18.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPXCY vs. FXY - Sharpe Ratio Comparison

The current SPXCY Sharpe Ratio is 2.74, which is higher than the FXY Sharpe Ratio of -0.61. The chart below compares the historical Sharpe Ratios of SPXCY and FXY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SPXCY	FXY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.74	-0.61	+3.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	-0.74	+1.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	-0.42	+1.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	-0.18	+0.77

Correlation

The correlation between SPXCY and FXY is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SPXCY vs. FXY - Dividend Comparison

SPXCY's dividend yield for the trailing twelve months is around 2.04%, while FXY has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPXCY Singapore Exchange Ltd ADR	2.04%	2.26%	2.83%	3.34%	3.47%	3.38%	3.92%	3.17%	4.30%	4.69%	7.69%	3.59%
FXY Invesco CurrencyShares® Japanese Yen Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SPXCY vs. FXY - Drawdown Comparison

The maximum SPXCY drawdown since its inception was -31.90%, smaller than the maximum FXY drawdown of -56.03%. Use the drawdown chart below to compare losses from any high point for SPXCY and FXY.

Drawdown Indicators

	SPXCY	FXY	Difference
Max Drawdown Largest peak-to-trough decline	-31.90%	-56.03%	+24.13%
Max Drawdown (1Y) Largest decline over 1 year	-9.57%	-12.45%	+2.88%
Max Drawdown (5Y) Largest decline over 5 years	-31.90%	-34.49%	+2.59%
Max Drawdown (10Y) Largest decline over 10 years	-31.90%	-40.84%	+8.94%
Current Drawdown Current decline from peak	0.00%	-55.57%	+55.57%
Average Drawdown Average peak-to-trough decline	-9.45%	-27.49%	+18.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	7.49%	-4.06%

Volatility

SPXCY vs. FXY - Volatility Comparison

Singapore Exchange Ltd ADR (SPXCY) has a higher volatility of 7.13% compared to Invesco CurrencyShares® Japanese Yen Trust (FXY) at 2.33%. This indicates that SPXCY's price experiences larger fluctuations and is considered to be riskier than FXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPXCY	FXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.13%	2.33%	+4.80%
Volatility (6M) Calculated over the trailing 6-month period	14.77%	6.07%	+8.70%
Volatility (1Y) Calculated over the trailing 1-year period	23.40%	10.25%	+13.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.66%	10.20%	+12.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.11%	9.47%	+13.64%