SPXCY vs. FXY
SPXCY (Singapore Exchange Ltd ADR) is a stock, while FXY (Invesco CurrencyShares® Japanese Yen Trust) is Currency fund tracking the Japanese Yen. Over the past 10 years, SPXCY returned 16.15%/yr vs -4.49%/yr for FXY. At a 0.03 correlation, their price movements are largely independent.
Performance
SPXCY vs. FXY - Performance Comparison
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Returns By Period
In the year-to-date period, SPXCY achieves a 33.31% return, which is significantly higher than FXY's -2.28% return. Over the past 10 years, SPXCY has outperformed FXY with an annualized return of 16.15%, while FXY has yielded a comparatively lower -4.49% annualized return.
SPXCY
- 1D
- 0.96%
- 1M
- 4.78%
- YTD
- 33.31%
- 6M
- 34.89%
- 1Y
- 63.11%
- 3Y*
- 39.45%
- 5Y*
- 21.00%
- 10Y*
- 16.15%
FXY
- 1D
- -0.17%
- 1M
- -1.89%
- YTD
- -2.28%
- 6M
- -3.30%
- 1Y
- -10.40%
- 3Y*
- -4.81%
- 5Y*
- -7.79%
- 10Y*
- -4.49%
SPXCY vs. FXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPXCY Singapore Exchange Ltd ADR | 33.31% | 44.72% | 31.77% | 13.47% | -1.07% | 2.94% | 10.33% | 30.40% | -1.39% | 15.08% |
FXY Invesco CurrencyShares® Japanese Yen Trust | -2.28% | 0.09% | -10.93% | -7.44% | -12.75% | -10.90% | 4.61% | 0.37% | 2.31% | 3.17% |
Correlation
The correlation between SPXCY and FXY is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since May 23, 2012 | 0.03 |
The correlation between SPXCY and FXY shifts across timeframes, from 0.03 (all time) to 0.15 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPXCY vs. FXY — Risk / Return Rank
SPXCY
FXY
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 ratioReturn per unit of total volatility | +4.34 | ||
| Sortino ratioReturn per unit of downside risk | +6.04 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 0.80 | +0.72 |
| Calmar ratioReturn relative to maximum drawdown | 8.03 | -0.94 | +8.97 |
| Martin ratioReturn relative to average drawdown | 19.23 | -1.39 | +20.62 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPXCY | FXY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.09 | -1.25 | +4.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | -0.76 | +1.70 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | -0.48 | +1.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | -0.18 | +0.81 |
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.
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Drawdown Indicators
| SPXCY | FXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.90% | -56.03% | +24.13% |
Max Drawdown (1Y)Largest decline over 1 year | -7.90% | -11.16% | +3.26% |
Max Drawdown (3Y)Largest decline over 3 years | -14.06% | -15.12% | +1.06% |
Max Drawdown (5Y)Largest decline over 5 years | -31.90% | -33.72% | +1.82% |
Max Drawdown (10Y)Largest decline over 10 years | -31.90% | -40.84% | +8.94% |
Current DrawdownCurrent decline from peak | -1.20% | -55.93% | +54.73% |
Average DrawdownAverage peak-to-trough decline | -9.35% | -27.74% | +18.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.29% | 7.50% | -4.21% |
Volatility
SPXCY vs. FXY - Volatility Comparison
Singapore Exchange Ltd ADR (SPXCY) has a higher volatility of 6.46% compared to Invesco CurrencyShares® Japanese Yen Trust (FXY) at 1.19%. 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.
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Volatility by Period
| SPXCY | FXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.46% | 1.19% | +5.27% |
Volatility (6M)Calculated over the trailing 6-month period | 15.32% | 5.75% | +9.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.54% | 8.38% | +12.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.61% | 10.24% | +12.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.12% | 9.33% | +13.79% |
Dividends
SPXCY vs. FXY - Dividend Comparison
SPXCY's dividend yield for the trailing twelve months is around 1.96%, while FXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPXCY Singapore Exchange Ltd ADR | 1.96% | 2.26% | 2.83% | 3.34% | 3.47% | 3.38% | 3.92% | 3.17% | 4.30% | 4.69% | 7.69% | 3.59% |
Frequently Asked Questions
SPXCY and FXY have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPXCY has higher volatility (6.46%) compared to FXY (1.19%). In terms of maximum drawdown, SPXCY dropped -31.90% vs FXY's -56.03%.
SPXCY currently has the higher Sharpe Ratio (3.09 vs -1.25), 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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