FXB vs FXF

FXBBInvesco CurrencyShares British Pound Sterling Trust

FXFCInvesco CurrencyShares Swiss Franc Trust

In short

FXB One-ticker access to the pound. FXB is a grantor trust whose value aims to reflect the dollar price of sterling, plus any accrued interest, less expenses. Live since 2006, it's an original in a very small corner of the ETF market.

FXF One of the original ways to own Swiss francs in a brokerage account. Running since 2006, this grantor trust simply tracks the dollar price of the franc, the currency markets reach for when the world gets loud.

Stated mandate

FXB The Trust seeks to reflect the U.S.-dollar price of British Pound Sterling, plus accrued interest if any, after deducting its expenses and liabilities.

FXF The Trust is designed to track the price of the Swiss franc. Its objective is to reflect the U.S.-dollar price of Swiss francs plus accrued interest, less applicable expenses.

Why people hold it

• FXB One job, plainly stated: reflect the dollar price of the pound, plus any accrued interest, after expenses. A grantor trust tied to sterling, not a manager's macro call.invesco.com
• 0.40% a year, the standard rate across Invesco's CurrencyShares lineup (FXE, FXF and FXY all charge the same) and right at the single-currency median.
• Trading since 2006, one of the longest continuous runs among single-currency funds, and one of the stronger implementations in that small group.
• Whatever interest accrues on the trust's sterling above expenses goes out on a monthly schedule rather than piling up inside the wrapper.

• FXF Pure single-currency exposure: the trust's value reflects the dollar price of Swiss francs plus accrued interest, less expenses. No stocks, bonds or index underneath.invesco.com
• The franc is the market's classic safe haven, sought out when geopolitics or markets turn turbulent.cnbc.com
• Trading since 2006, it is one of the longest-running single-currency products and sits in the upper half of a small field.
• At 0.40% a year it matches the typical single-currency fund and its CurrencyShares siblings FXE, FXB and FXY. Same sticker, different currency.

Worth knowing

• FXB Thinly traded next to mainstream ETFs, so spreads and order size matter more here than in a big index fund.
• One currency, one exposure. Sterling versus the dollar drives the entire result, and the 0.40% fee comes off the top each year.
• Interest is conditional, not fixed: payouts depend on what accrues on the trust's sterling after expenses, so the cadence is monthly but the amounts are not set.

• FXF Thinly traded next to mainstream ETFs, so bid/ask spreads and order size carry more weight here.
• Swiss rates sat below zero from 2015 to 2022. When franc interest is minimal, the 0.40% fee comes straight out of the franc balance.cnbc.com
• One exchange rate drives everything. No company earnings or bond coupons sit underneath the shares.

Full FXB profile⁠

Full FXF profile⁠