FXE vs FXF

FXEBInvesco CurrencyShares Euro Trust

FXFCInvesco CurrencyShares Swiss Franc Trust

In short

FXE A 2005-vintage grantor trust that parks actual euros in a bank account and lets you buy them like a stock. Shares reflect the dollar price of the euro plus accrued interest, after trust expenses. No forex account, no futures roll.

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

FXE The Trust is designed to reflect the U.S.-dollar price of the euro, plus any accrued interest, after deducting Trust 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

• FXE Mechanically plain: the trust holds euro deposits, and shares reflect the U.S.-dollar price of the euro plus accrued interest, after expenses. No futures contracts, no roll schedule to babysit.invesco.com
• Trading is one of its strong suits for a thin corner of the market, and it stands among the better-executed vehicles in the small single-currency group.
• The 0.40% fee matches every CurrencyShares sibling (FXB, FXF, FXY, FXC) and sits right at the group median, so you are not paying up for the euro version.
• Listed since December 2005, which makes it one of the longest-tenured currency products on a US exchange.stockanalysis.com

• 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

• FXE Any income is just what the euro deposits earn after trust expenses, so distributions are irregular and can dry up when euro-area rates sit low.
• One currency, one exposure: everything rides on the euro versus the dollar, with no earnings or coupons underneath to cushion a move.
• It is a grantor trust, not a registered fund, so its structure and tax treatment differ from a standard ETF. The prospectus lays out the details.invesco.com

• 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 FXE profile⁠

Full FXF profile⁠