NOWL vs FXA

Comparison between GRANITESHARES 2X LONG NOW DAILY ETF (NOWL, ETF) and Invesco CurrencyShares Australian Dollar Trust (FXA, ETF).

NOWL vs FXA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NOWL(ETF)	FXA(ETF)
Net Assets	$106M	$106M
Expense Ratio	N/A	0.40%
Max Drawdown	86.57%	47.90%
Sharpe Ratio	-1.07	0.72
5Y Beta	1.57	0.25

Net Assets

Winner

NOWL

$106M

FXA

$106M

Expense Ratio

NOWL

N/A

FXA

0.40%

Max Drawdown

NOWL

86.57%

Winner

FXA

47.90%

Sharpe Ratio

NOWL

-1.07

Winner

FXA

0.72

5Y Beta

NOWL

1.57

Winner

FXA

0.25

NOWL vs FXA - Historical Returns

Returns include dividend reinvestment.

Period	NOWL	FXA
1 month	+38.66%	-1.79%
3 months	-28.54%	+0.70%
6 months	-68.75%	+6.63%
1 year	-76.70%	+9.30%
5 years(CAGR)	N/A	-1.11%
10 years(CAGR)	N/A	+0.16%
Max(CAGR)	-80.55%	+1.74%

Winner

NOWL

+38.66%

FXA

-1.79%

NOWL

-28.54%

Winner

FXA

+0.70%

NOWL

-68.75%

Winner

FXA

+6.63%

NOWL

-76.70%

Winner

FXA

+9.30%

5Y(CAGR)

NOWL

N/A

FXA

-1.11%

10Y(CAGR)

NOWL

N/A

FXA

+0.16%

Max(CAGR)

NOWL

-80.55%

Winner

FXA

+1.74%

NOWL vs FXA - Annual Returns (2006 - 2026)

Returns include dividend reinvestment.

Year	NOWL	FXA
2026	-56.00%	+5.65%
2025	-42.58%	+8.81%
2024	N/A	-6.94%
2023	N/A	+2.43%
2022	N/A	-5.42%
2021	N/A	-5.63%
2020	N/A	+10.01%
2019	N/A	+0.73%
2018	N/A	-9.19%
2017	N/A	+8.86%
2016	N/A	+1.31%
2015	N/A	-8.71%
2014	N/A	-6.72%
2013	N/A	-13.31%
2012	N/A	+3.23%
2011	N/A	+4.61%
2010	N/A	+16.03%
2009	N/A	+29.45%
2008	N/A	-14.79%
2007	N/A	+16.79%
2006	N/A	+10.78%

NOWL vs FXA Drawdown Comparison

The maximum drawdown for NOWL was -86.57%, occurring on Apr 23, 2026. This drawdown has not yet recovered.

The maximum drawdown for FXA was -40.97%, occurring on Mar 19, 2020. This drawdown has not yet recovered.

The current NOWL drawdown is -78.38%. The current FXA drawdown is -25.31%.

Rank	NOWL	FXA
#1	-86.57% Jul 24, 2025 - Apr 23, 2026	-40.97% Apr 11, 2013 - Mar 19, 2020
#2	-1.96% Jul 16, 2025 - Jul 24, 2025	-37.26% Jul 15, 2008 - Nov 16, 2009
#3	N/A	-12.87% Apr 14, 2010 - Sep 9, 2010
#4	N/A	-12.72% Jul 27, 2011 - Feb 7, 2012
#5	N/A	-10.37% Jul 25, 2007 - Sep 26, 2007
#6	N/A	-9.47% Mar 1, 2012 - Dec 14, 2012
#7	N/A	-7.46% Nov 7, 2007 - Feb 19, 2008
#8	N/A	-7.22% Nov 16, 2009 - Apr 6, 2010
#9	N/A	-5.41% Nov 4, 2010 - Dec 29, 2010
#10	N/A	-5.24% Feb 28, 2008 - Apr 22, 2008
#11	N/A	-4.20% Apr 29, 2011 - Jul 26, 2011
#12	N/A	-3.50% Jan 10, 2013 - Apr 10, 2013
#13	N/A	-3.47% Feb 28, 2011 - Mar 24, 2011
#14	N/A	-3.37% Dec 31, 2010 - Feb 25, 2011
#15	N/A	-3.30% Sep 5, 2006 - Oct 27, 2006

Correlation

Correlation between NOWL and FXA is -0.94 which considered as a very strong negative correlation - the stocks move almost identically in opposite directions.

-0.94

-101