IE
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USD Value
€16,105
EUR Value
€15,300
FX Impact
-€1,610
See how EUR/USD currency changes affect your US stock investment returns when converted back to euros.
USD value vs EUR value at changing exchange rates
Breaking down investment return vs FX impact
When you invest in US stocks as an Irish investor, your returns depend on both stock performance and the EUR/USD exchange rate. If the EUR weakens (rate falls), your USD gains are worth more in EUR. If the EUR strengthens (rate rises), your USD gains are worth less.
The FX impact is the difference between your investment value at the constant starting exchange rate versus the actual ending exchange rate. A 10% USD stock return combined with a 10% EUR appreciation could result in a near-zero EUR return.
Irish investors can hedge EUR/USD risk using currency-hedged ETFs, forward contracts, or by diversifying across non-US markets. Many global ETFs offer hedged share classes that neutralise currency fluctuations.
Use the current EUR/USD rate (~1.05 in 2026) as the starting rate. For the ending rate, consider analyst forecasts or try multiple scenarios. The 10-year range is 1.05–1.18.
Yes — US ETFs hold USD-denominated assets. Most Irish-domiciled US equity ETFs are unhedged, meaning you are exposed to EUR/USD fluctuations. Hedged share classes exist but have higher fees.
FX gains on US investments are subject to Irish CGT at 33% when you dispose of the investment. The gain is calculated in EUR terms, so FX impact is automatically included in your CGT calculation.
See how different EUR/USD outcomes affect your returns
10-year annual average range: 1.05 – 1.18 · Average: 1.11
Dotted lines show your start rate (1.05), end rate (0.95), and the 10-year average (1.11). Since 2022, EUR/USD has been in a lower range influenced by ECB monetary policy and USD strength.
Start with the amount you plan to invest in USD-denominated assets, your expected annual return in USD terms, and the investment timeframe in years.
The starting rate reflects today's EUR/USD exchange rate (~1.05 in 2026). The ending rate is your projection — will EUR strengthen (rate rises) or weaken (rate falls) over your investment horizon?
The calculator isolates the pure currency effect from your investment returns. You'll see the USD growth, the EUR-equivalent value at the projected rate, and the €-amount gained or lost purely from exchange rate movement.
With EUR/USD trading around 1.05 in 2026, Irish investors holding US stocks face a material currency risk. The 10-year average of 1.11 masks a wide range of 1.05–1.18, meaning FX moves of 10-15% are normal over multi-year periods.
For an Irish investor with a $10,000 US stock portfolio returning 10%/yr over 5 years, the FX impact at your projected rate of 0.95 amounts to €1,610 — that's real money that compounds alongside your investment returns.
Currency risk is one of the most overlooked factors in international investing. Use this calculator to stress-test your assumptions and decide whether currency-hedged ETFs, diversification, or simply staying the course is right for your portfolio.