Invesco DB US Dollar Index Bearish Fund (UDN)

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

The chart shows the growth of an initial investment of $10,000 in Invesco DB US Dollar Index Bearish Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Invesco DB US Dollar Index Bearish Fund (UDN) has returned -1.32% so far this year and 5.59% over the past 12 months. Over the last ten years, UDN has returned -0.49% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Mar 1, 2007, UDN's average daily return is 0.00%, while the average monthly return is -0.04%.

Historically, 50% of months were positive and 50% were negative. The best month was Dec 2008 with a return of +6.3%, while the worst month was Oct 2008 at -7.9%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 9 months.

On a daily basis, UDN closed higher 48% of trading days. The best single day was Nov 24, 2008 with a return of +2.9%, while the worst single day was Jan 20, 2009 at -2.8%.

Invesco DB US Dollar Index Bearish Fund has an annualized alpha of -1.33%, beta of 0.09, and R² of 0.05 versus S&P 500 Index. Calculated based on daily prices since March 02, 2007.

• This ETF participated in 31.07% of S&P 500 Index downside but only 12.47% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.09 may look defensive, but with R² of 0.05 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
• R² of 0.05 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

UDN has an expense ratio of 0.77%, placing it in the medium range.

UDN ranks 38 for risk / return — below 38% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The table below present risk-adjusted performance metrics for Invesco DB US Dollar Index Bearish Fund (UDN) and compare them to a chosen benchmark (S&P 500 Index).

Invesco DB US Dollar Index Bearish Fund provided a 2.98% dividend yield over the last twelve months, with an annual payout of $0.54 per share.

The table displays the monthly dividend distributions for Invesco DB US Dollar Index Bearish Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Invesco DB US Dollar Index Bearish Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Invesco DB US Dollar Index Bearish Fund was 41.67%, occurring on Sep 27, 2022. The portfolio has not yet recovered.

The current Invesco DB US Dollar Index Bearish Fund drawdown is 28.22%.

The chart below shows the rolling one-month volatility.