Invesco DB US Dollar Index Bearish Fund (UDN)
UDN is a passive ETF by Invesco tracking the investment results of the Deutsche Bank Short USD Currency Portfolio Index. UDN launched on Feb 20, 2007 and has a 0.77% expense ratio.
Expense Ratio
UDN has an expense ratio of 0.77%, placing it in the medium range.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
Invesco DB US Dollar Index Bearish Fund (UDN) returned 10.17% year-to-date (YTD) and 7.46% over the past 12 months. Over the past 10 years, UDN returned -0.42% annually, underperforming the S&P 500 benchmark at 10.85%.
UDN
10.17%
0.38%
7.28%
7.46%
2.67%
0.49%
-0.42%
^GSPC (Benchmark)
0.51%
6.15%
-2.00%
12.92%
12.68%
14.19%
10.85%
Monthly Returns
The table below presents the monthly returns of UDN, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.42% | 1.07% | 3.48% | 4.50% | 0.38% | 10.17% | |||||||
| 2024 | -1.95% | -0.33% | -0.11% | -1.56% | 1.93% | -0.86% | 2.12% | 2.49% | 1.12% | -2.90% | -1.74% | -2.63% | -4.53% |
| 2023 | 1.62% | -2.66% | 2.57% | 1.23% | -2.37% | 1.40% | 1.33% | -1.50% | -2.16% | -0.11% | 3.27% | 2.39% | 4.88% |
| 2022 | -1.04% | -0.20% | -1.75% | -4.79% | 1.55% | -3.00% | -1.14% | -2.75% | -3.39% | 0.82% | 5.62% | 2.25% | -7.96% |
| 2021 | -0.83% | -0.46% | -2.56% | 2.15% | 1.36% | -2.78% | 0.28% | -0.71% | -1.76% | 0.08% | -1.97% | 0.05% | -7.03% |
| 2020 | -1.22% | -0.73% | -0.63% | -0.20% | 0.60% | 0.85% | 4.10% | 1.12% | -1.90% | -0.12% | 2.11% | 2.18% | 6.17% |
| 2019 | 0.52% | -0.71% | -1.19% | -0.29% | -0.29% | 1.75% | -2.67% | -0.20% | -0.69% | 2.23% | -1.02% | 1.72% | -0.95% |
| 2018 | 3.31% | -1.69% | 0.53% | -2.10% | -2.53% | -0.62% | 0.05% | -0.69% | -0.05% | -2.07% | -0.19% | 1.06% | -5.02% |
| 2017 | 2.64% | -1.48% | 0.58% | 1.39% | 1.94% | 1.35% | 2.75% | 0.13% | -0.62% | -1.68% | 1.67% | 0.56% | 9.50% |
| 2016 | -0.98% | 1.46% | 3.72% | 1.69% | -2.94% | -0.27% | 0.55% | -0.63% | 0.64% | -3.08% | -3.46% | -1.02% | -4.48% |
| 2015 | -5.22% | -0.49% | -4.11% | 3.86% | -2.24% | 1.47% | -1.72% | 1.42% | -0.36% | -0.82% | -3.39% | 1.66% | -9.85% |
| 2014 | -1.48% | 2.02% | -0.55% | 0.78% | -1.06% | 0.81% | -2.20% | -1.67% | -3.92% | -1.23% | -1.81% | -2.46% | -12.20% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of UDN is 61, indicating average performance compared to other ETFs on our website. Here’s a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Invesco DB US Dollar Index Bearish Fund (UDN) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
Invesco DB US Dollar Index Bearish Fund provided a 4.83% dividend yield over the last twelve months, with an annual payout of $0.89 per share.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.89 | $0.89 | $0.96 | $0.13 | $0.00 | $0.00 | $0.28 | $0.27 | $0.02 |
Dividend yield | 4.83% | 5.33% | 5.21% | 0.69% | 0.00% | 0.00% | 1.38% | 1.26% | 0.11% |
Monthly Dividends
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.89 | $0.89 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.96 | $0.96 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.13 | $0.13 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2020 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2019 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.28 | $0.28 |
| 2018 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.27 | $0.27 |
| 2017 | $0.02 | $0.02 |
Drawdowns
Drawdowns Chart
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.
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Worst Drawdowns
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 28.68%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -41.67% | Mar 18, 2008 | 3659 | Sep 27, 2022 | — | — | — |
| -3.76% | Nov 27, 2007 | 15 | Dec 17, 2007 | 29 | Jan 30, 2008 | 44 |
| -2.66% | May 1, 2007 | 36 | Jun 20, 2007 | 7 | Jun 29, 2007 | 43 |
| -2.48% | Jan 31, 2008 | 6 | Feb 7, 2008 | 12 | Feb 26, 2008 | 18 |
| -1.77% | Jul 25, 2007 | 17 | Aug 16, 2007 | 14 | Sep 6, 2007 | 31 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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