AVNM vs. UUP
AVNM (Avantis All International Markets Equity ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - AVNM is a Foreign Large Cap Equities fund actively managed by Avantis, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. AVNM is actively managed, while UUP is passively managed. Over the past 3 years, AVNM returned 19.49%/yr vs 5.86%/yr for UUP. At a correlation of -0.55, they often move in opposite directions. AVNM charges 0.31%/yr vs 0.75%/yr for UUP.
Performance
AVNM vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, AVNM achieves a 11.92% return, which is significantly higher than UUP's 5.44% return.
AVNM
- 1D
- -1.49%
- 1M
- -2.34%
- 6M
- 7.93%
- YTD
- 11.92%
- 1Y
- 27.33%
- 3Y*
- 19.49%
- 5Y*
- —
- 10Y*
- —
UUP
- 1D
- 0.39%
- 1M
- 1.97%
- 6M
- 4.47%
- YTD
- 5.44%
- 1Y
- 8.28%
- 3Y*
- 5.86%
- 5Y*
- 5.89%
- 10Y*
- 3.17%
AVNM vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AVNM Avantis All International Markets Equity ETF | 11.92% | 38.30% | 5.52% | 8.60% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 1.55% |
Correlation
The correlation between AVNM and UUP is -0.56, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.55 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2023 | -0.55 |
The correlation between AVNM and UUP has been stable across timeframes, ranging from -0.56 to -0.55 - a consistent structural relationship.
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Return for Risk
AVNM vs. UUP — Risk / Return Rank
AVNM
UUP
AVNM vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis All International Markets Equity ETF (AVNM) and Invesco DB US Dollar Index Bullish Fund (UUP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AVNM | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.25 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 2.28 | +0.09 |
| Martin ratioReturn relative to average drawdown | 8.89 | 6.26 | +2.63 |
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Drawdowns
AVNM vs. UUP - Drawdown Comparison
The maximum AVNM drawdown since its inception was -14.03%, smaller than the maximum UUP drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for AVNM and UUP.
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Drawdown Indicators
| AVNM | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.03% | -22.19% | +8.16% |
Max Drawdown (1Y)Largest decline over 1 year | -11.59% | -3.65% | -7.94% |
Max Drawdown (3Y)Largest decline over 3 years | -14.03% | -10.05% | -3.98% |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.37% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.24% | — |
Current DrawdownCurrent decline from peak | -3.62% | -1.26% | -2.36% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -8.88% | +6.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 1.33% | +1.75% |
Volatility
AVNM vs. UUP - Volatility Comparison
Avantis All International Markets Equity ETF (AVNM) has a higher volatility of 5.76% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.45%. This indicates that AVNM's price experiences larger fluctuations and is considered to be riskier than UUP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVNM | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.76% | 1.45% | +4.31% |
Volatility (6M)Calculated over the trailing 6-month period | 14.25% | 4.34% | +9.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.11% | 6.03% | +10.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.15% | 7.22% | +7.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.15% | 6.90% | +8.25% |
AVNM vs. UUP - Expense Ratio Comparison
AVNM has a 0.31% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
AVNM vs. UUP - Dividend Comparison
AVNM's dividend yield for the trailing twelve months is around 2.39%, less than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
AVNM Avantis All International Markets Equity ETF | 2.39% | 2.76% | 3.51% | 1.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.25% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
Frequently Asked Questions
AVNM and UUP have a correlation of -0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVNM has higher volatility (5.76%) compared to UUP (1.45%). In terms of maximum drawdown, AVNM dropped -14.03% vs UUP's -22.19%.
On 3-year performance, AVNM leads with 19.49% vs 5.86% for UUP. On fees, AVNM is cheaper at 0.31% per year. On volatility, UUP has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AVNM has performed better with a 19.49% return vs 5.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVNM is cheaper with a 0.31% expense ratio, compared with 0.75% for UUP.
UUP has the higher dividend yield at 3.25%, compared with 2.39% for AVNM.
AVNM is categorized as Foreign Large Cap Equities, while UUP is Currency. They also come from different issuers: Avantis and Invesco. Their fees differ too: 0.31% for AVNM and 0.75% for UUP.
AVNM currently has the higher Sharpe Ratio (1.71 vs 1.38), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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