BNDD vs. UUP
Compare and contrast key facts about Quadratic Deflation ETF (BNDD) and Invesco DB US Dollar Index Bullish Fund (UUP).
BNDD and UUP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BNDD is an actively managed fund by Quadratic. It was launched on Sep 16, 2021. UUP is a passively managed fund by Invesco that tracks the performance of the Deutsche Bank Long US Dollar Index (USDX) Futures Index. It was launched on Feb 20, 2007.
Performance
BNDD vs. UUP - Performance Comparison
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BNDD vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BNDD Quadratic Deflation ETF | 3.22% | -8.17% | -6.65% | 4.02% | -17.48% | 5.54% |
UUP Invesco DB US Dollar Index Bullish Fund | 2.77% | -4.99% | 13.50% | 3.63% | 9.46% | 2.48% |
Returns By Period
In the year-to-date period, BNDD achieves a 3.22% return, which is significantly higher than UUP's 2.77% return.
BNDD
- 1D
- -0.66%
- 1M
- 0.24%
- YTD
- 3.22%
- 6M
- -0.19%
- 1Y
- -5.11%
- 3Y*
- -4.63%
- 5Y*
- —
- 10Y*
- —
UUP
- 1D
- -0.71%
- 1M
- 2.58%
- YTD
- 2.77%
- 6M
- 4.43%
- 1Y
- 0.66%
- 3Y*
- 4.64%
- 5Y*
- 5.20%
- 10Y*
- 3.09%
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BNDD vs. UUP - Expense Ratio Comparison
BNDD has a 1.04% expense ratio, which is higher than UUP's 0.75% expense ratio.
Return for Risk
BNDD vs. UUP — Risk / Return Rank
BNDD
UUP
BNDD vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Quadratic Deflation ETF (BNDD) 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.
| BNDD | UUP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.41 | 0.09 | -0.50 |
Sortino ratioReturn per unit of downside risk | -0.48 | 0.17 | -0.65 |
Omega ratioGain probability vs. loss probability | 0.94 | 1.02 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | -0.37 | 0.13 | -0.50 |
Martin ratioReturn relative to average drawdown | -0.56 | 0.24 | -0.80 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BNDD | UUP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.41 | 0.09 | -0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.72 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.44 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.35 | 0.20 | -0.55 |
Correlation
The correlation between BNDD and UUP is -0.02. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
BNDD vs. UUP - Dividend Comparison
BNDD's dividend yield for the trailing twelve months is around 3.64%, more than UUP's 3.34% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BNDD Quadratic Deflation ETF | 3.64% | 3.82% | 3.85% | 4.30% | 43.17% | 1.04% | 0.00% | 0.00% | 0.00% | 0.00% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.34% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
Drawdowns
BNDD vs. UUP - Drawdown Comparison
The maximum BNDD drawdown since its inception was -30.87%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for BNDD and UUP.
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Drawdown Indicators
| BNDD | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.87% | -22.19% | -8.68% |
Max Drawdown (1Y)Largest decline over 1 year | -10.93% | -6.02% | -4.91% |
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 | -27.28% | -3.76% | -23.52% |
Average DrawdownAverage peak-to-trough decline | -19.03% | -8.96% | -10.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.26% | 3.20% | +4.06% |
Volatility
BNDD vs. UUP - Volatility Comparison
Quadratic Deflation ETF (BNDD) has a higher volatility of 3.52% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 2.10%. This indicates that BNDD'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
| BNDD | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.52% | 2.10% | +1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 8.09% | 4.17% | +3.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.44% | 7.41% | +5.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.55% | 7.24% | +6.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.55% | 6.99% | +6.56% |