CEW vs. USDU
CEW (WisdomTree Emerging Currency Strategy Fund) and USDU (WisdomTree Bloomberg U.S. Dollar Bullish Fund) are both Currency funds from WisdomTree. Both are actively managed. Over the past 10 years, CEW returned 2.43%/yr vs 2.83%/yr for USDU. Their -0.57 correlation means they have often moved in opposite directions in the past. CEW charges 0.55%/yr vs 0.51%/yr for USDU.
Performance
CEW vs. USDU - Performance Comparison
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Returns By Period
In the year-to-date period, CEW achieves a 4.20% return, which is significantly higher than USDU's 2.67% return. Over the past 10 years, CEW has underperformed USDU with an annualized return of 2.43%, while USDU has yielded a comparatively higher 2.83% annualized return.
CEW
- 1D
- -0.19%
- 1M
- 1.82%
- 6M
- 2.23%
- YTD
- 4.20%
- 1Y
- 9.10%
- 3Y*
- 6.70%
- 5Y*
- 3.97%
- 10Y*
- 2.43%
- ALL TIME*
- 1.12%
USDU
- 1D
- 0.15%
- 1M
- -0.86%
- 6M
- 3.80%
- YTD
- 2.67%
- 1Y
- 4.20%
- 3Y*
- 5.00%
- 5Y*
- 5.28%
- 10Y*
- 2.83%
- ALL TIME*
- 3.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $328.43K | $171.66K | $92.20K | |
| $4.95M | $6.81M | $8.10M |
CEW vs. USDU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEW WisdomTree Emerging Currency Strategy Fund | 4.20% | 14.48% | -0.99% | 9.06% | -1.65% | -6.62% | -0.04% | 4.78% | -5.09% | 11.09% |
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 2.67% | -3.14% | 14.56% | 3.10% | 7.67% | 4.07% | -5.43% | 1.54% | 5.40% | -7.44% |
Correlation
The correlation between CEW and USDU is -0.59, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.59 |
Correlation (3Y) Balances recent behavior with more history. | -0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.69 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.60 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 2013 | -0.57 |
The correlation between CEW and USDU shifts across timeframes, from -0.70 (3 years) to -0.57 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CEW vs. USDU — Risk / Return Rank
CEW
USDU
CEW vs. USDU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Currency Strategy Fund (CEW) and WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU). 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.
| CEW | USDU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.11 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | 0.92 | +1.64 |
| Martin ratioReturn relative to average drawdown | 8.40 | 2.71 | +5.69 |
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Drawdowns
CEW vs. USDU - Drawdown Comparison
The maximum CEW drawdown since its inception was -27.89%, which is greater than USDU's maximum drawdown of -14.54%. Use the drawdown chart below to compare losses from any high point for CEW and USDU.
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Drawdown Indicators
| CEW | USDU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.89% | -14.54% | -13.35% |
Max Drawdown (1Y)Largest decline over 1 year | -3.85% | -3.64% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -5.28% | -7.73% | +2.45% |
Max Drawdown (5Y)Largest decline over 5 years | -13.45% | -9.28% | -4.17% |
Max Drawdown (10Y)Largest decline over 10 years | -17.72% | -14.54% | -3.18% |
Current DrawdownCurrent decline from peak | -0.19% | -1.51% | +1.32% |
Average DrawdownAverage peak-to-trough decline | -12.90% | -4.67% | -8.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.31% | -0.14% |
Volatility
CEW vs. USDU - Volatility Comparison
WisdomTree Emerging Currency Strategy Fund (CEW) has a higher volatility of 1.99% compared to WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) at 1.35%. This indicates that CEW's price experiences larger fluctuations and is considered to be riskier than USDU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEW | USDU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 1.35% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 5.46% | 4.17% | +1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.40% | 5.53% | +0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.89% | 6.60% | +0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.94% | 7.41% | -0.47% |
CEW vs. USDU - Expense Ratio Comparison
CEW has a 0.55% expense ratio, which is higher than USDU's 0.51% expense ratio.
Dividends
CEW vs. USDU - Dividend Comparison
CEW's dividend yield for the trailing twelve months is around 2.37%, less than USDU's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEW WisdomTree Emerging Currency Strategy Fund | 2.37% | 2.47% | 5.42% | 2.00% | 0.80% | 0.00% | 0.64% | 1.90% | 1.87% | 0.00% | 0.00% | 0.00% |
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 3.73% | 3.83% | 3.97% | 6.99% | 7.83% | 0.00% | 0.69% | 3.06% | 0.88% | 0.00% | 0.00% | 6.48% |
Frequently Asked Questions
CEW and USDU have a correlation of -0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEW has higher volatility (1.99%) compared to USDU (1.35%). In terms of maximum drawdown, CEW dropped -27.89% vs USDU's -14.54%.
On 10-year performance, USDU leads with 2.83% vs 2.43% for CEW. On fees, USDU is cheaper at 0.51% per year. On volatility, USDU has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USDU has performed better with a 2.83% return vs 2.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USDU is cheaper with a 0.51% expense ratio, compared with 0.55% for CEW.
USDU has the higher dividend yield at 3.73%, compared with 2.37% for CEW.
Their fees differ too: 0.55% for CEW and 0.51% for USDU.
CEW currently has the higher Sharpe Ratio (1.54 vs 0.61), 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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