DFE vs. UUP
DFE (WisdomTree Europe SmallCap Dividend Fund) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - DFE is a Europe Equities fund tracking the WisdomTree Europe SmallCap Dividend Index, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. Both are passively managed. Over the past 10 years, DFE returned 7.74%/yr vs 3.17%/yr for UUP. At a correlation of -0.49, they often move in opposite directions. DFE charges 0.58%/yr vs 0.75%/yr for UUP.
Performance
DFE vs. UUP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DFE achieves a 4.02% return, which is significantly lower than UUP's 5.44% return. Over the past 10 years, DFE has outperformed UUP with an annualized return of 7.74%, while UUP has yielded a comparatively lower 3.17% annualized return.
DFE
- 1D
- -0.47%
- 1M
- -2.58%
- 6M
- 2.31%
- YTD
- 4.02%
- 1Y
- 8.01%
- 3Y*
- 12.79%
- 5Y*
- 4.33%
- 10Y*
- 7.74%
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%
DFE vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFE WisdomTree Europe SmallCap Dividend Fund | 4.02% | 32.85% | -0.61% | 14.94% | -22.15% | 18.44% | 2.15% | 27.15% | -21.23% | 32.71% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -6.66% | 4.09% | 7.05% | -9.10% |
Correlation
The correlation between DFE and UUP is -0.61, 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 | -0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.53 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2007 | -0.49 |
The correlation between DFE and UUP shifts across timeframes, from -0.61 (5 years) to -0.49 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DFE vs. UUP — Risk / Return Rank
DFE
UUP
DFE vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Europe SmallCap Dividend Fund (DFE) 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.
| DFE | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.25 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | 2.28 | -1.57 |
| Martin ratioReturn relative to average drawdown | 2.25 | 6.26 | -4.01 |
Loading charts...
Drawdowns
DFE vs. UUP - Drawdown Comparison
The maximum DFE drawdown since its inception was -69.38%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for DFE and UUP.
Loading charts...
Drawdown Indicators
| DFE | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.38% | -22.19% | -47.19% |
Max Drawdown (1Y)Largest decline over 1 year | -11.41% | -3.65% | -7.76% |
Max Drawdown (3Y)Largest decline over 3 years | -16.05% | -10.05% | -6.00% |
Max Drawdown (5Y)Largest decline over 5 years | -40.34% | -10.37% | -29.97% |
Max Drawdown (10Y)Largest decline over 10 years | -49.66% | -14.24% | -35.42% |
Current DrawdownCurrent decline from peak | -4.19% | -1.26% | -2.93% |
Average DrawdownAverage peak-to-trough decline | -17.66% | -8.88% | -8.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 1.33% | +2.24% |
Volatility
DFE vs. UUP - Volatility Comparison
WisdomTree Europe SmallCap Dividend Fund (DFE) has a higher volatility of 4.80% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.45%. This indicates that DFE'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.
Loading charts...
Volatility by Period
| DFE | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 1.45% | +3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 12.87% | 4.34% | +8.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.10% | 6.03% | +9.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.08% | 7.22% | +11.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.20% | 6.90% | +12.30% |
DFE vs. UUP - Expense Ratio Comparison
DFE has a 0.58% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
DFE vs. UUP - Dividend Comparison
DFE's dividend yield for the trailing twelve months is around 4.07%, more than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFE WisdomTree Europe SmallCap Dividend Fund | 4.07% | 4.38% | 4.93% | 4.97% | 5.84% | 2.56% | 2.43% | 3.39% | 4.97% | 2.53% | 4.05% | 2.78% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
DFE and UUP have a correlation of -0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFE has higher volatility (4.80%) compared to UUP (1.45%). In terms of maximum drawdown, DFE dropped -69.38% vs UUP's -22.19%.
On 10-year performance, DFE leads with 7.74% vs 3.17% for UUP. On fees, DFE is cheaper at 0.58% 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 10-year period, DFE has performed better with a 7.74% return vs 3.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DFE is cheaper with a 0.58% expense ratio, compared with 0.75% for UUP.
DFE has the higher dividend yield at 4.07%, compared with 3.25% for UUP.
DFE is categorized as Europe Equities, while UUP is Currency. DFE tracks WisdomTree Europe SmallCap Dividend Index, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.58% for DFE and 0.75% for UUP.
UUP currently has the higher Sharpe Ratio (1.38 vs 0.53), 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.
Find the right allocation for DFE and UUP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer