EMVL.L vs. UUP
EMVL.L (iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc)) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - EMVL.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. Both are passively managed. Over the past 5 years, EMVL.L returned 16.74%/yr vs 5.73%/yr for UUP. At a correlation of -0.32, they often move in opposite directions. EMVL.L charges 0.40%/yr vs 0.75%/yr for UUP.
Performance
EMVL.L vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, EMVL.L achieves a 45.06% return, which is significantly higher than UUP's 3.48% return.
EMVL.L
- 1D
- 2.91%
- 1M
- 8.74%
- YTD
- 45.06%
- 6M
- 49.13%
- 1Y
- 82.04%
- 3Y*
- 36.29%
- 5Y*
- 16.74%
- 10Y*
- —
UUP
- 1D
- 0.07%
- 1M
- 0.72%
- YTD
- 3.48%
- 6M
- 3.56%
- 1Y
- 6.46%
- 3Y*
- 4.54%
- 5Y*
- 5.73%
- 10Y*
- 3.22%
EMVL.L vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EMVL.L iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) | 45.06% | 43.13% | 14.49% | 18.37% | -16.29% | 5.29% | 7.72% | 17.64% | -2.10% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.48% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -6.66% | 4.09% | -0.60% |
Correlation
The correlation between EMVL.L and UUP is -0.29, 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 | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.38 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2018 | -0.32 |
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Return for Risk
EMVL.L vs. UUP — Risk / Return Rank
EMVL.L
UUP
EMVL.L vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) (EMVL.L) 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.
| EMVL.L | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.65 | ||
| Sortino ratioReturn per unit of downside risk | +2.87 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.19 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 7.00 | 1.78 | +5.22 |
| Martin ratioReturn relative to average drawdown | 22.34 | 4.74 | +17.60 |
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Drawdowns
EMVL.L vs. UUP - Drawdown Comparison
The maximum EMVL.L drawdown since its inception was -34.95%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for EMVL.L and UUP.
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Drawdown Indicators
| EMVL.L | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.95% | -22.19% | -12.76% |
Max Drawdown (1Y)Largest decline over 1 year | -11.65% | -3.65% | -8.00% |
Max Drawdown (3Y)Largest decline over 3 years | -16.42% | -10.05% | -6.37% |
Max Drawdown (5Y)Largest decline over 5 years | -33.55% | -10.37% | -23.18% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.24% | — |
Current DrawdownCurrent decline from peak | -3.38% | -3.10% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -9.53% | -8.91% | -0.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 1.37% | +2.29% |
Volatility
EMVL.L vs. UUP - Volatility Comparison
iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) (EMVL.L) has a higher volatility of 10.29% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.19%. This indicates that EMVL.L'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
| EMVL.L | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.29% | 1.19% | +9.10% |
Volatility (6M)Calculated over the trailing 6-month period | 18.92% | 4.21% | +14.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.93% | 6.03% | +15.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.24% | 7.22% | +13.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.19% | 6.96% | +14.23% |
EMVL.L vs. UUP - Expense Ratio Comparison
EMVL.L has a 0.40% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
EMVL.L vs. UUP - Dividend Comparison
EMVL.L has not paid dividends to shareholders, while UUP's dividend yield for the trailing twelve months is around 3.31%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EMVL.L iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.31% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
Frequently Asked Questions
EMVL.L and UUP have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMVL.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMVL.L is cheaper with a 0.40% expense ratio, compared with 0.75% for UUP.
EMVL.L is categorized as Emerging Markets Equities, while UUP is Currency. EMVL.L tracks MSCI EM NR USD, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.40% for EMVL.L and 0.75% for UUP.
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