EQAC.MI vs. UUP

Last updated Jun 5, 2026

EQAC.MI (Invesco EQQQ NASDAQ-100 UCITS ETF Acc) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - EQAC.MI is a Nasdaq-100 fund tracking the NASDAQ-100 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 5 years, EQAC.MI returned 18.68%/yr vs 7.20%/yr for UUP. At a 0.06 correlation, their price movements are largely independent. EQAC.MI charges 0.30%/yr vs 0.75%/yr for UUP.

Performance

EQAC.MI vs. UUP - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco EQQQ NASDAQ-100 UCITS ETF Acc (EQAC.MI) and Invesco DB US Dollar Index Bullish Fund (UUP). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EQAC.MI is traded in EUR, while UUP is traded in USD. To make them comparable, the UUP values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, EQAC.MI achieves a 20.38% return, which is significantly higher than UUP's 5.61% return.

EQAC.MI

• 1D: -0.78%
• 1M: 5.87%
• YTD: 20.38%
• 6M: 18.62%
• 1Y: 37.19%
• 3Y*: 24.54%
• 5Y*: 18.68%
• 10Y*: —

UUP

• 1D: -0.08%
• 1M: 4.76%
• YTD: 5.61%
• 6M: 4.01%
• 1Y: 4.35%
• 3Y*: 1.80%
• 5Y*: 7.20%
• 10Y*: 2.94%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EQAC.MI vs. UUP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EQAC.MI Invesco EQQQ NASDAQ-100 UCITS ETF Acc	20.38%	6.78%	35.08%	50.29%	-30.28%	40.00%	35.43%	6.99%
UUP Invesco DB US Dollar Index Bullish Fund	5.61%	-16.26%	20.99%	0.52%	16.24%	13.64%	-14.36%	-1.67%

Correlation

The correlation between EQAC.MI and UUP is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (All Time) Calculated using the full available price history since Oct 30, 2019	0.06

The correlation between EQAC.MI and UUP shifts across timeframes, from 0.06 (all time) to 0.16 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

EQAC.MI vs. UUP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EQAC.MI

EQAC.MI Risk / Return Rank: 73
EQAC.MI Sharpe Ratio Rank: 77
EQAC.MI Sortino Ratio Rank: 73
EQAC.MI Omega Ratio Rank: 73
EQAC.MI Calmar Ratio Rank: 76
EQAC.MI Martin Ratio Rank: 63

UUP

UUP Risk / Return Rank: 29
UUP Sharpe Ratio Rank: 28
UUP Sortino Ratio Rank: 27
UUP Omega Ratio Rank: 26
UUP Calmar Ratio Rank: 35
UUP Martin Ratio Rank: 31

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EQAC.MI vs. UUP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco EQQQ NASDAQ-100 UCITS ETF Acc (EQAC.MI) 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.

	EQAC.MI	UUP	Difference
Sharpe ratio: Return per unit of total volatility	2.46	0.36	+2.10
Sortino ratio: Return per unit of downside risk	3.24	0.58	+2.66
Omega ratio: Gain probability vs. loss probability	1.43	1.07	+0.36
Calmar ratio: Return relative to maximum drawdown	3.79	0.56	+3.23
Martin ratio: Return relative to average drawdown	11.32	1.34	+9.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQAC.MI vs. UUP - Sharpe Ratio Comparison

The current EQAC.MI Sharpe Ratio is 2.46, which is higher than the UUP Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of EQAC.MI and UUP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EQAC.MI	UUP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	0.36	+2.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	0.49	+0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.21	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	0.16	+0.90

Drawdowns

EQAC.MI vs. UUP - Drawdown Comparison

The maximum EQAC.MI drawdown since its inception was -30.96%, smaller than the maximum UUP drawdown of -34.79%. Use the drawdown chart below to compare losses from any high point for EQAC.MI and UUP.

Drawdown Indicators

	EQAC.MI	UUP	Difference
Max Drawdown Largest peak-to-trough decline	-30.96%	-34.79%	+3.83%
Max Drawdown (1Y) Largest decline over 1 year	-9.99%	-7.84%	-2.15%
Max Drawdown (3Y) Largest decline over 3 years	-26.69%	-22.00%	-4.69%
Max Drawdown (5Y) Largest decline over 5 years	-30.96%	-22.51%	-8.45%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.97%	—
Current Drawdown Current decline from peak	-0.78%	-13.76%	+12.98%
Average Drawdown Average peak-to-trough decline	-7.27%	-15.68%	+8.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	3.29%	+0.05%

Volatility

EQAC.MI vs. UUP - Volatility Comparison

Invesco EQQQ NASDAQ-100 UCITS ETF Acc (EQAC.MI) has a higher volatility of 4.33% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 2.56%. This indicates that EQAC.MI'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.

Volatility by Period

	EQAC.MI	UUP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	2.56%	+1.77%
Volatility (6M) Calculated over the trailing 6-month period	10.80%	8.49%	+2.31%
Volatility (1Y) Calculated over the trailing 1-year period	15.42%	12.24%	+3.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.67%	14.73%	+4.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.23%	14.11%	+7.12%

EQAC.MI vs. UUP - Expense Ratio Comparison

EQAC.MI has a 0.30% expense ratio, which is lower than UUP's 0.75% expense ratio.

Dividends

EQAC.MI vs. UUP - Dividend Comparison

EQAC.MI 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
EQAC.MI Invesco EQQQ NASDAQ-100 UCITS ETF 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

Can I hold both EQAC.MI and UUP in my portfolio?

EQAC.MI and UUP have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EQAC.MI or UUP?

On fees, EQAC.MI is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EQAC.MI or UUP?

EQAC.MI is cheaper with a 0.30% expense ratio, compared with 0.75% for UUP.

What is the main difference between EQAC.MI and UUP?

EQAC.MI is categorized as Nasdaq-100, while UUP is Currency. EQAC.MI tracks NASDAQ-100 Index, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. Their fees differ too: 0.30% for EQAC.MI and 0.75% for UUP.