FLIA vs. UUP
FLIA (Franklin Liberty International Aggregate Bond ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - FLIA is a International Government Bonds fund actively managed by Franklin Templeton, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. FLIA is actively managed, while UUP is passively managed. Over the past 5 years, FLIA returned 0.73%/yr vs 5.89%/yr for UUP. At a correlation of -0.24, they often move in opposite directions. FLIA charges 0.25%/yr vs 0.75%/yr for UUP.
Performance
FLIA vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, FLIA achieves a 1.02% return, which is significantly lower than UUP's 5.44% return.
FLIA
- 1D
- -0.42%
- 1M
- -0.26%
- 6M
- 0.62%
- YTD
- 1.02%
- 1Y
- 2.12%
- 3Y*
- 3.34%
- 5Y*
- 0.73%
- 10Y*
- —
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%
FLIA vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FLIA Franklin Liberty International Aggregate Bond ETF | 1.02% | 2.12% | 2.42% | 7.17% | -7.68% | -1.98% | 1.37% | 7.58% | -2.32% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -6.66% | 4.09% | 3.89% |
Correlation
The correlation between FLIA and UUP is -0.40, 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 | -0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.22 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2018 | -0.24 |
The correlation between FLIA and UUP shifts across timeframes, from -0.40 (1 year) to -0.22 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FLIA vs. UUP — Risk / Return Rank
FLIA
UUP
FLIA vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty International Aggregate Bond ETF (FLIA) 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.
| FLIA | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.25 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.04 | 2.28 | -1.24 |
| Martin ratioReturn relative to average drawdown | 2.82 | 6.26 | -3.44 |
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Drawdowns
FLIA vs. UUP - Drawdown Comparison
The maximum FLIA drawdown since its inception was -11.24%, smaller than the maximum UUP drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for FLIA and UUP.
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Drawdown Indicators
| FLIA | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.24% | -22.19% | +10.95% |
Max Drawdown (1Y)Largest decline over 1 year | -2.04% | -3.65% | +1.61% |
Max Drawdown (3Y)Largest decline over 3 years | -2.77% | -10.05% | +7.28% |
Max Drawdown (5Y)Largest decline over 5 years | -9.42% | -10.37% | +0.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.24% | — |
Current DrawdownCurrent decline from peak | -0.89% | -1.26% | +0.37% |
Average DrawdownAverage peak-to-trough decline | -3.75% | -8.88% | +5.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 1.33% | -0.58% |
Volatility
FLIA vs. UUP - Volatility Comparison
The current volatility for Franklin Liberty International Aggregate Bond ETF (FLIA) is 0.84%, while Invesco DB US Dollar Index Bullish Fund (UUP) has a volatility of 1.45%. This indicates that FLIA experiences smaller price fluctuations and is considered to be less risky 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
| FLIA | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 1.45% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 4.34% | -1.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.24% | 6.03% | -2.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.42% | 7.22% | -2.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.69% | 6.90% | -2.21% |
FLIA vs. UUP - Expense Ratio Comparison
FLIA has a 0.25% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
FLIA vs. UUP - Dividend Comparison
FLIA's dividend yield for the trailing twelve months is around 2.80%, less than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLIA Franklin Liberty International Aggregate Bond ETF | 2.80% | 2.62% | 2.97% | 0.93% | 18.12% | 2.26% | 0.43% | 2.93% | 1.23% | 0.00% |
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% |
Frequently Asked Questions
FLIA and UUP have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UUP has higher volatility (1.45%) compared to FLIA (0.84%). In terms of maximum drawdown, FLIA dropped -11.24% vs UUP's -22.19%.
On 5-year performance, UUP leads with 5.89% vs 0.73% for FLIA. On fees, FLIA is cheaper at 0.25% per year. On volatility, FLIA has been the lower-risk option at 0.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UUP has performed better with a 5.89% return vs 0.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLIA is cheaper with a 0.25% expense ratio, compared with 0.75% for UUP.
UUP has the higher dividend yield at 3.25%, compared with 2.80% for FLIA.
FLIA is categorized as International Government Bonds, while UUP is Currency. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.25% for FLIA and 0.75% for UUP.
UUP currently has the higher Sharpe Ratio (1.38 vs 0.66), 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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