FSEC vs. UUP
FSEC (Fidelity Investment Grade Securitized ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - FSEC is a Intermediate Core Bond fund actively managed by Fidelity, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. FSEC is actively managed, while UUP is passively managed. Over the past 5 years, FSEC returned 0.38%/yr vs 5.89%/yr for UUP. At a correlation of -0.34, they often move in opposite directions. FSEC charges 0.36%/yr vs 0.75%/yr for UUP.
Performance
FSEC vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, FSEC achieves a 0.41% return, which is significantly lower than UUP's 5.44% return.
FSEC
- 1D
- -0.41%
- 1M
- -0.47%
- 6M
- -0.09%
- YTD
- 0.41%
- 1Y
- 5.36%
- 3Y*
- 4.62%
- 5Y*
- 0.38%
- 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%
FSEC vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FSEC Fidelity Investment Grade Securitized ETF | 0.41% | 8.33% | 2.40% | 5.22% | -12.62% | -0.62% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 3.63% | 9.46% | 4.53% |
Correlation
The correlation between FSEC 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 | -0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.34 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 2021 | -0.34 |
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Return for Risk
FSEC vs. UUP — Risk / Return Rank
FSEC
UUP
FSEC vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Investment Grade Securitized ETF (FSEC) 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.
| FSEC | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.25 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 2.28 | -0.15 |
| Martin ratioReturn relative to average drawdown | 5.99 | 6.26 | -0.27 |
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Drawdowns
FSEC vs. UUP - Drawdown Comparison
The maximum FSEC drawdown since its inception was -17.97%, smaller than the maximum UUP drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for FSEC and UUP.
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Drawdown Indicators
| FSEC | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.97% | -22.19% | +4.22% |
Max Drawdown (1Y)Largest decline over 1 year | -2.52% | -3.65% | +1.13% |
Max Drawdown (3Y)Largest decline over 3 years | -7.26% | -10.05% | +2.79% |
Max Drawdown (5Y)Largest decline over 5 years | -17.97% | -10.37% | -7.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.24% | — |
Current DrawdownCurrent decline from peak | -1.64% | -1.26% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -6.52% | -8.88% | +2.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 1.33% | -0.43% |
Volatility
FSEC vs. UUP - Volatility Comparison
Fidelity Investment Grade Securitized ETF (FSEC) and Invesco DB US Dollar Index Bullish Fund (UUP) have volatilities of 1.44% and 1.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSEC | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 1.45% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.37% | 4.34% | -0.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.70% | 6.03% | -1.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.80% | 7.22% | -0.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.58% | 6.90% | -0.32% |
FSEC vs. UUP - Expense Ratio Comparison
FSEC has a 0.36% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
FSEC vs. UUP - Dividend Comparison
FSEC's dividend yield for the trailing twelve months is around 4.46%, more than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FSEC Fidelity Investment Grade Securitized ETF | 4.46% | 4.22% | 3.22% | 3.41% | 2.21% | 0.96% | 0.00% | 0.00% | 0.00% | 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
FSEC 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 FSEC (1.44%). In terms of maximum drawdown, FSEC dropped -17.97% vs UUP's -22.19%.
On 5-year performance, UUP leads with 5.89% vs 0.38% for FSEC. On fees, FSEC is cheaper at 0.36% per year. Their volatility is very similar. 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 0.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FSEC is cheaper with a 0.36% expense ratio, compared with 0.75% for UUP.
FSEC has the higher dividend yield at 4.46%, compared with 3.25% for UUP.
FSEC is categorized as Intermediate Core Bond, while UUP is Currency. They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.36% for FSEC and 0.75% for UUP.
UUP currently has the higher Sharpe Ratio (1.38 vs 1.15), 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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