GDXD vs. UUP
GDXD (MicroSectors Gold Miners -3X Inverse Leveraged ETNs) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - GDXD is a Inverse Equities fund tracking the S-Network MicroSectors Gold Miners Index - Benchmark TR Gross (-300%), 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, GDXD returned -72.96%/yr vs 5.89%/yr for UUP. At a 0.49 correlation, their price movements are largely independent. GDXD charges 0.95%/yr vs 0.75%/yr for UUP.
Performance
GDXD vs. UUP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GDXD achieves a -37.37% return, which is significantly lower than UUP's 5.44% return.
GDXD
- 1D
- 8.77%
- 1M
- 16.42%
- 6M
- -11.19%
- YTD
- -37.37%
- 1Y
- -91.03%
- 3Y*
- -82.31%
- 5Y*
- -72.96%
- 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%
GDXD vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs | -37.37% | -97.53% | -57.78% | -52.35% | -52.56% | -19.71% | -13.10% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -1.34% |
Correlation
The correlation between GDXD and UUP is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020 | 0.49 |
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
GDXD vs. UUP — Risk / Return Rank
GDXD
UUP
GDXD vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD) 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.
| GDXD | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.01 | ||
| Sortino ratioReturn per unit of downside risk | -3.40 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.25 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 2.28 | -3.23 |
| Martin ratioReturn relative to average drawdown | -1.12 | 6.26 | -7.38 |
Loading charts...
Drawdowns
GDXD vs. UUP - Drawdown Comparison
The maximum GDXD drawdown since its inception was -99.96%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for GDXD and UUP.
Loading charts...
Drawdown Indicators
| GDXD | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -22.19% | -77.77% |
Max Drawdown (1Y)Largest decline over 1 year | -96.19% | -3.65% | -92.54% |
Max Drawdown (3Y)Largest decline over 3 years | -99.86% | -10.05% | -89.81% |
Max Drawdown (5Y)Largest decline over 5 years | -99.96% | -10.37% | -89.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.24% | — |
Current DrawdownCurrent decline from peak | -99.91% | -1.26% | -98.65% |
Average DrawdownAverage peak-to-trough decline | -72.32% | -8.88% | -63.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 80.98% | 1.33% | +79.65% |
Volatility
GDXD vs. UUP - Volatility Comparison
MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD) has a higher volatility of 47.16% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.45%. This indicates that GDXD'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
| GDXD | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 47.16% | 1.45% | +45.71% |
Volatility (6M)Calculated over the trailing 6-month period | 117.86% | 4.34% | +113.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 144.94% | 6.03% | +138.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 112.08% | 7.22% | +104.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 110.75% | 6.90% | +103.85% |
GDXD vs. UUP - Expense Ratio Comparison
GDXD has a 0.95% expense ratio, which is higher than UUP's 0.75% expense ratio.
Dividends
GDXD vs. UUP - Dividend Comparison
GDXD has not paid dividends to shareholders, while UUP's dividend yield for the trailing twelve months is around 3.25%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs | 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 | 3.25% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
Frequently Asked Questions
GDXD and UUP have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXD has higher volatility (47.16%) compared to UUP (1.45%). In terms of maximum drawdown, GDXD dropped -99.96% vs UUP's -22.19%.
On 5-year performance, UUP leads with 5.89% vs -72.96% for GDXD. On fees, UUP is cheaper at 0.75% 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 5-year period, UUP has performed better with a 5.89% return vs -72.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UUP is cheaper with a 0.75% expense ratio, compared with 0.95% for GDXD.
UUP has the higher dividend yield at 3.25%, compared with 0.00% for GDXD.
GDXD is categorized as Inverse Equities, while UUP is Currency. GDXD tracks S-Network MicroSectors Gold Miners Index - Benchmark TR Gross (-300%), while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: BMO and Invesco. Their fees differ too: 0.95% for GDXD and 0.75% for UUP.
UUP currently has the higher Sharpe Ratio (1.38 vs -0.63), 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 GDXD 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