GLDB vs. UUP
GLDB (Strategy Shares Gold-Hedged Bond ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - GLDB is a Nontraditional Bonds fund tracking the Solactive Gold Backed Bond Index - Benchmark TR Gross, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. Both are passively managed. At a correlation of -0.43, they often move in opposite directions. GLDB charges 0.79%/yr vs 0.75%/yr for UUP.
Performance
GLDB vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, GLDB achieves a -15.33% return, which is significantly lower than UUP's 4.92% return.
GLDB
- 1D
- 0.21%
- 1M
- -13.50%
- YTD
- -15.33%
- 6M
- -16.66%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UUP
- 1D
- 0.21%
- 1M
- 2.12%
- YTD
- 4.92%
- 6M
- 4.92%
- 1Y
- 7.04%
- 3Y*
- 4.78%
- 5Y*
- 5.90%
- 10Y*
- 3.20%
GLDB vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GLDB Strategy Shares Gold-Hedged Bond ETF | -15.33% | -3.56% |
UUP Invesco DB US Dollar Index Bullish Fund | 4.92% | 0.15% |
Correlation
The correlation between GLDB and UUP is -0.43, 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 (All Time) Calculated using the full available price history since Oct 24, 2025 | -0.43 |
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Return for Risk
GLDB vs. UUP — Risk / Return Rank
GLDB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
UUP
GLDB vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Shares Gold-Hedged Bond ETF (GLDB) 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.
| GLDB | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.21 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.94 | — |
| Martin ratioReturn relative to average drawdown | — | 5.26 | — |
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Drawdowns
GLDB vs. UUP - Drawdown Comparison
The maximum GLDB drawdown since its inception was -33.45%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for GLDB and UUP.
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Drawdown Indicators
| GLDB | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.45% | -22.19% | -11.26% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.65% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.05% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.37% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.24% | — |
Current DrawdownCurrent decline from peak | -32.62% | -1.75% | -30.87% |
Average DrawdownAverage peak-to-trough decline | -14.64% | -8.90% | -5.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.36% | — |
Volatility
GLDB vs. UUP - Volatility Comparison
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Volatility by Period
| GLDB | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.34% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.32% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 40.03% | 6.08% | +33.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.03% | 7.22% | +32.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.03% | 6.96% | +33.07% |
GLDB vs. UUP - Expense Ratio Comparison
GLDB has a 0.79% expense ratio, which is higher than UUP's 0.75% expense ratio.
Dividends
GLDB vs. UUP - Dividend Comparison
GLDB's dividend yield for the trailing twelve months is around 0.23%, less than UUP's 3.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GLDB Strategy Shares Gold-Hedged Bond ETF | 0.23% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.27% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
Frequently Asked Questions
GLDB and UUP have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UUP is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UUP is cheaper with a 0.75% expense ratio, compared with 0.79% for GLDB.
UUP has the higher dividend yield at 3.27%, compared with 0.23% for GLDB.
GLDB is categorized as Nontraditional Bonds, while UUP is Currency. GLDB tracks Solactive Gold Backed Bond Index - Benchmark TR Gross, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: Strategy Shares and Invesco. Their fees differ too: 0.79% for GLDB and 0.75% for UUP.
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