GMOM vs. UUP
GMOM (Cambria Global Momentum ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - GMOM is a Momentum fund actively managed by Cambria, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. GMOM is actively managed, while UUP is passively managed. Over the past 10 years, GMOM returned 6.89%/yr vs 3.17%/yr for UUP. At a correlation of -0.27, they often move in opposite directions. GMOM charges 0.96%/yr vs 0.75%/yr for UUP.
Performance
GMOM vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, GMOM achieves a 7.75% return, which is significantly higher than UUP's 5.44% return. Over the past 10 years, GMOM has outperformed UUP with an annualized return of 6.89%, while UUP has yielded a comparatively lower 3.17% annualized return.
GMOM
- 1D
- -0.19%
- 1M
- -1.70%
- 6M
- 3.06%
- YTD
- 7.75%
- 1Y
- 21.83%
- 3Y*
- 11.10%
- 5Y*
- 7.07%
- 10Y*
- 6.89%
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%
GMOM vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GMOM Cambria Global Momentum ETF | 7.75% | 20.63% | 6.75% | 0.65% | -2.82% | 19.13% | 2.42% | 8.24% | -9.61% | 20.67% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -6.66% | 4.09% | 7.05% | -9.10% |
Correlation
The correlation between GMOM and UUP is -0.51, 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 | -0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.32 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2014 | -0.27 |
Over the past year, the inverse relationship between GMOM and UUP has strengthened: their correlation has moved from -0.27 to -0.51, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
GMOM vs. UUP — Risk / Return Rank
GMOM
UUP
GMOM vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cambria Global Momentum ETF (GMOM) 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.
| GMOM | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.25 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 2.28 | +0.01 |
| Martin ratioReturn relative to average drawdown | 7.25 | 6.26 | +0.99 |
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Drawdowns
GMOM vs. UUP - Drawdown Comparison
The maximum GMOM drawdown since its inception was -25.03%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for GMOM and UUP.
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Drawdown Indicators
| GMOM | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.03% | -22.19% | -2.84% |
Max Drawdown (1Y)Largest decline over 1 year | -9.57% | -3.65% | -5.92% |
Max Drawdown (3Y)Largest decline over 3 years | -13.73% | -10.05% | -3.68% |
Max Drawdown (5Y)Largest decline over 5 years | -19.16% | -10.37% | -8.79% |
Max Drawdown (10Y)Largest decline over 10 years | -25.03% | -14.24% | -10.79% |
Current DrawdownCurrent decline from peak | -5.42% | -1.26% | -4.16% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -8.88% | +1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 1.33% | +1.69% |
Volatility
GMOM vs. UUP - Volatility Comparison
Cambria Global Momentum ETF (GMOM) has a higher volatility of 4.48% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.45%. This indicates that GMOM'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.
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Volatility by Period
| GMOM | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.48% | 1.45% | +3.03% |
Volatility (6M)Calculated over the trailing 6-month period | 12.04% | 4.34% | +7.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.63% | 6.03% | +8.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.45% | 7.22% | +7.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.92% | 6.90% | +6.02% |
GMOM vs. UUP - Expense Ratio Comparison
GMOM has a 0.96% expense ratio, which is higher than UUP's 0.75% expense ratio.
Dividends
GMOM vs. UUP - Dividend Comparison
GMOM's dividend yield for the trailing twelve months is around 1.51%, less than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GMOM Cambria Global Momentum ETF | 1.51% | 3.01% | 2.16% | 3.63% | 2.52% | 3.42% | 1.24% | 2.60% | 1.90% | 2.05% | 1.77% | 1.88% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
GMOM and UUP have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GMOM has higher volatility (4.48%) compared to UUP (1.45%). In terms of maximum drawdown, GMOM dropped -25.03% vs UUP's -22.19%.
On 10-year performance, GMOM leads with 6.89% vs 3.17% for UUP. 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 10-year period, GMOM has performed better with a 6.89% return vs 3.17%. 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 0.96% for GMOM.
UUP has the higher dividend yield at 3.25%, compared with 1.51% for GMOM.
GMOM is categorized as Momentum, while UUP is Currency. They also come from different issuers: Cambria and Invesco. Their fees differ too: 0.96% for GMOM and 0.75% for UUP.
GMOM currently has the higher Sharpe Ratio (1.50 vs 1.38), 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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