GSY vs. USDU
GSY (Invesco Ultra Short Duration ETF) and USDU (WisdomTree Bloomberg U.S. Dollar Bullish Fund) are both exchange-traded funds - GSY is a Ultrashort Bond fund actively managed by Invesco, while USDU is a Currency fund actively managed by WisdomTree. Both are actively managed. Over the past 10 years, GSY returned 2.86%/yr vs 2.94%/yr for USDU. At a correlation of -0.15, they often move in opposite directions. GSY charges 0.22%/yr vs 0.51%/yr for USDU.
Performance
GSY vs. USDU - Performance Comparison
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Returns By Period
In the year-to-date period, GSY achieves a 1.76% return, which is significantly lower than USDU's 3.14% return. Both investments have delivered pretty close results over the past 10 years, with GSY having a 2.86% annualized return and USDU not far ahead at 2.94%.
GSY
- 1D
- 0.04%
- 1M
- 0.32%
- YTD
- 1.76%
- 6M
- 1.90%
- 1Y
- 4.41%
- 3Y*
- 5.46%
- 5Y*
- 3.69%
- 10Y*
- 2.86%
USDU
- 1D
- 0.38%
- 1M
- 1.76%
- YTD
- 3.14%
- 6M
- 2.92%
- 1Y
- 5.37%
- 3Y*
- 5.46%
- 5Y*
- 5.25%
- 10Y*
- 2.94%
GSY vs. USDU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSY Invesco Ultra Short Duration ETF | 1.76% | 4.96% | 5.95% | 5.99% | 0.01% | 0.03% | 1.88% | 3.39% | 2.18% | 1.86% |
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 3.14% | -3.14% | 14.56% | 3.10% | 7.67% | 4.07% | -5.43% | 1.54% | 5.40% | -7.44% |
Correlation
The correlation between GSY and USDU is -0.32, 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 | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 2013 | -0.15 |
The correlation between GSY and USDU shifts across timeframes, from -0.34 (3 years) to -0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GSY vs. USDU — Risk / Return Rank
GSY
USDU
GSY vs. USDU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Ultra Short Duration ETF (GSY) and WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU). 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.
| GSY | USDU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +9.86 | ||
| Sortino ratioReturn per unit of downside risk | +23.85 | ||
| Omega ratioGain probability vs. loss probability | 6.08 | 1.18 | +4.90 |
| Calmar ratioReturn relative to maximum drawdown | 74.67 | 1.51 | +73.16 |
| Martin ratioReturn relative to average drawdown | 350.46 | 4.10 | +346.36 |
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Drawdowns
GSY vs. USDU - Drawdown Comparison
The maximum GSY drawdown since its inception was -12.14%, smaller than the maximum USDU drawdown of -14.54%. Use the drawdown chart below to compare losses from any high point for GSY and USDU.
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Drawdown Indicators
| GSY | USDU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.14% | -14.54% | +2.40% |
Max Drawdown (1Y)Largest decline over 1 year | -0.06% | -3.64% | +3.58% |
Max Drawdown (3Y)Largest decline over 3 years | -0.18% | -7.73% | +7.55% |
Max Drawdown (5Y)Largest decline over 5 years | -1.48% | -9.28% | +7.80% |
Max Drawdown (10Y)Largest decline over 10 years | -5.25% | -14.54% | +9.29% |
Current DrawdownCurrent decline from peak | -0.02% | -1.06% | +1.04% |
Average DrawdownAverage peak-to-trough decline | -2.38% | -4.71% | +2.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 1.34% | -1.33% |
Volatility
GSY vs. USDU - Volatility Comparison
The current volatility for Invesco Ultra Short Duration ETF (GSY) is 0.15%, while WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) has a volatility of 1.43%. This indicates that GSY experiences smaller price fluctuations and is considered to be less risky than USDU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSY | USDU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 1.43% | -1.28% |
Volatility (6M)Calculated over the trailing 6-month period | 0.31% | 4.42% | -4.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.41% | 5.66% | -5.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 6.62% | -6.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.22% | 7.45% | -6.23% |
GSY vs. USDU - Expense Ratio Comparison
GSY has a 0.22% expense ratio, which is lower than USDU's 0.51% expense ratio.
Dividends
GSY vs. USDU - Dividend Comparison
GSY's dividend yield for the trailing twelve months is around 4.33%, more than USDU's 3.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSY Invesco Ultra Short Duration ETF | 4.33% | 4.56% | 5.31% | 4.95% | 1.70% | 0.58% | 1.45% | 2.71% | 2.30% | 1.80% | 1.21% | 1.17% |
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 3.71% | 3.83% | 3.97% | 6.99% | 7.83% | 0.00% | 0.69% | 3.06% | 0.88% | 0.00% | 0.00% | 6.48% |
Frequently Asked Questions
GSY and USDU have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USDU has higher volatility (1.43%) compared to GSY (0.15%). In terms of maximum drawdown, GSY dropped -12.14% vs USDU's -14.54%.
On 10-year performance, USDU leads with 2.94% vs 2.86% for GSY. On fees, GSY is cheaper at 0.22% per year. On volatility, GSY has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USDU has performed better with a 2.94% return vs 2.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSY is cheaper with a 0.22% expense ratio, compared with 0.51% for USDU.
GSY has the higher dividend yield at 4.33%, compared with 3.71% for USDU.
GSY is categorized as Ultrashort Bond, while USDU is Currency. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.22% for GSY and 0.51% for USDU.
GSY currently has the higher Sharpe Ratio (10.83 vs 0.97), 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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