GYLD vs. UUP
GYLD (Arrow Dow Jones Global Yield ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - GYLD is a Diversified Portfolio fund tracking the DJ Brookfield Global Infrastructure Composite Yield, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. Both are passively managed. Over the past 10 years, GYLD returned 4.52%/yr vs 3.17%/yr for UUP. At a correlation of -0.21, they often move in opposite directions. Both charge a 0.75% expense ratio.
Performance
GYLD vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, GYLD achieves a 10.32% return, which is significantly higher than UUP's 5.44% return. Over the past 10 years, GYLD has outperformed UUP with an annualized return of 4.52%, while UUP has yielded a comparatively lower 3.17% annualized return.
GYLD
- 1D
- 1.44%
- 1M
- 1.87%
- 6M
- 11.06%
- YTD
- 10.32%
- 1Y
- 16.44%
- 3Y*
- 14.60%
- 5Y*
- 6.99%
- 10Y*
- 4.52%
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%
GYLD vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GYLD Arrow Dow Jones Global Yield ETF | 10.32% | 19.85% | 3.83% | 10.36% | -7.73% | 18.03% | -11.17% | 13.29% | -9.97% | 4.33% |
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 GYLD and UUP is -0.20, 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 | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.21 |
Correlation (All Time) Calculated using the full available price history since May 8, 2012 | -0.21 |
The correlation between GYLD and UUP shifts across timeframes, from -0.26 (5 years) to -0.13 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GYLD vs. UUP — Risk / Return Rank
GYLD
UUP
GYLD vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Arrow Dow Jones Global Yield ETF (GYLD) 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.
| GYLD | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.40 | 2.28 | +1.12 |
| Martin ratioReturn relative to average drawdown | 9.51 | 6.26 | +3.25 |
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Drawdowns
GYLD vs. UUP - Drawdown Comparison
The maximum GYLD drawdown since its inception was -55.03%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for GYLD and UUP.
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Drawdown Indicators
| GYLD | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.03% | -22.19% | -32.84% |
Max Drawdown (1Y)Largest decline over 1 year | -4.86% | -3.65% | -1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -8.37% | -10.05% | +1.68% |
Max Drawdown (5Y)Largest decline over 5 years | -19.37% | -10.37% | -9.00% |
Max Drawdown (10Y)Largest decline over 10 years | -47.89% | -14.24% | -33.65% |
Current DrawdownCurrent decline from peak | 0.00% | -1.26% | +1.26% |
Average DrawdownAverage peak-to-trough decline | -14.31% | -8.88% | -5.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.73% | 1.33% | +0.40% |
Volatility
GYLD vs. UUP - Volatility Comparison
Arrow Dow Jones Global Yield ETF (GYLD) has a higher volatility of 3.73% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.45%. This indicates that GYLD'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
| GYLD | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.73% | 1.45% | +2.28% |
Volatility (6M)Calculated over the trailing 6-month period | 8.87% | 4.34% | +4.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.47% | 6.03% | +6.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.83% | 7.22% | +6.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 6.90% | +9.58% |
GYLD vs. UUP - Expense Ratio Comparison
Both GYLD and UUP have an expense ratio of 0.75%.
Dividends
GYLD vs. UUP - Dividend Comparison
GYLD's dividend yield for the trailing twelve months is around 7.35%, more than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GYLD Arrow Dow Jones Global Yield ETF | 7.35% | 8.43% | 12.90% | 7.13% | 4.64% | 5.50% | 7.42% | 5.83% | 8.17% | 6.78% | 7.29% | 10.35% |
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
GYLD and UUP have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GYLD has higher volatility (3.73%) compared to UUP (1.45%). In terms of maximum drawdown, GYLD dropped -55.03% vs UUP's -22.19%.
On 10-year performance, GYLD leads with 4.52% vs 3.17% for UUP. Both ETFs have the same 0.75% expense ratio. 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, GYLD has performed better with a 4.52% return vs 3.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GYLD and UUP have the same expense ratio: 0.75% per year.
GYLD has the higher dividend yield at 7.35%, compared with 3.25% for UUP.
GYLD is categorized as Diversified Portfolio, while UUP is Currency. GYLD tracks DJ Brookfield Global Infrastructure Composite Yield, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: Arrow Funds and Invesco.
UUP currently has the higher Sharpe Ratio (1.38 vs 1.33), 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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