HIMU vs. UUP
HIMU (iShares High Yield Muni Active ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - HIMU is a High Yield Muni fund actively managed by iShares, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. HIMU is actively managed, while UUP is passively managed. Over the past year, HIMU returned 8.32% vs 8.28% for UUP. At a correlation of -0.18, they often move in opposite directions. HIMU charges 0.42%/yr vs 0.75%/yr for UUP.
Performance
HIMU vs. UUP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HIMU achieves a 4.05% return, which is significantly lower than UUP's 5.44% return.
HIMU
- 1D
- -0.08%
- 1M
- 1.24%
- 6M
- 3.27%
- YTD
- 4.05%
- 1Y
- 8.32%
- 3Y*
- —
- 5Y*
- —
- 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%
HIMU vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HIMU iShares High Yield Muni Active ETF | 4.05% | 1.48% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -5.02% |
Correlation
The correlation between HIMU and UUP is -0.28, 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 | -0.28 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2025 | -0.18 |
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
HIMU vs. UUP — Risk / Return Rank
HIMU
UUP
HIMU vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Muni Active ETF (HIMU) 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.
| HIMU | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.25 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | 2.28 | +0.26 |
| Martin ratioReturn relative to average drawdown | 9.99 | 6.26 | +3.73 |
Loading charts...
Drawdowns
HIMU vs. UUP - Drawdown Comparison
The maximum HIMU drawdown since its inception was -8.01%, smaller than the maximum UUP drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for HIMU and UUP.
Loading charts...
Drawdown Indicators
| HIMU | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.01% | -22.19% | +14.18% |
Max Drawdown (1Y)Largest decline over 1 year | -3.29% | -3.65% | +0.36% |
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 | -0.56% | -1.26% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -8.88% | +7.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 1.33% | -0.46% |
Volatility
HIMU vs. UUP - Volatility Comparison
The current volatility for iShares High Yield Muni Active ETF (HIMU) is 0.96%, while Invesco DB US Dollar Index Bullish Fund (UUP) has a volatility of 1.45%. This indicates that HIMU experiences smaller price fluctuations and is considered to be less risky than UUP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HIMU | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 1.45% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 3.26% | 4.34% | -1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 6.03% | -1.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.20% | 7.22% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.20% | 6.90% | +0.30% |
HIMU vs. UUP - Expense Ratio Comparison
HIMU has a 0.42% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
HIMU vs. UUP - Dividend Comparison
HIMU's dividend yield for the trailing twelve months is around 5.10%, more than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
HIMU iShares High Yield Muni Active ETF | 5.10% | 4.57% | 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
HIMU and UUP have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UUP has higher volatility (1.45%) compared to HIMU (0.96%). In terms of maximum drawdown, HIMU dropped -8.01% vs UUP's -22.19%.
On 1-year performance, HIMU leads with 8.32% vs 8.28% for UUP. On fees, HIMU is cheaper at 0.42% per year. On volatility, HIMU has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HIMU has performed better with a 8.32% return vs 8.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HIMU is cheaper with a 0.42% expense ratio, compared with 0.75% for UUP.
HIMU has the higher dividend yield at 5.10%, compared with 3.25% for UUP.
HIMU is categorized as High Yield Muni, while UUP is Currency. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.42% for HIMU and 0.75% for UUP.
HIMU currently has the higher Sharpe Ratio (1.91 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.
Find the right allocation for HIMU 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