HOLA vs. UUP
HOLA (JPMorgan International Hedged Equity Laddered Overlay ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - HOLA is a Equity Hedged fund actively managed by JPMorgan, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. HOLA is actively managed, while UUP is passively managed. Over the past year, HOLA returned 13.44% vs 8.28% for UUP. At a correlation of -0.48, they often move in opposite directions. HOLA charges 0.50%/yr vs 0.75%/yr for UUP.
Performance
HOLA vs. UUP - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with HOLA having a 5.43% return and UUP slightly higher at 5.44%.
HOLA
- 1D
- -0.64%
- 1M
- 0.73%
- 6M
- 2.01%
- YTD
- 5.43%
- 1Y
- 13.44%
- 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%
HOLA vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HOLA JPMorgan International Hedged Equity Laddered Overlay ETF | 5.43% | 7.60% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | 2.69% |
Correlation
The correlation between HOLA and UUP is -0.48, 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 Jul 14, 2025 | -0.48 |
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Return for Risk
HOLA vs. UUP — Risk / Return Rank
HOLA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
UUP
HOLA vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan International Hedged Equity Laddered Overlay ETF (HOLA) 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.
| HOLA | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.25 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.28 | — |
| Martin ratioReturn relative to average drawdown | — | 6.26 | — |
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Drawdowns
HOLA vs. UUP - Drawdown Comparison
The maximum HOLA drawdown since its inception was -6.99%, smaller than the maximum UUP drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for HOLA and UUP.
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Drawdown Indicators
| HOLA | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.99% | -22.19% | +15.20% |
Max Drawdown (1Y)Largest decline over 1 year | -6.99% | -3.65% | -3.34% |
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 | -1.41% | -1.26% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -1.41% | -8.88% | +7.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.33% | — |
Volatility
HOLA vs. UUP - Volatility Comparison
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Volatility by Period
| HOLA | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.45% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.34% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 9.96% | 6.03% | +3.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.96% | 7.22% | +2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.96% | 6.90% | +3.06% |
HOLA vs. UUP - Expense Ratio Comparison
HOLA has a 0.50% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
HOLA vs. UUP - Dividend Comparison
HOLA's dividend yield for the trailing twelve months is around 2.87%, less than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
HOLA JPMorgan International Hedged Equity Laddered Overlay ETF | 2.87% | 3.02% | 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
HOLA and UUP have a correlation of -0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On 1-year performance, HOLA leads with 13.44% vs 8.28% for UUP. On fees, HOLA is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HOLA has performed better with a 13.44% return vs 8.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HOLA is cheaper with a 0.50% expense ratio, compared with 0.75% for UUP.
UUP has the higher dividend yield at 3.25%, compared with 2.87% for HOLA.
HOLA is categorized as Equity Hedged, while UUP is Currency. They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.50% for HOLA and 0.75% for UUP.
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