HYZD vs. UUP
HYZD (WisdomTree Interest Rate Hedged High Yield Bond Fund) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - HYZD is a High Yield Bonds fund tracking the WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index, 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, HYZD returned 5.37%/yr vs 3.17%/yr for UUP. At a correlation of -0.05, they often move in opposite directions. HYZD charges 0.43%/yr vs 0.75%/yr for UUP.
Performance
HYZD vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, HYZD achieves a 3.22% return, which is significantly lower than UUP's 5.44% return. Over the past 10 years, HYZD has outperformed UUP with an annualized return of 5.37%, while UUP has yielded a comparatively lower 3.17% annualized return.
HYZD
- 1D
- 0.06%
- 1M
- 0.48%
- 6M
- 2.68%
- YTD
- 3.22%
- 1Y
- 6.93%
- 3Y*
- 8.61%
- 5Y*
- 6.13%
- 10Y*
- 5.37%
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%
HYZD vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 3.22% | 7.67% | 9.39% | 11.17% | -2.35% | 6.27% | -0.63% | 9.17% | -2.21% | 6.32% |
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 HYZD and UUP is -0.19, 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 | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 2013 | -0.05 |
The correlation between HYZD and UUP shifts across timeframes, from -0.19 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYZD vs. UUP — Risk / Return Rank
HYZD
UUP
HYZD vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) 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.
| HYZD | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.25 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 3.65 | 2.28 | +1.37 |
| Martin ratioReturn relative to average drawdown | 15.70 | 6.26 | +9.44 |
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Drawdowns
HYZD vs. UUP - Drawdown Comparison
The maximum HYZD drawdown since its inception was -25.66%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for HYZD and UUP.
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Drawdown Indicators
| HYZD | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.66% | -22.19% | -3.47% |
Max Drawdown (1Y)Largest decline over 1 year | -1.91% | -3.65% | +1.74% |
Max Drawdown (3Y)Largest decline over 3 years | -5.85% | -10.05% | +4.20% |
Max Drawdown (5Y)Largest decline over 5 years | -8.97% | -10.37% | +1.40% |
Max Drawdown (10Y)Largest decline over 10 years | -25.66% | -14.24% | -11.42% |
Current DrawdownCurrent decline from peak | 0.00% | -1.26% | +1.26% |
Average DrawdownAverage peak-to-trough decline | -2.19% | -8.88% | +6.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 1.33% | -0.89% |
Volatility
HYZD vs. UUP - Volatility Comparison
The current volatility for WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) is 0.67%, while Invesco DB US Dollar Index Bullish Fund (UUP) has a volatility of 1.45%. This indicates that HYZD 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.
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Volatility by Period
| HYZD | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 1.45% | -0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 2.44% | 4.34% | -1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.01% | 6.03% | -3.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.70% | 7.22% | -0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.52% | 6.90% | +1.62% |
HYZD vs. UUP - Expense Ratio Comparison
HYZD has a 0.43% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
HYZD vs. UUP - Dividend Comparison
HYZD's dividend yield for the trailing twelve months is around 5.88%, more than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 5.88% | 6.05% | 6.08% | 5.94% | 5.14% | 4.02% | 5.13% | 5.50% | 5.58% | 4.94% | 5.07% | 4.38% |
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
HYZD and UUP have a correlation of -0.19, 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 HYZD (0.67%). In terms of maximum drawdown, HYZD dropped -25.66% vs UUP's -22.19%.
On 10-year performance, HYZD leads with 5.37% vs 3.17% for UUP. On fees, HYZD is cheaper at 0.43% per year. On volatility, HYZD has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HYZD has performed better with a 5.37% return vs 3.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYZD is cheaper with a 0.43% expense ratio, compared with 0.75% for UUP.
HYZD has the higher dividend yield at 5.88%, compared with 3.25% for UUP.
HYZD is categorized as High Yield Bonds, while UUP is Currency. HYZD tracks WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.43% for HYZD and 0.75% for UUP.
HYZD currently has the higher Sharpe Ratio (2.32 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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