IBTQ vs. UUP
IBTQ (iShares iBonds Dec 2035 Term Treasury ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - IBTQ is a Government Bonds fund tracking the ICE 2035 Maturity US Treasury 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 year, IBTQ returned 2.14% vs 8.57% for UUP. At a correlation of -0.36, they often move in opposite directions. IBTQ charges 0.07%/yr vs 0.75%/yr for UUP.
Performance
IBTQ vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, IBTQ achieves a -1.30% return, which is significantly lower than UUP's 5.25% return.
IBTQ
- 1D
- -0.24%
- 1M
- -0.71%
- 6M
- -0.92%
- YTD
- -1.30%
- 1Y
- 2.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.80%
UUP
- 1D
- -0.11%
- 1M
- 0.32%
- 6M
- 4.33%
- YTD
- 5.25%
- 1Y
- 8.57%
- 3Y*
- 5.37%
- 5Y*
- 5.73%
- 10Y*
- 3.05%
- ALL TIME*
- 1.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $684.52K | $774.96K | $2.09M | |
| $55.76M | $56.95M | $59.82M |
IBTQ vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBTQ iShares iBonds Dec 2035 Term Treasury ETF | -1.30% | 5.09% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.25% | -1.99% |
Correlation
The correlation between IBTQ and UUP is -0.43, 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 | -0.43 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | -0.36 |
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Return for Risk
IBTQ vs. UUP — Risk / Return Rank
IBTQ
UUP
IBTQ vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2035 Term Treasury ETF (IBTQ) 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.
| IBTQ | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.01 | ||
| Sortino ratioReturn per unit of downside risk | -1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.26 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | 2.36 | -1.85 |
| Martin ratioReturn relative to average drawdown | 1.25 | 6.51 | -5.26 |
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Drawdowns
IBTQ vs. UUP - Drawdown Comparison
The maximum IBTQ drawdown since its inception was -4.27%, smaller than the maximum UUP drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for IBTQ and UUP.
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Drawdown Indicators
| IBTQ | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.27% | -22.19% | +17.92% |
Max Drawdown (1Y)Largest decline over 1 year | -4.27% | -3.65% | -0.62% |
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 | -3.53% | -1.44% | -2.09% |
Average DrawdownAverage peak-to-trough decline | -1.53% | -8.87% | +7.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 1.32% | +0.39% |
Volatility
IBTQ vs. UUP - Volatility Comparison
iShares iBonds Dec 2035 Term Treasury ETF (IBTQ) and Invesco DB US Dollar Index Bullish Fund (UUP) have volatilities of 1.33% and 1.30%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTQ | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 1.30% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.69% | 4.31% | -0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.92% | 5.98% | -1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.56% | 7.22% | -1.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.56% | 6.90% | -1.34% |
IBTQ vs. UUP - Expense Ratio Comparison
IBTQ has a 0.07% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
IBTQ vs. UUP - Dividend Comparison
IBTQ's dividend yield for the trailing twelve months is around 3.75%, more than UUP's 3.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IBTQ iShares iBonds Dec 2035 Term Treasury ETF | 3.75% | 2.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.26% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
Frequently Asked Questions
IBTQ and UUP have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBTQ has higher volatility (1.33%) compared to UUP (1.30%). In terms of maximum drawdown, IBTQ dropped -4.27% vs UUP's -22.19%.
On 1-year performance, UUP leads with 8.57% vs 2.14% for IBTQ. On fees, IBTQ is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, UUP has performed better with a 8.57% return vs 2.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTQ is cheaper with a 0.07% expense ratio, compared with 0.75% for UUP.
IBTQ has the higher dividend yield at 3.75%, compared with 3.26% for UUP.
IBTQ is categorized as Government Bonds, while UUP is Currency. IBTQ tracks ICE 2035 Maturity US Treasury Index, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.07% for IBTQ and 0.75% for UUP.
UUP currently has the higher Sharpe Ratio (1.45 vs 0.44), 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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