IDEC vs. UUP
IDEC (Innovator International Developed Power Buffer ETF - December) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - IDEC is a Options Trading fund actively managed by Innovator, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. IDEC is actively managed, while UUP is passively managed. Over the past year, IDEC returned 14.22% vs 9.30% for UUP. At a correlation of -0.52, they often move in opposite directions. IDEC charges 0.85%/yr vs 0.75%/yr for UUP.
Performance
IDEC vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, IDEC achieves a 6.27% return, which is significantly higher than UUP's 5.11% return.
IDEC
- 1D
- 0.29%
- 1M
- 0.64%
- YTD
- 6.27%
- 6M
- 6.02%
- 1Y
- 14.22%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UUP
- 1D
- 0.14%
- 1M
- 2.71%
- YTD
- 5.11%
- 6M
- 5.03%
- 1Y
- 9.30%
- 3Y*
- 4.80%
- 5Y*
- 5.76%
- 10Y*
- 3.22%
IDEC vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IDEC Innovator International Developed Power Buffer ETF - December | 6.27% | 21.78% | 2.50% | 3.27% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.11% | -4.99% | 13.50% | -1.61% |
Correlation
The correlation between IDEC and UUP is -0.54, 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 | -0.54 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2023 | -0.52 |
The correlation between IDEC and UUP has been stable across timeframes, ranging from -0.54 to -0.52 - a consistent structural relationship.
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Return for Risk
IDEC vs. UUP — Risk / Return Rank
IDEC
UUP
IDEC vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF - December (IDEC) 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.
| IDEC | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.28 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 2.56 | -0.48 |
| Martin ratioReturn relative to average drawdown | 8.45 | 7.05 | +1.40 |
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Drawdowns
IDEC vs. UUP - Drawdown Comparison
The maximum IDEC drawdown since its inception was -8.51%, smaller than the maximum UUP drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for IDEC and UUP.
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Drawdown Indicators
| IDEC | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.51% | -22.19% | +13.68% |
Max Drawdown (1Y)Largest decline over 1 year | -6.87% | -3.65% | -3.22% |
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 | -0.40% | -1.57% | +1.17% |
Average DrawdownAverage peak-to-trough decline | -1.51% | -8.89% | +7.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 1.32% | +0.37% |
Volatility
IDEC vs. UUP - Volatility Comparison
Innovator International Developed Power Buffer ETF - December (IDEC) has a higher volatility of 3.13% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.40%. This indicates that IDEC'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
| IDEC | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 1.40% | +1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 7.89% | 4.31% | +3.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.91% | 6.03% | +2.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.69% | 7.22% | +2.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.69% | 6.90% | +2.79% |
IDEC vs. UUP - Expense Ratio Comparison
IDEC has a 0.85% expense ratio, which is higher than UUP's 0.75% expense ratio.
Dividends
IDEC vs. UUP - Dividend Comparison
IDEC has not paid dividends to shareholders, while UUP's dividend yield for the trailing twelve months is around 3.26%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IDEC Innovator International Developed Power Buffer ETF - December | 0.00% | 0.00% | 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
IDEC and UUP have a correlation of -0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IDEC has higher volatility (3.13%) compared to UUP (1.40%). In terms of maximum drawdown, IDEC dropped -8.51% vs UUP's -22.19%.
On 1-year performance, IDEC leads with 14.22% vs 9.30% for UUP. On fees, UUP is cheaper at 0.75% per year. On volatility, UUP has been the lower-risk option at 1.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IDEC has performed better with a 14.22% return vs 9.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UUP is cheaper with a 0.75% expense ratio, compared with 0.85% for IDEC.
UUP has the higher dividend yield at 3.26%, compared with 0.00% for IDEC.
IDEC is categorized as Options Trading, while UUP is Currency. They also come from different issuers: Innovator and Invesco. Their fees differ too: 0.85% for IDEC and 0.75% for UUP.
IDEC currently has the higher Sharpe Ratio (1.60 vs 1.56), 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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