IGLD vs. UUP

Last updated Jul 15, 2026

IGLD (FT Vest Gold Strategy Target Income ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - IGLD is a Gold fund actively managed by First Trust, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. IGLD is actively managed, while UUP is passively managed. Over the past 5 years, IGLD returned 11.92%/yr vs 5.75%/yr for UUP. At a correlation of -0.43, they often move in opposite directions. IGLD charges 0.85%/yr vs 0.75%/yr for UUP.

Performance

IGLD vs. UUP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Gold Strategy Target Income ETF (IGLD) and Invesco DB US Dollar Index Bullish Fund (UUP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGLD achieves a -6.69% return, which is significantly lower than UUP's 5.03% return.

IGLD

• 1D: 1.36%
• 1M: -3.36%
• 6M: -11.37%
• YTD: -6.69%
• 1Y: 14.23%
• 3Y*: 19.47%
• 5Y*: 11.92%
• 10Y*: —

UUP

• 1D: -0.39%
• 1M: 1.57%
• 6M: 3.80%
• YTD: 5.03%
• 1Y: 7.58%
• 3Y*: 5.73%
• 5Y*: 5.75%
• 10Y*: 3.13%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IGLD vs. UUP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IGLD FT Vest Gold Strategy Target Income ETF	-6.69%	47.46%	19.36%	9.24%	-2.34%	4.30%
UUP Invesco DB US Dollar Index Bullish Fund	5.03%	-4.99%	13.50%	3.63%	9.46%	4.83%

Correlation

The correlation between IGLD and UUP is -0.42, 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	-0.42
Correlation (3Y) Calculated over the trailing 3-year period	-0.39
Correlation (5Y) Calculated over the trailing 5-year period	-0.42
Correlation (All Time) Calculated using the full available price history since Mar 3, 2021	-0.43

Return for Risk

IGLD vs. UUP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IGLD

IGLD Risk / Return Rank: 20
IGLD Sharpe Ratio Rank: 20
IGLD Sortino Ratio Rank: 20
IGLD Omega Ratio Rank: 22
IGLD Calmar Ratio Rank: 18
IGLD Martin Ratio Rank: 18

UUP

UUP Risk / Return Rank: 45
UUP Sharpe Ratio Rank: 45
UUP Sortino Ratio Rank: 44
UUP Omega Ratio Rank: 43
UUP Calmar Ratio Rank: 52
UUP Martin Ratio Rank: 44

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IGLD vs. UUP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Gold Strategy Target Income ETF (IGLD) 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.

	IGLD	UUP	Difference
Sharpe ratio: Return per unit of total volatility	0.57	1.26	-0.69
Sortino ratio: Return per unit of downside risk	0.90	1.82	-0.92
Omega ratio: Gain probability vs. loss probability	1.13	1.23	-0.10
Calmar ratio: Return relative to maximum drawdown	0.60	2.09	-1.49
Martin ratio: Return relative to average drawdown	1.54	5.73	-4.20

IGLD vs. UUP - Sharpe Ratio Comparison

The current IGLD Sharpe Ratio is 0.57, which is lower than the UUP Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of IGLD and UUP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IGLD vs. UUP - Drawdown Comparison

The maximum IGLD drawdown since its inception was -23.84%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for IGLD and UUP.

Drawdown Indicators

	IGLD	UUP	Difference
Max Drawdown Largest peak-to-trough decline	-23.84%	-22.19%	-1.65%
Max Drawdown (1Y) Largest decline over 1 year	-23.84%	-3.65%	-20.19%
Max Drawdown (3Y) Largest decline over 3 years	-23.84%	-10.05%	-13.79%
Max Drawdown (5Y) Largest decline over 5 years	-23.84%	-10.37%	-13.47%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.24%	—
Current Drawdown Current decline from peak	-22.15%	-1.64%	-20.51%
Average Drawdown Average peak-to-trough decline	-5.54%	-8.88%	+3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.28%	1.33%	+7.95%

Volatility

IGLD vs. UUP - Volatility Comparison

FT Vest Gold Strategy Target Income ETF (IGLD) has a higher volatility of 7.01% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.46%. This indicates that IGLD'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.

Volatility by Period

	IGLD	UUP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.01%	1.46%	+5.55%
Volatility (6M) Calculated over the trailing 6-month period	22.45%	4.36%	+18.09%
Volatility (1Y) Calculated over the trailing 1-year period	24.88%	6.03%	+18.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.66%	7.21%	+8.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.41%	6.90%	+8.51%

IGLD vs. UUP - Expense Ratio Comparison

IGLD has a 0.85% expense ratio, which is higher than UUP's 0.75% expense ratio.

Dividends

IGLD vs. UUP - Dividend Comparison

IGLD's dividend yield for the trailing twelve months is around 21.37%, more than UUP's 3.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGLD FT Vest Gold Strategy Target Income ETF	21.37%	9.91%	20.81%	7.85%	4.45%	2.24%	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

Can I hold both IGLD and UUP in my portfolio?

IGLD and UUP have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGLD or UUP?

IGLD has higher volatility (7.01%) compared to UUP (1.46%). In terms of maximum drawdown, IGLD dropped -23.84% vs UUP's -22.19%.

Which ETF is better, IGLD or UUP?

On 5-year performance, IGLD leads with 11.92% vs 5.75% for UUP. On fees, UUP is cheaper at 0.75% per year. On volatility, UUP has been the lower-risk option at 1.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGLD or UUP?

Over the 5-year period, IGLD has performed better with a 11.92% return vs 5.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGLD or UUP?

UUP is cheaper with a 0.75% expense ratio, compared with 0.85% for IGLD.

Which ETF pays a higher dividend yield, IGLD or UUP?

IGLD has the higher dividend yield at 21.37%, compared with 3.26% for UUP.

What is the main difference between IGLD and UUP?

IGLD is categorized as Gold, while UUP is Currency. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.85% for IGLD and 0.75% for UUP.

Which has better risk-adjusted returns?

UUP currently has the higher Sharpe Ratio (1.26 vs 0.57), 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.