IJUN vs. UUP

Last updated Jul 2, 2026

IJUN (Innovator International Developed Power Buffer ETF - June) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - IJUN is a Defined Outcome fund actively managed by Innovator, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. IJUN is actively managed, while UUP is passively managed. Over the past year, IJUN returned 12.19% vs 9.65% for UUP. At a correlation of -0.49, they often move in opposite directions. IJUN charges 0.85%/yr vs 0.75%/yr for UUP.

Performance

IJUN vs. UUP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Power Buffer ETF - June (IJUN) 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, IJUN achieves a 6.28% return, which is significantly higher than UUP's 5.40% return.

IJUN

• 1D: -0.38%
• 1M: 0.08%
• YTD: 6.28%
• 6M: 6.28%
• 1Y: 12.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UUP

• 1D: 0.28%
• 1M: 2.63%
• YTD: 5.40%
• 6M: 5.40%
• 1Y: 9.65%
• 3Y*: 4.90%
• 5Y*: 5.91%
• 10Y*: 3.25%

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

IJUN vs. UUP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IJUN Innovator International Developed Power Buffer ETF - June	6.28%	18.70%	-2.46%
UUP Invesco DB US Dollar Index Bullish Fund	5.40%	-4.99%	7.25%

Correlation

The correlation between IJUN and UUP is -0.55, 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	-0.55
Correlation (All Time) Calculated using the full available price history since Jun 3, 2024	-0.49

The correlation between IJUN and UUP has been stable across timeframes, ranging from -0.55 to -0.49 - a consistent structural relationship.

Return for Risk

IJUN vs. UUP — Risk / Return Rank

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

IJUN

IJUN Risk / Return Rank: 56
IJUN Sharpe Ratio Rank: 53
IJUN Sortino Ratio Rank: 55
IJUN Omega Ratio Rank: 54
IJUN Calmar Ratio Rank: 56
IJUN Martin Ratio Rank: 63

UUP

UUP Risk / Return Rank: 56
UUP Sharpe Ratio Rank: 55
UUP Sortino Ratio Rank: 56
UUP Omega Ratio Rank: 54
UUP Calmar Ratio Rank: 63
UUP Martin Ratio Rank: 50

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.

IJUN vs. UUP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF - June (IJUN) 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.

	IJUN	UUP	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.61	-0.07
Sortino ratio: Return per unit of downside risk	2.24	2.32	-0.08
Omega ratio: Gain probability vs. loss probability	1.29	1.29	-0.01
Calmar ratio: Return relative to maximum drawdown	2.33	2.66	-0.32
Martin ratio: Return relative to average drawdown	9.56	7.32	+2.25

IJUN vs. UUP - Sharpe Ratio Comparison

The current IJUN Sharpe Ratio is 1.54, which is comparable to the UUP Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of IJUN 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

IJUN vs. UUP - Drawdown Comparison

The maximum IJUN drawdown since its inception was -7.31%, smaller than the maximum UUP drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for IJUN and UUP.

Drawdown Indicators

	IJUN	UUP	Difference
Max Drawdown Largest peak-to-trough decline	-7.31%	-22.19%	+14.88%
Max Drawdown (1Y) Largest decline over 1 year	-5.25%	-3.65%	-1.60%
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 Drawdown Current decline from peak	-1.05%	-1.30%	+0.25%
Average Drawdown Average peak-to-trough decline	-1.67%	-8.89%	+7.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.28%	1.32%	-0.04%

Volatility

IJUN vs. UUP - Volatility Comparison

Innovator International Developed Power Buffer ETF - June (IJUN) has a higher volatility of 3.09% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.39%. This indicates that IJUN'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

	IJUN	UUP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.09%	1.39%	+1.70%
Volatility (6M) Calculated over the trailing 6-month period	6.56%	4.31%	+2.25%
Volatility (1Y) Calculated over the trailing 1-year period	7.95%	6.01%	+1.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.95%	7.22%	+1.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.95%	6.90%	+2.05%

IJUN vs. UUP - Expense Ratio Comparison

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

Dividends

IJUN vs. UUP - Dividend Comparison

IJUN has not paid dividends to shareholders, while UUP's dividend yield for the trailing twelve months is around 3.25%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IJUN Innovator International Developed Power Buffer ETF - June	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	3.25%	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 IJUN and UUP in my portfolio?

IJUN and UUP have a correlation of -0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IJUN or UUP?

IJUN has higher volatility (3.09%) compared to UUP (1.39%). In terms of maximum drawdown, IJUN dropped -7.31% vs UUP's -22.19%.

Which ETF is better, IJUN or UUP?

On 1-year performance, IJUN leads with 12.19% vs 9.65% for UUP. On fees, UUP is cheaper at 0.75% per year. On volatility, UUP has been the lower-risk option at 1.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IJUN or UUP?

Over the 1-year period, IJUN has performed better with a 12.19% return vs 9.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IJUN or UUP?

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

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

UUP has the higher dividend yield at 3.25%, compared with 0.00% for IJUN.

What is the main difference between IJUN and UUP?

IJUN is categorized as Defined Outcome, while UUP is Currency. They also come from different issuers: Innovator and Invesco. Their fees differ too: 0.85% for IJUN and 0.75% for UUP.

Which has better risk-adjusted returns?

UUP currently has the higher Sharpe Ratio (1.61 vs 1.54), 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.