IS0R.DE vs. UUP
IS0R.DE (iShares USD High Yield Corporate Bond UCITS ETF USD (Dist)) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - IS0R.DE is a High Yield Bonds fund tracking the iBoxx® USD Liquid High Yield Capped, 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, IS0R.DE returned 4.40%/yr vs 2.68%/yr for UUP. A 0.53 correlation means they provide meaningful diversification when combined. IS0R.DE charges 0.50%/yr vs 0.75%/yr for UUP.
Performance
IS0R.DE vs. UUP - Performance Comparison
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Different Trading Currencies
IS0R.DE is traded in EUR, while UUP is traded in USD. To make them comparable, the UUP values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IS0R.DE achieves a 4.69% return, which is significantly lower than UUP's 7.02% return. Over the past 10 years, IS0R.DE has outperformed UUP with an annualized return of 4.40%, while UUP has yielded a comparatively lower 2.68% annualized return.
IS0R.DE
- 1D
- 0.23%
- 1M
- 1.58%
- 6M
- 3.42%
- YTD
- 4.69%
- 1Y
- 7.85%
- 3Y*
- 7.32%
- 5Y*
- 4.58%
- 10Y*
- 4.40%
UUP
- 1D
- -0.96%
- 1M
- 2.04%
- 6M
- 4.93%
- YTD
- 7.02%
- 1Y
- 7.66%
- 3Y*
- 4.80%
- 5Y*
- 6.23%
- 10Y*
- 2.68%
IS0R.DE vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS0R.DE iShares USD High Yield Corporate Bond UCITS ETF USD (Dist) | 4.69% | -2.53% | 12.69% | 6.98% | -3.50% | 12.85% | -4.57% | 16.09% | 2.76% | -7.28% |
UUP Invesco DB US Dollar Index Bullish Fund | 7.02% | -16.26% | 20.99% | 0.52% | 16.24% | 13.64% | -14.36% | 6.44% | 12.07% | -20.27% |
Correlation
The correlation between IS0R.DE and UUP is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2011 | 0.53 |
The correlation between IS0R.DE and UUP shifts across timeframes, from 0.51 (5 years) to 0.62 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IS0R.DE vs. UUP — Risk / Return Rank
IS0R.DE
UUP
IS0R.DE vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD High Yield Corporate Bond UCITS ETF USD (Dist) (IS0R.DE) 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.
| IS0R.DE | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.12 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 0.98 | +1.53 |
| Martin ratioReturn relative to average drawdown | 8.35 | 2.49 | +5.86 |
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Drawdowns
IS0R.DE vs. UUP - Drawdown Comparison
The maximum IS0R.DE drawdown since its inception was -23.27%, smaller than the maximum UUP drawdown of -34.79%. Use the drawdown chart below to compare losses from any high point for IS0R.DE and UUP.
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Drawdown Indicators
| IS0R.DE | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.27% | -34.79% | +11.52% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -7.84% | +4.73% |
Max Drawdown (3Y)Largest decline over 3 years | -11.43% | -22.00% | +10.57% |
Max Drawdown (5Y)Largest decline over 5 years | -11.43% | -22.51% | +11.08% |
Max Drawdown (10Y)Largest decline over 10 years | -22.05% | -27.97% | +5.92% |
Current DrawdownCurrent decline from peak | -1.14% | -12.62% | +11.48% |
Average DrawdownAverage peak-to-trough decline | -6.71% | -15.44% | +8.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 3.09% | -2.15% |
Volatility
IS0R.DE vs. UUP - Volatility Comparison
The current volatility for iShares USD High Yield Corporate Bond UCITS ETF USD (Dist) (IS0R.DE) is 1.44%, while Invesco DB US Dollar Index Bullish Fund (UUP) has a volatility of 3.08%. This indicates that IS0R.DE 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
| IS0R.DE | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 3.08% | -1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 3.62% | 8.77% | -5.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.61% | 12.14% | -6.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.62% | 14.71% | -7.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.80% | 13.98% | -5.18% |
IS0R.DE vs. UUP - Expense Ratio Comparison
IS0R.DE has a 0.50% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
IS0R.DE vs. UUP - Dividend Comparison
IS0R.DE's dividend yield for the trailing twelve months is around 6.09%, more than UUP's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS0R.DE iShares USD High Yield Corporate Bond UCITS ETF USD (Dist) | 6.09% | 6.34% | 6.26% | 5.74% | 4.94% | 4.18% | 5.22% | 5.46% | 5.65% | 5.88% | 5.32% | 6.02% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.28% | 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
IS0R.DE and UUP have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS0R.DE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS0R.DE is cheaper with a 0.50% expense ratio, compared with 0.75% for UUP.
IS0R.DE is categorized as High Yield Bonds, while UUP is Currency. IS0R.DE tracks iBoxx® USD Liquid High Yield Capped, 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: 0.50% for IS0R.DE and 0.75% for UUP.
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