JHCB vs. UUP

Last updated Jul 14, 2026

JHCB (John Hancock Corporate Bond ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - JHCB is a Corporate Bonds fund actively managed by John Hancock, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. JHCB is actively managed, while UUP is passively managed. Over the past 5 years, JHCB returned 0.12%/yr vs 5.89%/yr for UUP. At a correlation of -0.37, they often move in opposite directions. JHCB charges 0.29%/yr vs 0.75%/yr for UUP.

Performance

JHCB vs. UUP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Corporate Bond ETF (JHCB) 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, JHCB achieves a -0.27% return, which is significantly lower than UUP's 5.44% return.

JHCB

• 1D: -0.27%
• 1M: -0.94%
• 6M: -0.50%
• YTD: -0.27%
• 1Y: 3.58%
• 3Y*: 5.20%
• 5Y*: 0.12%
• 10Y*: —

UUP

• 1D: 0.39%
• 1M: 1.97%
• 6M: 4.47%
• YTD: 5.44%
• 1Y: 8.28%
• 3Y*: 5.86%
• 5Y*: 5.89%
• 10Y*: 3.17%

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

JHCB vs. UUP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JHCB John Hancock Corporate Bond ETF	-0.27%	8.02%	2.75%	8.89%	-15.93%	3.29%
UUP Invesco DB US Dollar Index Bullish Fund	5.44%	-4.99%	13.50%	3.63%	9.46%	1.95%

Correlation

The correlation between JHCB and UUP is -0.45, 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	-0.45
Correlation (3Y) Calculated over the trailing 3-year period	-0.41
Correlation (5Y) Calculated over the trailing 5-year period	-0.38
Correlation (All Time) Calculated using the full available price history since Mar 31, 2021	-0.37

Return for Risk

JHCB vs. UUP — Risk / Return Rank

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

JHCB

JHCB Risk / Return Rank: 28
JHCB Sharpe Ratio Rank: 28
JHCB Sortino Ratio Rank: 26
JHCB Omega Ratio Rank: 25
JHCB Calmar Ratio Rank: 28
JHCB Martin Ratio Rank: 31

UUP

UUP Risk / Return Rank: 51
UUP Sharpe Ratio Rank: 50
UUP Sortino Ratio Rank: 50
UUP Omega Ratio Rank: 49
UUP Calmar Ratio Rank: 57
UUP Martin Ratio Rank: 47

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.

JHCB vs. UUP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Corporate Bond ETF (JHCB) 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.

	JHCB	UUP	Difference
Sharpe ratio: Return per unit of total volatility	0.83	1.38	-0.55
Sortino ratio: Return per unit of downside risk	1.20	1.99	-0.79
Omega ratio: Gain probability vs. loss probability	1.15	1.25	-0.10
Calmar ratio: Return relative to maximum drawdown	1.14	2.28	-1.14
Martin ratio: Return relative to average drawdown	3.64	6.26	-2.62

JHCB vs. UUP - Sharpe Ratio Comparison

The current JHCB Sharpe Ratio is 0.83, which is lower than the UUP Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of JHCB 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

JHCB vs. UUP - Drawdown Comparison

The maximum JHCB drawdown since its inception was -22.61%, roughly equal to the maximum UUP drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for JHCB and UUP.

Drawdown Indicators

	JHCB	UUP	Difference
Max Drawdown Largest peak-to-trough decline	-22.61%	-22.19%	-0.42%
Max Drawdown (1Y) Largest decline over 1 year	-3.16%	-3.65%	+0.49%
Max Drawdown (3Y) Largest decline over 3 years	-6.54%	-10.05%	+3.51%
Max Drawdown (5Y) Largest decline over 5 years	-22.61%	-10.37%	-12.24%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.24%	—
Current Drawdown Current decline from peak	-1.67%	-1.26%	-0.41%
Average Drawdown Average peak-to-trough decline	-8.05%	-8.88%	+0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	1.33%	-0.35%

Volatility

JHCB vs. UUP - Volatility Comparison

The current volatility for John Hancock Corporate Bond ETF (JHCB) is 1.36%, while Invesco DB US Dollar Index Bullish Fund (UUP) has a volatility of 1.45%. This indicates that JHCB 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.

Volatility by Period

	JHCB	UUP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	1.45%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	3.43%	4.34%	-0.91%
Volatility (1Y) Calculated over the trailing 1-year period	4.33%	6.03%	-1.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.94%	7.22%	-0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.83%	6.90%	-0.07%

JHCB vs. UUP - Expense Ratio Comparison

JHCB has a 0.29% expense ratio, which is lower than UUP's 0.75% expense ratio.

Dividends

JHCB vs. UUP - Dividend Comparison

JHCB's dividend yield for the trailing twelve months is around 5.01%, more than UUP's 3.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JHCB John Hancock Corporate Bond ETF	5.01%	4.92%	5.02%	4.35%	3.86%	2.41%	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 JHCB and UUP in my portfolio?

JHCB and UUP have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHCB or UUP?

UUP has higher volatility (1.45%) compared to JHCB (1.36%). In terms of maximum drawdown, JHCB dropped -22.61% vs UUP's -22.19%.

Which ETF is better, JHCB or UUP?

On 5-year performance, UUP leads with 5.89% vs 0.12% for JHCB. On fees, JHCB is cheaper at 0.29% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHCB or UUP?

Over the 5-year period, UUP has performed better with a 5.89% return vs 0.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHCB or UUP?

JHCB is cheaper with a 0.29% expense ratio, compared with 0.75% for UUP.

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

JHCB has the higher dividend yield at 5.01%, compared with 3.25% for UUP.

What is the main difference between JHCB and UUP?

JHCB is categorized as Corporate Bonds, while UUP is Currency. They also come from different issuers: John Hancock and Invesco. Their fees differ too: 0.29% for JHCB and 0.75% for UUP.

Which has better risk-adjusted returns?

UUP currently has the higher Sharpe Ratio (1.38 vs 0.83), 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.