KSTR vs. UUP
KSTR (KraneShares SSE STAR Market 50 Index ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - KSTR is a China Equities fund tracking the SSE Science and Technology Innovation Board 50 Index, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. Both are passively managed. Over the past 5 years, KSTR returned 1.09%/yr vs 5.89%/yr for UUP. At a correlation of -0.25, they often move in opposite directions. KSTR charges 0.89%/yr vs 0.75%/yr for UUP.
Performance
KSTR vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, KSTR achieves a 52.98% return, which is significantly higher than UUP's 5.44% return.
KSTR
- 1D
- -5.54%
- 1M
- 17.74%
- 6M
- 33.72%
- YTD
- 52.98%
- 1Y
- 108.49%
- 3Y*
- 24.92%
- 5Y*
- 1.09%
- 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%
KSTR vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
KSTR KraneShares SSE STAR Market 50 Index ETF | 52.98% | 42.82% | 6.12% | -17.93% | -38.51% | -2.01% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 3.63% | 9.46% | 5.47% |
Correlation
The correlation between KSTR and UUP is -0.27, 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 | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.25 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2021 | -0.25 |
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Return for Risk
KSTR vs. UUP — Risk / Return Rank
KSTR
UUP
KSTR vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares SSE STAR Market 50 Index ETF (KSTR) 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.
| KSTR | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.28 | ||
| Sortino ratioReturn per unit of downside risk | +1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.25 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 6.16 | 2.28 | +3.88 |
| Martin ratioReturn relative to average drawdown | 14.79 | 6.26 | +8.53 |
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Drawdowns
KSTR vs. UUP - Drawdown Comparison
The maximum KSTR drawdown since its inception was -66.46%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for KSTR and UUP.
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Drawdown Indicators
| KSTR | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.46% | -22.19% | -44.27% |
Max Drawdown (1Y)Largest decline over 1 year | -17.70% | -3.65% | -14.05% |
Max Drawdown (3Y)Largest decline over 3 years | -41.55% | -10.05% | -31.50% |
Max Drawdown (5Y)Largest decline over 5 years | -66.31% | -10.37% | -55.94% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.24% | — |
Current DrawdownCurrent decline from peak | -11.99% | -1.26% | -10.73% |
Average DrawdownAverage peak-to-trough decline | -38.15% | -8.88% | -29.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.36% | 1.33% | +6.03% |
Volatility
KSTR vs. UUP - Volatility Comparison
KraneShares SSE STAR Market 50 Index ETF (KSTR) has a higher volatility of 20.33% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.45%. This indicates that KSTR'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
| KSTR | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.33% | 1.45% | +18.88% |
Volatility (6M)Calculated over the trailing 6-month period | 33.29% | 4.34% | +28.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.01% | 6.03% | +34.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.31% | 7.22% | +32.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.44% | 6.90% | +31.54% |
KSTR vs. UUP - Expense Ratio Comparison
KSTR has a 0.89% expense ratio, which is higher than UUP's 0.75% expense ratio.
Dividends
KSTR vs. UUP - Dividend Comparison
KSTR 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 |
|---|---|---|---|---|---|---|---|---|---|---|
KSTR KraneShares SSE STAR Market 50 Index ETF | 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
KSTR and UUP have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KSTR has higher volatility (20.33%) compared to UUP (1.45%). In terms of maximum drawdown, KSTR dropped -66.46% vs UUP's -22.19%.
On 5-year performance, UUP leads with 5.89% vs 1.09% for KSTR. On fees, UUP is cheaper at 0.75% per year. On volatility, UUP has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UUP has performed better with a 5.89% return vs 1.09%. 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 0.89% for KSTR.
UUP has the higher dividend yield at 3.25%, compared with 0.00% for KSTR.
KSTR is categorized as China Equities, while UUP is Currency. KSTR tracks SSE Science and Technology Innovation Board 50 Index, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: KraneShares and Invesco. Their fees differ too: 0.89% for KSTR and 0.75% for UUP.
KSTR currently has the higher Sharpe Ratio (2.67 vs 1.38), 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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