LCDL vs. UUP

Last updated Jul 22, 2026

LCDL (GraniteShares 2x Long LCID Daily ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - LCDL is a Leveraged Equities fund actively managed by GraniteShares, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. LCDL is actively managed, while UUP is passively managed. Over the past year, LCDL returned -99.04% vs 8.12% for UUP. At a correlation of -0.06, they often move in opposite directions. LCDL charges 1.15%/yr vs 0.75%/yr for UUP.

Performance

LCDL vs. UUP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long LCID Daily ETF (LCDL) 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, LCDL achieves a -91.18% return, which is significantly lower than UUP's 5.36% return.

LCDL

• 1D: 0.00%
• 1M: -51.66%
• 6M: -89.43%
• YTD: -91.18%
• 1Y: -99.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -97.37%

UUP

• 1D: 0.32%
• 1M: 0.64%
• 6M: 4.67%
• YTD: 5.36%
• 1Y: 8.12%
• 3Y*: 5.41%
• 5Y*: 5.76%
• 10Y*: 3.06%
• ALL TIME*: 1.71%

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

LCDL vs. UUP - Yearly Performance Comparison

	2026 (YTD)	2025
LCDL GraniteShares 2x Long LCID Daily ETF	-91.18%	-87.31%
UUP Invesco DB US Dollar Index Bullish Fund	5.36%	3.38%

Correlation

The correlation between LCDL and UUP is -0.16, 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	-0.16
Correlation (All Time) Calculated using the full available price history since Apr 22, 2025	-0.06

The correlation between LCDL and UUP shifts across timeframes, from -0.16 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LCDL vs. UUP — Risk / Return Rank

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

LCDL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

UUP

UUP Risk / Return Rank: 54
UUP Sharpe Ratio Rank: 54
UUP Sortino Ratio Rank: 53
UUP Omega Ratio Rank: 52
UUP Calmar Ratio Rank: 60
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.

LCDL vs. UUP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long LCID Daily ETF (LCDL) 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.

	LCDL	UUP	Difference
Sharpe ratio: Return per unit of total volatility	-0.66	1.36	-2.03
Sortino ratio: Return per unit of downside risk	-3.10	1.96	-5.06
Omega ratio: Gain probability vs. loss probability	0.66	1.25	-0.59
Calmar ratio: Return relative to maximum drawdown	-1.00	2.24	-3.24
Martin ratio: Return relative to average drawdown	-1.19	6.18	-7.37

LCDL vs. UUP - Sharpe Ratio Comparison

The current LCDL Sharpe Ratio is -0.66, which is lower than the UUP Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of LCDL 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

LCDL vs. UUP - Drawdown Comparison

The maximum LCDL drawdown since its inception was -99.25%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for LCDL and UUP.

Drawdown Indicators

	LCDL	UUP	Difference
Max Drawdown Largest peak-to-trough decline	-99.25%	-22.19%	-77.06%
Max Drawdown (1Y) Largest decline over 1 year	-99.22%	-3.65%	-95.57%
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	-99.25%	-1.33%	-97.92%
Average Drawdown Average peak-to-trough decline	-71.54%	-8.87%	-62.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	83.53%	1.32%	+82.21%

Volatility

LCDL vs. UUP - Volatility Comparison

GraniteShares 2x Long LCID Daily ETF (LCDL) has a higher volatility of 89.58% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.31%. This indicates that LCDL'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

	LCDL	UUP	Difference
Volatility (1M) Calculated over the trailing 1-month period	89.58%	1.31%	+88.27%
Volatility (6M) Calculated over the trailing 6-month period	129.98%	4.39%	+125.59%
Volatility (1Y) Calculated over the trailing 1-year period	167.73%	6.02%	+161.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	158.97%	7.22%	+151.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	158.97%	6.90%	+152.07%

LCDL vs. UUP - Expense Ratio Comparison

LCDL has a 1.15% expense ratio, which is higher than UUP's 0.75% expense ratio.

Dividends

LCDL vs. UUP - Dividend Comparison

LCDL 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
LCDL GraniteShares 2x Long LCID Daily 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

Can I hold both LCDL and UUP in my portfolio?

LCDL and UUP have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LCDL or UUP?

LCDL has higher volatility (89.58%) compared to UUP (1.31%). In terms of maximum drawdown, LCDL dropped -99.25% vs UUP's -22.19%.

Which ETF is better, LCDL or UUP?

On 1-year performance, UUP leads with 8.12% vs -99.04% for LCDL. On fees, UUP is cheaper at 0.75% per year. On volatility, UUP has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LCDL or UUP?

Over the 1-year period, UUP has performed better with a 8.12% return vs -99.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LCDL or UUP?

UUP is cheaper with a 0.75% expense ratio, compared with 1.15% for LCDL.

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

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

What is the main difference between LCDL and UUP?

LCDL is categorized as Leveraged Equities, while UUP is Currency. They also come from different issuers: GraniteShares and Invesco. Their fees differ too: 1.15% for LCDL and 0.75% for UUP.

Which has better risk-adjusted returns?

UUP currently has the higher Sharpe Ratio (1.36 vs -0.66), 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.