SCHG vs. UUP

Last updated Jun 9, 2026

SCHG (Schwab U.S. Large-Cap Growth ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - SCHG is a Large Cap Growth Equities fund tracking the Dow Jones U.S. Large-Cap Growth Total Stock Market 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 10 years, SCHG returned 18.53%/yr vs 3.19%/yr for UUP. At a correlation of -0.19, they often move in opposite directions. SCHG charges 0.04%/yr vs 0.75%/yr for UUP.

Performance

SCHG vs. UUP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Large-Cap Growth ETF (SCHG) and Invesco DB US Dollar Index Bullish Fund (UUP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SCHG having a 3.75% return and UUP slightly lower at 3.70%. Over the past 10 years, SCHG has outperformed UUP with an annualized return of 18.53%, while UUP has yielded a comparatively lower 3.19% annualized return.

SCHG

• 1D: 0.15%
• 1M: -0.94%
• YTD: 3.75%
• 6M: 2.93%
• 1Y: 20.82%
• 3Y*: 24.03%
• 5Y*: 14.90%
• 10Y*: 18.53%

UUP

• 1D: 0.04%
• 1M: 2.52%
• YTD: 3.70%
• 6M: 3.08%
• 1Y: 5.64%
• 3Y*: 4.21%
• 5Y*: 6.04%
• 10Y*: 3.19%

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

SCHG vs. UUP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHG Schwab U.S. Large-Cap Growth ETF	3.75%	17.50%	34.95%	50.10%	-31.80%	28.11%	39.14%	36.02%	-1.36%	28.05%
UUP Invesco DB US Dollar Index Bullish Fund	3.70%	-4.99%	13.50%	3.63%	9.46%	5.73%	-6.66%	4.09%	7.05%	-9.10%

Correlation

The correlation between SCHG and UUP is -0.29, 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	-0.29
Correlation (3Y) Calculated over the trailing 3-year period	-0.19
Correlation (5Y) Calculated over the trailing 5-year period	-0.25
Correlation (10Y) Calculated over the trailing 10-year period	-0.17
Correlation (All Time) Calculated using the full available price history since Dec 14, 2009	-0.19

The correlation between SCHG and UUP shifts across timeframes, from -0.29 (1 year) to -0.17 (10 years), reflecting how their relationship changes across market environments.

SCHG vs. UUP - Sectors Allocation Comparison

Sectors	SCHG	UUP
Technology	46.3%	-
Communication Services	16.0%	-
Consumer Cyclical	12.7%	-
Healthcare	7.7%	-
Financial Services	6.7%	97.4%
Industrials	5.8%	-
Consumer Defensive	1.7%	-
Basic Materials	1.4%	-
Energy	0.8%	-
Real Estate	0.5%	-
Utilities	0.4%	-

Return for Risk

SCHG vs. UUP — Risk / Return Rank

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

SCHG

SCHG Risk / Return Rank: 36
SCHG Sharpe Ratio Rank: 42
SCHG Sortino Ratio Rank: 39
SCHG Omega Ratio Rank: 40
SCHG Calmar Ratio Rank: 29
SCHG Martin Ratio Rank: 32

UUP

UUP Risk / Return Rank: 29
UUP Sharpe Ratio Rank: 28
UUP Sortino Ratio Rank: 27
UUP Omega Ratio Rank: 26
UUP Calmar Ratio Rank: 35
UUP Martin Ratio Rank: 31

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.

SCHG vs. UUP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap Growth ETF (SCHG) 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.

	SCHG	UUP	Difference
Sharpe ratio: Return per unit of total volatility	1.33	0.93	+0.40
Sortino ratio: Return per unit of downside risk	1.82	1.34	+0.48
Omega ratio: Gain probability vs. loss probability	1.24	1.16	+0.07
Calmar ratio: Return relative to maximum drawdown	1.27	1.55	-0.28
Martin ratio: Return relative to average drawdown	4.25	4.13	+0.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHG vs. UUP - Sharpe Ratio Comparison

The current SCHG Sharpe Ratio is 1.33, which is higher than the UUP Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of SCHG 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.

Sharpe Ratios by Period

	SCHG	UUP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	0.93	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.84	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.46	+0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.20	+0.63

Drawdowns

SCHG vs. UUP - Drawdown Comparison

The maximum SCHG drawdown since its inception was -34.59%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for SCHG and UUP.

Drawdown Indicators

	SCHG	UUP	Difference
Max Drawdown Largest peak-to-trough decline	-34.59%	-22.19%	-12.40%
Max Drawdown (1Y) Largest decline over 1 year	-16.41%	-3.65%	-12.76%
Max Drawdown (3Y) Largest decline over 3 years	-23.39%	-10.05%	-13.34%
Max Drawdown (5Y) Largest decline over 5 years	-34.59%	-10.37%	-24.22%
Max Drawdown (10Y) Largest decline over 10 years	-34.59%	-14.24%	-20.35%
Current Drawdown Current decline from peak	-4.25%	-2.89%	-1.36%
Average Drawdown Average peak-to-trough decline	-5.20%	-8.91%	+3.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.91%	1.37%	+3.54%

Volatility

SCHG vs. UUP - Volatility Comparison

Schwab U.S. Large-Cap Growth ETF (SCHG) has a higher volatility of 4.52% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.23%. This indicates that SCHG'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

	SCHG	UUP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	1.23%	+3.29%
Volatility (6M) Calculated over the trailing 6-month period	12.02%	4.25%	+7.77%
Volatility (1Y) Calculated over the trailing 1-year period	15.77%	6.09%	+9.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.31%	7.22%	+15.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.58%	6.96%	+14.62%

SCHG vs. UUP - Expense Ratio Comparison

SCHG has a 0.04% expense ratio, which is lower than UUP's 0.75% expense ratio.

Dividends

SCHG vs. UUP - Dividend Comparison

SCHG's dividend yield for the trailing twelve months is around 0.37%, less than UUP's 3.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHG Schwab U.S. Large-Cap Growth ETF	0.37%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%
UUP Invesco DB US Dollar Index Bullish Fund	3.31%	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

Can I hold both SCHG and UUP in my portfolio?

SCHG and UUP have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHG or UUP?

SCHG has higher volatility (4.52%) compared to UUP (1.23%). In terms of maximum drawdown, SCHG dropped -34.59% vs UUP's -22.19%.

Which ETF is better, SCHG or UUP?

On 10-year performance, SCHG leads with 18.53% vs 3.19% for UUP. On fees, SCHG is cheaper at 0.04% per year. On volatility, UUP has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHG or UUP?

Over the 10-year period, SCHG has performed better with a 18.53% return vs 3.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHG or UUP?

SCHG is cheaper with a 0.04% expense ratio, compared with 0.75% for UUP.

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

UUP has the higher dividend yield at 3.31%, compared with 0.37% for SCHG.

What is the main difference between SCHG and UUP?

SCHG is categorized as Large Cap Growth Equities, while UUP is Currency. SCHG tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: Charles Schwab and Invesco. Their fees differ too: 0.04% for SCHG and 0.75% for UUP.

Which has better risk-adjusted returns?

SCHG currently has the higher Sharpe Ratio (1.33 vs 0.93), 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.