SRLN vs. UUP
SRLN (State Street Blackstone Senior Loan ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - SRLN is a Bank Loan fund actively managed by State Street, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. SRLN is actively managed, while UUP is passively managed. Over the past 10 years, SRLN returned 4.53%/yr vs 3.17%/yr for UUP. At a correlation of -0.15, they often move in opposite directions. SRLN charges 0.70%/yr vs 0.75%/yr for UUP.
Performance
SRLN vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, SRLN achieves a 1.23% return, which is significantly lower than UUP's 5.44% return. Over the past 10 years, SRLN has outperformed UUP with an annualized return of 4.53%, while UUP has yielded a comparatively lower 3.17% annualized return.
SRLN
- 1D
- -0.02%
- 1M
- 0.73%
- 6M
- 0.86%
- YTD
- 1.23%
- 1Y
- 4.53%
- 3Y*
- 7.12%
- 5Y*
- 4.64%
- 10Y*
- 4.53%
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%
SRLN vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRLN State Street Blackstone Senior Loan ETF | 1.23% | 6.77% | 8.43% | 11.62% | -5.30% | 4.49% | 3.13% | 10.03% | -0.66% | 3.39% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -6.66% | 4.09% | 7.05% | -9.10% |
Correlation
The correlation between SRLN and UUP is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.21 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2013 | -0.15 |
The correlation between SRLN and UUP shifts across timeframes, from -0.28 (5 years) to -0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SRLN vs. UUP — Risk / Return Rank
SRLN
UUP
SRLN vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Blackstone Senior Loan ETF (SRLN) 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.
| SRLN | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.25 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 2.28 | -0.88 |
| Martin ratioReturn relative to average drawdown | 5.14 | 6.26 | -1.12 |
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Drawdowns
SRLN vs. UUP - Drawdown Comparison
The maximum SRLN drawdown since its inception was -22.29%, roughly equal to the maximum UUP drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for SRLN and UUP.
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Drawdown Indicators
| SRLN | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.29% | -22.19% | -0.10% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -3.65% | +0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -4.26% | -10.05% | +5.79% |
Max Drawdown (5Y)Largest decline over 5 years | -7.93% | -10.37% | +2.44% |
Max Drawdown (10Y)Largest decline over 10 years | -22.29% | -14.24% | -8.05% |
Current DrawdownCurrent decline from peak | -0.02% | -1.26% | +1.24% |
Average DrawdownAverage peak-to-trough decline | -1.09% | -8.88% | +7.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 1.33% | -0.45% |
Volatility
SRLN vs. UUP - Volatility Comparison
The current volatility for State Street Blackstone Senior Loan ETF (SRLN) is 0.66%, while Invesco DB US Dollar Index Bullish Fund (UUP) has a volatility of 1.45%. This indicates that SRLN 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
| SRLN | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 1.45% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 4.34% | -1.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.93% | 6.03% | -3.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.92% | 7.22% | -3.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.06% | 6.90% | -0.84% |
SRLN vs. UUP - Expense Ratio Comparison
SRLN has a 0.70% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
SRLN vs. UUP - Dividend Comparison
SRLN's dividend yield for the trailing twelve months is around 7.41%, more than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SRLN State Street Blackstone Senior Loan ETF | 7.41% | 7.67% | 8.58% | 8.44% | 5.72% | 4.45% | 4.91% | 5.39% | 4.98% | 4.01% | 3.94% | 4.43% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
SRLN and UUP have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UUP has higher volatility (1.45%) compared to SRLN (0.66%). In terms of maximum drawdown, SRLN dropped -22.29% vs UUP's -22.19%.
On 10-year performance, SRLN leads with 4.53% vs 3.17% for UUP. On fees, SRLN is cheaper at 0.70% per year. On volatility, SRLN has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SRLN has performed better with a 4.53% return vs 3.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SRLN is cheaper with a 0.70% expense ratio, compared with 0.75% for UUP.
SRLN has the higher dividend yield at 7.41%, compared with 3.25% for UUP.
SRLN is categorized as Bank Loan, while UUP is Currency. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.70% for SRLN and 0.75% for UUP.
SRLN currently has the higher Sharpe Ratio (1.55 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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