SVAL vs. UUP
SVAL (iShares US Small Cap Value Factor ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - SVAL is a Small Cap Value Equities fund tracking the Russell 2000 Focused Value Select 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, SVAL returned 9.69%/yr vs 5.89%/yr for UUP. At a correlation of -0.26, they often move in opposite directions. SVAL charges 0.20%/yr vs 0.75%/yr for UUP.
Performance
SVAL vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, SVAL achieves a 23.49% return, which is significantly higher than UUP's 5.44% return.
SVAL
- 1D
- 0.56%
- 1M
- 1.84%
- 6M
- 17.54%
- YTD
- 23.49%
- 1Y
- 32.90%
- 3Y*
- 17.90%
- 5Y*
- 9.69%
- 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%
SVAL vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SVAL iShares US Small Cap Value Factor ETF | 23.49% | 8.23% | 7.54% | 12.27% | -10.15% | 33.18% | 29.82% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -3.96% |
Correlation
The correlation between SVAL and UUP is -0.26, 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 | -0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.27 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2020 | -0.26 |
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Return for Risk
SVAL vs. UUP — Risk / Return Rank
SVAL
UUP
SVAL vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares US Small Cap Value Factor ETF (SVAL) 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.
| SVAL | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.25 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 2.28 | +1.42 |
| Martin ratioReturn relative to average drawdown | 11.75 | 6.26 | +5.49 |
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Drawdowns
SVAL vs. UUP - Drawdown Comparison
The maximum SVAL drawdown since its inception was -27.44%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for SVAL and UUP.
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Drawdown Indicators
| SVAL | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.44% | -22.19% | -5.25% |
Max Drawdown (1Y)Largest decline over 1 year | -8.94% | -3.65% | -5.29% |
Max Drawdown (3Y)Largest decline over 3 years | -27.44% | -10.05% | -17.39% |
Max Drawdown (5Y)Largest decline over 5 years | -27.44% | -10.37% | -17.07% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.24% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.26% | +1.26% |
Average DrawdownAverage peak-to-trough decline | -8.36% | -8.88% | +0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.81% | 1.33% | +1.48% |
Volatility
SVAL vs. UUP - Volatility Comparison
iShares US Small Cap Value Factor ETF (SVAL) has a higher volatility of 3.53% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.45%. This indicates that SVAL'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
| SVAL | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.53% | 1.45% | +2.08% |
Volatility (6M)Calculated over the trailing 6-month period | 11.49% | 4.34% | +7.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.39% | 6.03% | +11.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.13% | 7.22% | +14.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.13% | 6.90% | +16.23% |
SVAL vs. UUP - Expense Ratio Comparison
SVAL has a 0.20% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
SVAL vs. UUP - Dividend Comparison
SVAL's dividend yield for the trailing twelve months is around 2.07%, less than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SVAL iShares US Small Cap Value Factor ETF | 2.07% | 2.33% | 1.82% | 2.25% | 2.09% | 2.33% | 0.28% | 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
SVAL and UUP have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SVAL has higher volatility (3.53%) compared to UUP (1.45%). In terms of maximum drawdown, SVAL dropped -27.44% vs UUP's -22.19%.
On 5-year performance, SVAL leads with 9.69% vs 5.89% for UUP. On fees, SVAL is cheaper at 0.20% 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, SVAL has performed better with a 9.69% return vs 5.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SVAL is cheaper with a 0.20% expense ratio, compared with 0.75% for UUP.
UUP has the higher dividend yield at 3.25%, compared with 2.07% for SVAL.
SVAL is categorized as Small Cap Value Equities, while UUP is Currency. SVAL tracks Russell 2000 Focused Value Select Index, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for SVAL and 0.75% for UUP.
SVAL currently has the higher Sharpe Ratio (1.90 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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