UDN vs. BTC-USD
Compare and contrast key facts about Invesco DB US Dollar Index Bearish Fund (UDN) and Bitcoin (BTC-USD).
UDN is a passively managed fund by Invesco that tracks the performance of the Deutsche Bank Short USD Currency Portfolio Index. It was launched on Feb 20, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: UDN or BTC-USD.
Key characteristics
| UDN | BTC-USD | |
|---|---|---|
| YTD Return | -2.60% | 48.80% |
| 1Y Return | -0.64% | 118.01% |
| 3Y Return (Ann) | -3.83% | 5.36% |
| 5Y Return (Ann) | -1.33% | 61.10% |
| 10Y Return (Ann) | -3.33% | 64.67% |
| Sharpe Ratio | -0.12 | 5.04 |
| Daily Std Dev | 6.42% | 39.07% |
| Max Drawdown | -41.67% | -93.07% |
| Current Drawdown | -33.96% | -13.95% |
Correlation
The correlation between UDN and BTC-USD is 0.05, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
UDN vs. BTC-USD - Performance Comparison
In the year-to-date period, UDN achieves a -2.60% return, which is significantly lower than BTC-USD's 48.80% return. Over the past 10 years, UDN has underperformed BTC-USD with an annualized return of -3.33%, while BTC-USD has yielded a comparatively higher 64.67% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
UDN vs. BTC-USD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB US Dollar Index Bearish Fund (UDN) and Bitcoin (BTC-USD). 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.
Drawdowns
UDN vs. BTC-USD - Drawdown Comparison
The maximum UDN drawdown since its inception was -41.67%, smaller than the maximum BTC-USD drawdown of -93.07%. Use the drawdown chart below to compare losses from any high point for UDN and BTC-USD. For additional features, visit the drawdowns tool.
Volatility
UDN vs. BTC-USD - Volatility Comparison
The current volatility for Invesco DB US Dollar Index Bearish Fund (UDN) is 2.06%, while Bitcoin (BTC-USD) has a volatility of 16.06%. This indicates that UDN experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.