UDN vs. MSFT
Compare and contrast key facts about Invesco DB US Dollar Index Bearish Fund (UDN) and Microsoft Corporation (MSFT).
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.
Performance
UDN vs. MSFT - Performance Comparison
Loading graphics...
UDN vs. MSFT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UDN Invesco DB US Dollar Index Bearish Fund | -1.32% | 12.37% | -4.53% | 4.88% | -7.96% | -7.03% | 6.20% | -0.97% | -5.02% | 9.50% |
MSFT Microsoft Corporation | -23.28% | 15.58% | 12.93% | 58.19% | -28.02% | 52.48% | 42.53% | 57.56% | 20.80% | 40.73% |
Returns By Period
In the year-to-date period, UDN achieves a -1.32% return, which is significantly higher than MSFT's -23.28% return. Over the past 10 years, UDN has underperformed MSFT with an annualized return of -0.49%, while MSFT has yielded a comparatively higher 22.44% annualized return.
UDN
- 1D
- 0.67%
- 1M
- -2.23%
- YTD
- -1.32%
- 6M
- -1.54%
- 1Y
- 5.59%
- 3Y*
- 3.05%
- 5Y*
- -0.33%
- 10Y*
- -0.49%
MSFT
- 1D
- 3.12%
- 1M
- -5.75%
- YTD
- -23.28%
- 6M
- -28.23%
- 1Y
- -0.64%
- 3Y*
- 9.54%
- 5Y*
- 9.74%
- 10Y*
- 22.44%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
UDN vs. MSFT — Risk / Return Rank
UDN
MSFT
UDN vs. MSFT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB US Dollar Index Bearish Fund (UDN) and Microsoft Corporation (MSFT). 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.
| UDN | MSFT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.76 | -0.02 | +0.78 |
Sortino ratioReturn per unit of downside risk | 1.21 | 0.15 | +1.06 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.02 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 1.22 | -0.05 | +1.26 |
Martin ratioReturn relative to average drawdown | 2.94 | -0.12 | +3.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| UDN | MSFT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | -0.02 | +0.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | 0.37 | -0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.07 | 0.84 | -0.91 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | 0.74 | -0.83 |
Correlation
The correlation between UDN and MSFT is 0.12, 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.
Dividends
UDN vs. MSFT - Dividend Comparison
UDN's dividend yield for the trailing twelve months is around 2.98%, more than MSFT's 0.94% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UDN Invesco DB US Dollar Index Bearish Fund | 2.98% | 2.94% | 5.33% | 5.21% | 0.69% | 0.00% | 0.00% | 1.38% | 1.26% | 0.11% | 0.00% | 0.00% |
MSFT Microsoft Corporation | 0.94% | 0.70% | 0.73% | 0.74% | 1.06% | 0.68% | 0.94% | 1.20% | 1.69% | 1.86% | 2.37% | 2.33% |
Drawdowns
UDN vs. MSFT - Drawdown Comparison
The maximum UDN drawdown since its inception was -41.67%, smaller than the maximum MSFT drawdown of -69.38%. Use the drawdown chart below to compare losses from any high point for UDN and MSFT.
Loading graphics...
Drawdown Indicators
| UDN | MSFT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.67% | -69.38% | +27.71% |
Max Drawdown (1Y)Largest decline over 1 year | -4.54% | -33.91% | +29.37% |
Max Drawdown (5Y)Largest decline over 5 years | -22.75% | -37.15% | +14.40% |
Max Drawdown (10Y)Largest decline over 10 years | -25.72% | -37.15% | +11.43% |
Current DrawdownCurrent decline from peak | -28.22% | -31.43% | +3.21% |
Average DrawdownAverage peak-to-trough decline | -20.55% | -21.77% | +1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 12.46% | -10.58% |
Volatility
UDN vs. MSFT - Volatility Comparison
The current volatility for Invesco DB US Dollar Index Bearish Fund (UDN) is 2.10%, while Microsoft Corporation (MSFT) has a volatility of 6.48%. This indicates that UDN experiences smaller price fluctuations and is considered to be less risky than MSFT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| UDN | MSFT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 6.48% | -4.38% |
Volatility (6M)Calculated over the trailing 6-month period | 4.26% | 19.15% | -14.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.42% | 26.46% | -19.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.43% | 26.19% | -18.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.95% | 26.89% | -19.94% |