UDN vs. NEE
UDN (Invesco DB US Dollar Index Bearish Fund) is Currency fund tracking the Deutsche Bank Short USD Currency Portfolio Index, while NEE (NextEra Energy, Inc.) is a stock. Over the past 10 years, UDN returned -0.35%/yr vs 13.59%/yr for NEE. At a 0.15 correlation, their price movements are largely independent.
Performance
UDN vs. NEE - Performance Comparison
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Returns By Period
In the year-to-date period, UDN achieves a -2.14% return, which is significantly lower than NEE's 11.65% return. Over the past 10 years, UDN has underperformed NEE with an annualized return of -0.35%, while NEE has yielded a comparatively higher 13.59% annualized return.
UDN
- 1D
- -0.28%
- 1M
- -1.38%
- 6M
- -1.60%
- YTD
- -2.14%
- 1Y
- -1.78%
- 3Y*
- 1.62%
- 5Y*
- -0.53%
- 10Y*
- -0.35%
NEE
- 1D
- 0.48%
- 1M
- 2.78%
- 6M
- 10.50%
- YTD
- 11.65%
- 1Y
- 22.23%
- 3Y*
- 9.67%
- 5Y*
- 5.89%
- 10Y*
- 13.59%
UDN vs. NEE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UDN Invesco DB US Dollar Index Bearish Fund | -2.14% | 12.37% | -4.53% | 4.88% | -7.96% | -7.03% | 6.20% | -0.97% | -5.02% | 9.50% |
NEE NextEra Energy, Inc. | 11.65% | 15.47% | 21.46% | -25.30% | -8.54% | 23.39% | 30.06% | 42.69% | 14.30% | 34.39% |
Correlation
The correlation between UDN and NEE is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2007 | 0.15 |
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Return for Risk
UDN vs. NEE — Risk / Return Rank
UDN
NEE
UDN vs. NEE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB US Dollar Index Bearish Fund (UDN) and NextEra Energy, Inc. (NEE). 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.
| UDN | NEE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.28 | ||
| Sortino ratioReturn per unit of downside risk | -1.85 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.19 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | 1.54 | -1.89 |
| Martin ratioReturn relative to average drawdown | -0.72 | 3.80 | -4.53 |
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Drawdowns
UDN vs. NEE - Drawdown Comparison
The maximum UDN drawdown since its inception was -41.67%, smaller than the maximum NEE drawdown of -47.81%. Use the drawdown chart below to compare losses from any high point for UDN and NEE.
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Drawdown Indicators
| UDN | NEE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.67% | -47.81% | +6.14% |
Max Drawdown (1Y)Largest decline over 1 year | -5.13% | -14.53% | +9.40% |
Max Drawdown (3Y)Largest decline over 3 years | -8.59% | -34.57% | +25.98% |
Max Drawdown (5Y)Largest decline over 5 years | -20.71% | -44.97% | +24.26% |
Max Drawdown (10Y)Largest decline over 10 years | -25.72% | -44.97% | +19.25% |
Current DrawdownCurrent decline from peak | -28.81% | -9.04% | -19.77% |
Average DrawdownAverage peak-to-trough decline | -20.65% | -8.93% | -11.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 5.86% | -3.39% |
Volatility
UDN vs. NEE - Volatility Comparison
The current volatility for Invesco DB US Dollar Index Bearish Fund (UDN) is 1.41%, while NextEra Energy, Inc. (NEE) has a volatility of 4.63%. This indicates that UDN experiences smaller price fluctuations and is considered to be less risky than NEE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UDN | NEE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 4.63% | -3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 16.68% | -12.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.01% | 22.83% | -16.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.40% | 26.93% | -19.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.85% | 25.48% | -18.63% |
Dividends
UDN vs. NEE - Dividend Comparison
UDN's dividend yield for the trailing twelve months is around 3.00%, more than NEE's 2.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NEE NextEra Energy, Inc. | 2.69% | 2.82% | 2.87% | 3.08% | 2.03% | 1.65% | 1.81% | 2.06% | 2.55% | 2.52% | 2.91% | 2.96% |
UDN Invesco DB US Dollar Index Bearish Fund | 3.00% | 2.94% | 5.33% | 5.21% | 0.69% | 0.00% | 0.00% | 1.38% | 1.26% | 0.11% | 0.00% | 0.00% |
Frequently Asked Questions
UDN and NEE have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NEE has higher volatility (4.63%) compared to UDN (1.41%). In terms of maximum drawdown, UDN dropped -41.67% vs NEE's -47.81%.
NEE currently has the higher Sharpe Ratio (0.98 vs -0.30), 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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