UDN vs. UUP
Compare and contrast key facts about Invesco DB US Dollar Index Bearish Fund (UDN) and Invesco DB US Dollar Index Bullish Fund (UUP).
UDN and UUP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. UUP is a passively managed fund by Invesco that tracks the performance of the Deutsche Bank Long US Dollar Index (USDX) Futures Index. It was launched on Feb 20, 2007. Both UDN and UUP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: UDN or UUP.
Key characteristics
| UDN | UUP | |
|---|---|---|
| YTD Return | -3.04% | 6.05% |
| 1Y Return | -1.24% | 10.46% |
| 3Y Return (Ann) | -4.11% | 8.02% |
| 5Y Return (Ann) | -1.42% | 3.76% |
| 10Y Return (Ann) | -3.32% | 4.12% |
| Sharpe Ratio | -0.10 | 1.54 |
| Daily Std Dev | 6.43% | 6.39% |
| Max Drawdown | -41.67% | -22.19% |
| Current Drawdown | -34.26% | -0.86% |
Correlation
The correlation between UDN and UUP is -0.97. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
UDN vs. UUP - Performance Comparison
In the year-to-date period, UDN achieves a -3.04% return, which is significantly lower than UUP's 6.05% return. Over the past 10 years, UDN has underperformed UUP with an annualized return of -3.32%, while UUP has yielded a comparatively higher 4.12% 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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UDN vs. UUP - Expense Ratio Comparison
UDN has a 0.77% expense ratio, which is higher than UUP's 0.75% expense ratio.
Risk-Adjusted Performance
UDN vs. UUP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB US Dollar Index Bearish Fund (UDN) 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.
Dividends
UDN vs. UUP - Dividend Comparison
UDN's dividend yield for the trailing twelve months is around 5.38%, less than UUP's 6.08% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
UDN Invesco DB US Dollar Index Bearish Fund | 5.38% | 5.21% | 0.69% | 0.00% | 0.00% | 1.38% | 1.26% | 0.11% |
UUP Invesco DB US Dollar Index Bullish Fund | 6.08% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
Drawdowns
UDN vs. UUP - Drawdown Comparison
The maximum UDN drawdown since its inception was -41.67%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for UDN and UUP. For additional features, visit the drawdowns tool.
Volatility
UDN vs. UUP - Volatility Comparison
Invesco DB US Dollar Index Bearish Fund (UDN) has a higher volatility of 2.01% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.89%. This indicates that UDN'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.