USDU vs. FXE
USDU (WisdomTree Bloomberg U.S. Dollar Bullish Fund) and FXE (Invesco CurrencyShares® Euro Currency Trust) are both Currency funds. USDU is actively managed, while FXE is passively managed. Over the past 10 years, USDU returned 2.72%/yr vs 0.35%/yr for FXE. At a correlation of -0.78, they often move in opposite directions. USDU charges 0.51%/yr vs 0.40%/yr for FXE.
Performance
USDU vs. FXE - Performance Comparison
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Returns By Period
In the year-to-date period, USDU achieves a 3.29% return, which is significantly higher than FXE's -2.20% return. Over the past 10 years, USDU has outperformed FXE with an annualized return of 2.72%, while FXE has yielded a comparatively lower 0.35% annualized return.
USDU
- 1D
- 0.00%
- 1M
- 0.53%
- 6M
- 2.54%
- YTD
- 3.29%
- 1Y
- 5.47%
- 3Y*
- 5.91%
- 5Y*
- 5.32%
- 10Y*
- 2.72%
FXE
- 1D
- 0.04%
- 1M
- -0.35%
- 6M
- -0.97%
- YTD
- -2.20%
- 1Y
- -0.59%
- 3Y*
- 2.14%
- 5Y*
- 0.17%
- 10Y*
- 0.35%
USDU vs. FXE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 3.29% | -3.14% | 14.56% | 3.10% | 7.67% | 4.07% | -5.43% | 1.54% | 5.40% | -7.44% |
FXE Invesco CurrencyShares® Euro Currency Trust | -2.20% | 14.52% | -4.18% | 4.87% | -6.57% | -7.83% | 7.94% | -2.90% | -5.30% | 13.05% |
Correlation
The correlation between USDU and FXE is -0.87, 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 | -0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.78 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 2013 | -0.78 |
The correlation between USDU and FXE has been stable across timeframes, ranging from -0.87 to -0.78 - a consistent structural relationship.
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Return for Risk
USDU vs. FXE — Risk / Return Rank
USDU
FXE
USDU vs. FXE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) and Invesco CurrencyShares® Euro Currency Trust (FXE). 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.
| USDU | FXE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.08 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.99 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | -0.11 | +1.62 |
| Martin ratioReturn relative to average drawdown | 4.18 | -0.23 | +4.41 |
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Drawdowns
USDU vs. FXE - Drawdown Comparison
The maximum USDU drawdown since its inception was -14.54%, smaller than the maximum FXE drawdown of -43.33%. Use the drawdown chart below to compare losses from any high point for USDU and FXE.
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Drawdown Indicators
| USDU | FXE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.54% | -43.33% | +28.79% |
Max Drawdown (1Y)Largest decline over 1 year | -3.64% | -5.40% | +1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -7.73% | -8.12% | +0.39% |
Max Drawdown (5Y)Largest decline over 5 years | -9.28% | -20.21% | +10.93% |
Max Drawdown (10Y)Largest decline over 10 years | -14.54% | -26.46% | +11.92% |
Current DrawdownCurrent decline from peak | -0.91% | -28.87% | +27.96% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -22.34% | +17.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 2.58% | -1.27% |
Volatility
USDU vs. FXE - Volatility Comparison
The current volatility for WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) is 1.25%, while Invesco CurrencyShares® Euro Currency Trust (FXE) has a volatility of 1.58%. This indicates that USDU experiences smaller price fluctuations and is considered to be less risky than FXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USDU | FXE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.58% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 4.35% | 4.47% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.60% | 6.17% | -0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.60% | 7.65% | -1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.41% | 7.26% | +0.15% |
USDU vs. FXE - Expense Ratio Comparison
USDU has a 0.51% expense ratio, which is higher than FXE's 0.40% expense ratio.
Dividends
USDU vs. FXE - Dividend Comparison
USDU's dividend yield for the trailing twelve months is around 3.71%, more than FXE's 0.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXE Invesco CurrencyShares® Euro Currency Trust | 0.75% | 0.94% | 2.28% | 1.49% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 3.71% | 3.83% | 3.97% | 6.99% | 7.83% | 0.00% | 0.69% | 3.06% | 0.88% | 0.00% | 0.00% | 6.48% |
Frequently Asked Questions
USDU and FXE have a correlation of -0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXE has higher volatility (1.58%) compared to USDU (1.25%). In terms of maximum drawdown, USDU dropped -14.54% vs FXE's -43.33%.
On 10-year performance, USDU leads with 2.72% vs 0.35% for FXE. On fees, FXE is cheaper at 0.40% per year. On volatility, USDU has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USDU has performed better with a 2.72% return vs 0.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXE is cheaper with a 0.40% expense ratio, compared with 0.51% for USDU.
USDU has the higher dividend yield at 3.71%, compared with 0.75% for FXE.
They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.51% for USDU and 0.40% for FXE.
USDU currently has the higher Sharpe Ratio (0.98 vs -0.10), 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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