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USDU vs. SPHQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

USDU vs. SPHQ

Last updated Jun 9, 2026

USDU (WisdomTree Bloomberg U.S. Dollar Bullish Fund) and SPHQ (Invesco S&P 500 Quality ETF) are both exchange-traded funds - USDU is a Currency fund actively managed by WisdomTree, while SPHQ is a S&P 500 fund tracking the S&P 500 Quality Index. USDU is actively managed, while SPHQ is passively managed. Over the past 10 years, USDU returned 2.77%/yr vs 14.91%/yr for SPHQ. At a correlation of -0.20, they often move in opposite directions. USDU charges 0.51%/yr vs 0.15%/yr for SPHQ.

Performance

USDU vs. SPHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) and Invesco S&P 500 Quality ETF (SPHQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, USDU achieves a 2.56% return, which is significantly lower than SPHQ's 14.28% return. Over the past 10 years, USDU has underperformed SPHQ with an annualized return of 2.77%, while SPHQ has yielded a comparatively higher 14.91% annualized return.

USDU

1D
-0.08%
1M
2.52%
YTD
2.56%
6M
2.09%
1Y
5.00%
3Y*
4.92%
5Y*
5.68%
10Y*
2.77%

SPHQ

1D
0.58%
1M
3.64%
YTD
14.28%
6M
15.48%
1Y
21.15%
3Y*
22.07%
5Y*
14.25%
10Y*
14.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

USDU vs. SPHQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USDU
WisdomTree Bloomberg U.S. Dollar Bullish Fund		2.56%-3.14%14.56%3.10%7.67%4.07%-5.43%1.54%5.40%-7.44%
SPHQ
Invesco S&P 500 Quality ETF		14.28%13.25%25.44%24.83%-15.76%28.03%17.36%33.64%-7.10%19.10%

Correlation

The correlation between USDU and SPHQ is -0.39, 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

-0.39

Correlation (3Y)
Calculated over the trailing 3-year period

-0.28

Correlation (5Y)
Calculated over the trailing 5-year period

-0.33

Correlation (10Y)
Calculated over the trailing 10-year period

-0.24

Correlation (All Time)
Calculated using the full available price history since Dec 18, 2013

-0.20

The correlation between USDU and SPHQ shifts across timeframes, from -0.39 (1 year) to -0.20 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

WisdomTree Bloomberg U.S. Dollar Bullish Fund

Invesco S&P 500 Quality ETF

Often compared with USDU:
USDU vs. UUPUSDU vs. FTGCUSDU vs. FLLAUSDU vs. ^DXYUSDU vs. EURUSD=XUSDU vs. VOOUSDU vs. GOLD
Often compared with SPHQ:
SPHQ vs. QUALSPHQ vs. VOOSPHQ vs. SPYSPHQ vs. JQUASPHQ vs. SCHDSPHQ vs. SPYVSPHQ vs. QQQ

Return for Risk

USDU vs. SPHQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USDU
USDU Risk / Return Rank: 2828
Overall Rank
USDU Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
USDU Sortino Ratio Rank: 2727
Sortino Ratio Rank
USDU Omega Ratio Rank: 2626
Omega Ratio Rank
USDU Calmar Ratio Rank: 3131
Calmar Ratio Rank
USDU Martin Ratio Rank: 2828
Martin Ratio Rank
SPHQ
SPHQ Risk / Return Rank: 5555
Overall Rank
SPHQ Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
SPHQ Sortino Ratio Rank: 5555
Sortino Ratio Rank
SPHQ Omega Ratio Rank: 5151
Omega Ratio Rank
SPHQ Calmar Ratio Rank: 5353
Calmar Ratio Rank
SPHQ Martin Ratio Rank: 6262
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

USDU vs. SPHQ - 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 S&P 500 Quality ETF (SPHQ). 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.

USDUSPHQDifference
Sharpe ratioReturn per unit of total volatility
0.89
1.66

-0.77

Sortino ratioReturn per unit of downside risk
1.33
2.39

-1.07

Omega ratioGain probability vs. loss probability

1.16

1.28

-0.12

Calmar ratioReturn relative to maximum drawdown

1.38

2.39

-1.01

Martin ratioReturn relative to average drawdown

3.74

10.19

-6.45

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USDU vs. SPHQ - Sharpe Ratio Comparison

The current USDU Sharpe Ratio is 0.89, which is lower than the SPHQ Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of USDU and SPHQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

USDUSPHQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.89

1.66

-0.77

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.86

0.87

-0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.37

0.84

-0.46

Sharpe Ratio (All Time)

Calculated using the full available price history

0.44

0.53

-0.08

Drawdowns

USDU vs. SPHQ - Drawdown Comparison

The maximum USDU drawdown since its inception was -14.54%, smaller than the maximum SPHQ drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for USDU and SPHQ.

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Drawdown Indicators

USDUSPHQDifference

Max Drawdown

Largest peak-to-trough decline

-14.54%

-57.83%

+43.29%

Max Drawdown (1Y)

Largest decline over 1 year

-3.64%

-8.90%

+5.26%

Max Drawdown (3Y)

Largest decline over 3 years

-7.73%

-16.57%

+8.84%

Max Drawdown (5Y)

Largest decline over 5 years

-9.28%

-25.04%

+15.76%

Max Drawdown (10Y)

Largest decline over 10 years

-14.54%

-31.60%

+17.06%

Current Drawdown

Current decline from peak

-1.62%

-1.62%

0.00%

Average Drawdown

Average peak-to-trough decline

-4.72%

-10.70%

+5.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.34%

2.09%

-0.75%

Volatility

USDU vs. SPHQ - Volatility Comparison

The current volatility for WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) is 1.28%, while Invesco S&P 500 Quality ETF (SPHQ) has a volatility of 3.90%. This indicates that USDU experiences smaller price fluctuations and is considered to be less risky than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USDUSPHQDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.28%

3.90%

-2.62%

Volatility (6M)

Calculated over the trailing 6-month period

4.36%

10.45%

-6.09%

Volatility (1Y)

Calculated over the trailing 1-year period

5.67%

12.83%

-7.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.63%

16.48%

-9.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.46%

17.88%

-10.42%

USDU vs. SPHQ - Expense Ratio Comparison

USDU has a 0.51% expense ratio, which is higher than SPHQ's 0.15% expense ratio.

Dividends

USDU vs. SPHQ - Dividend Comparison

USDU's dividend yield for the trailing twelve months is around 3.74%, more than SPHQ's 1.05% yield.

PositionTTM20252024202320222021202020192018201720162015
SPHQ
Invesco S&P 500 Quality ETF		1.05%1.09%1.15%1.42%1.85%1.19%1.55%1.51%1.85%1.57%1.67%2.29%
USDU
WisdomTree Bloomberg U.S. Dollar Bullish Fund		3.74%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 SPHQ have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPHQ has higher volatility (3.90%) compared to USDU (1.28%). In terms of maximum drawdown, USDU dropped -14.54% vs SPHQ's -57.83%.

On 10-year performance, SPHQ leads with 14.91% vs 2.77% for USDU. On fees, SPHQ is cheaper at 0.15% per year. On volatility, USDU has been the lower-risk option at 1.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPHQ has performed better with a 14.91% return vs 2.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPHQ is cheaper with a 0.15% expense ratio, compared with 0.51% for USDU.

USDU has the higher dividend yield at 3.74%, compared with 1.05% for SPHQ.

USDU is categorized as Currency, while SPHQ is S&P 500. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.51% for USDU and 0.15% for SPHQ.

SPHQ currently has the higher Sharpe Ratio (1.66 vs 0.89), 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.

Portfolio Optimizer

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