USDU vs. TLT
USDU (WisdomTree Bloomberg U.S. Dollar Bullish Fund) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - USDU is a Currency fund actively managed by WisdomTree, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. USDU is actively managed, while TLT is passively managed. Over the past 10 years, USDU returned 2.77%/yr vs -2.33%/yr for TLT. Their -0.16 correlation means they have often moved in opposite directions in the past. USDU charges 0.51%/yr vs 0.15%/yr for TLT.
Performance
USDU vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, USDU achieves a 2.71% return, which is significantly higher than TLT's -3.18% return. Over the past 10 years, USDU has outperformed TLT with an annualized return of 2.77%, while TLT has yielded a comparatively lower -2.33% annualized return.
USDU
- 1D
- 0.04%
- 1M
- -0.82%
- 6M
- 3.48%
- YTD
- 2.71%
- 1Y
- 4.24%
- 3Y*
- 4.91%
- 5Y*
- 5.31%
- 10Y*
- 2.77%
- ALL TIME*
- 3.21%
TLT
- 1D
- 0.33%
- 1M
- -3.49%
- 6M
- -2.86%
- YTD
- -3.18%
- 1Y
- -2.12%
- 3Y*
- -1.15%
- 5Y*
- -8.33%
- 10Y*
- -2.33%
- ALL TIME*
- 3.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.39B | $2.06B | $2.20B | |
| $7.62M | $7.28M | $8.52M |
USDU vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 2.71% | -3.14% | 14.56% | 3.10% | 7.67% | 4.07% | -5.43% | 1.54% | 5.40% | -7.44% |
TLT iShares 20+ Year Treasury Bond ETF | -3.18% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between USDU and TLT is -0.36, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.36 |
Correlation (3Y) Balances recent behavior with more history. | -0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.26 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.19 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 2013 | -0.16 |
The correlation between USDU and TLT shifts across timeframes, from -0.36 (1 year) to -0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
USDU vs. TLT — Risk / Return Rank
USDU
TLT
USDU vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) and iShares 20+ Year Treasury Bond ETF (TLT). 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 | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.01 | ||
| Sortino ratioReturn per unit of downside risk | +1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 0.97 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | -0.28 | +1.44 |
| Martin ratioReturn relative to average drawdown | 3.43 | -0.59 | +4.02 |
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Drawdowns
USDU vs. TLT - Drawdown Comparison
The maximum USDU drawdown since its inception was -14.54%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for USDU and TLT.
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Drawdown Indicators
| USDU | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.54% | -48.35% | +33.81% |
Max Drawdown (1Y)Largest decline over 1 year | -3.64% | -7.74% | +4.10% |
Max Drawdown (3Y)Largest decline over 3 years | -7.73% | -14.79% | +7.06% |
Max Drawdown (5Y)Largest decline over 5 years | -9.28% | -43.70% | +34.42% |
Max Drawdown (10Y)Largest decline over 10 years | -14.54% | -48.35% | +33.81% |
Current DrawdownCurrent decline from peak | -1.47% | -42.17% | +40.70% |
Average DrawdownAverage peak-to-trough decline | -4.67% | -14.00% | +9.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 3.60% | -2.36% |
Volatility
USDU vs. TLT - Volatility Comparison
The current volatility for WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) is 1.33%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.51%. This indicates that USDU experiences smaller price fluctuations and is considered to be less risky than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USDU | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 2.51% | -1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 4.09% | 6.84% | -2.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.47% | 9.24% | -3.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.61% | 15.74% | -9.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.41% | 14.83% | -7.42% |
USDU vs. TLT - Expense Ratio Comparison
USDU has a 0.51% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
USDU vs. TLT - Dividend Comparison
USDU's dividend yield for the trailing twelve months is around 3.73%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 4.75% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 3.73% | 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 TLT have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.51%) compared to USDU (1.33%). In terms of maximum drawdown, USDU dropped -14.54% vs TLT's -48.35%.
On 10-year performance, USDU leads with 2.77% vs -2.33% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, USDU has been the lower-risk option at 1.33%. 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 2.77% return vs -2.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLT is cheaper with a 0.15% expense ratio, compared with 0.51% for USDU.
TLT has the higher dividend yield at 4.75%, compared with 3.73% for USDU.
USDU is categorized as Currency, while TLT is Government Bonds. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.51% for USDU and 0.15% for TLT.
USDU currently has the higher Sharpe Ratio (0.78 vs -0.23), 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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