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UUP vs. CSH2.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

UUP vs. CSH2.L

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco DB US Dollar Index Bullish Fund (UUP) and Lyxor Smart Overnight Return UCITS ETF C-GBP (CSH2.L).

UUP and CSH2.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. CSH2.L is an actively managed fund by Amundi. It was launched on Mar 2, 2015.

Performance

UUP vs. CSH2.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DB US Dollar Index Bullish Fund (UUP) and Lyxor Smart Overnight Return UCITS ETF C-GBP (CSH2.L). The values are adjusted to include any dividend payments, if applicable.

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UUP vs. CSH2.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UUP
Invesco DB US Dollar Index Bullish Fund		2.77%-4.99%13.50%3.63%9.46%5.73%-6.66%4.09%7.05%-9.10%
CSH2.L
Lyxor Smart Overnight Return UCITS ETF C-GBP		-0.69%12.57%3.85%10.24%-9.32%-0.78%3.37%4.86%-5.00%9.98%
Different Trading Currencies

UUP is traded in USD, while CSH2.L is traded in GBp. To make them comparable, the CSH2.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, UUP achieves a 2.77% return, which is significantly higher than CSH2.L's -0.97% return. Over the past 10 years, UUP has outperformed CSH2.L with an annualized return of 3.09%, while CSH2.L has yielded a comparatively lower 1.25% annualized return.

UUP

1D
-0.71%
1M
2.58%
YTD
2.77%
6M
4.43%
1Y
0.66%
3Y*
4.64%
5Y*
5.20%
10Y*
3.09%

CSH2.L

1D
0.00%
1M
-1.77%
YTD
-0.97%
6M
0.25%
1Y
6.74%
3Y*
7.41%
5Y*
2.54%
10Y*
1.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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

Invesco DB US Dollar Index Bullish Fund

Lyxor Smart Overnight Return UCITS ETF C-GBP

Often compared with UUP:
UUP vs. USDUUUP vs. ^DXYUUP vs. UDNUUP vs. GLDUUP vs. SPYUUP vs. USD=XUUP vs. GC=F
Often compared with CSH2.L:
CSH2.L vs. ERNS.LCSH2.L vs. BILSCSH2.L vs. TI5G.LCSH2.L vs. ERNA.LCSH2.L vs. LCSIXCSH2.L vs. MINV.LCSH2.L vs. AAPL

UUP vs. CSH2.L - Expense Ratio Comparison

UUP has a 0.75% expense ratio, which is higher than CSH2.L's 0.07% expense ratio.

UUP
Invesco DB US Dollar Index Bullish Fund
CSH2.L
Lyxor Smart Overnight Return UCITS ETF C-GBP

Return for Risk

UUP vs. CSH2.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UUP
UUP Risk / Return Rank: 1414
Overall Rank
UUP Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
UUP Sortino Ratio Rank: 1313
Sortino Ratio Rank
UUP Omega Ratio Rank: 1313
Omega Ratio Rank
UUP Calmar Ratio Rank: 1515
Calmar Ratio Rank
UUP Martin Ratio Rank: 1414
Martin Ratio Rank
CSH2.L
CSH2.L Risk / Return Rank: 9999
Overall Rank
CSH2.L Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
CSH2.L Sortino Ratio Rank: 9999
Sortino Ratio Rank
CSH2.L Omega Ratio Rank: 9999
Omega Ratio Rank
CSH2.L Calmar Ratio Rank: 9999
Calmar Ratio Rank
CSH2.L Martin Ratio Rank: 9999
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.

UUP vs. CSH2.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DB US Dollar Index Bullish Fund (UUP) and Lyxor Smart Overnight Return UCITS ETF C-GBP (CSH2.L). 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.

UUPCSH2.LDifference

Sharpe ratio

Return per unit of total volatility

0.09

0.91

-0.82

Sortino ratio

Return per unit of downside risk

0.17

1.35

-1.18

Omega ratio

Gain probability vs. loss probability

1.02

1.16

-0.14

Calmar ratio

Return relative to maximum drawdown

0.13

1.65

-1.52

Martin ratio

Return relative to average drawdown

0.24

3.74

-3.50

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

UUP vs. CSH2.L - Sharpe Ratio Comparison

The current UUP Sharpe Ratio is 0.09, which is lower than the CSH2.L Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of UUP and CSH2.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

UUPCSH2.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.09

0.91

-0.82

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.72

0.30

+0.42

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.44

0.13

+0.31

Sharpe Ratio (All Time)

Calculated using the full available price history

0.20

0.04

+0.16

Correlation

The correlation between UUP and CSH2.L is -0.71. 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.

Dividends

UUP vs. CSH2.L - Dividend Comparison

UUP's dividend yield for the trailing twelve months is around 3.34%, while CSH2.L has not paid dividends to shareholders.

TTM202520242023202220212020201920182017
UUP
Invesco DB US Dollar Index Bullish Fund		3.34%3.43%4.48%6.44%0.89%0.00%0.00%2.03%1.08%0.10%
CSH2.L
Lyxor Smart Overnight Return UCITS ETF C-GBP		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

UUP vs. CSH2.L - Drawdown Comparison

The maximum UUP drawdown since its inception was -22.19%, smaller than the maximum CSH2.L drawdown of -29.83%. Use the drawdown chart below to compare losses from any high point for UUP and CSH2.L.

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Drawdown Indicators

UUPCSH2.LDifference

Max Drawdown

Largest peak-to-trough decline

-22.19%

-0.37%

-21.82%

Max Drawdown (1Y)

Largest decline over 1 year

-6.02%

-0.16%

-5.86%

Max Drawdown (5Y)

Largest decline over 5 years

-10.37%

-0.29%

-10.08%

Max Drawdown (10Y)

Largest decline over 10 years

-14.24%

-0.37%

-13.87%

Current Drawdown

Current decline from peak

-3.76%

0.00%

-3.76%

Average Drawdown

Average peak-to-trough decline

-8.96%

0.00%

-8.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.20%

0.03%

+3.17%

Volatility

UUP vs. CSH2.L - Volatility Comparison

The current volatility for Invesco DB US Dollar Index Bullish Fund (UUP) is 2.10%, while Lyxor Smart Overnight Return UCITS ETF C-GBP (CSH2.L) has a volatility of 2.51%. This indicates that UUP experiences smaller price fluctuations and is considered to be less risky than CSH2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UUPCSH2.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.10%

2.51%

-0.41%

Volatility (6M)

Calculated over the trailing 6-month period

4.17%

4.79%

-0.62%

Volatility (1Y)

Calculated over the trailing 1-year period

7.41%

7.41%

0.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.24%

8.56%

-1.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.99%

9.38%

-2.39%