UUP vs. GLDB

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco DB US Dollar Index Bullish Fund (UUP) and Strategy Shares Gold-Hedged Bond ETF (GLDB).

UUP and GLDB 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. GLDB is a passively managed fund by Strategy Shares that tracks the performance of the Solactive Gold Backed Bond Index - Benchmark TR Gross. It was launched on May 17, 2021. Both UUP and GLDB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

UUP vs. GLDB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DB US Dollar Index Bullish Fund (UUP) and Strategy Shares Gold-Hedged Bond ETF (GLDB). The values are adjusted to include any dividend payments, if applicable.

UUP vs. GLDB - Yearly Performance Comparison

	2026 (YTD)	2025
UUP Invesco DB US Dollar Index Bullish Fund	2.77%	0.15%
GLDB Strategy Shares Gold-Hedged Bond ETF	-2.60%	-3.51%

Returns By Period

In the year-to-date period, UUP achieves a 2.77% return, which is significantly higher than GLDB's -2.60% 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%

GLDB

• 1D: 3.72%
• 1M: -6.76%
• YTD: -2.60%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

UUP vs. GLDB - Expense Ratio Comparison

UUP has a 0.75% expense ratio, which is lower than GLDB's 0.79% expense ratio.

GLDB

Strategy Shares Gold-Hedged Bond ETF

UUP

Invesco DB US Dollar Index Bullish Fund

Return for Risk

UUP vs. GLDB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UUP

UUP Risk / Return Rank: 14
UUP Sharpe Ratio Rank: 15
UUP Sortino Ratio Rank: 13
UUP Omega Ratio Rank: 13
UUP Calmar Ratio Rank: 15
UUP Martin Ratio Rank: 14

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. GLDB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DB US Dollar Index Bullish Fund (UUP) and Strategy Shares Gold-Hedged Bond ETF (GLDB). 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.

	UUP	GLDB	Difference
Sharpe ratio Return per unit of total volatility	0.09	—	—
Sortino ratio Return per unit of downside risk	0.17	—	—
Omega ratio Gain probability vs. loss probability	1.02	—	—
Calmar ratio Return relative to maximum drawdown	0.13	—	—
Martin ratio Return relative to average drawdown	0.24	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	UUP	GLDB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.09	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	-0.31	+0.50

Correlation

The correlation between UUP and GLDB is -0.34. 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. GLDB - Dividend Comparison

UUP's dividend yield for the trailing twelve months is around 3.34%, more than GLDB's 0.20% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
GLDB Strategy Shares Gold-Hedged Bond ETF	0.20%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

UUP vs. GLDB - Drawdown Comparison

The maximum UUP drawdown since its inception was -22.19%, smaller than the maximum GLDB drawdown of -27.36%. Use the drawdown chart below to compare losses from any high point for UUP and GLDB.

Drawdown Indicators

	UUP	GLDB	Difference
Max Drawdown Largest peak-to-trough decline	-22.19%	-27.36%	+5.17%
Max Drawdown (1Y) Largest decline over 1 year	-6.02%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-10.37%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-14.24%	—	—
Current Drawdown Current decline from peak	-3.76%	-22.48%	+18.72%
Average Drawdown Average peak-to-trough decline	-8.96%	-10.62%	+1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	—	—

Volatility

Volatility by Period

	UUP	GLDB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.17%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.41%	44.68%	-37.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.24%	44.68%	-37.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.99%	44.68%	-37.69%