UUP vs. GLDB
UUP (Invesco DB US Dollar Index Bullish Fund) and GLDB (Strategy Shares Gold-Hedged Bond ETF) are both exchange-traded funds - UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index, while GLDB is a Nontraditional Bonds fund tracking the Solactive Gold Backed Bond Index - Benchmark TR Gross. Both are passively managed. At a correlation of -0.43, they often move in opposite directions. UUP charges 0.75%/yr vs 0.79%/yr for GLDB.
Performance
UUP vs. GLDB - Performance Comparison
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Returns By Period
In the year-to-date period, UUP achieves a 4.92% return, which is significantly higher than GLDB's -15.33% return.
UUP
- 1D
- 0.21%
- 1M
- 2.12%
- YTD
- 4.92%
- 6M
- 4.92%
- 1Y
- 7.04%
- 3Y*
- 4.78%
- 5Y*
- 5.90%
- 10Y*
- 3.20%
GLDB
- 1D
- 0.21%
- 1M
- -13.50%
- YTD
- -15.33%
- 6M
- -16.66%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UUP vs. GLDB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
UUP Invesco DB US Dollar Index Bullish Fund | 4.92% | 0.15% |
GLDB Strategy Shares Gold-Hedged Bond ETF | -15.33% | -3.56% |
Correlation
The correlation between UUP and GLDB is -0.43, 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 (All Time) Calculated using the full available price history since Oct 24, 2025 | -0.43 |
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Return for Risk
UUP vs. GLDB — Risk / Return Rank
UUP
GLDB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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.
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.
| UUP | GLDB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.21 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | — | — |
| Martin ratioReturn relative to average drawdown | 5.26 | — | — |
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Drawdowns
UUP vs. GLDB - Drawdown Comparison
The maximum UUP drawdown since its inception was -22.19%, smaller than the maximum GLDB drawdown of -33.45%. Use the drawdown chart below to compare losses from any high point for UUP and GLDB.
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Drawdown Indicators
| UUP | GLDB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.19% | -33.45% | +11.26% |
Max Drawdown (1Y)Largest decline over 1 year | -3.65% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -10.05% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -10.37% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.24% | — | — |
Current DrawdownCurrent decline from peak | -1.75% | -32.62% | +30.87% |
Average DrawdownAverage peak-to-trough decline | -8.90% | -14.64% | +5.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.36% | — | — |
Volatility
UUP vs. GLDB - Volatility Comparison
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Volatility by Period
| UUP | GLDB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 4.32% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.08% | 40.03% | -33.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.22% | 40.03% | -32.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.96% | 40.03% | -33.07% |
UUP vs. GLDB - Expense Ratio Comparison
UUP has a 0.75% expense ratio, which is lower than GLDB's 0.79% expense ratio.
Dividends
UUP vs. GLDB - Dividend Comparison
UUP's dividend yield for the trailing twelve months is around 3.27%, more than GLDB's 0.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GLDB Strategy Shares Gold-Hedged Bond ETF | 0.23% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.27% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
Frequently Asked Questions
UUP and GLDB have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UUP is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UUP is cheaper with a 0.75% expense ratio, compared with 0.79% for GLDB.
UUP has the higher dividend yield at 3.27%, compared with 0.23% for GLDB.
UUP is categorized as Currency, while GLDB is Nontraditional Bonds. UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index, while GLDB tracks Solactive Gold Backed Bond Index - Benchmark TR Gross. They also come from different issuers: Invesco and Strategy Shares. Their fees differ too: 0.75% for UUP and 0.79% for GLDB.
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