UUP vs. TTT
UUP (Invesco DB US Dollar Index Bullish Fund) and TTT (UltraPro Short 20+ Year Treasury) are both exchange-traded funds - UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index, while TTT is a Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (-300%). Both are passively managed. Over the past 10 years, UUP returned 3.13%/yr vs 0.84%/yr for TTT. At a 0.16 correlation, their price movements are largely independent. UUP charges 0.75%/yr vs 0.95%/yr for TTT.
Performance
UUP vs. TTT - Performance Comparison
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Returns By Period
In the year-to-date period, UUP achieves a 5.03% return, which is significantly lower than TTT's 6.45% return. Over the past 10 years, UUP has outperformed TTT with an annualized return of 3.13%, while TTT has yielded a comparatively lower 0.84% annualized return.
UUP
- 1D
- 0.11%
- 1M
- 1.57%
- 6M
- 3.88%
- YTD
- 5.03%
- 1Y
- 7.86%
- 3Y*
- 5.13%
- 5Y*
- 5.86%
- 10Y*
- 3.13%
TTT
- 1D
- 0.25%
- 1M
- 3.92%
- 6M
- 8.96%
- YTD
- 6.45%
- 1Y
- -1.25%
- 3Y*
- 8.38%
- 5Y*
- 21.69%
- 10Y*
- 0.84%
UUP vs. TTT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UUP Invesco DB US Dollar Index Bullish Fund | 5.03% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -6.66% | 4.09% | 7.05% | -9.10% |
TTT UltraPro Short 20+ Year Treasury | 6.45% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
Correlation
The correlation between UUP and TTT is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2012 | 0.16 |
The correlation between UUP and TTT shifts across timeframes, from 0.16 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UUP vs. TTT — Risk / Return Rank
UUP
TTT
UUP vs. TTT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB US Dollar Index Bullish Fund (UUP) and UltraPro Short 20+ Year Treasury (TTT). 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 | TTT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.04 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 0.14 | +2.11 |
| Martin ratioReturn relative to average drawdown | 6.19 | 0.26 | +5.93 |
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Drawdowns
UUP vs. TTT - Drawdown Comparison
The maximum UUP drawdown since its inception was -22.19%, smaller than the maximum TTT drawdown of -94.00%. Use the drawdown chart below to compare losses from any high point for UUP and TTT.
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Drawdown Indicators
| UUP | TTT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.19% | -94.00% | +71.81% |
Max Drawdown (1Y)Largest decline over 1 year | -3.65% | -22.18% | +18.53% |
Max Drawdown (3Y)Largest decline over 3 years | -10.05% | -49.69% | +39.64% |
Max Drawdown (5Y)Largest decline over 5 years | -10.37% | -49.69% | +39.32% |
Max Drawdown (10Y)Largest decline over 10 years | -14.24% | -81.76% | +67.52% |
Current DrawdownCurrent decline from peak | -1.64% | -77.68% | +76.04% |
Average DrawdownAverage peak-to-trough decline | -8.88% | -70.40% | +61.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 12.12% | -10.79% |
Volatility
UUP vs. TTT - Volatility Comparison
The current volatility for Invesco DB US Dollar Index Bullish Fund (UUP) is 1.42%, while UltraPro Short 20+ Year Treasury (TTT) has a volatility of 8.45%. This indicates that UUP experiences smaller price fluctuations and is considered to be less risky than TTT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UUP | TTT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 8.45% | -7.03% |
Volatility (6M)Calculated over the trailing 6-month period | 4.33% | 20.35% | -16.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.01% | 28.24% | -22.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.22% | 46.95% | -39.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.90% | 43.22% | -36.32% |
UUP vs. TTT - Expense Ratio Comparison
UUP has a 0.75% expense ratio, which is lower than TTT's 0.95% expense ratio.
Dividends
UUP vs. TTT - Dividend Comparison
UUP's dividend yield for the trailing twelve months is around 3.26%, less than TTT's 9.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
TTT UltraPro Short 20+ Year Treasury | 9.11% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% | 0.00% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.26% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
Frequently Asked Questions
UUP and TTT have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TTT has higher volatility (8.45%) compared to UUP (1.42%). In terms of maximum drawdown, UUP dropped -22.19% vs TTT's -94.00%.
On 10-year performance, UUP leads with 3.13% vs 0.84% for TTT. On fees, UUP is cheaper at 0.75% per year. On volatility, UUP has been the lower-risk option at 1.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UUP has performed better with a 3.13% return vs 0.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UUP is cheaper with a 0.75% expense ratio, compared with 0.95% for TTT.
TTT has the higher dividend yield at 9.11%, compared with 3.26% for UUP.
UUP is categorized as Currency, while TTT is Leveraged Bonds. UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index, while TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.75% for UUP and 0.95% for TTT.
UUP currently has the higher Sharpe Ratio (1.37 vs 0.11), 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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