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UUP vs. UDN
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between UUP and UDN is 0.20, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.


-0.50.00.51.0
Correlation: 0.2

Performance

UUP vs. UDN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DB US Dollar Index Bullish Fund (UUP) and Invesco DB US Dollar Index Bearish Fund (UDN). The values are adjusted to include any dividend payments, if applicable.

-20.00%-10.00%0.00%10.00%20.00%30.00%40.00%NovemberDecember2025FebruaryMarchApril
28.37%
-13.97%
UUP
UDN

Key characteristics

Sharpe Ratio

UUP:

-0.08

UDN:

1.12

Sortino Ratio

UUP:

-0.05

UDN:

1.85

Omega Ratio

UUP:

0.99

UDN:

1.21

Calmar Ratio

UUP:

-0.06

UDN:

0.23

Martin Ratio

UUP:

-0.20

UDN:

2.18

Ulcer Index

UUP:

2.86%

UDN:

3.86%

Daily Std Dev

UUP:

7.31%

UDN:

7.51%

Max Drawdown

UUP:

-22.19%

UDN:

-41.67%

Current Drawdown

UUP:

-8.24%

UDN:

-28.95%

Returns By Period

In the year-to-date period, UUP achieves a -6.90% return, which is significantly lower than UDN's 9.75% return. Over the past 10 years, UUP has outperformed UDN with an annualized return of 2.39%, while UDN has yielded a comparatively lower -0.54% annualized return.


UUP

YTD

-6.90%

1M

-4.10%

6M

-2.23%

1Y

-0.91%

5Y*

2.55%

10Y*

2.39%

UDN

YTD

9.75%

1M

4.74%

6M

5.64%

1Y

8.80%

5Y*

0.79%

10Y*

-0.54%

*Annualized

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UUP vs. UDN - Expense Ratio Comparison

UUP has a 0.75% expense ratio, which is lower than UDN's 0.77% expense ratio.


Expense ratio chart for UDN: current value is 0.77%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
UDN: 0.77%
Expense ratio chart for UUP: current value is 0.75%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
UUP: 0.75%

Risk-Adjusted Performance

UUP vs. UDN — Risk-Adjusted Performance Rank

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

UUP
The Risk-Adjusted Performance Rank of UUP is 1616
Overall Rank
The Sharpe Ratio Rank of UUP is 1818
Sharpe Ratio Rank
The Sortino Ratio Rank of UUP is 1414
Sortino Ratio Rank
The Omega Ratio Rank of UUP is 1414
Omega Ratio Rank
The Calmar Ratio Rank of UUP is 1717
Calmar Ratio Rank
The Martin Ratio Rank of UUP is 1818
Martin Ratio Rank

UDN
The Risk-Adjusted Performance Rank of UDN is 7171
Overall Rank
The Sharpe Ratio Rank of UDN is 8383
Sharpe Ratio Rank
The Sortino Ratio Rank of UDN is 8787
Sortino Ratio Rank
The Omega Ratio Rank of UDN is 8181
Omega Ratio Rank
The Calmar Ratio Rank of UDN is 4242
Calmar Ratio Rank
The Martin Ratio Rank of UDN is 6464
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

UUP vs. UDN - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DB US Dollar Index Bullish Fund (UUP) and Invesco DB US Dollar Index Bearish Fund (UDN). 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.


The chart of Sharpe ratio for UUP, currently valued at -0.08, compared to the broader market-1.000.001.002.003.004.00
UUP: -0.08
UDN: 1.12
The chart of Sortino ratio for UUP, currently valued at -0.05, compared to the broader market-2.000.002.004.006.008.00
UUP: -0.05
UDN: 1.85
The chart of Omega ratio for UUP, currently valued at 0.99, compared to the broader market0.501.001.502.002.50
UUP: 0.99
UDN: 1.21
The chart of Calmar ratio for UUP, currently valued at -0.06, compared to the broader market0.002.004.006.008.0010.0012.00
UUP: -0.06
UDN: 0.23
The chart of Martin ratio for UUP, currently valued at -0.20, compared to the broader market0.0020.0040.0060.00
UUP: -0.20
UDN: 2.18

The current UUP Sharpe Ratio is -0.08, which is lower than the UDN Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of UUP and UDN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.00-0.500.000.501.001.502.002.50NovemberDecember2025FebruaryMarchApril
-0.08
1.12
UUP
UDN

Dividends

UUP vs. UDN - Dividend Comparison

UUP's dividend yield for the trailing twelve months is around 4.81%, which matches UDN's 4.85% yield.


TTM20242023202220212020201920182017
UUP
Invesco DB US Dollar Index Bullish Fund
4.81%4.48%6.45%0.89%0.00%0.00%2.03%1.08%0.10%
UDN
Invesco DB US Dollar Index Bearish Fund
4.85%5.33%5.21%0.69%0.00%0.00%1.38%1.26%0.11%

Drawdowns

UUP vs. UDN - Drawdown Comparison

The maximum UUP drawdown since its inception was -22.19%, smaller than the maximum UDN drawdown of -41.67%. Use the drawdown chart below to compare losses from any high point for UUP and UDN. For additional features, visit the drawdowns tool.


-40.00%-30.00%-20.00%-10.00%0.00%NovemberDecember2025FebruaryMarchApril
-8.24%
-28.95%
UUP
UDN

Volatility

UUP vs. UDN - Volatility Comparison

Invesco DB US Dollar Index Bullish Fund (UUP) and Invesco DB US Dollar Index Bearish Fund (UDN) have volatilities of 3.67% and 3.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.


1.00%1.50%2.00%2.50%3.00%3.50%NovemberDecember2025FebruaryMarchApril
3.67%
3.65%
UUP
UDN