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UUP vs. USD=X
Performance
Risk-Adjusted Performance
Drawdowns
Volatility

UUP vs. USD=X

Last updated May 11, 2025

Compare and contrast key facts about Invesco DB US Dollar Index Bullish Fund (UUP) and USD Cash (USD=X).

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.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: UUP or USD=X.

Correlation

The correlation between UUP and USD=X is 0.00. 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.

Performance

UUP vs. USD=X - Performance Comparison

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

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Key characteristics

Ulcer Index

UUP:

3.25%

USD=X:

0.00%

Daily Std Dev

UUP:

7.39%

USD=X:

0.00%

Max Drawdown

UUP:

-22.19%

USD=X:

0.00%

Current Drawdown

UUP:

-7.34%

USD=X:

0.00%

Returns By Period

UUP

YTD

-5.98%

1M

-0.14%

6M

-2.07%

1Y

0.59%

5Y*

2.73%

10Y*

2.67%

USD=X

YTD

0.00%

1M

0.00%

6M

0.00%

1Y

0.00%

5Y*

0.00%

10Y*

0.00%

*Annualized

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Risk-Adjusted Performance

UUP vs. USD=X — 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 2121
Overall Rank
The Sharpe Ratio Rank of UUP is 2525
Sharpe Ratio Rank
The Sortino Ratio Rank of UUP is 1919
Sortino Ratio Rank
The Omega Ratio Rank of UUP is 1919
Omega Ratio Rank
The Calmar Ratio Rank of UUP is 2323
Calmar Ratio Rank
The Martin Ratio Rank of UUP is 2222
Martin Ratio Rank
USD=X
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. USD=X - Risk-Adjusted Performance Comparison

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

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Drawdowns

UUP vs. USD=X - Drawdown Comparison

The maximum UUP drawdown since its inception was -22.19%, which is greater than USD=X's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for UUP and USD=X. For additional features, visit the drawdowns tool.

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Volatility

UUP vs. USD=X - Volatility Comparison

Invesco DB US Dollar Index Bullish Fund (UUP) has a higher volatility of 3.43% compared to USD Cash (USD=X) at 0.00%. This indicates that UUP's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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