UUP vs. USDU
UUP (Invesco DB US Dollar Index Bullish Fund) and USDU (WisdomTree Bloomberg U.S. Dollar Bullish Fund) are both Currency funds. UUP is passively managed, while USDU is actively managed. Over the past 10 years, UUP returned 3.23%/yr vs 2.85%/yr for USDU. Their correlation of 0.84 suggests significant overlap in exposure. UUP charges 0.75%/yr vs 0.51%/yr for USDU.
Performance
UUP vs. USDU - Performance Comparison
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Returns By Period
In the year-to-date period, UUP achieves a 5.25% return, which is significantly higher than USDU's 3.64% return. Over the past 10 years, UUP has outperformed USDU with an annualized return of 3.23%, while USDU has yielded a comparatively lower 2.85% annualized return.
UUP
- 1D
- 0.32%
- 1M
- 2.45%
- YTD
- 5.25%
- 6M
- 5.61%
- 1Y
- 7.81%
- 3Y*
- 4.89%
- 5Y*
- 5.98%
- 10Y*
- 3.23%
USDU
- 1D
- 0.26%
- 1M
- 2.02%
- YTD
- 3.64%
- 6M
- 3.96%
- 1Y
- 6.23%
- 3Y*
- 5.32%
- 5Y*
- 5.59%
- 10Y*
- 2.85%
UUP vs. USDU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UUP Invesco DB US Dollar Index Bullish Fund | 5.25% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -6.66% | 4.09% | 7.05% | -9.10% |
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 3.64% | -3.14% | 14.56% | 3.10% | 7.67% | 4.07% | -5.43% | 1.54% | 5.40% | -7.44% |
Correlation
The correlation between UUP and USDU is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 2013 | 0.84 |
The correlation between UUP and USDU has been stable across timeframes, ranging from 0.83 to 0.89 - a consistent structural relationship.
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Return for Risk
UUP vs. USDU — Risk / Return Rank
UUP
USDU
UUP vs. USDU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB US Dollar Index Bullish Fund (UUP) and WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU). 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 | USDU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.20 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | 1.72 | +0.44 |
| Martin ratioReturn relative to average drawdown | 5.90 | 4.76 | +1.14 |
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Drawdowns
UUP vs. USDU - Drawdown Comparison
The maximum UUP drawdown since its inception was -22.19%, which is greater than USDU's maximum drawdown of -14.54%. Use the drawdown chart below to compare losses from any high point for UUP and USDU.
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Drawdown Indicators
| UUP | USDU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.19% | -14.54% | -7.65% |
Max Drawdown (1Y)Largest decline over 1 year | -3.65% | -3.64% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -10.05% | -7.73% | -2.32% |
Max Drawdown (5Y)Largest decline over 5 years | -10.37% | -9.28% | -1.09% |
Max Drawdown (10Y)Largest decline over 10 years | -14.24% | -14.54% | +0.30% |
Current DrawdownCurrent decline from peak | -1.44% | -0.58% | -0.86% |
Average DrawdownAverage peak-to-trough decline | -8.90% | -4.71% | -4.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 1.32% | +0.02% |
Volatility
UUP vs. USDU - Volatility Comparison
Invesco DB US Dollar Index Bullish Fund (UUP) and WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) have volatilities of 1.35% and 1.41%, 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.
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Volatility by Period
| UUP | USDU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 1.41% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 4.33% | 4.36% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.07% | 5.67% | +0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.22% | 6.61% | +0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.91% | 7.43% | -0.52% |
UUP vs. USDU - Expense Ratio Comparison
UUP has a 0.75% expense ratio, which is higher than USDU's 0.51% expense ratio.
Dividends
UUP vs. USDU - Dividend Comparison
UUP's dividend yield for the trailing twelve months is around 3.26%, less than USDU's 3.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 3.70% | 3.83% | 3.97% | 6.99% | 7.83% | 0.00% | 0.69% | 3.06% | 0.88% | 0.00% | 0.00% | 6.48% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
UUP and USDU have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USDU has higher volatility (1.41%) compared to UUP (1.35%). In terms of maximum drawdown, UUP dropped -22.19% vs USDU's -14.54%.
On 10-year performance, UUP leads with 3.23% vs 2.85% for USDU. On fees, USDU is cheaper at 0.51% per year. Their volatility is very similar. 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 3.23% return vs 2.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USDU is cheaper with a 0.51% expense ratio, compared with 0.75% for UUP.
USDU has the higher dividend yield at 3.70%, compared with 3.26% for UUP.
They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.75% for UUP and 0.51% for USDU.
UUP currently has the higher Sharpe Ratio (1.30 vs 1.10), 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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