UUP vs. USDX
Compare and contrast key facts about Invesco DB US Dollar Index Bullish Fund (UUP) and SGI Enhanced Core ETF (USDX).
UUP and USDX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. USDX is an actively managed fund by Summit Global Investments. It was launched on Feb 28, 2024.
Performance
UUP vs. USDX - Performance Comparison
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UUP vs. USDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
UUP Invesco DB US Dollar Index Bullish Fund | 2.59% | -4.99% | 9.46% |
USDX SGI Enhanced Core ETF | 1.28% | 6.25% | 6.87% |
Returns By Period
In the year-to-date period, UUP achieves a 2.59% return, which is significantly higher than USDX's 1.28% return.
UUP
- 1D
- -0.18%
- 1M
- 1.46%
- YTD
- 2.59%
- 6M
- 4.28%
- 1Y
- 0.37%
- 3Y*
- 4.58%
- 5Y*
- 5.16%
- 10Y*
- 3.07%
USDX
- 1D
- 0.14%
- 1M
- 0.84%
- YTD
- 1.28%
- 6M
- 3.10%
- 1Y
- 5.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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UUP vs. USDX - Expense Ratio Comparison
UUP has a 0.75% expense ratio, which is lower than USDX's 0.98% expense ratio.
Return for Risk
UUP vs. USDX — Risk / Return Rank
UUP
USDX
UUP vs. USDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB US Dollar Index Bullish Fund (UUP) and SGI Enhanced Core ETF (USDX). 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.
| UUP | USDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.05 | 3.26 | -3.21 |
Sortino ratioReturn per unit of downside risk | 0.12 | 5.09 | -4.97 |
Omega ratioGain probability vs. loss probability | 1.01 | 1.83 | -0.81 |
Calmar ratioReturn relative to maximum drawdown | 0.08 | 6.24 | -6.16 |
Martin ratioReturn relative to average drawdown | 0.15 | 33.37 | -33.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UUP | USDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.05 | 3.26 | -3.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 4.44 | -4.24 |
Correlation
The correlation between UUP and USDX is 0.10, 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.
Dividends
UUP vs. USDX - Dividend Comparison
UUP's dividend yield for the trailing twelve months is around 3.34%, less than USDX's 5.62% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UUP Invesco DB US Dollar Index Bullish Fund | 3.34% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
USDX SGI Enhanced Core ETF | 5.62% | 5.88% | 4.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
UUP vs. USDX - Drawdown Comparison
The maximum UUP drawdown since its inception was -22.19%, which is greater than USDX's maximum drawdown of -0.94%. Use the drawdown chart below to compare losses from any high point for UUP and USDX.
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Drawdown Indicators
| UUP | USDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.19% | -0.94% | -21.25% |
Max Drawdown (1Y)Largest decline over 1 year | -5.62% | -0.94% | -4.68% |
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 | -3.93% | 0.00% | -3.93% |
Average DrawdownAverage peak-to-trough decline | -8.96% | -0.06% | -8.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 0.18% | +3.02% |
Volatility
UUP vs. USDX - Volatility Comparison
Invesco DB US Dollar Index Bullish Fund (UUP) has a higher volatility of 2.07% compared to SGI Enhanced Core ETF (USDX) at 0.48%. This indicates that UUP's price experiences larger fluctuations and is considered to be riskier than USDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UUP | USDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.07% | 0.48% | +1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 4.17% | 1.39% | +2.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.42% | 1.78% | +5.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.24% | 1.57% | +5.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.99% | 1.57% | +5.42% |