VCIT vs. UUP
VCIT (Vanguard Intermediate-Term Corporate Bond ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - VCIT is a Corporate Bonds fund tracking the Bloomberg U.S. 5-10 Year Corporate Bond Index, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. Both are passively managed. Over the past 10 years, VCIT returned 2.85%/yr vs 3.19%/yr for UUP. At a correlation of -0.24, they often move in opposite directions. VCIT charges 0.03%/yr vs 0.75%/yr for UUP.
Performance
VCIT vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, VCIT achieves a -0.26% return, which is significantly lower than UUP's 3.70% return. Over the past 10 years, VCIT has underperformed UUP with an annualized return of 2.85%, while UUP has yielded a comparatively higher 3.19% annualized return.
VCIT
- 1D
- -0.01%
- 1M
- -0.79%
- YTD
- -0.26%
- 6M
- 0.06%
- 1Y
- 5.98%
- 3Y*
- 6.04%
- 5Y*
- 1.04%
- 10Y*
- 2.85%
UUP
- 1D
- 0.04%
- 1M
- 2.52%
- YTD
- 3.70%
- 6M
- 3.08%
- 1Y
- 5.64%
- 3Y*
- 4.21%
- 5Y*
- 6.04%
- 10Y*
- 3.19%
VCIT vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCIT Vanguard Intermediate-Term Corporate Bond ETF | -0.26% | 9.34% | 3.20% | 8.98% | -13.98% | -1.77% | 9.46% | 14.10% | -1.74% | 5.31% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.70% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -6.66% | 4.09% | 7.05% | -9.10% |
Correlation
The correlation between VCIT and UUP is -0.52, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.34 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | -0.24 |
Over the past year, the inverse relationship between VCIT and UUP has strengthened: their correlation has moved from -0.24 to -0.52, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
VCIT vs. UUP — Risk / Return Rank
VCIT
UUP
VCIT vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Corporate Bond ETF (VCIT) and Invesco DB US Dollar Index Bullish Fund (UUP). 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.
| VCIT | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.16 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 1.55 | +0.48 |
| Martin ratioReturn relative to average drawdown | 6.67 | 4.13 | +2.54 |
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
| VCIT | UUP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 0.93 | +0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.84 | -0.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | 0.46 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.20 | +0.55 |
Drawdowns
VCIT vs. UUP - Drawdown Comparison
The maximum VCIT drawdown since its inception was -20.56%, smaller than the maximum UUP drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for VCIT and UUP.
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Drawdown Indicators
| VCIT | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.56% | -22.19% | +1.63% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -3.65% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -10.05% | +3.94% |
Max Drawdown (5Y)Largest decline over 5 years | -20.56% | -10.37% | -10.19% |
Max Drawdown (10Y)Largest decline over 10 years | -20.56% | -14.24% | -6.32% |
Current DrawdownCurrent decline from peak | -1.79% | -2.89% | +1.10% |
Average DrawdownAverage peak-to-trough decline | -3.16% | -8.91% | +5.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 1.37% | -0.47% |
Volatility
VCIT vs. UUP - Volatility Comparison
Vanguard Intermediate-Term Corporate Bond ETF (VCIT) has a higher volatility of 1.39% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.23%. This indicates that VCIT's price experiences larger fluctuations and is considered to be riskier than UUP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCIT | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 1.23% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 3.10% | 4.25% | -1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.07% | 6.09% | -2.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.61% | 7.22% | -0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.28% | 6.96% | -0.68% |
VCIT vs. UUP - Expense Ratio Comparison
VCIT has a 0.03% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
VCIT vs. UUP - Dividend Comparison
VCIT's dividend yield for the trailing twelve months is around 4.82%, more than UUP's 3.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UUP Invesco DB US Dollar Index Bullish Fund | 3.31% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% | 0.00% | 0.00% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 4.82% | 4.62% | 4.43% | 3.72% | 3.03% | 2.87% | 2.78% | 3.37% | 3.61% | 3.21% | 3.29% | 3.34% |
Frequently Asked Questions
VCIT and UUP have a correlation of -0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VCIT has higher volatility (1.39%) compared to UUP (1.23%). In terms of maximum drawdown, VCIT dropped -20.56% vs UUP's -22.19%.
On 10-year performance, UUP leads with 3.19% vs 2.85% for VCIT. On fees, VCIT is cheaper at 0.03% per year. On volatility, UUP has been the lower-risk option at 1.23%. 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 3.19% return vs 2.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCIT is cheaper with a 0.03% expense ratio, compared with 0.75% for UUP.
VCIT has the higher dividend yield at 4.82%, compared with 3.31% for UUP.
VCIT is categorized as Corporate Bonds, while UUP is Currency. VCIT tracks Bloomberg U.S. 5-10 Year Corporate Bond Index, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.03% for VCIT and 0.75% for UUP.
VCIT currently has the higher Sharpe Ratio (1.48 vs 0.93), 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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