VFVA vs. UUP
VFVA (Vanguard U.S. Value Factor ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - VFVA is a Mid Cap Value Equities fund actively managed by Vanguard, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. VFVA is actively managed, while UUP is passively managed. Over the past 5 years, VFVA returned 11.95%/yr vs 5.89%/yr for UUP. At a correlation of -0.22, they often move in opposite directions. VFVA charges 0.13%/yr vs 0.75%/yr for UUP.
Performance
VFVA vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, VFVA achieves a 16.13% return, which is significantly higher than UUP's 5.44% return.
VFVA
- 1D
- 0.74%
- 1M
- 2.85%
- 6M
- 12.23%
- YTD
- 16.13%
- 1Y
- 27.35%
- 3Y*
- 17.24%
- 5Y*
- 11.95%
- 10Y*
- —
UUP
- 1D
- 0.39%
- 1M
- 1.97%
- 6M
- 4.47%
- YTD
- 5.44%
- 1Y
- 8.28%
- 3Y*
- 5.86%
- 5Y*
- 5.89%
- 10Y*
- 3.17%
VFVA vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VFVA Vanguard U.S. Value Factor ETF | 16.13% | 14.77% | 7.67% | 17.37% | -3.96% | 36.94% | 2.28% | 25.42% | -18.90% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -6.66% | 4.09% | 10.73% |
Correlation
The correlation between VFVA and UUP is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.30 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2018 | -0.22 |
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Return for Risk
VFVA vs. UUP — Risk / Return Rank
VFVA
UUP
VFVA vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard U.S. Value Factor ETF (VFVA) 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.
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.
| VFVA | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.25 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 2.28 | +0.94 |
| Martin ratioReturn relative to average drawdown | 10.27 | 6.26 | +4.01 |
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Drawdowns
VFVA vs. UUP - Drawdown Comparison
The maximum VFVA drawdown since its inception was -48.58%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for VFVA and UUP.
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Drawdown Indicators
| VFVA | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.58% | -22.19% | -26.39% |
Max Drawdown (1Y)Largest decline over 1 year | -8.55% | -3.65% | -4.90% |
Max Drawdown (3Y)Largest decline over 3 years | -24.07% | -10.05% | -14.02% |
Max Drawdown (5Y)Largest decline over 5 years | -24.07% | -10.37% | -13.70% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.24% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.26% | +1.26% |
Average DrawdownAverage peak-to-trough decline | -7.28% | -8.88% | +1.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 1.33% | +1.34% |
Volatility
VFVA vs. UUP - Volatility Comparison
Vanguard U.S. Value Factor ETF (VFVA) has a higher volatility of 4.10% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.45%. This indicates that VFVA'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
| VFVA | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.10% | 1.45% | +2.65% |
Volatility (6M)Calculated over the trailing 6-month period | 10.01% | 4.34% | +5.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.07% | 6.03% | +9.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.09% | 7.22% | +12.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.25% | 6.90% | +17.35% |
VFVA vs. UUP - Expense Ratio Comparison
VFVA has a 0.13% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
VFVA vs. UUP - Dividend Comparison
VFVA's dividend yield for the trailing twelve months is around 1.82%, less than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
UUP Invesco DB US Dollar Index Bullish Fund | 3.25% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
VFVA Vanguard U.S. Value Factor ETF | 1.82% | 2.13% | 2.40% | 2.45% | 2.21% | 1.68% | 2.04% | 2.08% | 1.65% | 0.00% |
Frequently Asked Questions
VFVA and UUP have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VFVA has higher volatility (4.10%) compared to UUP (1.45%). In terms of maximum drawdown, VFVA dropped -48.58% vs UUP's -22.19%.
On 5-year performance, VFVA leads with 11.95% vs 5.89% for UUP. On fees, VFVA is cheaper at 0.13% per year. On volatility, UUP has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VFVA has performed better with a 11.95% return vs 5.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VFVA is cheaper with a 0.13% expense ratio, compared with 0.75% for UUP.
UUP has the higher dividend yield at 3.25%, compared with 1.82% for VFVA.
VFVA is categorized as Mid Cap Value Equities, while UUP is Currency. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.13% for VFVA and 0.75% for UUP.
VFVA currently has the higher Sharpe Ratio (1.83 vs 1.38), 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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