VONV vs. UUP
VONV (Vanguard Russell 1000 Value ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - VONV is a Large Cap Value Equities fund tracking the Russell 1000 Value 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, VONV returned 11.36%/yr vs 3.17%/yr for UUP. At a correlation of -0.21, they often move in opposite directions. VONV charges 0.06%/yr vs 0.75%/yr for UUP.
Performance
VONV vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, VONV achieves a 18.61% return, which is significantly higher than UUP's 5.44% return. Over the past 10 years, VONV has outperformed UUP with an annualized return of 11.36%, while UUP has yielded a comparatively lower 3.17% annualized return.
VONV
- 1D
- 0.28%
- 1M
- 2.55%
- 6M
- 14.63%
- YTD
- 18.61%
- 1Y
- 28.33%
- 3Y*
- 18.20%
- 5Y*
- 11.52%
- 10Y*
- 11.36%
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%
VONV vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VONV Vanguard Russell 1000 Value ETF | 18.61% | 15.81% | 14.28% | 11.40% | -7.65% | 25.28% | 2.71% | 26.48% | -8.45% | 13.59% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -6.66% | 4.09% | 7.05% | -9.10% |
Correlation
The correlation between VONV and UUP is -0.31, 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 | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010 | -0.21 |
The correlation between VONV and UUP shifts across timeframes, from -0.32 (5 years) to -0.20 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
VONV vs. UUP — Risk / Return Rank
VONV
UUP
VONV vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 Value ETF (VONV) 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.
| VONV | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.25 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 4.18 | 2.28 | +1.90 |
| Martin ratioReturn relative to average drawdown | 17.38 | 6.26 | +11.12 |
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Drawdowns
VONV vs. UUP - Drawdown Comparison
The maximum VONV drawdown since its inception was -38.21%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for VONV and UUP.
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Drawdown Indicators
| VONV | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.21% | -22.19% | -16.02% |
Max Drawdown (1Y)Largest decline over 1 year | -6.81% | -3.65% | -3.16% |
Max Drawdown (3Y)Largest decline over 3 years | -15.70% | -10.05% | -5.65% |
Max Drawdown (5Y)Largest decline over 5 years | -18.87% | -10.37% | -8.50% |
Max Drawdown (10Y)Largest decline over 10 years | -38.21% | -14.24% | -23.97% |
Current DrawdownCurrent decline from peak | -0.05% | -1.26% | +1.21% |
Average DrawdownAverage peak-to-trough decline | -3.88% | -8.88% | +5.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.33% | +0.30% |
Volatility
VONV vs. UUP - Volatility Comparison
Vanguard Russell 1000 Value ETF (VONV) has a higher volatility of 3.77% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.45%. This indicates that VONV'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
| VONV | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 1.45% | +2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 8.70% | 4.34% | +4.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.38% | 6.03% | +5.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.80% | 7.22% | +7.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.20% | 6.90% | +10.30% |
VONV vs. UUP - Expense Ratio Comparison
VONV has a 0.06% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
VONV vs. UUP - Dividend Comparison
VONV's dividend yield for the trailing twelve months is around 1.58%, less than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
VONV Vanguard Russell 1000 Value ETF | 1.58% | 1.82% | 1.97% | 2.10% | 2.22% | 1.67% | 2.25% | 2.30% | 2.56% | 2.18% | 2.39% | 2.38% |
Frequently Asked Questions
VONV and UUP have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VONV has higher volatility (3.77%) compared to UUP (1.45%). In terms of maximum drawdown, VONV dropped -38.21% vs UUP's -22.19%.
On 10-year performance, VONV leads with 11.36% vs 3.17% for UUP. On fees, VONV is cheaper at 0.06% 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 10-year period, VONV has performed better with a 11.36% return vs 3.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VONV is cheaper with a 0.06% expense ratio, compared with 0.75% for UUP.
UUP has the higher dividend yield at 3.25%, compared with 1.58% for VONV.
VONV is categorized as Large Cap Value Equities, while UUP is Currency. VONV tracks Russell 1000 Value 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: 0.06% for VONV and 0.75% for UUP.
VONV currently has the higher Sharpe Ratio (2.51 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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