XTLT.TO vs. UUP
XTLT.TO (iShares 20+ Year U.S. Treasury Bond Index ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - XTLT.TO is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year 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 3 years, XTLT.TO returned -1.68%/yr vs 5.10%/yr for UUP. At a correlation of -0.00, they often move in opposite directions. XTLT.TO charges 0.18%/yr vs 0.75%/yr for UUP.
Performance
XTLT.TO vs. UUP - Performance Comparison
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Different Trading Currencies
XTLT.TO is traded in CAD, while UUP is traded in USD. To make them comparable, the UUP values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XTLT.TO achieves a 0.91% return, which is significantly lower than UUP's 4.38% return.
XTLT.TO
- 1D
- 0.00%
- 1M
- 2.85%
- YTD
- 0.91%
- 6M
- -2.99%
- 1Y
- 5.60%
- 3Y*
- -1.68%
- 5Y*
- —
- 10Y*
- —
UUP
- 1D
- 0.77%
- 1M
- 3.41%
- YTD
- 4.38%
- 6M
- 2.32%
- 1Y
- 6.35%
- 3Y*
- 5.10%
- 5Y*
- 8.95%
- 10Y*
- 3.95%
XTLT.TO vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XTLT.TO iShares 20+ Year U.S. Treasury Bond Index ETF | 0.91% | -1.07% | -1.47% | -2.80% |
UUP Invesco DB US Dollar Index Bullish Fund | 4.38% | -9.34% | 23.25% | 2.60% |
Correlation
The correlation between XTLT.TO and UUP is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2023 | -0.00 |
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Return for Risk
XTLT.TO vs. UUP — Risk / Return Rank
XTLT.TO
UUP
XTLT.TO vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year U.S. Treasury Bond Index ETF (XTLT.TO) 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.
| XTLT.TO | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.12 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.58 | 0.86 | -0.29 |
| Martin ratioReturn relative to average drawdown | 1.26 | 2.31 | -1.05 |
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
| XTLT.TO | UUP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.55 | 0.65 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.73 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.33 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | 0.23 | -0.32 |
Drawdowns
XTLT.TO vs. UUP - Drawdown Comparison
The maximum XTLT.TO drawdown since its inception was -21.04%, smaller than the maximum UUP drawdown of -29.55%. Use the drawdown chart below to compare losses from any high point for XTLT.TO and UUP.
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Drawdown Indicators
| XTLT.TO | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.04% | -29.55% | +8.51% |
Max Drawdown (1Y)Largest decline over 1 year | -9.72% | -7.38% | -2.34% |
Max Drawdown (3Y)Largest decline over 3 years | -16.07% | -15.22% | -0.85% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.22% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.63% | — |
Current DrawdownCurrent decline from peak | -9.60% | -6.95% | -2.65% |
Average DrawdownAverage peak-to-trough decline | -8.98% | -12.71% | +3.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.45% | 2.76% | +1.69% |
Volatility
XTLT.TO vs. UUP - Volatility Comparison
iShares 20+ Year U.S. Treasury Bond Index ETF (XTLT.TO) has a higher volatility of 3.14% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.70%. This indicates that XTLT.TO'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
| XTLT.TO | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.14% | 1.70% | +1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 7.27% | 7.08% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.21% | 9.80% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.17% | 12.36% | +1.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.17% | 12.07% | +2.10% |
XTLT.TO vs. UUP - Expense Ratio Comparison
XTLT.TO has a 0.18% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
XTLT.TO vs. UUP - Dividend Comparison
XTLT.TO's dividend yield for the trailing twelve months is around 4.97%, more than UUP's 3.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
UUP Invesco DB US Dollar Index Bullish Fund | 3.33% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
XTLT.TO iShares 20+ Year U.S. Treasury Bond Index ETF | 4.97% | 4.60% | 4.17% | 2.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XTLT.TO and UUP have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XTLT.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XTLT.TO is cheaper with a 0.18% expense ratio, compared with 0.75% for UUP.
XTLT.TO is categorized as Government Bonds, while UUP is Currency. XTLT.TO tracks ICE U.S. Treasury 20+ Year Bond Index, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.18% for XTLT.TO and 0.75% for UUP.
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