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Launched · SEC filings

Invesco DB US Dollar Index Bullish Fund

UUPNYSE ArcaInvescoC

$28.96−0.04 (−0.14%)

At close: Nov 2, 2026, 4:00 PM ET

C49/ 100

Rank 8 of 9 in Single Currency

C49/100Rank 8 of 9inSingle Currency
Intraday session: down, 79 prints from 29.00 to 28.96. Range 28.91 to 28.98. Use the arrow keys to read each point.28.9228.9428.9810 AM12 PM2 PM4 PM
Expense ratio
0.78%
Fund size
$481M
1Y total return
+6.3%
Yield · Last 12 months
3.20%
Holdings
3
Avg volume · 30D
1.73M sh
52W range
low $26.40high $29.25
Launched
Filings
SEC EDGAR

The ETF.net UUP Grade

Based on 5 of 6 pillars

C

Score 49 out of 100

Category
Single Currency⁠
Rank
8 of 9
Six-pillar profile for UUP. Scores out of 100: Cost 17, Risk 64, Mission not scored, Tradability 94, Holdings 0, Durability 70. Strongest: Tradability (94). Weakest: Holdings (0). Based on 5 of 6 pillars.

Score 49 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F17 out of 100
    Rank 8 of 9

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B64 out of 100
    Rank 3 of 9

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A94 out of 100
    Rank 1 of 9

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    F0 out of 100
    Rank 3 of 3

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A70 out of 100
    Rank 1 of 9

Our read on UUP

ETF.net Research

In short

COne ticker, one job: be long the dollar. Since 2007 UUP has used ICE Dollar Index futures to track the greenback against six major currencies, putting a macro trade that normally needs a futures account inside a brokerage account.

Stated mandate

The Fund seeks to track positive or negative changes in the Deutsche Bank Long USD Currency Portfolio Index—Excess Return over time. It primarily uses long positions in ICE U.S. Dollar Index futures contracts, while holding Treasury and cash-management instruments for related purposes.

Why people hold it

  • The mechanism is pure: long ICE U.S. Dollar Index futures, so the fund moves with the dollar against the euro, yen, pound, Canadian dollar, Swedish krona and Swiss franc.invesco.com
  • Launched in 2007, it has run through dollar booms and slumps, making it one of the longest-lived currency funds on the tape.
  • Tradability is its strongest suit: an actively traded name where getting in and out rarely means wrestling the spread.
  • Futures carry the currency exposure while Treasury and cash-management instruments sit behind them as collateral.

Worth knowing

  • 0.78% a year is a real hurdle, and well above what plain broad-market index trackers in the same cohort charge.
  • It is a commodity pool built on futures, not a standard stock fund, so tax forms and reporting work differently.
  • Currency moves are the entire story here: no earnings, no dividend stream, and distributions are occasional rather than regular.

UUP Holdings

Holdings pillarF0 out of 100Rank 3 of 3 in Single Currency
Asset class
Other
Holdings
3
Top-10 weight
100%
Largest holding
AGPXX100.0%

Sectors

  • Financials100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1AGPXXInvesco Government & Agency Portfolio100.04%471,255,180$471M230
2No dataUSD Pending Dividends0.30%0$1.4M242
3No dataCash & Equivalents0.13%619,368$619K88

Showing 1–3 of 3 holdings

UUP Performance

Launched Feb 20, 2007

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

UUP$10,633
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. UUP $10,633. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for UUP. Periods over one year show the average yearly return.
PeriodUUP
Year to date+7.3%
1 month+0.8%
3 months+2.9%
1 year+6.3%
3 yearsper year+3.6%
5 yearsper year+5.9%
10 yearsper year+3.2%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for UUP
YearReturn barUUP
2026 YTD+7.3%
2025−5.0%
2024+13.5%
2023+3.6%
2022+9.5%

UUP in the news

UUP Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
3.20%Last 12 months
Payout per share
$0.93Last 12 months
Last payment
$0.93 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Special

Distribution history

2017–2026

One bar per payment. 7 payments from 2017 to 2026 YTD. Dec 18, 2017 $0.02; Dec 24, 2018 $0.28; Dec 23, 2019 $0.53; Dec 19, 2022 $0.25; Dec 18, 2023 $1.75; Dec 23, 2024 $1.32; Dec 22, 2025 $0.93. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 26, 2025$0.93
Dec 23, 2024Dec 27, 2024$1.32
Dec 18, 2023Dec 22, 2023$1.75
Dec 19, 2022Dec 23, 2022$0.25
Dec 23, 2019Dec 31, 2019$0.53
Dec 24, 2018Dec 31, 2018$0.28
Dec 18, 2017Dec 29, 2017$0.02
Dec 15, 2008No data$0.17
Dec 17, 2007No data$0.20

— Pay date not on file.

$10,000 in UUP 10 years ago paid $2,020 in dividends.

UUP Risk

Risk pillarB64 out of 100Rank 3 of 9 in Single Currency
How much the fund’s monthly returns vary, scaled to a year.
6.8%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.11
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−10.4%
Trough Feb 2023
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−0.19
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

UUP Cost

Compare UUP and FXY

Overpaying vs FXY, tied cheapest in Single Currency

$6,912

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • UUP 0.78%

    $15,002

  • FXY 0.40% Tied cheapest

    $8,090

$10,000
30 years

Cost over time

  • UUP 0.78%
  • FXY 0.40%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530UUP $15,002FXY $8,090

Year by year

YearUUPFXYOverpaying
10$1,388$723$665
20$5,268$2,793$2,475
30$15,002$8,090$6,912

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