Invesco DB US Dollar Index Bullish Fund (UUP) Performance
UUP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +7.1% since Dec 31, 2025
- 1 year
- +7.3% total return
- 5 years
- +6.0% a year
- 10 years
- +3.1% a year
- Since first price
- +1.7% a year since 2007
UUP trailing returns vs SPY, QQQ, AGG
| Period | UUP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +1.1% | +1.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.4% | +1.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.2% | +5.2% | +7.8% | +8.4% | −1.5% |
| YTD | +7.1% | +7.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +7.3% | +3.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +12.2%+3.9%/yr | −2.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +33.7%+6.0%/yr | +15.3% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +35.9%+3.1%/yr | +13.6% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +60.9%+3.2%/yr | +34.4% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionFeb 20, 2007 | +40.4%+1.7%/yr | +15.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: UUP vs SPY
From Feb 20, 2007: UUP grew to $14,037, SPY to $74,595.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
UUP returns by calendar year
10 of 18 full years positive. Best 2024 (+13.5%), worst 2017 (−9.1%). 2026 is year to date.
UUP annual returns table
| Year | UUP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +7.1% | −3.5% | +12.3% | +15.1% | −1.0% |
| 2025 | −5.0% | −10.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +13.5% | −4.3% | +24.9% | +25.6% | +1.3% |
| 2023 | +3.6% | −4.6% | +26.2% | +54.9% | +5.7% |
| 2022 | +9.5% | −8.7% | −18.2% | −32.6% | −13.0% |
| 2021 | +5.7% | −4.0% | +28.7% | +27.4% | −1.8% |
| 2020 | −6.7% | −14.0% | +18.3% | +48.6% | +7.5% |
| 2019 | +4.1% | −2.3% | +31.2% | +39.0% | +8.5% |
| 2018 | +7.0% | −4.1% | −4.6% | −0.1% | +0.1% |
| 2017 | −9.1% | −11.2% | +21.7% | +32.7% | +3.6% |
| 2016 | +3.2% | −7.2% | +12.0% | +7.1% | +2.4% |
| 2015 | +7.0% | −7.9% | +1.2% | +9.4% | +0.5% |
| 2014 | +11.4% | −3.1% | +13.5% | +19.2% | +6.0% |
| 2013 | −1.3% | −7.0% | +32.3% | +36.6% | −2.0% |
| 2012 | −2.9% | −6.3% | +16.0% | +18.1% | +3.8% |
| 2011 | −1.1% | −10.4% | +1.9% | +3.4% | +7.7% |
| 2010 | −1.6% | −14.9% | +15.1% | +19.9% | +6.4% |
| 2009 | −6.5% | −17.6% | +26.4% | +54.7% | +3.0% |
| 2008 | +4.9% | −10.9% | −36.8% | −41.7% | +7.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
UUP largest drawdowns
Now 0.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Nov 20, 2008 | −22.2% | Jul 26, 2011 | Jul 31, 2019 | 2.7 years | 10.7 years |
| Mar 19, 2020 | −14.2% | Jan 6, 2021 | Jun 13, 2022 | 10 months | 2.2 years |
| Jun 14, 2007 | −11.2% | Apr 16, 2008 | Oct 6, 2008 | 10 months | 1.3 years |
| Sep 27, 2022 | −10.4% | Feb 1, 2023 | Apr 10, 2024 | 4 months | 1.5 years |
| Jan 13, 2025 | −10.1% | Jul 2, 2025 | Oct 1, 2026 | 6 months | 1.7 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
UUP risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +3.6% | +5.7% | +3.4% | +1.7% |
| Volatility (annualized) | 6.8% | 7.2% | 6.5% | 7.7% |
| Sharpe ratio | -0.08 | 0.30 | 0.20 | 0.08 |
| Sortino ratio | -0.12 | 0.46 | 0.29 | 0.13 |
| Best month | +3.8% | +4.8% | +4.8% | +8.4% |
| Worst month | −4.0% | −4.7% | −4.7% | −6.4% |
| Best 12 months | +13.5% | +19.1% | +19.1% | +20.7% |
| Worst 12 months | −5.9% | −5.9% | −9.6% | −15.9% |
| Positive months | 53% | 53% | 55% | 51% |
| Beta vs S&P 500 | -0.13 | -0.20 | -0.16 | — |
| Correlation with S&P 500 | -0.23 | -0.43 | -0.38 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
UUP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 225 | −15.9% | +1.5% | +20.7% | 59% |
| 3-year (a year) | 201 | −6.4% | +2.1% | +8.8% | 72% |
| 5-year (a year) | 177 | −4.2% | +2.3% | +5.9% | 81% |
| 10-year (a year) | 117 | −0.2% | +2.0% | +4.3% | 94% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
UUP performance overview
Invesco DB US Dollar Index Bullish Fund (UUP) returned +7.3% over the past year and +3.1% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +1.7% a year, turning $10,000 into about $14,037. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −22.2%, from Nov 20, 2008 to Jul 26, 2011, and it took 8.0 years to get back to the old high. UUP finished 10 of its 18 full calendar years with a gain; the best year was 2024 (+13.5%) and the worst 2017 (−9.1%). Volatility has been 7.7% a year.
Related: UUP chart, UUP dividends. See the UUP overview for the latest quote and fund facts.
UUP performance FAQ
What is the UUP return over the past year?
UUP returned +7.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 3.8%.
What is the average annual return of UUP?
UUP has returned +6.0% a year over 5 years, +3.1% a year over 10 years, +1.7% a year since February 20, 2007 (total return, distributions reinvested).
How much would $10,000 invested in UUP be worth?
$10,000 invested in UUP at its first recorded close on February 20, 2007 would be worth about $14,037 on October 23, 2026 with distributions reinvested.
What was the worst year for UUP?
The worst calendar year was 2017, with a total return of −9.1%. The best was 2024 at +13.5%.
What is the biggest drawdown of UUP?
The largest peak-to-trough decline was −22.2% between November 20, 2008 and July 26, 2011. It recovered to the old high on July 31, 2019, 8.0 years after the bottom.
How volatile is UUP?
Over the past 3 years UUP had an annualized volatility of 6.8% and a Sharpe ratio of -0.08 (excess return over 1–3 month T-bills per unit of risk).