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Is Invesco DB US Dollar Index Bullish ETF (UUP) a Strong ETF Right Now?
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Designed to provide broad exposure to the Currency ETFs category of the market, the Invesco DB US Dollar Index Bullish ETF (UUP - Free Report) is a smart beta exchange traded fund launched on 02/20/2007.
What Are Smart Beta ETFs?
The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.
Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replicating market returns, they work well for investors who believe in market efficiency.
However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.
Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance.
Methodologies like equal-weighting, one of the simplest options out there, fundamental weighting, and volatility/momentum based weighting are all choices offered to investors in this space, but not all of them can deliver superior returns.
Fund Sponsor & Index
The fund is managed by Invesco, and has been able to amass over $445.8 million, which makes it the largest ETF in the Currency ETFs. Before fees and expenses, this particular fund seeks to match the performance of the Deutsche Bank Long USD Currency Portfolio Index - Excess Return.
The Deutsche Bank Long USD Currency Portfolio Index - Excess Return is a rules-based index composed solely of long U.S. Dollar Index futures contracts that trade on the ICE futures exchange.
Cost & Other Expenses
Expense ratios are an important factor in the return of an ETF and in the long-term, cheaper funds can significantly outperform their more expensive cousins, other things remaining the same.
Operating expenses on an annual basis are 0.70% for UUP, making it one of the most expensive products in the space.
It has a 12-month trailing dividend yield of 0.00%.
Sector Exposure and Top Holdings
While ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
Looking at individual holdings, Nybot Finex United States Dollar Index Future-06-15-2026 (DXM6) accounts for about 100.32% of total assets, followed by Invesco Government & Agency Portfolio (AGPXX) and Cash Collateral (FUTPLGCSH).
The top 10 holdings account for about 200.32% of total assets under management.
Performance and Risk
Year-to-date, the Invesco DB US Dollar Index Bullish ETF has added about 5.07% so far, and it's up approximately 4.91% over the last 12 months (as of 07/08/2026). UUP has traded between $26.47 $28.53 in this past 52-week period.
The ETF has a beta of -0.21 and standard deviation of 7.66% for the trailing three-year period, making it a medium risk choice in the space. With about 3 holdings, it has more concentrated exposure than peers .
Alternatives
Invesco DB US Dollar Index Bullish ETF is a reasonable option for investors seeking to outperform the Currency ETFs segment of the market. However, there are other ETFs in the space which investors could consider.
Invesco DB Commodity Index Tracking ETF (DBC) tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return and the Harbor Commodity All-Weather Strategy ETF (HGER) tracks QUANTIX COMMODITY INDEX. Invesco DB Commodity Index Tracking ETF has $1.57 billion in assets, Harbor Commodity All-Weather Strategy ETF has $3.35 billion. DBC has an expense ratio of 0.82% and HGER changes 0.68%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Currency ETFs
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Is Invesco DB US Dollar Index Bullish ETF (UUP) a Strong ETF Right Now?
Designed to provide broad exposure to the Currency ETFs category of the market, the Invesco DB US Dollar Index Bullish ETF (UUP - Free Report) is a smart beta exchange traded fund launched on 02/20/2007.
What Are Smart Beta ETFs?
The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.
Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replicating market returns, they work well for investors who believe in market efficiency.
However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.
Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance.
Methodologies like equal-weighting, one of the simplest options out there, fundamental weighting, and volatility/momentum based weighting are all choices offered to investors in this space, but not all of them can deliver superior returns.
Fund Sponsor & Index
The fund is managed by Invesco, and has been able to amass over $445.8 million, which makes it the largest ETF in the Currency ETFs. Before fees and expenses, this particular fund seeks to match the performance of the Deutsche Bank Long USD Currency Portfolio Index - Excess Return.
The Deutsche Bank Long USD Currency Portfolio Index - Excess Return is a rules-based index composed solely of long U.S. Dollar Index futures contracts that trade on the ICE futures exchange.
Cost & Other Expenses
Expense ratios are an important factor in the return of an ETF and in the long-term, cheaper funds can significantly outperform their more expensive cousins, other things remaining the same.
Operating expenses on an annual basis are 0.70% for UUP, making it one of the most expensive products in the space.
It has a 12-month trailing dividend yield of 0.00%.
Sector Exposure and Top Holdings
While ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
Looking at individual holdings, Nybot Finex United States Dollar Index Future-06-15-2026 (DXM6) accounts for about 100.32% of total assets, followed by Invesco Government & Agency Portfolio (AGPXX) and Cash Collateral (FUTPLGCSH).
The top 10 holdings account for about 200.32% of total assets under management.
Performance and Risk
Year-to-date, the Invesco DB US Dollar Index Bullish ETF has added about 5.07% so far, and it's up approximately 4.91% over the last 12 months (as of 07/08/2026). UUP has traded between $26.47 $28.53 in this past 52-week period.
The ETF has a beta of -0.21 and standard deviation of 7.66% for the trailing three-year period, making it a medium risk choice in the space. With about 3 holdings, it has more concentrated exposure than peers .
Alternatives
Invesco DB US Dollar Index Bullish ETF is a reasonable option for investors seeking to outperform the Currency ETFs segment of the market. However, there are other ETFs in the space which investors could consider.
Invesco DB Commodity Index Tracking ETF (DBC) tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return and the Harbor Commodity All-Weather Strategy ETF (HGER) tracks QUANTIX COMMODITY INDEX. Invesco DB Commodity Index Tracking ETF has $1.57 billion in assets, Harbor Commodity All-Weather Strategy ETF has $3.35 billion. DBC has an expense ratio of 0.82% and HGER changes 0.68%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Currency ETFs
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.