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Is Invesco DB US Dollar Index Bullish ETF (UUP) a Strong ETF Right Now?
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Launched on 02/20/2007, the Invesco DB US Dollar Index Bullish ETF (UUP - Free Report) is a smart beta exchange traded fund offering broad exposure to the Currency ETFs category of the market.
What Are Smart Beta ETFs?
The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
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.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor & Index
UUP is managed by Invesco, and this fund has amassed over $484.12 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
Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio.
Operating expenses on an annual basis are 0.70% for UUP, making it one of the most expensive products in the space.
The fund has a 12-month trailing dividend yield of 0.00%.
Sector Exposure and Top Holdings
Most ETFs are very transparent products, and disclose their holdings on a daily basis. ETFs also offer diversified exposure, which minimizes single stock risk, though it's still important for investors to research a fund's holdings.
Looking at individual holdings, Nybot Finex United States Dollar Index Future-12-14-2026 (DXZ6) accounts for about 102.6% of total assets, followed by Invesco Government & Agency Portfolio (AGPXX) and Cash Collateral.
UUP's top 10 holdings account for about 202.6% of its total assets under management.
Performance and Risk
So far this year, UUP return is roughly 8.58%, and is up about 4.3% in the last one year (as of 11/12/2026). During this past 52-week period, the fund has traded between $26.47 and $29.35.
The ETF has a beta of -0.21 and standard deviation of 7.59% for the trailing three-year period, making it a medium risk choice in the space. With about 4 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 $1.84 billion in assets, Harbor Commodity All-Weather Strategy ETF has $4.64 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?
Launched on 02/20/2007, the Invesco DB US Dollar Index Bullish ETF (UUP - Free Report) is a smart beta exchange traded fund offering broad exposure to the Currency ETFs category of the market.
What Are Smart Beta ETFs?
The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
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.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor & Index
UUP is managed by Invesco, and this fund has amassed over $484.12 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
Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio.
Operating expenses on an annual basis are 0.70% for UUP, making it one of the most expensive products in the space.
The fund has a 12-month trailing dividend yield of 0.00%.
Sector Exposure and Top Holdings
Most ETFs are very transparent products, and disclose their holdings on a daily basis. ETFs also offer diversified exposure, which minimizes single stock risk, though it's still important for investors to research a fund's holdings.
Looking at individual holdings, Nybot Finex United States Dollar Index Future-12-14-2026 (DXZ6) accounts for about 102.6% of total assets, followed by Invesco Government & Agency Portfolio (AGPXX) and Cash Collateral.
UUP's top 10 holdings account for about 202.6% of its total assets under management.
Performance and Risk
So far this year, UUP return is roughly 8.58%, and is up about 4.3% in the last one year (as of 11/12/2026). During this past 52-week period, the fund has traded between $26.47 and $29.35.
The ETF has a beta of -0.21 and standard deviation of 7.59% for the trailing three-year period, making it a medium risk choice in the space. With about 4 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 $1.84 billion in assets, Harbor Commodity All-Weather Strategy ETF has $4.64 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.