Which returned more over the last year, UDN or UUP?

In the year to Oct 14, 2026, with distributions reinvested, UDN returned −1.8% and UUP +7.9%.

Which is cheaper, UDN or UUP?

UDN is cheaper, by 0.01 percentage points a year. That is about $1 on $10,000 held for a year. Fees come from each fund's own filings.

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UDN vs UUP: Differences, Returns & Fees

UDN and UUP are both currency funds, and over the year UUP returned +7.9% against −1.8%. Net assets on Oct 14, 2026: $101m for Invesco DB USD Index Bearish ETF and $466m for Invesco DB USD Index Bullish Fund ETF.

UDN costs 0.01 points a year less; their one-year returns differ by 9.7 points; UUP is 4.6 times larger.

UDN vs UUP: Differences, Returns & Fees
	UDN	UUP
Expense ratio	0.68%	0.69%
Net assets	$101m	$466m
Total return, 1 year	−1.8%	+7.9%
What it tracks	Short dollar index futures	Dollar index futures
Holdings in common	not published
Below its high	29.4%, high on Mar 17, 2008

−1.8%

UDN total return, 1 year

+7.9%

UUP total return, 1 year

0.68%

UDN expense ratio

0.69%

UUP expense ratio

On the same fields

UDN

Invesco DB USD Index Bearish ETF

UUP

Invesco DB USD Index Bullish Fund ETF

Where it sits Commodity ETF Commodity ETF

Issuer Invesco Invesco

What it is Holds short dollar index futures Holds dollar index futures

Total return, 1 year −1.8% +7.9%

Its benchmark over the same days −3.7% (USDX, inverted) +3.5% (USDX)

Gap to its benchmark +1.8 pts vs USDX, inverted +4.4 pts vs USDX

Expense ratio 0.68% 0.69%

Net assets $101m $466m

UDN and UUP on the fields both publish, as of Oct 14, 2026. Source: ETFIQ.

About UDN

UDN holds short dollar index futures. Over the year to Oct 14, 2026 it returned −1.8% with distributions reinvested, against −3.7% for its benchmark, the daily inverse of the ICE U.S. Dollar Index. It sat 29.4% below its high of Mar 17, 2008 on Oct 14, 2026.

Its expense ratio is 0.68% a year, for the three months to Jun 30, 2026, as its 10-Q states.

About UUP

UUP holds dollar index futures. Over the year to Oct 14, 2026 it returned +7.9% with distributions reinvested, against +3.5% for its benchmark, the ICE U.S. Dollar Index.

Its expense ratio is 0.69% a year, for the three months to Jun 30, 2026, as its 10-Q states.

Questions people ask

Which returned more over the last year, UDN or UUP?: In the year to Oct 14, 2026, with distributions reinvested, UDN returned −1.8% and UUP +7.9%.
Which is cheaper, UDN or UUP?: UDN is cheaper, by 0.01 percentage points a year. That is about $1 on $10,000 held for a year. Fees come from each fund's own filings.

Other comparisons

UDN on its own →UUP on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

UDN filings on SEC EDGAR ↗Invesco page for UDN ↗UUP filings on SEC EDGAR ↗Invesco page for UUP ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

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ETFIQ, UDN against UUP, data as of Oct 14, 2026. https://etfiq.com/compare/any/udn-vs-uup

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Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.