# UDN (Invesco DB USD Index Bearish ETF)

Invesco · Commodity ETFs · Currency · data as of Oct 14, 2026

UDN returned −1.8% over the year to Oct 14, 2026, charges 0.68% a year and holds $101m in net assets on Oct 14, 2026.

UDN holds short dollar index futures and returned −1.8% over the year to Oct 14, 2026.

## Key facts

- UDN, total return, 1 year: −1.8%, as of Oct 14, 2026.
- UDN, expense ratio: 0.68%, as of Oct 14, 2026.
- UDN, contracts (10-Q, Jun 30, 2026): 1, as of Oct 14, 2026.
- UDN, below its high: −29.4%, as of Oct 14, 2026.
- UDN, 12-month yield, capital gains included, on its starting price: 2.9%, as of Oct 14, 2026.
- UDN, last payment (paid annual), ex-date Dec 22, 2025: $0.5355, as of Oct 14, 2026.
- UDN, net assets: $101m (issuer page, as of Oct 14, 2026).

## UDN over each window to Oct 14, 2026

| Window | Total return | Benchmark (USDX, inverted) | Gap to USDX, inverted |
| --- | --- | --- | --- |
| 1 month | −3.0% | −3.0% | 0.0 pts |
| 3 months | −1.6% | −2.0% | +0.4 pts |
| 6 months | −3.6% | −4.5% | +0.8 pts |
| Year to date | −3.0% | −4.4% | +1.5 pts |
| 1 year | −1.8% | −3.7% | +1.8 pts |
| 3 years | +10.4% | +2.8% | +7.6 pts |
| 5 years | −1.7% | not available | not available |
| 10 years | −2.5% | not available | not available |
| Since launch | −15.1% | not available | not available |
| Since launch, annualised | −0.8% | – | – |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| What it holds | Short dollar index futures | ETFIQ |
| Fund type | Currency fund | ETFIQ |
| Category | Commodities · Currency | ETFIQ |
| Expense ratio, three months to Jun 30, 2026 | 0.68% | 10-Q, Aug 7, 2026 |
| Price | $17.70 | ETFIQ |
| First traded | Mar 1, 2007 | ETFIQ |
| Net assets | $101m | issuer page, as of Oct 14, 2026 |
| Benchmark | The daily inverse of the ICE U.S. Dollar Index, from Tiingo's rates at 4:00 PM New York time | ETFIQ, from its filings |
| Benchmark named in | 10-Q, Aug 7, 2026 | ETFIQ |
| UDN, 1 year to Oct 14, 2026 | −1.84% | ETFIQ |
| USDX, inverted, the same days | −3.67% | ETFIQ |
| Against its benchmark, 1 year | +1.83 pts | ETFIQ |
| What the benchmark leaves out | The pool holds futures on this index and Treasury bills, and its own index (Deutsche Bank’s, excess return) tracks those futures and is not published free, so the gap includes the cost of rolling the futures and the Treasury income. | ETFIQ |
| Below its high | −29.4% | ETFIQ |

## Money in and out, to Oct 14, 2026

| Window | Dates | Net flow |
| --- | --- | --- |
| 1 day | Oct 14, 2026 | $0 |

Daily counts start Oct 12, 2026, so these windows have no daily figure: 1 week, 1 month, 3 months, Year to date, 1 year.

Computed by ETFIQ from the change in shares outstanding times the previous day’s NAV. Every day and month: https://etfiq.com/data/flows/funds/udn.json. Method: https://etfiq.com/methodology/flows

## Questions

### How has UDN performed?

Over the year to Oct 14, 2026, UDN returned −1.8% with distributions reinvested, against −3.7% for its benchmark, the daily inverse of the ICE U.S. Dollar Index. Over three years the figure is +10.4%.

### What does UDN cost?

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

### How far is UDN below its high?

29.4% below its high of Mar 17, 2008, measured on the reinvested series to Oct 14, 2026.


## Cite this page

ETFIQ, UDN, currency fund, data as of Oct 14, 2026. https://etfiq.com/funds/udn
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/udn  ·  JSON: https://etfiq.com/funds/udn.json