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ETFs

Invesco DB US Dollar Index Bearish Fund

UDN
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Feb 20 2007
Expense Ratio
0.77%
Type
US Currency
Fund Owner
Invesco
Volume (1m avg. daily)
$1,568,702
AUM
$70,163,786
Associated Index
Deutsche Bank Long USD Currency Portfolio Index
Inverse/Leveraged
Inverse (-1)
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

AGPXX
Invesco Government & Agency Portfolio
25.22%
B 0 10/05/23
United States Treasury Bill
10.64%
B 0 11/16/23
United States Treasury Bill
7.05%
B 0 12/07/23
United States Treasury Bill
3.51%
B 0 03/07/24
United States Treasury Bill
3.47%
Invest with UDN

What is UDN?

The Invesco DB US Dollar Index Bearish Fund (Symbol: UDN) seeks to track changes, whether positive or negative, in the level of the Deutsche Bank Short USD Currency Portfolio Index - Excess Return, (DB Short USD Currency Portfolio Index ER) plus the interest income from the Funds holdings of primarily US Treasury securities and money market income less the Funds expenses. The Fund is designed for investors who want a cost effective and convenient way to track the value of the U.S. dollar relative to a basket of the six major world currencies the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc (collectively, the "Basket Currencies"). The Index is a rules-based index composed solely of short U.S. Dollar Index futures contracts that trade on the ICE futures exchange (USDX futures contracts). The USDX futures contract is designed to replicate the performance of being short the U.S. dollar against the Basket Currencies.

ETFs related toUDN

ETFs correlated to UDN include FXE, FXB, IBND

UDN
Invesco DB US Dollar Index Trust - Invesco DB US Dollar Index Bearish Fund -1x Shares
FXE
Rydex Investments - Invesco CurrencyShares Euro Trust
FXB
Rydex Investments - Invesco CurrencyShares British Pound Sterling Trust
IBND
SPDR Series Trust - SPDR Bloomberg International Corporate Bond ETF
FXF
Rydex Investments - Invesco CurrencyShares Swiss Franc Trust
IGOV
BlackRock Institutional Trust Company N.A. - iShares International Treasury Bond ETF
BWX
SPDR Series Trust - SPDR Bloomberg International Treasury Bond ETF
LEMB
BlackRock Institutional Trust Company N.A. - iShares J.P. Morgan EM Local Currency Bond ETF
EBND
SPDR Series Trust - SPDR Bloomberg Emerging Markets Local Bond ETF
EFAV
BlackRock Institutional Trust Company N.A. - iShares MSCI EAFE Min Vol Factor ETF
JPIN
J.P.Morgan Investment Management Inc. - JPMorgan Diversified Return International Equity ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

UDN is a US Currency ETF. The Invesco DB US Dollar Index Bearish Fund (Symbol: UDN) seeks to track changes, whether positive or negative, in the level of the Deutsche Bank Short USD Currency Portfolio Index - Excess Return, (DB Short USD Currency Portfolio Index ER) plus the interest income from the Funds holdings of primarily US Treasury securities and money market income less the Funds expenses. The Fund is designed for investors who want a cost effective and convenient way to track the value of the U.S. dollar relative to a basket of the six major world currencies the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc (collectively, the "Basket Currencies"). The Index is a rules-based index composed solely of short U.S. Dollar Index futures contracts that trade on the ICE futures exchange (USDX futures contracts). The USDX futures contract is designed to replicate the performance of being short the U.S. dollar against the Basket Currencies.

UDN tracks the Deutsche Bank Long USD Currency Portfolio Index.

No, UDN is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, UDN is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on UDN is -0.0171%. This is the percent change in the value of UDN over the most recent 1-month period. The 3-month return on UDN is -0.0239%. This is the percent change in the value of UDN over the most recent 3-month period.

The standard deviation of UDN for the past year is 0.0902%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to UDN include YCL, ULE, and YCS.

ETFs correlated to UDN include FXE, FXB, and IBND.

ETFs that are inversely correlated to UDN include UUP, EUO, and USDU.

Yes, UDN is a Inverse (-1) ETF: This means that UDN will try to match the performance of Deutsche Bank Long USD Currency Portfolio Index, but with 1x the returns.

Yes, UDN is a Inverse (-1) leveraged ETF: This means that {characteristics.Identifier} will try to match the performance of Deutsche Bank Long USD Currency Portfolio Index, but move 1x in the opposite direction.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.