ETF research
UUP: Invesco DB US Dollar Index Bullish Fund research
As of 09-28-2026
UUP sits above its 200-day average with steady gains across 1m, 3m, 6m and 12m periods, showing a genuine uptrend in the dollar. However, its negative relative strength vs SPY (-2.33% over 3 months) shows it lags equities, which fits a risk-on regime where investors prefer growth assets over currency hedges. The extreme negative beta (-9.48) makes it a portfolio diversifier rather than a return driver, and the wide spread (97.7 bps) adds cost.
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