UUP Fund Description

The PowerShares DB US Dollar Index Bullish ETF provides inverse exposure to an index of USDX futures contracts that rises in value as the dollar appreciates relative to a basket of world currencies.

UUP ETF.com Insight

UUP goes long the US dollar and short the currencies of the US’ major trading partners using USDX futures. That means it’s shorting the euro, Japanese yen, British pound,UUP goes long the US dollar and short the currencies of major trading partners Canadian dollar, Swedish krona and Swiss franc. The USDX’s currency weights have been fixed since 1973: Its largest short exposure is to the euro, followed by the yen and pound. Overall, UUP captures the short USDX futures market well, but it’s expensive and has underperformed our benchmark over the past year. The bright side here, however, is very high liquidity: UUP should be easy to trade in and out of regardless of trade size. (Insight updated 06/24/2014)

1 Year

Performance [as of 09/17/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

UUP
3.82% 4.60% 4.69% 2.88% 1.20% -0.13% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

UUP Top 10 Holdings

UUP Summary Data

Invesco PowerShares

A company that produces and manages ETFs.

02/20/07

The first date of a fund's operations, as documented by the issuer.

Commodities Pool

The organizational structure of the fund or ETN.

0.73%

The net total annual fee a fund holder pays to the issuer.

$812.8 M

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$21.35 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.05%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.

UUP Portfolio Data

0.00%

The fund’s trailing twelve month yield, displayed as a percentage.

--

The upcoming date on which the fund trades without its upcoming dividend

Derivative

Discloses the strategy behind how the fund gains exposure to the underlying currency (In Specie or Derivative).

Related ETFs to UUP

USDU

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

UUP Commentary & News

15 September 2014
Features and News | ETF.com
4 September 2014
ETF Report
3 September 2014
Features and News

UUP ETF.com Efficiency Insight

UUP is expensive but efficient. It charges 73 bps; more than most currency funds but in line with most futures-based funds. It’s a very popular fund that has also been tax efficient: UUP hasn’t made a single capital gains or income distribution in recent history. Structured as a commodities pool, UUP distributes K-1s and is marked-to-market at year-end. (Insight updated 06/24/2014)

Total Return - 06/24/2014

Performance [as of 06/24/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

UUP
-0.28% 0.05% -0.46% -4.20% -0.32% -2.24% --

UUP (NAV)
-0.28% 0.05% -0.42% -4.12% -0.34% -2.26% --

DB Long USD Futures Index
-- -- -- -- -- -- --

IU-Solactive US Dollar Index (Long Dollar)
-0.05% -0.85% 0.39% -0.29% 2.26% -0.56% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

UUP Portfolio Management

0.73%

The net total annual fee a fund holder pays to the issuer.

UUP Tax exposures

27.84% / 27.84%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

--

The average annualized short–term capital gains distributions from the fund over a 3 year period, displayed as a percentage.

--

The average annualized long–term capital gains distributions from the fund over a 3 year period, displayed as a percentage.

--

The average annualized ordinary income distributions from the fund over a 3 year period, displayed as a percentage.

Yes

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

UUP Fund Structure

Commodities Pool

The organizational structure of the fund or ETN.

Derivative

Discloses the strategy behind how the fund gains exposure to the underlying currency (In Specie or Derivative).

No

An indicator of whether the fund uses over-the–counter derivatives such as swaps or forwards to achieve its objectives.

N/A

The institution responsible for providing the return of the stated index or holding the deposits of physical currrency, whose credit is the sole backing of the product.

N/A

The risk of default by the ETN counterparty.

Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Daily

The frequency of an issuer's disclosure of all fund holdings.

UUP ETF.com Tradability Insight

UUP is extremely liquid, with average spreads equivalent to one cent. Unsurprisingly, UUP also earns a perfect block liquidity score, indicating that investors should be able to trade large blocks at fair prices with the assistance of a market maker. Overall, UUP should be easy and cheap to trade regardless of your trade size or timing. (Insight updated 06/24/2014)

Average Spread

Premium/Discount

Volume

UUP ETF.com/ Block LiquidityAs of 09/18/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of UUP. UUP is rated a 5 out of 5.

UUP Tradability

974,636

It is the daily number of shares traded, averaged over the past 45 trading days.

$21.35 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

787,511

Median number of shares traded over the past 45 trading days.

$17.09 M

Median dollar value of shares traded over the past 45 trading days.

0.05%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

$0.01

The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars.

0.00%

The middle value in the ranked set of all premium/discount values over a maximum 12-month period.

0.46% / -0.22%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

100.00%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

200,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

2.20

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.00%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

379,478

The total number of net outstanding options contracts for an ETF.

$22.45

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

UUP ETF.com Fit Insight

UUP captures the long-US dollar market well, with a basket of contracts that are long the dollar and short the currencies of the US’ major trading partners. Unlike our benchmark, UUP has heavy exposure to the euro, so positive moves in the euro will have strongly negative impacts on the fund. UUP’s futures-only portfolio has, as expected, underperformed our benchmark over the past year, largely due to the strength in the euro currency. (Insight updated 06/24/2014)

UUP Top 10 Holdings

UUP Top 5 Collateral Investments

UUP Performance Statistics

0.63

The degree to which the fund and its segment benchmark move up and down in unison.

1.35

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

1.49

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

1.46

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

UUP Currency Exposure

UUP Segment Benchmark
16.22% 57.60%
7.55% 13.60%
3.39% 11.90%
12.62% 9.10%
0.73% 4.20%
1.63% 3.60%
0.63% 0.00%
1.42% 0.00%
2.20% 0.00%
0.88% 0.00%

UUP Portfolio Tilts Comparison

UUP Segment Benchmark
0.0 0.0

Price sensitivity in percentage to a 100 basis point parallel shift (up or down) in interest rates.

-- --

The average remaining days until maturity for all currency contracts in the portfolio.

-- 0.00%

The annualized current overnight yield of the portfolio.