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 12/18/14]
1 Month
3 Month
YTD
1 Year
3 Years
5 Years
10 Years

UUP
1.76% 5.53% 9.99% 9.43% 1.72% 0.57% --

UUP (NAV)
1.75% 5.50% 10.05% 9.95% -- -- --

-- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

UUP Top 10 Holdings

UUP Summary Data

Issuer Invesco PowerShares

A company that produces and manages ETFs.

Inception Date 02/20/07

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

Legal Structure Commodities Pool

The organizational structure of the fund or ETN.

Expense Ratio 0.73%

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

Assets Under Management $918.47 M

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

Average Daily $ Volume $36.81 M

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

(60-Day) | 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." href="javascript:void(0)" class="term">Average Spread (60-Day) 0.04%

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

Next Distribution Date --

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

Access Derivative

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

Related ETFs to UUP

Top Competing ETFs USDU

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

UUP Commentary & News

17 November 2014
WisdomTree's New Long Dollar ETF Shines | ETF.com
Dennis Hudachek
14 November 2014
Features and News | ETF.com
14 October 2014
Features and News | ETF.com

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

Expense Ratio 0.73%

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

UUP Tax exposures

Max LT/ST Capital Gains Rate 27.84% / 27.84%

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

Distributes K1 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

Legal Structure Commodities Pool

The organizational structure of the fund or ETN.

Access Derivative

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

OTC Derivative Use No

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

ETN Counterparty/Depository 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.

ETN Counterparty Risk N/A

The risk of default by the ETN counterparty.

Fund Closure Risk Low

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

Portfolio Disclosure 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 12/19/2014

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

Avg. Daily Share Volume 1,585,022

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

Average Daily $ Volume $36.81 M

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

Median Daily Share Volume 1,371,811

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

(%) | 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." href="javascript:void(0)" class="term">Average Spread (%) 0.04%

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.

($) | The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars." href="javascript:void(0)" class="term">Average Spread ($) $0.01

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

(12 Mo) | 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." href="javascript:void(0)" class="term">Max. Premium / Discount (12 Mo) 0.34% / -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.

Impediment to Creations 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.

Market Hours Overlap 100.00%

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

(Shares) | 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." href="javascript:void(0)" class="term">Creation Unit Size (Shares) 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.

(45 Day Average) | 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." href="javascript:void(0)" class="term">Creation Unit/Day (45 Day Average) 6.86

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.

(%) | The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit." href="javascript:void(0)" class="term">Creation Unit Cost (%) 0.01%

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

Open Interest on ETF Options 304,767

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

ETF.com Implied Liquidity 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

Beta 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.

Up Beta 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.

Down Beta 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
Euro 16.22% 57.60%

Japanese Yen 7.55% 13.60%

British Pound 3.39% 11.90%

Canadian Dollar 12.62% 9.10%

Swedish Krona 0.73% 4.20%

Swiss Franc 1.63% 3.60%

Argentine Peso 0.63% 0.00%

Australian Dollar 1.42% 0.00%

Brazilian Real 2.20% 0.00%

Chilean Peso 0.88% 0.00%

UUP Portfolio Tilts Comparison

UUP Segment Benchmark
Effective Duration 0.0 0.0

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

Avg. Days to Maturity -- --

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

Currency Yield -- 0.00%

The annualized current overnight yield of the portfolio.