UDN vs FXE Stock Comparison: AI Score, Valuation, Performance and Upside
UDN and FXE sit in related but distinct corners of the ETF landscape — UDN centers on direct, short exposure to a falling US dollar, while FXE focuses on direct, deposit-backed exposure to the euro versus the dollar. Investors choosing between them should weigh how each fund's strategy lines up with their own goals rather than assuming they're interchangeable.
Choosing between UDN and FXE comes down to which specific exposure — direct, short exposure to a falling US dollar or direct, deposit-backed exposure to the euro versus the dollar — better matches the role you want this holding to play in a diversified portfolio.
UDN holds the edge across 3 of 5 key metrics in this comparison. UDN has delivered stronger 1-year price return (-1.67% vs -3.05% for FXE).
- want direct, short exposure to a falling US dollar
- prefer Invesco's approach and fund lineup
- value direct, liquid way to express a bearish dollar view without forex trading accounts
- are comfortable with currency movements are notoriously difficult to predict and trade profitably
- want direct, deposit-backed exposure to the euro versus the dollar
- prefer Invesco's approach and fund lineup
- value physically-backed euro deposits avoid futures-roll costs entirely
- are comfortable with currency movements are notoriously difficult to predict and trade profitably
| Metric | UDN | FXE |
|---|---|---|
| ETF scorei | 21.7 | 24.2 |
| Latest closei | $17.86 | $103.75 |
| 1M returni | -1.27% | -1.90% |
| 3M returni | -0.61% | -1.53% |
| 6M returni | -2.67% | -4.10% |
| 1Y returni | -1.67% | -3.05% |
The ETF score weights long-term returns and risk-adjusted performance most heavily, but still rewards low expense ratios, larger fund size, and broader diversification — so it can favor low-cost, broad, mega-cap funds over smaller thematic or actively-managed funds even when the latter have delivered stronger returns.
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | UDN | FXE |
|---|---|---|
| 1Y ago | $10.12K (+1.2%) started 2025-10-16 | $9.77K (-2.3%) started 2025-10-16 |
| 5Y ago | $11.49K (+14.9%) started 2021-10-18 | $10.7K (+7.0%) started 2021-10-18 |
| 10Y ago | $11.7K (+17.0%) started 2016-10-17 | $10.81K (+8.1%) started 2016-10-17 |
Hypothetical — past performance does not guarantee future results.
| Metric | UDN | FXE |
|---|---|---|
| Expense ratioi | 0.75% | 0.40% |
| Total assets (AUM)i | $102.99M | $329.84M |
| Dividend yieldi | 2.99% | 0.78% |
| Trailing P/Ei | N/A | N/A |
| Betai | 0.23 | 0.17 |
| 52-week change | -1.67% | -3.05% |
| Metric | UDN | FXE |
|---|---|---|
| 1Y returni | -1.67% | -3.05% |
| 6M returni | -2.67% | -4.10% |
| 3M returni | -0.61% | -1.53% |
| 1M returni | -1.27% | -1.90% |
| 1Y Sharpe ratio | -1.09 | -1.39 |
| Betai | 0.23 | 0.17 |
| Dividend yieldi | 2.99% | 0.78% |
| 5Y CAGR | -0.14% | +0.25% |
Over the past year, UDN and FXE have moved strongly in the same direction (correlation of 0.96), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | UDN | FXE |
|---|---|---|---|
| 1Y | Growthi | -1.67% | -3.05% |
| CAGRi | -1.67% | -3.05% | |
| Volatilityi | 5.52% | 5.38% | |
| Sharpe ratioi | -1.09 | -1.39 | |
| Sortino ratioi | -1.54 | -1.89 | |
| Max drawdowni | 5.55% | 6.74% | |
| Current drawdowni | 4.64% | 6.04% | |
| Avg drawdowni | 2.48% | 2.75% | |
| Ulcer Indexi | 2.90% | 3.25% | |
| Max daily dropi | 0.98% | 1.06% | |
| Max wkly dropi | 2.04% | 2.19% | |
| 5Y | Growthi | -0.70% | +1.26% |
| CAGRi | -0.14% | +0.25% | |
| Volatilityi | 7.44% | 7.67% | |
| Sharpe ratioi | -0.59 | -0.52 | |
| Sortino ratioi | -0.84 | -0.73 | |
| Max drawdowni | 19.22% | 18.59% | |
| Current drawdowni | 4.64% | 6.04% | |
| Avg drawdowni | 6.70% | 5.92% | |
| Ulcer Indexi | 7.90% | 7.08% | |
| Max daily dropi | 1.73% | 1.76% | |
| Max wkly dropi | 4.04% | 4.13% | |
| 10Y | Growthi | -1.99% | +2.26% |
| CAGRi | -0.20% | +0.22% | |
| Volatilityi | 6.83% | 7.23% | |
| Sharpe ratioi | -0.65 | -0.56 | |
| Sortino ratioi | -0.91 | -0.78 | |
| Max drawdowni | 25.72% | 26.46% | |
| Current drawdowni | 9.30% | 9.10% | |
| Avg drawdowni | 10.03% | 10.43% | |
| Ulcer Indexi | 11.39% | 11.86% | |
| Max daily dropi | 2.36% | 2.06% | |
| Max wkly dropi | 5.33% | 4.54% |
| Category | UDN | FXE |
|---|---|---|
| Fund name | Invesco DB US Dollar Index Bearish Fund | Invesco CurrencyShares Euro Currency Trust |
| Type | ETF | ETF |
| Expense ratioi | 0.75% | 0.40% |
| Total assets (AUM)i | $102.99M | $329.84M |
| Dividend yieldi | 2.99% | 0.78% |
- Direct, liquid way to express a bearish dollar view without forex trading accounts
- Can benefit international-stock returns for US investors when the dollar weakens
- Useful as a portfolio hedge against a weakening dollar
- Physically-backed euro deposits avoid futures-roll costs entirely
- Simple, direct way to express a euro-strength view
- Useful as a hedge for European travel or spending plans
- Currency movements are notoriously difficult to predict and trade profitably
- Futures-based structure carries roll-cost considerations
- No income generation from the underlying currency futures
- Currency movements are notoriously difficult to predict and trade profitably
- No income generation beyond minimal deposit interest, largely offset by fees
- Single-currency concentration versus a basket-based dollar fund
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