(UDN) DB US Dollar Index Bearish - Overview
Etf: Inverse Dollar, Short Futures, Currency Basket, Euro, Yen, Pound
Dividends
| Dividend Yield | 2.94% |
| Yield on Cost 5y | 2.86% |
| Yield CAGR 5y | 61.18% |
| Payout Consistency | 27.5% |
| Payout Ratio | - |
| Risk 5d forecast | |
|---|---|
| Volatility | 7.55% |
| Relative Tail Risk | -8.09% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.00 |
| Alpha | 8.44 |
| Character TTM | |
|---|---|
| Beta | -0.062 |
| Beta Downside | -0.199 |
| Drawdowns 3y | |
|---|---|
| Max DD | 8.59% |
| CAGR/Max DD | 0.50 |
Description: UDN DB US Dollar Index Bearish January 18, 2026
The Invesco DB US Dollar Index Bearish Fund (NYSE ARCA: UDN) aims to replicate the performance of an index that measures the value of a short position in the CME DX futures contract, which settles quarterly (March, June, September, December). The index tracks the inverse movement of the U.S. Dollar Index (USDX®), which is weighted across six major currencies: the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc.
Key quantitative points for UDN (as of the most recent filing):
• Expense ratio ≈ 0.78% (annual), reflecting the cost of rolling short DX contracts.
• Average daily trading volume ≈ 200,000 shares, providing moderate liquidity for intraday positions.
• 30-day implied volatility of the underlying DX futures has hovered around 12-14%, indicating the level of market uncertainty around U.S. monetary policy.
Macro drivers that most directly affect the fund’s performance include Federal Reserve interest-rate decisions, U.S. inflation readings (CPI/PCE), and relative strength of the index currencies, especially the euro and yen, which tend to move inversely to the dollar during risk-off episodes.
For a deeper dive into UDN’s risk-adjusted returns and how its short-USD exposure fits into broader macro strategies, you might explore the analytics on ValueRay.
What is the price of UDN shares?
Over the past week, the price has changed by -0.49%, over one month by +1.04%, over three months by +2.62% and over the past year by +11.96%.
Is UDN a buy, sell or hold?
What are the forecasts/targets for the UDN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 19.6 | 6.4% |
UDN Fundamental Data Overview February 03, 2026
EBIT TTM = 0.0 USD
EBITDA TTM = 0.0 USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = unknown
Enterprise Value = 126.8m USD (126.8m + (null Debt) - (null CCE))
Interest Coverage Ratio = unknown (Ebit TTM 0.0 / Interest Expense TTM 0.0)
EV/FCF = unknown (FCF TTM 0.0)
FCF Yield = 0.0% (FCF TTM 0.0 / Enterprise Value 126.8m)
FCF Margin = unknown (Revenue TTM is 0 or missing)
Net Margin = unknown
Gross Margin = unknown ((Revenue TTM 0.0 - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = unknown (Enterprise Value 126.8m / Total Assets none)
Interest Expense / Debt = unknown (Interest Expense 0.0 / Debt none)
Taxrate = 21.0% (US default 21%)
NOPAT = 0.0 (EBIT 0.0 * (1 - 21.00%))
Current Ratio = unknown (Total Current Assets none / Total Current Liabilities none)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 0.0)
Debt / FCF = unknown (Net Debt none / FCF TTM 0.0)
Total Stockholder Equity = 0.0 (from calculated bookValueOfEquity)
RoA = unknown (Net Income 0.0 / Total Assets none)
RoE = unknown (Net Income TTM 0.0 / Total Stockholder Equity 0.0)
RoCE = unknown (EBIT 0.0 / Capital Employed )
RoIC = unknown (NOPAT 0.0, Invested Capital 0.0, EBIT 0.0)
WACC = 5.69% (E(126.8m)/V(126.8m) * Re(5.69%) + (debt-free company))
Discount Rate = 5.69% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Fair Price DCF = unknown (Cash Flow 0.0)