Invesco DB US Dollar Index Bearish Fund (UDN) ETF Holdings & Analysis

What UDN does

The Invesco DB US Dollar Index Bearish Fund (UDN) is designed to provide investors with exposure to the inverse performance of the U.S. dollar against a basket of key global currencies. Specifically, it aims to track the Deutsche Bank Short USD Currency Portfolio Index – Excess Return, while also incorporating net interest income generated from its holdings, primarily U.S. Treasury securities and money market instruments, after accounting for fund expenses. This Fund offers a streamlined and economical method for investors seeking to benefit from a decline in the U.S. dollar's value relative to six major world currencies: the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. The underlying Index follows a rules-based approach, comprising exclusively "short" U.S. Dollar Index futures contracts, which are actively traded on the ICE futures exchange. These USDX futures are engineered to replicate the financial outcome of holding a short position in the U.S. dollar against the aforementioned basket of international currencies. It is crucial to understand that this Fund may not be appropriate for all investors. Its investment strategy involves speculative trading in inherently volatile futures markets. The frequent and significant price fluctuations characteristic of futures contracts could lead to substantial financial losses. For a comprehensive understanding of the risks involved, investors are strongly advised to consult the "Risk and Other Information" section and the Fund's Prospectus. For information regarding the Fund's qualified notices concerning IRS Section 1446(f) Rule for Publicly Traded Partnerships (PTPs), please visit our dedicated ETF tax center. Additionally, the Form 1065 Schedule K-3 FAQ for Invesco DB Funds (under the Securities Act of 1933) is available on the same platform.

Fund profile

Top holdings

Geographic allocation

PortView Portfolio Insights

PortView analyzes how UDN fits your actual portfolio — position weight, ETF overlap with your other funds, sector and geographic exposure, concentration, and how this fund contributes to your portfolio risk and return. Connect a portfolio to see your personalized figures; PortView never shows another user's private holdings.

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Frequently asked questions

What does UDN track?

UDN is the Invesco DB US Dollar Index Bearish Fund, a Other ETF.

What is the expense ratio of UDN?

Expense ratio data for UDN is shown on the page when available from our data provider.

What are the largest holdings in UDN?

Top holdings include AGPXX, CASH COLLATERAL, USD Pending Dividends.

How can PortView analyze UDN overlap with other ETFs?

PortView computes the holdings overlap between UDN and the other ETFs and stocks you own, plus your combined sector and geographic exposure, so you can see true diversification.