# Invesco DB US Dollar Index Bearish Fund (UDN): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/udn for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Invesco · Asset class: Alternatives - Strategy: Thematic · Inception: 2007-02-20 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 relativ... ## Key Facts | Metric | Value | |---|---| | Price | $17.81 | | Expense Ratio | 0.77% | | Assets Under Management | $95.5M | | NAV | $17.85 | | Holdings Count | 2 | | Distribution Yield (TTM) | 3.01% | | Annual Distribution (TTM) | $0.54 /share | | Distribution Frequency | Special | | 52-Week Range | $17.64 – $18.85 | | Beta | 0.22 | ## Latest Distribution - Amount: $0.5355 /share - Ex-date: 2025-12-22 - Pay date: 2025-12-26 ## Frequently Asked Questions ### What does UDN invest in? 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. ### What is the expense ratio of UDN? Invesco DB US Dollar Index Bearish Fund (UDN) charges an expense ratio of 0.77%. This is the annual fee deducted from fund assets to cover management and operations. ### What is UDN's dividend yield? UDN's trailing-twelve-month yield is 3.01%, calculated from the sum of dividends over the past year divided by the current price. ### What is the duration of UDN? Effective duration measures UDN's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. UDN's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of UDN? UDN's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of UDN? Yield to maturity (YTM) is the total return you'd earn from UDN if every bond in the portfolio is held to maturity at the current price. UDN's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### Does UDN pay a dividend? Yes, Invesco DB US Dollar Index Bearish Fund (UDN) distributes dividends to shareholders. The trailing-twelve-month yield is 3.01%. Full dividend history is on this page. ### How often does UDN pay dividends? Invesco DB US Dollar Index Bearish Fund pays dividends Special. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is UDN's next ex-dividend date? The most recently announced ex-dividend date for UDN was 2025-12-22. The next ex-date typically follows Special; once announced it appears at the top of the dividend history table on this page. ### How much will UDN's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.77% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does UDN charge its expense ratio? The expense ratio is deducted in tiny daily slices from UDN's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does UDN cost more than a fund like VOO? UDN's strategy (current expense ratio 0.77%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where UDN sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to UDN? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as UDN (0.77%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/udn - Distribution history: https://www.dividenddata.com/funds/udn/dividend - Holdings & diversification: https://www.dividenddata.com/funds/udn/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/udn/expenses - Peer comparison: https://www.dividenddata.com/funds/udn/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.