Every 10-Q that Invesco DB US Dollar Index Bearish Fund (UDN) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow UDN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full UDN filings page.
Invesco DB US Dollar Index Bearish Fund seeks to track the Deutsche Bank Short USD Currency Portfolio Index–Excess through short ICE U.S. Dollar Index futures, collateralized mainly by an affiliated government money market fund.
For the six months ended June 30, 2026, it reported a net loss of $2,764,796, driven by $4,699,955 in combined realized and unrealized losses on currency futures as the U.S. dollar strengthened, partly offset by $1,935,159 of net investment income. Net asset value per share declined to $17.86 from $18.23 at December 31, 2025, and shareholders’ equity decreased to $107,178,163, with shares outstanding falling to 6,000,000 after net redemptions. At quarter-end the fund held 1,093 short ICE U.S. Dollar Index contracts with notional value of $(110,346,001) and an unrealized loss of $(1,448,647), alongside $109,866,542 in the Invesco Government & Agency Portfolio. The annualized expense ratio after waivers was 0.68%, while net investment income equated to an annualized 2.91% of average net assets.
Invesco DB US Dollar Index Bearish Fund reported a net loss of $2.3 million for the three months ended March 31, 2026, compared with a profit a year earlier. Net asset value per share slipped from $18.23 to $18.00, a total return of -1.26% at both NAV and market price.
The loss was driven by $3.35 million of realized and unrealized losses on short currency futures linked to the ICE U.S. Dollar Index, partially offset by $1.25 million of interest and dividend income, mainly from affiliated money market funds. Total assets rose to $143.2 million, with 7,950,000 shares outstanding as new creations exceeded redemptions.
The fund continued to invest almost all equity in an affiliated government money market portfolio and maintained a large short futures position with notional exposure of about $142.1 million. A one-day 99% Value at Risk measure was about $1.23 million, highlighting sensitivity to moves in the U.S. dollar versus the underlying currencies.
Invesco DB US Dollar Index Bearish Fund (UDN) reported higher scale and stable per‑share metrics for the quarter ended September 30, 2025. Total assets were $156,165,275, with 8,300,000 shares outstanding. Net asset value per share was $18.80 and market value per share was $18.81.
The Fund recorded a Q3 net loss of $745,604, driven by an unrealized loss on currency futures, partially offset by investment income. For the nine months, net income was $9,512,575. Open short ICE U.S. Dollar Index futures totaled 1,611 December 2025 contracts with notional of ($156,993,561) and unrealized depreciation of $257,858.
Flows expanded the share base, with a Q3 net increase of 450,000 shares and 5,250,000 year‑to‑date. Affiliated money market holdings were $147,233,056 at quarter‑end. Management fee waivers were $35,515 for Q3 and $74,444 year‑to‑date. Expense ratio after waivers was 0.69% for the nine‑month period; total return at NAV for the nine months was 12.37%.