Invesco DB US Dollar Index Bearish Fund filed its quarterly report on Form 10-Q for the period ended September 30, 2026, disclosing a net loss of $2,518,038 for the nine months ended on that date and a decline in total shareholders' equity from $138,580,444 at December 31, 2025 to $102,923,494.

Key Highlights

  • Shares outstanding fell to 5,750,000 at September 30, 2026, down from 7,600,000 at December 31, 2025.
  • Net asset value per share was $17.90 at September 30, 2026, compared with $18.23 at December 31, 2025.
  • Nine-month net loss was $2,518,038 for the period ended September 30, 2026, versus net income of $9,512,575 for the same period in 2025.
  • Total assets were $103,059,328 at September 30, 2026, down from $138,658,061 at December 31, 2025.
  • Short futures position consisted of 1,066 ICE U.S. Dollar Index contracts expiring December 2026, with a notional value of $(107,869,606) and unrealized depreciation of $(2,747,074).
  • Net investment income for the nine months ended September 30, 2026 was $2,720,596, compared with $2,918,509 for the same period in 2025.

Financial Results and Portfolio Position for the Quarter Ended September 30, 2026

According to the filing, Invesco DB US Dollar Index Bearish Fund (NYSE Arca:UDN) reported total assets of $103,059,328 as of September 30, 2026, a decrease from $138,658,061 at December 31, 2025. The fund's affiliated investments, held entirely in the Invesco Government and Agency Portfolio, Institutional Class, were valued at $100,431,387, representing 97.58% of shareholders' equity. The 7-day SEC standardized yield on that money market fund was reported as 3.81% as of September 30, 2026.

The filing disclosed a net loss of $2,518,038 for the nine months ended September 30, 2026, driven primarily by a net realized loss on currency futures contracts of $1,987,963 and a net change in unrealized loss on currency futures contracts of $3,250,671 over that period. For the three months ended September 30, 2026, the fund reported net income of $246,758, compared with a net loss of $745,604 in the three months ended September 30, 2025. Total expenses, net of waivers, were $632,590 for the nine-month period, up from $567,316 in the comparable 2025 period. Management fees waivers reduced gross management fees of $697,867 by $89,238 for the nine months ended September 30, 2026.

As of September 30, 2026, the fund held 1,066 short ICE U.S. Dollar Index futures contracts expiring in December 2026, with a notional value of $(107,869,606) and unrealized depreciation of $(2,747,074). At December 31, 2025, the fund held 1,412 short contracts expiring in March 2026, carrying unrealized appreciation of $503,597. Shares outstanding decreased to 5,750,000 from 7,600,000 at year-end 2025. The market value per share was $17.90 at September 30, 2026, compared with $18.25 at December 31, 2025.

What Was Disclosed

The fund filed its quarterly report covering the period ended September 30, 2026, disclosing balance sheet data, income and expense figures, changes in shareholders' equity, and the composition of its short U.S. dollar futures and money market holdings.