Up nearly 4% year-to-date, the PowerShares DB U.S. Dollar Index Bullish Fund (NYSEArca: UUP) is now one of this year’s top currency exchange traded funds. With the greenback residing near multi-year highs, UUP just keeps grinding higher.

UUP tracks the price movement of the U.S. dollar against a basket of currencies, including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc. A higher interest rate typically supports the U.S. dollar since the currency becomes more attractive to foreign-seeking investors and diminishes the supply of money sloshing around in the markets. Importantly, UUP could still offer investors significant upside even after its recent sharp rally.

A higher interest rate typically supports the U.S. dollar since the currency becomes more attractive to foreign-seeking investors and diminishes the supply of money sloshing around in the markets. After raising rates for the first time this year earlier in December, the Federal Reserve is targeting as many as three rate hikes in 2017.

“The greenback has been in a pronounced uptrend since August, gaining nearly 10% over that period. The dollar’s march upward has been especially pronounced since last month’s U.S. presidential election, with optimism over the policies President-elect Donald Trump is expected to support sparking a rally that has taken the buck to levels last seen in 2002,” reports MarketWatch.