In 2018, Khovanov and Robert introduced a version of Khovanov homology over a larger ground ring, termed U(1)xU(1)-equivariant Khovanov homology. This theory was also studied extensively by Taketo Sano. Ross Akhmechet was able to construct an equivariant annular Khovanov homology theory using the U(1)xU(1)-equivariant theory, while the existence of a U(2)-equivariant annular construction is still unclear. Observing that the U(1)xU(1) complex admits two symmetric algebraic gradings, those familiar with knot Floer homology over the ring F[U,V] may naturally ask if these filtrations allow for algebraic constructions already seen in the knot Floer context, such as Ozsváth-Stipsicz-Szabó's Upsilon. In this talk, I will describe the construction and properties of such an invariant. I will also discuss some ideas on how future research might use the U(1)xU(1) framework to identify invariants similar to those constructed from knot Floer homology over F[U,V], and speculate on the topological information these constructions might illuminate. This is based on joint work with Ross Akhmechet.