- ISIN
- US91201T1025
- CUSIP
- 91201T102
- Issuer
- Concierge Technologies
- Inception Date
- Feb 26, 2008
- Category
- Oil & Gas
- Leveraged
- 1x (No leverage)
- Index Tracked
- Front Month Unleaded Gasoline
- Distribution Policy
- Accumulating
- Asset Class
- Commodity
- Assets Under Management
- $119M
Share Price Chart
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Performance
UGA Performance Chart
United States Gasoline Fund LP (UGA) is up 71.8% since the beginning of the year. UGA is currently trading at $106 per share. Investors who bought $1,000 worth of UGA shares 5 years ago would now be looking at an investment worth $2,899.
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Returns By Period
United States Gasoline Fund LP (UGA) has returned 71.80% so far this year and 66.14% over the past 12 months. Looking at the last ten years, UGA has achieved an annualized return of 15.78%, outperforming the S&P 500 Index benchmark, which averaged 13.41% per year.
United States Gasoline Fund LP
- 1D
- -1.13%
- 1M
- 0.87%
- 6M
- 65.75%
- YTD
- 71.80%
- 1Y
- 66.14%
- 3Y*
- 17.96%
- 5Y*
- 23.72%
- 10Y*
- 15.78%
Benchmark (S&P 500 Index)
- 1D
- 0.42%
- 1M
- 1.94%
- 6M
- 8.74%
- YTD
- 10.66%
- 1Y
- 21.02%
- 3Y*
- 19.50%
- 5Y*
- 11.63%
- 10Y*
- 13.41%
UGA Monthly Returns History
Based on dividend-adjusted daily data since Feb 28, 2008, UGA's average daily return is +0.04%, while the average monthly return is +0.96%. At this rate, an investment would double in approximately 6.0 years.
Historically, 57% of months were positive and 43% were negative. The best month was Mar 2026 with a return of +41.8%, while the worst month was Mar 2020 at -60.8%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 8 months.
On a daily basis, UGA closed higher 52% of trading days. The best single day was Mar 25, 2020 with a return of +19.7%, while the worst single day was Mar 16, 2020 at -22.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 12.38% | 5.06% | 41.79% | 16.19% | -12.38% | -2.13% | 2.99% | 71.80% | |||||
| 2025 | 1.59% | -2.32% | 2.79% | -11.40% | 2.16% | 3.55% | 6.93% | -1.27% | 1.44% | 1.69% | 2.08% | -7.78% | -2.00% |
| 2024 | 4.83% | 4.90% | 6.26% | 0.08% | -8.86% | 4.48% | -0.30% | -7.63% | -6.15% | 5.89% | -2.55% | 4.48% | 3.77% |
| 2023 | 3.15% | -4.98% | 3.47% | -4.00% | -0.99% | 8.45% | 17.03% | -3.96% | -3.94% | -6.79% | -1.49% | -2.30% | 1.27% |
| 2022 | 15.16% | 9.65% | 7.68% | 10.09% | 19.62% | -7.53% | -8.23% | -15.07% | -0.21% | 13.21% | -3.55% | 4.06% | 46.34% |
| 2021 | 10.24% | 16.79% | 0.67% | 5.11% | 3.68% | 4.43% | 4.49% | -2.43% | 4.98% | 10.66% | -15.30% | 13.87% | 68.49% |
Benchmark Metrics
United States Gasoline Fund LP has an annualized alpha of 3.51%, beta of 0.65, and R2 of 0.13 versus S&P 500 Index. Calculated based on daily prices since February 28, 2008.
- This ETF participated in 116.25% of S&P 500 Index downside but only 93.57% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.65 may look defensive, but with R2 of 0.13 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.13 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.51%
- Beta
- 0.65
- R²
- 0.13
- Upside Capture
- 93.57%
- Downside Capture
- 116.25%
Expense Ratio
UGA has an expense ratio of 0.75%, placing it in the medium range.
Return for Risk
Risk / Return Rank
UGA ranks 72 for risk / return — better than 72% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for United States Gasoline Fund LP (UGA) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| UGA | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.30 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 2.28 | +1.14 |
| Martin ratioReturn relative to average drawdown | 9.53 | 9.88 | -0.35 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the United States Gasoline Fund LP. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the United States Gasoline Fund LP was 86.59%, occurring on Mar 24, 2020. Recovery took 535 trading sessions.
The current United States Gasoline Fund LP drawdown is 14.20%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -86.59%Mar 2020 | 11y 8mo | 2y 1mo | 13y 10moJul 2008 - May 2022 |
Bear market2022 | -38.11%Dec 2022 | 6mo 5d | 3y 2mo | 3y 9moJun 2022 - Mar 2026 |
2026 bear market2026 | -20.32%Jun 2026 | 1mo 20d | — | 2mo 9dMay 2026 - now |
2026 pullback2026 | -9.59%Mar 2026 | 0s | 7d | 7dMar 2026 - Mar 2026 |
2026 pullback2026 | -8.87%Apr 2026 | 10d | 5d | 15dApr 2026 - Apr 2026 |
Drawdown Indicators
| UGA | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.59% | -56.78% | -29.81% |
Max Drawdown (1Y)Largest decline over 1 year | -20.32% | -9.10% | -11.22% |
Max Drawdown (3Y)Largest decline over 3 years | -26.68% | -18.90% | -7.78% |
Max Drawdown (5Y)Largest decline over 5 years | -38.11% | -25.43% | -12.68% |
Max Drawdown (10Y)Largest decline over 10 years | -75.89% | -33.92% | -41.97% |
Current DrawdownCurrent decline from peak | -14.20% | -0.45% | -13.75% |
Average DrawdownAverage peak-to-trough decline | -36.64% | -10.71% | -25.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.26% | 2.09% | +5.17% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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