ABEQ vs. UGA
ABEQ (Absolute Select Value ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - ABEQ is a Large Cap Value Equities fund actively managed by Absolute Investment Advisers LLC, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. ABEQ is actively managed, while UGA is passively managed. Over the past 5 years, ABEQ returned 7.06%/yr vs 25.10%/yr for UGA. At a 0.23 correlation, their price movements are largely independent. ABEQ charges 0.85%/yr vs 0.75%/yr for UGA.
Performance
ABEQ vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, ABEQ achieves a 3.44% return, which is significantly lower than UGA's 75.49% return.
ABEQ
- 1D
- -0.17%
- 1M
- -0.34%
- YTD
- 3.44%
- 6M
- 3.43%
- 1Y
- 8.87%
- 3Y*
- 11.57%
- 5Y*
- 7.06%
- 10Y*
- —
UGA
- 1D
- -0.19%
- 1M
- -12.35%
- YTD
- 75.49%
- 6M
- 64.35%
- 1Y
- 80.94%
- 3Y*
- 22.21%
- 5Y*
- 25.10%
- 10Y*
- 14.43%
ABEQ vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ABEQ Absolute Select Value ETF | 3.44% | 15.32% | 12.68% | 4.63% | -1.00% | 12.49% | 2.51% |
UGA United States Gasoline Fund LP | 75.49% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -19.55% |
Correlation
The correlation between ABEQ and UGA is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jan 23, 2020 | 0.23 |
The correlation between ABEQ and UGA shifts across timeframes, from -0.09 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ABEQ vs. UGA — Risk / Return Rank
ABEQ
UGA
ABEQ vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Absolute Select Value ETF (ABEQ) and United States Gasoline Fund LP (UGA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| ABEQ | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.37 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 5.47 | -4.34 |
| Martin ratioReturn relative to average drawdown | 2.78 | 13.25 | -10.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ABEQ | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 2.32 | -1.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.73 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.12 | +0.44 |
Drawdowns
ABEQ vs. UGA - Drawdown Comparison
The maximum ABEQ drawdown since its inception was -27.82%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for ABEQ and UGA.
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Drawdown Indicators
| ABEQ | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.82% | -86.59% | +58.77% |
Max Drawdown (1Y)Largest decline over 1 year | -7.89% | -14.88% | +6.99% |
Max Drawdown (3Y)Largest decline over 3 years | -7.95% | -26.68% | +18.73% |
Max Drawdown (5Y)Largest decline over 5 years | -17.26% | -38.11% | +20.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -7.43% | -12.35% | +4.92% |
Average DrawdownAverage peak-to-trough decline | -4.07% | -36.76% | +32.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 6.13% | -2.93% |
Volatility
ABEQ vs. UGA - Volatility Comparison
The current volatility for Absolute Select Value ETF (ABEQ) is 1.98%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that ABEQ experiences smaller price fluctuations and is considered to be less risky than UGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ABEQ | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 11.66% | -9.68% |
Volatility (6M)Calculated over the trailing 6-month period | 6.69% | 30.41% | -23.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.91% | 35.14% | -26.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.81% | 34.38% | -23.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.84% | 37.27% | -23.43% |
ABEQ vs. UGA - Expense Ratio Comparison
ABEQ has a 0.85% expense ratio, which is higher than UGA's 0.75% expense ratio.
Dividends
ABEQ vs. UGA - Dividend Comparison
ABEQ's dividend yield for the trailing twelve months is around 1.21%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
ABEQ Absolute Select Value ETF | 1.21% | 1.25% | 1.48% | 2.60% | 1.20% | 0.60% | 0.60% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ABEQ and UGA have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.66%) compared to ABEQ (1.98%). In terms of maximum drawdown, ABEQ dropped -27.82% vs UGA's -86.59%.
On 5-year performance, UGA leads with 25.10% vs 7.06% for ABEQ. On fees, UGA is cheaper at 0.75% per year. On volatility, ABEQ has been the lower-risk option at 1.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UGA has performed better with a 25.10% return vs 7.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UGA is cheaper with a 0.75% expense ratio, compared with 0.85% for ABEQ.
ABEQ has the higher dividend yield at 1.21%, compared with 0.00% for UGA.
ABEQ is categorized as Large Cap Value Equities, while UGA is Oil & Gas. They also come from different issuers: Absolute Investment Advisers LLC and Concierge Technologies. Their fees differ too: 0.85% for ABEQ and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.32 vs 1.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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