AGGS vs. UGA

Last updated Jun 23, 2026

AGGS (Harbor Disciplined Bond ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - AGGS is a Intermediate Core-Plus Bond fund actively managed by Harbor, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. AGGS is actively managed, while UGA is passively managed. Over the past year, AGGS returned 5.15% vs 52.27% for UGA. At a correlation of -0.27, they often move in opposite directions. AGGS charges 0.35%/yr vs 0.75%/yr for UGA.

Performance

AGGS vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Disciplined Bond ETF (AGGS) and United States Gasoline Fund LP (UGA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGGS achieves a 0.50% return, which is significantly lower than UGA's 65.95% return.

AGGS

• 1D: -0.22%
• 1M: 0.78%
• YTD: 0.50%
• 6M: 0.65%
• 1Y: 5.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UGA

• 1D: 0.15%
• 1M: -11.11%
• YTD: 65.95%
• 6M: 62.61%
• 1Y: 52.27%
• 3Y*: 19.40%
• 5Y*: 23.05%
• 10Y*: 14.44%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AGGS vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AGGS Harbor Disciplined Bond ETF	0.50%	7.40%	4.56%
UGA United States Gasoline Fund LP	65.95%	-2.00%	-7.86%

Correlation

The correlation between AGGS and UGA is -0.42, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.42
Correlation (All Time) Calculated using the full available price history since May 2, 2024	-0.27

The correlation between AGGS and UGA shifts across timeframes, from -0.42 (1 year) to -0.27 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AGGS vs. UGA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AGGS

AGGS Risk / Return Rank: 37
AGGS Sharpe Ratio Rank: 38
AGGS Sortino Ratio Rank: 39
AGGS Omega Ratio Rank: 37
AGGS Calmar Ratio Rank: 37
AGGS Martin Ratio Rank: 35

UGA

UGA Risk / Return Rank: 46
UGA Sharpe Ratio Rank: 44
UGA Sortino Ratio Rank: 40
UGA Omega Ratio Rank: 41
UGA Calmar Ratio Rank: 58
UGA Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AGGS vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Disciplined Bond ETF (AGGS) 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.

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.

	AGGS	UGA	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.49	-0.17
Sortino ratio: Return per unit of downside risk	1.95	2.00	-0.05
Omega ratio: Gain probability vs. loss probability	1.24	1.26	-0.02
Calmar ratio: Return relative to maximum drawdown	1.82	2.77	-0.95
Martin ratio: Return relative to average drawdown	5.16	8.29	-3.13

AGGS vs. UGA - Sharpe Ratio Comparison

The current AGGS Sharpe Ratio is 1.32, which is comparable to the UGA Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of AGGS and UGA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AGGS vs. UGA - Drawdown Comparison

The maximum AGGS drawdown since its inception was -4.66%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for AGGS and UGA.

Drawdown Indicators

	AGGS	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-4.66%	-86.59%	+81.93%
Max Drawdown (1Y) Largest decline over 1 year	-2.84%	-18.96%	+16.12%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.68%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.89%	—
Current Drawdown Current decline from peak	-1.27%	-17.12%	+15.85%
Average Drawdown Average peak-to-trough decline	-1.18%	-36.70%	+35.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	7.05%	-6.05%

Volatility

AGGS vs. UGA - Volatility Comparison

The current volatility for Harbor Disciplined Bond ETF (AGGS) is 0.88%, while United States Gasoline Fund LP (UGA) has a volatility of 9.26%. This indicates that AGGS 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.

Volatility by Period

	AGGS	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	9.26%	-8.38%
Volatility (6M) Calculated over the trailing 6-month period	2.73%	30.54%	-27.81%
Volatility (1Y) Calculated over the trailing 1-year period	3.92%	35.27%	-31.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.65%	34.45%	-29.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.65%	37.25%	-32.60%

AGGS vs. UGA - Expense Ratio Comparison

AGGS has a 0.35% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

AGGS vs. UGA - Dividend Comparison

AGGS's dividend yield for the trailing twelve months is around 5.20%, while UGA has not paid dividends to shareholders.

Position	TTM	2025	2024
AGGS Harbor Disciplined Bond ETF	5.20%	5.43%	3.38%
UGA United States Gasoline Fund LP	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AGGS and UGA in my portfolio?

AGGS and UGA have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGGS or UGA?

UGA has higher volatility (9.26%) compared to AGGS (0.88%). In terms of maximum drawdown, AGGS dropped -4.66% vs UGA's -86.59%.

Which ETF is better, AGGS or UGA?

On 1-year performance, UGA leads with 52.27% vs 5.15% for AGGS. On fees, AGGS is cheaper at 0.35% per year. On volatility, AGGS has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AGGS or UGA?

Over the 1-year period, UGA has performed better with a 52.27% return vs 5.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AGGS or UGA?

AGGS is cheaper with a 0.35% expense ratio, compared with 0.75% for UGA.

Which ETF pays a higher dividend yield, AGGS or UGA?

AGGS has the higher dividend yield at 5.20%, compared with 0.00% for UGA.

What is the main difference between AGGS and UGA?

AGGS is categorized as Intermediate Core-Plus Bond, while UGA is Oil & Gas. They also come from different issuers: Harbor and Concierge Technologies. Their fees differ too: 0.35% for AGGS and 0.75% for UGA.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (1.49 vs 1.32), 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.