AOTG vs. UGA

Last updated Jun 24, 2026

AOTG (AOT Growth and Innovation ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - AOTG is a Technology Equities fund actively managed by AOT, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. AOTG is actively managed, while UGA is passively managed. Over the past 3 years, AOTG returned 26.75%/yr vs 18.95%/yr for UGA. At a 0.04 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.

Performance

AOTG vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AOT Growth and Innovation ETF (AOTG) 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, AOTG achieves a 10.85% return, which is significantly lower than UGA's 64.09% return.

AOTG

• 1D: -3.99%
• 1M: 3.36%
• YTD: 10.85%
• 6M: 9.11%
• 1Y: 31.87%
• 3Y*: 26.75%
• 5Y*: —
• 10Y*: —

UGA

• 1D: -1.12%
• 1M: -12.11%
• YTD: 64.09%
• 6M: 60.42%
• 1Y: 59.74%
• 3Y*: 18.95%
• 5Y*: 22.69%
• 10Y*: 14.31%

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

AOTG vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AOTG AOT Growth and Innovation ETF	10.85%	25.26%	32.20%	54.58%	-11.14%
UGA United States Gasoline Fund LP	64.09%	-2.00%	3.77%	1.27%	-17.96%

Correlation

The correlation between AOTG and UGA is -0.17, 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	-0.17
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022	0.04

The correlation between AOTG and UGA shifts across timeframes, from -0.17 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AOTG vs. UGA — Risk / Return Rank

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

AOTG

AOTG Risk / Return Rank: 33
AOTG Sharpe Ratio Rank: 36
AOTG Sortino Ratio Rank: 33
AOTG Omega Ratio Rank: 35
AOTG Calmar Ratio Rank: 29
AOTG Martin Ratio Rank: 29

UGA

UGA Risk / Return Rank: 55
UGA Sharpe Ratio Rank: 53
UGA Sortino Ratio Rank: 48
UGA Omega Ratio Rank: 49
UGA Calmar Ratio Rank: 67
UGA Martin Ratio Rank: 56

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.

AOTG vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AOT Growth and Innovation ETF (AOTG) 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.

	AOTG	UGA	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.73	-0.49
Sortino ratio: Return per unit of downside risk	1.71	2.25	-0.54
Omega ratio: Gain probability vs. loss probability	1.22	1.30	-0.07
Calmar ratio: Return relative to maximum drawdown	1.40	3.17	-1.76
Martin ratio: Return relative to average drawdown	3.96	9.39	-5.43

AOTG vs. UGA - Sharpe Ratio Comparison

The current AOTG Sharpe Ratio is 1.24, which is comparable to the UGA Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of AOTG 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

AOTG vs. UGA - Drawdown Comparison

The maximum AOTG drawdown since its inception was -31.63%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for AOTG and UGA.

Drawdown Indicators

	AOTG	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-31.63%	-86.59%	+54.96%
Max Drawdown (1Y) Largest decline over 1 year	-22.85%	-18.96%	-3.89%
Max Drawdown (3Y) Largest decline over 3 years	-27.41%	-26.68%	-0.73%
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	-7.25%	-18.05%	+10.80%
Average Drawdown Average peak-to-trough decline	-7.86%	-36.69%	+28.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.07%	6.43%	+1.64%

Volatility

AOTG vs. UGA - Volatility Comparison

AOT Growth and Innovation ETF (AOTG) has a higher volatility of 12.24% compared to United States Gasoline Fund LP (UGA) at 9.24%. This indicates that AOTG's price experiences larger fluctuations and is considered to be riskier than UGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AOTG	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.24%	9.24%	+3.00%
Volatility (6M) Calculated over the trailing 6-month period	21.22%	30.57%	-9.35%
Volatility (1Y) Calculated over the trailing 1-year period	25.89%	35.22%	-9.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.56%	34.45%	-4.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.56%	37.22%	-7.66%

AOTG vs. UGA - Expense Ratio Comparison

Both AOTG and UGA have an expense ratio of 0.75%.

Dividends

AOTG vs. UGA - Dividend Comparison

Neither AOTG nor UGA has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AOTG and UGA in my portfolio?

AOTG and UGA have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AOTG or UGA?

AOTG has higher volatility (12.24%) compared to UGA (9.24%). In terms of maximum drawdown, AOTG dropped -31.63% vs UGA's -86.59%.

Which ETF is better, AOTG or UGA?

On 3-year performance, AOTG leads with 26.75% vs 18.95% for UGA. Both ETFs have the same 0.75% expense ratio. On volatility, UGA has been the lower-risk option at 9.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AOTG or UGA?

Over the 3-year period, AOTG has performed better with a 26.75% return vs 18.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AOTG or UGA?

AOTG and UGA have the same expense ratio: 0.75% per year.

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

AOTG and UGA have nearly identical dividend yields, around 0.00%.

What is the main difference between AOTG and UGA?

AOTG is categorized as Technology Equities, while UGA is Oil & Gas. They also come from different issuers: AOT and Concierge Technologies.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (1.73 vs 1.24), 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.