AVDV vs. UGA

Last updated Jun 4, 2026

AVDV (Avantis International Small Cap Value ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. AVDV is actively managed, while UGA is passively managed. Over the past 5 years, AVDV returned 13.72%/yr vs 25.10%/yr for UGA. At a 0.24 correlation, their price movements are largely independent. AVDV charges 0.36%/yr vs 0.75%/yr for UGA.

Performance

AVDV vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Small Cap Value ETF (AVDV) 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, AVDV achieves a 16.04% return, which is significantly lower than UGA's 75.49% return.

AVDV

• 1D: -0.73%
• 1M: 3.98%
• YTD: 16.04%
• 6M: 19.54%
• 1Y: 44.23%
• 3Y*: 28.01%
• 5Y*: 13.72%
• 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%

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

AVDV vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
AVDV Avantis International Small Cap Value ETF	16.04%	49.37%	8.67%	16.85%	-11.47%	15.80%	5.01%	12.05%
UGA United States Gasoline Fund LP	75.49%	-2.00%	3.77%	1.27%	46.34%	68.49%	-24.88%	7.76%

Correlation

The correlation between AVDV and UGA is -0.24, 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	-0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019	0.24

The correlation between AVDV and UGA shifts across timeframes, from -0.24 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AVDV vs. UGA — Risk / Return Rank

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

AVDV

AVDV Risk / Return Rank: 78
AVDV Sharpe Ratio Rank: 85
AVDV Sortino Ratio Rank: 83
AVDV Omega Ratio Rank: 84
AVDV Calmar Ratio Rank: 66
AVDV Martin Ratio Rank: 72

UGA

UGA Risk / Return Rank: 69
UGA Sharpe Ratio Rank: 69
UGA Sortino Ratio Rank: 57
UGA Omega Ratio Rank: 60
UGA Calmar Ratio Rank: 89
UGA Martin Ratio Rank: 71

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.

AVDV vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Small Cap Value ETF (AVDV) 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.

	AVDV	UGA	Difference
Sharpe ratio Return per unit of total volatility	2.86	2.32	+0.54
Sortino ratio Return per unit of downside risk	3.79	2.75	+1.04
Omega ratio Gain probability vs. loss probability	1.52	1.37	+0.14
Calmar ratio Return relative to maximum drawdown	3.37	5.47	-2.10
Martin ratio Return relative to average drawdown	13.67	13.25	+0.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVDV vs. UGA - Sharpe Ratio Comparison

The current AVDV Sharpe Ratio is 2.86, which is comparable to the UGA Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of AVDV 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.

Sharpe Ratios by Period

	AVDV	UGA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.86	2.32	+0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.73	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.12	+0.68

Drawdowns

AVDV vs. UGA - Drawdown Comparison

The maximum AVDV drawdown since its inception was -43.01%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for AVDV and UGA.

Drawdown Indicators

	AVDV	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-43.01%	-86.59%	+43.58%
Max Drawdown (1Y) Largest decline over 1 year	-13.19%	-14.88%	+1.69%
Max Drawdown (3Y) Largest decline over 3 years	-14.17%	-26.68%	+12.51%
Max Drawdown (5Y) Largest decline over 5 years	-28.08%	-38.11%	+10.03%
Max Drawdown (10Y) Largest decline over 10 years	—	-75.89%	—
Current Drawdown Current decline from peak	-1.35%	-12.35%	+11.00%
Average Drawdown Average peak-to-trough decline	-6.77%	-36.76%	+29.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	6.13%	-2.89%

Volatility

AVDV vs. UGA - Volatility Comparison

The current volatility for Avantis International Small Cap Value ETF (AVDV) is 4.92%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that AVDV 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

	AVDV	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.92%	11.66%	-6.74%
Volatility (6M) Calculated over the trailing 6-month period	13.07%	30.41%	-17.34%
Volatility (1Y) Calculated over the trailing 1-year period	15.56%	35.14%	-19.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.30%	34.38%	-17.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.73%	37.27%	-17.54%

AVDV vs. UGA - Expense Ratio Comparison

AVDV has a 0.36% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

AVDV vs. UGA - Dividend Comparison

AVDV's dividend yield for the trailing twelve months is around 2.74%, while UGA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVDV Avantis International Small Cap Value ETF	2.74%	3.05%	4.31%	3.29%	3.17%	2.39%	1.67%	0.36%
UGA United States Gasoline Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVDV and UGA in my portfolio?

AVDV and UGA have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVDV or UGA?

UGA has higher volatility (11.66%) compared to AVDV (4.92%). In terms of maximum drawdown, AVDV dropped -43.01% vs UGA's -86.59%.

Which ETF is better, AVDV or UGA?

On 5-year performance, UGA leads with 25.10% vs 13.72% for AVDV. On fees, AVDV is cheaper at 0.36% per year. On volatility, AVDV has been the lower-risk option at 4.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVDV or UGA?

Over the 5-year period, UGA has performed better with a 25.10% return vs 13.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVDV or UGA?

AVDV is cheaper with a 0.36% expense ratio, compared with 0.75% for UGA.

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

AVDV has the higher dividend yield at 2.74%, compared with 0.00% for UGA.

What is the main difference between AVDV and UGA?

AVDV is categorized as Foreign Small & Mid Cap Equities, while UGA is Oil & Gas. They also come from different issuers: Avantis and Concierge Technologies. Their fees differ too: 0.36% for AVDV and 0.75% for UGA.

Which has better risk-adjusted returns?

AVDV currently has the higher Sharpe Ratio (2.86 vs 2.32), 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.