AZTD vs. UGA
AZTD (Aztlan Global Stock Selection Dm SMID ETF) and UGA (United States Gasoline Fund, LP) are both exchange-traded funds - AZTD is a Global Equities fund tracking the Solactive Aztlan Global Developed Markets SMID Cap Index - Benchmark TR Gross, while UGA is a Oil & Gas fund tracking the Near-Month NYMEX RBOB Gasoline Futures Contract. Both are passively managed. Over the past 3 years, AZTD returned 17.02%/yr vs 15.08%/yr for UGA. Their 0.02 correlation means their historical movements had little consistent relationship. AZTD charges 0.75%/yr vs 1.02%/yr for UGA.
Performance
AZTD vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, AZTD achieves a 16.64% return, which is significantly lower than UGA's 73.74% return.
AZTD
- 1D
- 1.38%
- 1M
- 0.44%
- 6M
- 11.04%
- YTD
- 16.64%
- 1Y
- 20.83%
- 3Y*
- 17.02%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.25%
UGA
- 1D
- -4.00%
- 1M
- 4.18%
- 6M
- 57.40%
- YTD
- 73.74%
- 1Y
- 71.86%
- 3Y*
- 15.08%
- 5Y*
- 23.69%
- 10Y*
- 16.34%
- ALL TIME*
- 4.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $217.95K | $145.08K | $54.87K | |
| $8.76M | $6.07M | $5.03M |
AZTD vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AZTD Aztlan Global Stock Selection Dm SMID ETF | 16.64% | 25.46% | 6.87% | 10.34% | -1.79% |
UGA United States Gasoline Fund, LP | 73.74% | -2.00% | 3.77% | 1.27% | 1.99% |
Correlation
The correlation between AZTD and UGA is -0.26, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.26 |
Correlation (3Y) Balances recent behavior with more history. | -0.07 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2022 | 0.02 |
The correlation between AZTD and UGA shifts across timeframes, from -0.26 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AZTD vs. UGA — Risk / Return Rank
AZTD
UGA
AZTD vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aztlan Global Stock Selection Dm SMID ETF (AZTD) 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.
| AZTD | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.32 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 3.56 | -1.69 |
| Martin ratioReturn relative to average drawdown | 5.96 | 9.88 | -3.92 |
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Drawdowns
AZTD vs. UGA - Drawdown Comparison
The maximum AZTD drawdown since its inception was -16.75%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for AZTD and UGA.
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Drawdown Indicators
| AZTD | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.75% | -86.59% | +69.84% |
Max Drawdown (1Y)Largest decline over 1 year | -11.19% | -20.32% | +9.13% |
Max Drawdown (3Y)Largest decline over 3 years | -16.75% | -26.68% | +9.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -0.91% | -14.19% | +13.28% |
Average DrawdownAverage peak-to-trough decline | -3.81% | -36.52% | +32.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 7.30% | -3.80% |
Volatility
AZTD vs. UGA - Volatility Comparison
The current volatility for Aztlan Global Stock Selection Dm SMID ETF (AZTD) is 4.25%, while United States Gasoline Fund, LP (UGA) has a volatility of 13.00%. This indicates that AZTD 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
| AZTD | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.25% | 13.00% | -8.75% |
Volatility (6M)Calculated over the trailing 6-month period | 13.62% | 32.31% | -18.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.58% | 36.60% | -19.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.44% | 34.73% | -16.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.44% | 37.32% | -18.88% |
AZTD vs. UGA - Expense Ratio Comparison
AZTD has a 0.75% expense ratio, which is lower than UGA's 1.02% expense ratio.
Dividends
AZTD vs. UGA - Dividend Comparison
AZTD's dividend yield for the trailing twelve months is around 0.90%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AZTD Aztlan Global Stock Selection Dm SMID ETF | 0.90% | 1.05% | 1.87% | 0.12% |
UGA United States Gasoline Fund, LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AZTD and UGA have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (13.00%) compared to AZTD (4.25%). In terms of maximum drawdown, AZTD dropped -16.75% vs UGA's -86.59%.
On 3-year performance, AZTD leads with 17.02% vs 15.08% for UGA. On fees, AZTD is cheaper at 0.75% per year. On volatility, AZTD has been the lower-risk option at 4.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AZTD has performed better with a 17.02% return vs 15.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AZTD is cheaper with a 0.75% expense ratio, compared with 1.02% for UGA.
AZTD has the higher dividend yield at 0.90%, compared with 0.00% for UGA.
AZTD is categorized as Global Equities, while UGA is Oil & Gas. AZTD tracks Solactive Aztlan Global Developed Markets SMID Cap Index - Benchmark TR Gross, while UGA tracks Near-Month NYMEX RBOB Gasoline Futures Contract. They also come from different issuers: Aztlan and USCF. Their fees differ too: 0.75% for AZTD and 1.02% for UGA.
UGA currently has the higher Sharpe Ratio (1.97 vs 1.20), 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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