BBCA vs. UGA
BBCA (JPMorgan BetaBuilders Canada ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - BBCA is a Canada Equities fund tracking the Morningstar Canada Target Market Exposure Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 5 years, BBCA returned 11.39%/yr vs 25.10%/yr for UGA. At a 0.30 correlation, their price movements are largely independent. BBCA charges 0.19%/yr vs 0.75%/yr for UGA.
Performance
BBCA vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, BBCA achieves a 8.72% return, which is significantly lower than UGA's 75.49% return.
BBCA
- 1D
- -1.27%
- 1M
- 1.57%
- YTD
- 8.72%
- 6M
- 12.76%
- 1Y
- 29.69%
- 3Y*
- 21.63%
- 5Y*
- 11.39%
- 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%
BBCA vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BBCA JPMorgan BetaBuilders Canada ETF | 8.72% | 34.40% | 12.79% | 14.92% | -12.53% | 28.16% | 6.20% | 28.93% | -15.39% |
UGA United States Gasoline Fund LP | 75.49% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -30.58% |
Correlation
The correlation between BBCA and UGA is -0.18, 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 | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2018 | 0.30 |
The correlation between BBCA and UGA shifts across timeframes, from -0.18 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BBCA vs. UGA — Risk / Return Rank
BBCA
UGA
BBCA vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Canada ETF (BBCA) 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.
| BBCA | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.37 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.54 | 5.47 | -1.93 |
| Martin ratioReturn relative to average drawdown | 14.56 | 13.25 | +1.31 |
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
| BBCA | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.21 | 2.32 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.73 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.12 | +0.49 |
Drawdowns
BBCA vs. UGA - Drawdown Comparison
The maximum BBCA drawdown since its inception was -42.81%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for BBCA and UGA.
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Drawdown Indicators
| BBCA | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.81% | -86.59% | +43.78% |
Max Drawdown (1Y)Largest decline over 1 year | -8.43% | -14.88% | +6.45% |
Max Drawdown (3Y)Largest decline over 3 years | -12.77% | -26.68% | +13.91% |
Max Drawdown (5Y)Largest decline over 5 years | -24.43% | -38.11% | +13.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -1.27% | -12.35% | +11.08% |
Average DrawdownAverage peak-to-trough decline | -5.87% | -36.76% | +30.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 6.13% | -4.09% |
Volatility
BBCA vs. UGA - Volatility Comparison
The current volatility for JPMorgan BetaBuilders Canada ETF (BBCA) is 3.38%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that BBCA 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
| BBCA | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.38% | 11.66% | -8.28% |
Volatility (6M)Calculated over the trailing 6-month period | 10.85% | 30.41% | -19.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.49% | 35.14% | -21.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.69% | 34.38% | -17.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.14% | 37.27% | -17.13% |
BBCA vs. UGA - Expense Ratio Comparison
BBCA has a 0.19% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
BBCA vs. UGA - Dividend Comparison
BBCA's dividend yield for the trailing twelve months is around 1.74%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBCA JPMorgan BetaBuilders Canada ETF | 1.74% | 1.83% | 2.36% | 2.51% | 2.65% | 2.17% | 2.41% | 2.32% | 1.21% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BBCA and UGA have a correlation of -0.18, 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 BBCA (3.38%). In terms of maximum drawdown, BBCA dropped -42.81% vs UGA's -86.59%.
On 5-year performance, UGA leads with 25.10% vs 11.39% for BBCA. On fees, BBCA is cheaper at 0.19% per year. On volatility, BBCA has been the lower-risk option at 3.38%. 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 11.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBCA is cheaper with a 0.19% expense ratio, compared with 0.75% for UGA.
BBCA has the higher dividend yield at 1.74%, compared with 0.00% for UGA.
BBCA is categorized as Canada Equities, while UGA is Oil & Gas. BBCA tracks Morningstar Canada Target Market Exposure Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: JPMorgan and Concierge Technologies. Their fees differ too: 0.19% for BBCA and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.32 vs 2.21), 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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