BBJP vs. UGA
BBJP (JPMorgan BetaBuilders Japan ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - BBJP is a Japan Equities fund tracking the Morningstar Japan 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, BBJP returned 8.80%/yr vs 22.22%/yr for UGA. At a 0.14 correlation, their price movements are largely independent. BBJP charges 0.19%/yr vs 0.75%/yr for UGA.
Performance
BBJP vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, BBJP achieves a 13.46% return, which is significantly lower than UGA's 59.54% return.
BBJP
- 1D
- -0.16%
- 1M
- 0.39%
- YTD
- 13.46%
- 6M
- 13.18%
- 1Y
- 31.39%
- 3Y*
- 18.14%
- 5Y*
- 8.80%
- 10Y*
- —
UGA
- 1D
- -2.77%
- 1M
- -14.54%
- YTD
- 59.54%
- 6M
- 55.91%
- 1Y
- 62.68%
- 3Y*
- 17.85%
- 5Y*
- 22.22%
- 10Y*
- 13.99%
BBJP vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BBJP JPMorgan BetaBuilders Japan ETF | 13.46% | 26.55% | 7.47% | 20.65% | -17.24% | 1.21% | 15.42% | 18.85% | -13.92% |
UGA United States Gasoline Fund LP | 59.54% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -29.22% |
Correlation
The correlation between BBJP and UGA is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2018 | 0.14 |
The correlation between BBJP and UGA shifts across timeframes, from -0.22 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BBJP vs. UGA — Risk / Return Rank
BBJP
UGA
BBJP vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Japan ETF (BBJP) 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.
| BBJP | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.31 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 3.10 | -0.78 |
| Martin ratioReturn relative to average drawdown | 7.71 | 9.66 | -1.95 |
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Drawdowns
BBJP vs. UGA - Drawdown Comparison
The maximum BBJP drawdown since its inception was -32.66%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for BBJP and UGA.
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Drawdown Indicators
| BBJP | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.66% | -86.59% | +53.93% |
Max Drawdown (1Y)Largest decline over 1 year | -13.60% | -20.32% | +6.72% |
Max Drawdown (3Y)Largest decline over 3 years | -14.49% | -26.68% | +12.19% |
Max Drawdown (5Y)Largest decline over 5 years | -32.66% | -38.11% | +5.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -4.30% | -20.32% | +16.02% |
Average DrawdownAverage peak-to-trough decline | -8.48% | -36.69% | +28.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.08% | 6.51% | -2.43% |
Volatility
BBJP vs. UGA - Volatility Comparison
The current volatility for JPMorgan BetaBuilders Japan ETF (BBJP) is 7.46%, while United States Gasoline Fund LP (UGA) has a volatility of 9.45%. This indicates that BBJP 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
| BBJP | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.46% | 9.45% | -1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 16.37% | 30.74% | -14.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.43% | 34.84% | -14.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.37% | 34.47% | -16.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.39% | 37.22% | -18.83% |
BBJP vs. UGA - Expense Ratio Comparison
BBJP has a 0.19% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
BBJP vs. UGA - Dividend Comparison
BBJP's dividend yield for the trailing twelve months is around 4.73%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBJP JPMorgan BetaBuilders Japan ETF | 4.73% | 5.37% | 2.80% | 3.05% | 1.52% | 2.89% | 1.12% | 2.31% | 0.65% |
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
BBJP and UGA have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (9.45%) compared to BBJP (7.46%). In terms of maximum drawdown, BBJP dropped -32.66% vs UGA's -86.59%.
On 5-year performance, UGA leads with 22.22% vs 8.80% for BBJP. On fees, BBJP is cheaper at 0.19% per year. On volatility, BBJP has been the lower-risk option at 7.46%. 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 22.22% return vs 8.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBJP is cheaper with a 0.19% expense ratio, compared with 0.75% for UGA.
BBJP has the higher dividend yield at 4.73%, compared with 0.00% for UGA.
BBJP is categorized as Japan Equities, while UGA is Oil & Gas. BBJP tracks Morningstar Japan 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 BBJP and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.82 vs 1.55), 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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