BBLB vs. UGA
BBLB (JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - BBLB is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 3 years, BBLB returned -1.70%/yr vs 22.21%/yr for UGA. At a correlation of -0.20, they often move in opposite directions. BBLB charges 0.04%/yr vs 0.75%/yr for UGA.
Performance
BBLB vs. UGA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BBLB achieves a -0.36% return, which is significantly lower than UGA's 75.49% return.
BBLB
- 1D
- -0.40%
- 1M
- 0.77%
- YTD
- -0.36%
- 6M
- -1.96%
- 1Y
- 5.09%
- 3Y*
- -1.70%
- 5Y*
- —
- 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%
BBLB vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF | -0.36% | 4.26% | -7.84% | -2.91% |
UGA United States Gasoline Fund LP | 75.49% | -2.00% | 3.77% | 2.57% |
Correlation
The correlation between BBLB and UGA is -0.38, 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 | -0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Apr 21, 2023 | -0.20 |
The correlation between BBLB and UGA shifts across timeframes, from -0.38 (1 year) to -0.19 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BBLB vs. UGA — Risk / Return Rank
BBLB
UGA
BBLB vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) 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.
| BBLB | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.37 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | 5.47 | -4.79 |
| Martin ratioReturn relative to average drawdown | 1.70 | 13.25 | -11.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| BBLB | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.52 | 2.32 | -1.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.73 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.17 | 0.12 | -0.29 |
Drawdowns
BBLB vs. UGA - Drawdown Comparison
The maximum BBLB drawdown since its inception was -21.06%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for BBLB and UGA.
Loading charts...
Drawdown Indicators
| BBLB | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.06% | -86.59% | +65.53% |
Max Drawdown (1Y)Largest decline over 1 year | -7.53% | -14.88% | +7.35% |
Max Drawdown (3Y)Largest decline over 3 years | -18.95% | -26.68% | +7.73% |
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 | -8.93% | -12.35% | +3.42% |
Average DrawdownAverage peak-to-trough decline | -8.94% | -36.76% | +27.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 6.13% | -3.13% |
Volatility
BBLB vs. UGA - Volatility Comparison
The current volatility for JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) is 2.90%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that BBLB 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.
Loading charts...
Volatility by Period
| BBLB | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 11.66% | -8.76% |
Volatility (6M)Calculated over the trailing 6-month period | 6.55% | 30.41% | -23.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.80% | 35.14% | -25.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.83% | 34.38% | -20.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.83% | 37.27% | -23.44% |
BBLB vs. UGA - Expense Ratio Comparison
BBLB has a 0.04% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
BBLB vs. UGA - Dividend Comparison
BBLB's dividend yield for the trailing twelve months is around 5.00%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF | 5.00% | 5.03% | 5.34% | 2.82% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BBLB and UGA have a correlation of -0.38, 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 BBLB (2.90%). In terms of maximum drawdown, BBLB dropped -21.06% vs UGA's -86.59%.
On 3-year performance, UGA leads with 22.21% vs -1.70% for BBLB. On fees, BBLB is cheaper at 0.04% per year. On volatility, BBLB has been the lower-risk option at 2.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UGA has performed better with a 22.21% return vs -1.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBLB is cheaper with a 0.04% expense ratio, compared with 0.75% for UGA.
BBLB has the higher dividend yield at 5.00%, compared with 0.00% for UGA.
BBLB is categorized as Government Bonds, while UGA is Oil & Gas. BBLB tracks ICE U.S. Treasury 20+ Year Bond Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: JPMorgan and Concierge Technologies. Their fees differ too: 0.04% for BBLB and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.32 vs 0.52), 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.
Find the right allocation for BBLB and UGA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer