BBMC vs. UGA
BBMC (JPMorgan BetaBuilders U.S. Mid Cap Equity ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - BBMC is a Small Cap Growth Equities fund tracking the Morningstar US Mid Cap Target Market Exposure Extended Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 5 years, BBMC returned 8.32%/yr vs 25.10%/yr for UGA. At a 0.16 correlation, their price movements are largely independent. BBMC charges 0.07%/yr vs 0.75%/yr for UGA.
Performance
BBMC vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, BBMC achieves a 16.66% return, which is significantly lower than UGA's 75.49% return.
BBMC
- 1D
- -0.12%
- 1M
- 4.96%
- YTD
- 16.66%
- 6M
- 16.84%
- 1Y
- 33.04%
- 3Y*
- 19.56%
- 5Y*
- 8.32%
- 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%
BBMC vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | 16.66% | 12.24% | 15.15% | 18.37% | -19.77% | 17.64% | 61.98% |
UGA United States Gasoline Fund LP | 75.49% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | 94.17% |
Correlation
The correlation between BBMC 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 | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2020 | 0.16 |
The correlation between BBMC and UGA shifts across timeframes, from -0.22 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BBMC vs. UGA — Risk / Return Rank
BBMC
UGA
BBMC vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (BBMC) 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.
| BBMC | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.37 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 5.47 | -2.06 |
| Martin ratioReturn relative to average drawdown | 13.41 | 13.25 | +0.17 |
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
| BBMC | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.04 | 2.32 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.73 | -0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.85 | 0.12 | +0.73 |
Drawdowns
BBMC vs. UGA - Drawdown Comparison
The maximum BBMC drawdown since its inception was -30.11%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for BBMC and UGA.
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Drawdown Indicators
| BBMC | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.11% | -86.59% | +56.48% |
Max Drawdown (1Y)Largest decline over 1 year | -9.75% | -14.88% | +5.13% |
Max Drawdown (3Y)Largest decline over 3 years | -24.18% | -26.68% | +2.50% |
Max Drawdown (5Y)Largest decline over 5 years | -30.11% | -38.11% | +8.00% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -0.12% | -12.35% | +12.23% |
Average DrawdownAverage peak-to-trough decline | -8.92% | -36.76% | +27.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 6.13% | -3.66% |
Volatility
BBMC vs. UGA - Volatility Comparison
The current volatility for JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (BBMC) is 4.72%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that BBMC 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
| BBMC | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.72% | 11.66% | -6.94% |
Volatility (6M)Calculated over the trailing 6-month period | 12.14% | 30.41% | -18.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.32% | 35.14% | -18.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.59% | 34.38% | -13.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.08% | 37.27% | -16.19% |
BBMC vs. UGA - Expense Ratio Comparison
BBMC has a 0.07% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
BBMC vs. UGA - Dividend Comparison
BBMC's dividend yield for the trailing twelve months is around 1.09%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | 1.09% | 1.25% | 1.31% | 1.36% | 1.48% | 0.87% | 0.69% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BBMC 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 (11.66%) compared to BBMC (4.72%). In terms of maximum drawdown, BBMC dropped -30.11% vs UGA's -86.59%.
On 5-year performance, UGA leads with 25.10% vs 8.32% for BBMC. On fees, BBMC is cheaper at 0.07% per year. On volatility, BBMC has been the lower-risk option at 4.72%. 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 8.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBMC is cheaper with a 0.07% expense ratio, compared with 0.75% for UGA.
BBMC has the higher dividend yield at 1.09%, compared with 0.00% for UGA.
BBMC is categorized as Small Cap Growth Equities, while UGA is Oil & Gas. BBMC tracks Morningstar US Mid Cap Target Market Exposure Extended Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: JPMorgan and Concierge Technologies. Their fees differ too: 0.07% for BBMC and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.32 vs 2.04), 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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