BEGS vs. UGA

Last updated Jun 5, 2026

BEGS (Rareview 2x Bull Cryptocurrency & Precious Metals ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - BEGS is a Leveraged Cryptocurrency fund actively managed by Rareview, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. BEGS is actively managed, while UGA is passively managed. Over the past year, BEGS returned -18.02% vs 79.48% for UGA. At a correlation of -0.02, they often move in opposite directions. BEGS charges 0.99%/yr vs 0.75%/yr for UGA.

Performance

BEGS vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rareview 2x Bull Cryptocurrency & Precious Metals ETF (BEGS) and United States Gasoline Fund LP (UGA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BEGS achieves a -31.00% return, which is significantly lower than UGA's 70.69% return.

BEGS

• 1D: -1.44%
• 1M: -23.94%
• YTD: -31.00%
• 6M: -29.94%
• 1Y: -18.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UGA

• 1D: -2.73%
• 1M: -12.25%
• YTD: 70.69%
• 6M: 59.72%
• 1Y: 79.48%
• 3Y*: 20.80%
• 5Y*: 24.41%
• 10Y*: 14.27%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BEGS vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025
BEGS Rareview 2x Bull Cryptocurrency & Precious Metals ETF	-31.00%	39.46%
UGA United States Gasoline Fund LP	70.69%	-5.26%

Correlation

The correlation between BEGS and UGA is -0.12, 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	-0.12
Correlation (All Time) Calculated using the full available price history since Feb 10, 2025	-0.02

The correlation between BEGS and UGA shifts across timeframes, from -0.12 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BEGS vs. UGA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BEGS

BEGS Risk / Return Rank: 7
BEGS Sharpe Ratio Rank: 6
BEGS Sortino Ratio Rank: 8
BEGS Omega Ratio Rank: 8
BEGS Calmar Ratio Rank: 6
BEGS Martin Ratio Rank: 6

UGA

UGA Risk / Return Rank: 70
UGA Sharpe Ratio Rank: 71
UGA Sortino Ratio Rank: 58
UGA Omega Ratio Rank: 62
UGA Calmar Ratio Rank: 89
UGA Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BEGS vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rareview 2x Bull Cryptocurrency & Precious Metals ETF (BEGS) 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.

	BEGS	UGA	Difference
Sharpe ratio: Return per unit of total volatility	-0.28	2.27	-2.55
Sortino ratio: Return per unit of downside risk	0.02	2.71	-2.69
Omega ratio: Gain probability vs. loss probability	1.00	1.37	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.37	5.37	-5.74
Martin ratio: Return relative to average drawdown	-0.76	12.86	-13.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BEGS vs. UGA - Sharpe Ratio Comparison

The current BEGS Sharpe Ratio is -0.28, which is lower than the UGA Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of BEGS and UGA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BEGS	UGA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.28	2.27	-2.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.71	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.12	-0.16

Drawdowns

BEGS vs. UGA - Drawdown Comparison

The maximum BEGS drawdown since its inception was -48.87%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for BEGS and UGA.

Drawdown Indicators

	BEGS	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-48.87%	-86.59%	+37.72%
Max Drawdown (1Y) Largest decline over 1 year	-48.87%	-14.88%	-33.99%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.68%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.89%	—
Current Drawdown Current decline from peak	-48.87%	-14.75%	-34.12%
Average Drawdown Average peak-to-trough decline	-16.66%	-36.76%	+20.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.72%	6.20%	+17.52%

Volatility

BEGS vs. UGA - Volatility Comparison

Rareview 2x Bull Cryptocurrency & Precious Metals ETF (BEGS) has a higher volatility of 12.93% compared to United States Gasoline Fund LP (UGA) at 11.64%. This indicates that BEGS's price experiences larger fluctuations and is considered to be riskier than UGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BEGS	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.93%	11.64%	+1.29%
Volatility (6M) Calculated over the trailing 6-month period	53.62%	30.48%	+23.14%
Volatility (1Y) Calculated over the trailing 1-year period	63.80%	35.27%	+28.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.37%	34.40%	+27.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.37%	37.27%	+25.10%

BEGS vs. UGA - Expense Ratio Comparison

BEGS has a 0.99% expense ratio, which is higher than UGA's 0.75% expense ratio.

Dividends

BEGS vs. UGA - Dividend Comparison

BEGS's dividend yield for the trailing twelve months is around 69.90%, while UGA has not paid dividends to shareholders.

Position	TTM	2025
BEGS Rareview 2x Bull Cryptocurrency & Precious Metals ETF	69.90%	48.23%
UGA United States Gasoline Fund LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both BEGS and UGA in my portfolio?

BEGS and UGA have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BEGS or UGA?

BEGS has higher volatility (12.93%) compared to UGA (11.64%). In terms of maximum drawdown, BEGS dropped -48.87% vs UGA's -86.59%.

Which ETF is better, BEGS or UGA?

On 1-year performance, UGA leads with 79.48% vs -18.02% for BEGS. On fees, UGA is cheaper at 0.75% per year. On volatility, UGA has been the lower-risk option at 11.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BEGS or UGA?

Over the 1-year period, UGA has performed better with a 79.48% return vs -18.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BEGS or UGA?

UGA is cheaper with a 0.75% expense ratio, compared with 0.99% for BEGS.

Which ETF pays a higher dividend yield, BEGS or UGA?

BEGS has the higher dividend yield at 69.90%, compared with 0.00% for UGA.

What is the main difference between BEGS and UGA?

BEGS is categorized as Leveraged Cryptocurrency, while UGA is Oil & Gas. They also come from different issuers: Rareview and Concierge Technologies. Their fees differ too: 0.99% for BEGS and 0.75% for UGA.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (2.27 vs -0.28), 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.