BILT vs. UGA
BILT (iShares Infrastructure Active ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - BILT is a Infrastructure Equities fund actively managed by iShares, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. BILT is actively managed, while UGA is passively managed. Over the past year, BILT returned 17.98% vs 88.12% for UGA. Their -0.12 correlation means they have often moved in opposite directions in the past. BILT charges 0.60%/yr vs 0.75%/yr for UGA.
Performance
BILT vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, BILT achieves a 14.30% return, which is significantly lower than UGA's 91.06% return.
BILT
- 1D
- 0.11%
- 1M
- -1.05%
- 6M
- 8.99%
- YTD
- 14.30%
- 1Y
- 17.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 19.07%
UGA
- 1D
- -0.01%
- 1M
- 14.56%
- 6M
- 70.02%
- YTD
- 91.06%
- 1Y
- 88.12%
- 3Y*
- 17.55%
- 5Y*
- 25.78%
- 10Y*
- 18.03%
- ALL TIME*
- 4.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.38M | $1.70M | $1.65M | |
| $6.47M | $5.01M | $4.85M |
BILT vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BILT iShares Infrastructure Active ETF | 14.30% | 4.16% |
UGA United States Gasoline Fund LP | 91.06% | -6.06% |
Correlation
The correlation between BILT and UGA is -0.12, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.12 |
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025 | -0.12 |
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Return for Risk
BILT vs. UGA — Risk / Return Rank
BILT
UGA
BILT vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Infrastructure Active ETF (BILT) 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.
| BILT | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.37 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.52 | 4.12 | -0.60 |
| Martin ratioReturn relative to average drawdown | 10.60 | 11.57 | -0.97 |
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Drawdowns
BILT vs. UGA - Drawdown Comparison
The maximum BILT drawdown since its inception was -5.38%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for BILT and UGA.
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Drawdown Indicators
| BILT | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.38% | -86.59% | +81.21% |
Max Drawdown (1Y)Largest decline over 1 year | -5.38% | -20.32% | +14.94% |
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 DrawdownCurrent decline from peak | -2.25% | -5.63% | +3.38% |
Average DrawdownAverage peak-to-trough decline | -1.36% | -36.53% | +35.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 7.26% | -5.48% |
Volatility
BILT vs. UGA - Volatility Comparison
The current volatility for iShares Infrastructure Active ETF (BILT) is 3.10%, while United States Gasoline Fund LP (UGA) has a volatility of 11.28%. This indicates that BILT 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
| BILT | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.10% | 11.28% | -8.18% |
Volatility (6M)Calculated over the trailing 6-month period | 8.44% | 31.98% | -23.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.31% | 36.11% | -25.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.31% | 34.60% | -24.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.31% | 37.26% | -26.95% |
BILT vs. UGA - Expense Ratio Comparison
BILT has a 0.60% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
BILT vs. UGA - Dividend Comparison
BILT's dividend yield for the trailing twelve months is around 5.70%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
BILT iShares Infrastructure Active ETF | 5.70% | 0.99% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% |
Frequently Asked Questions
BILT 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.
UGA has higher volatility (11.28%) compared to BILT (3.10%). In terms of maximum drawdown, BILT dropped -5.38% vs UGA's -86.59%.
On 1-year performance, UGA leads with 88.12% vs 17.98% for BILT. On fees, BILT is cheaper at 0.60% per year. On volatility, BILT has been the lower-risk option at 3.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, UGA has performed better with a 88.12% return vs 17.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BILT is cheaper with a 0.60% expense ratio, compared with 0.75% for UGA.
BILT has the higher dividend yield at 5.70%, compared with 0.00% for UGA.
BILT is categorized as Infrastructure Equities, while UGA is Oil & Gas. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.60% for BILT and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.32 vs 1.84), 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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