BITS vs. UGA
BITS (Global X Blockchain & Bitcoin Strategy ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - BITS is a Cryptocurrency fund tracking the NONE, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 3 years, BITS returned 41.04%/yr vs 18.95%/yr for UGA. At a 0.06 correlation, their price movements are largely independent. BITS charges 0.65%/yr vs 0.75%/yr for UGA.
Performance
BITS vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, BITS achieves a -1.05% return, which is significantly lower than UGA's 64.09% return.
BITS
- 1D
- -2.95%
- 1M
- -9.90%
- YTD
- -1.05%
- 6M
- -4.96%
- 1Y
- 16.16%
- 3Y*
- 41.04%
- 5Y*
- —
- 10Y*
- —
UGA
- 1D
- -1.12%
- 1M
- -12.11%
- YTD
- 64.09%
- 6M
- 60.42%
- 1Y
- 59.74%
- 3Y*
- 18.95%
- 5Y*
- 22.69%
- 10Y*
- 14.31%
BITS vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BITS Global X Blockchain & Bitcoin Strategy ETF | -1.05% | 14.90% | 61.84% | 212.23% | -75.46% | -28.96% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | -2.22% |
Correlation
The correlation between BITS and UGA is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2021 | 0.06 |
The correlation between BITS and UGA shifts across timeframes, from -0.11 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BITS vs. UGA — Risk / Return Rank
BITS
UGA
BITS vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Blockchain & Bitcoin Strategy ETF (BITS) 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.
| BITS | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.42 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.30 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 3.17 | -2.83 |
| Martin ratioReturn relative to average drawdown | 0.60 | 9.39 | -8.79 |
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Drawdowns
BITS vs. UGA - Drawdown Comparison
The maximum BITS drawdown since its inception was -83.11%, roughly equal to the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for BITS and UGA.
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Drawdown Indicators
| BITS | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.11% | -86.59% | +3.48% |
Max Drawdown (1Y)Largest decline over 1 year | -48.38% | -18.96% | -29.42% |
Max Drawdown (3Y)Largest decline over 3 years | -48.38% | -26.68% | -21.70% |
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 | -34.86% | -18.05% | -16.81% |
Average DrawdownAverage peak-to-trough decline | -42.63% | -36.69% | -5.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.82% | 6.43% | +20.39% |
Volatility
BITS vs. UGA - Volatility Comparison
Global X Blockchain & Bitcoin Strategy ETF (BITS) has a higher volatility of 14.66% compared to United States Gasoline Fund LP (UGA) at 9.24%. This indicates that BITS'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.
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Volatility by Period
| BITS | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.66% | 9.24% | +5.42% |
Volatility (6M)Calculated over the trailing 6-month period | 40.96% | 30.57% | +10.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.22% | 35.22% | +18.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.86% | 34.45% | +26.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.86% | 37.22% | +23.64% |
BITS vs. UGA - Expense Ratio Comparison
BITS has a 0.65% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
BITS vs. UGA - Dividend Comparison
BITS's dividend yield for the trailing twelve months is around 23.04%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BITS Global X Blockchain & Bitcoin Strategy ETF | 23.04% | 22.80% | 29.49% | 13.69% | 0.48% | 1.90% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BITS and UGA have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITS has higher volatility (14.66%) compared to UGA (9.24%). In terms of maximum drawdown, BITS dropped -83.11% vs UGA's -86.59%.
On 3-year performance, BITS leads with 41.04% vs 18.95% for UGA. On fees, BITS is cheaper at 0.65% per year. On volatility, UGA has been the lower-risk option at 9.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITS has performed better with a 41.04% return vs 18.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BITS is cheaper with a 0.65% expense ratio, compared with 0.75% for UGA.
BITS has the higher dividend yield at 23.04%, compared with 0.00% for UGA.
BITS is categorized as Cryptocurrency, while UGA is Oil & Gas. BITS tracks NONE, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Global X and Concierge Technologies. Their fees differ too: 0.65% for BITS and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs 0.30), 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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