BKF vs. UGA
BKF (iShares MSCI BRIC ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - BKF is a Asia Pacific Equities fund tracking the MSCI BRIC Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, BKF returned 4.92%/yr vs 14.31%/yr for UGA. At a 0.29 correlation, their price movements are largely independent. BKF charges 0.69%/yr vs 0.75%/yr for UGA.
Performance
BKF vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, BKF achieves a -10.85% return, which is significantly lower than UGA's 64.09% return. Over the past 10 years, BKF has underperformed UGA with an annualized return of 4.92%, while UGA has yielded a comparatively higher 14.31% annualized return.
BKF
- 1D
- -2.58%
- 1M
- -3.70%
- YTD
- -10.85%
- 6M
- -11.19%
- 1Y
- -2.61%
- 3Y*
- 6.90%
- 5Y*
- -4.53%
- 10Y*
- 4.92%
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%
BKF vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BKF iShares MSCI BRIC ETF | -10.85% | 22.30% | 9.24% | 1.27% | -21.78% | -11.87% | 16.52% | 22.93% | -13.80% | 41.80% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 1.69% |
Correlation
The correlation between BKF and UGA is -0.19, 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 | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2008 | 0.29 |
The correlation between BKF and UGA shifts across timeframes, from -0.19 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BKF vs. UGA — Risk / Return Rank
BKF
UGA
BKF vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI BRIC ETF (BKF) 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.
| BKF | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -2.37 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.30 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 3.17 | -3.34 |
| Martin ratioReturn relative to average drawdown | -0.44 | 9.39 | -9.83 |
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Drawdowns
BKF vs. UGA - Drawdown Comparison
The maximum BKF drawdown since its inception was -70.29%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for BKF and UGA.
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Drawdown Indicators
| BKF | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.29% | -86.59% | +16.30% |
Max Drawdown (1Y)Largest decline over 1 year | -14.62% | -18.96% | +4.34% |
Max Drawdown (3Y)Largest decline over 3 years | -18.60% | -26.68% | +8.08% |
Max Drawdown (5Y)Largest decline over 5 years | -44.94% | -38.11% | -6.83% |
Max Drawdown (10Y)Largest decline over 10 years | -49.20% | -75.89% | +26.69% |
Current DrawdownCurrent decline from peak | -27.80% | -18.05% | -9.75% |
Average DrawdownAverage peak-to-trough decline | -28.10% | -36.69% | +8.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.91% | 6.43% | -0.52% |
Volatility
BKF vs. UGA - Volatility Comparison
The current volatility for iShares MSCI BRIC ETF (BKF) is 5.42%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that BKF 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
| BKF | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.42% | 9.24% | -3.82% |
Volatility (6M)Calculated over the trailing 6-month period | 13.05% | 30.57% | -17.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.91% | 35.22% | -19.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.59% | 34.45% | -12.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.73% | 37.22% | -15.49% |
BKF vs. UGA - Expense Ratio Comparison
BKF has a 0.69% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
BKF vs. UGA - Dividend Comparison
BKF's dividend yield for the trailing twelve months is around 1.63%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKF iShares MSCI BRIC ETF | 1.63% | 1.79% | 2.37% | 1.68% | 2.04% | 2.93% | 1.02% | 1.66% | 2.33% | 1.51% | 1.82% | 3.15% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BKF and UGA have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (9.24%) compared to BKF (5.42%). In terms of maximum drawdown, BKF dropped -70.29% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.31% vs 4.92% for BKF. On fees, BKF is cheaper at 0.69% per year. On volatility, BKF has been the lower-risk option at 5.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UGA has performed better with a 14.31% return vs 4.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKF is cheaper with a 0.69% expense ratio, compared with 0.75% for UGA.
BKF has the higher dividend yield at 1.63%, compared with 0.00% for UGA.
BKF is categorized as Asia Pacific Equities, while UGA is Oil & Gas. BKF tracks MSCI BRIC Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.69% for BKF and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs -0.16), 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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