BKUI vs. UGA
BKUI (BNY Mellon Ultra Short Income ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - BKUI is a Ultrashort Bond fund actively managed by BNY Mellon, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. BKUI is actively managed, while UGA is passively managed. Over the past 3 years, BKUI returned 5.18%/yr vs 20.80%/yr for UGA. At a correlation of -0.10, they often move in opposite directions. BKUI charges 0.12%/yr vs 0.75%/yr for UGA.
Performance
BKUI vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, BKUI achieves a 1.43% return, which is significantly lower than UGA's 70.69% return.
BKUI
- 1D
- 0.01%
- 1M
- 0.30%
- YTD
- 1.43%
- 6M
- 1.77%
- 1Y
- 4.27%
- 3Y*
- 5.18%
- 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%
BKUI vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BKUI BNY Mellon Ultra Short Income ETF | 1.43% | 4.93% | 5.50% | 5.75% | -0.08% | -0.26% |
UGA United States Gasoline Fund LP | 70.69% | -2.00% | 3.77% | 1.27% | 46.34% | 10.05% |
Correlation
The correlation between BKUI and UGA is -0.33, 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 | -0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.17 |
Correlation (All Time) Calculated using the full available price history since Aug 12, 2021 | -0.10 |
Over the past year, the inverse relationship between BKUI and UGA has strengthened: their correlation has moved from -0.10 to -0.33, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
BKUI vs. UGA — Risk / Return Rank
BKUI
UGA
BKUI vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Ultra Short Income ETF (BKUI) 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.
| BKUI | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.18 | ||
| Sortino ratioReturn per unit of downside risk | +22.24 | ||
| Omega ratioGain probability vs. loss probability | 5.96 | 1.37 | +4.59 |
| Calmar ratioReturn relative to maximum drawdown | 32.16 | 5.37 | +26.79 |
| Martin ratioReturn relative to average drawdown | 229.32 | 12.86 | +216.46 |
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
| BKUI | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 10.45 | 2.27 | +8.18 |
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 | 6.08 | 0.12 | +5.97 |
Drawdowns
BKUI vs. UGA - Drawdown Comparison
The maximum BKUI drawdown since its inception was -1.72%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for BKUI and UGA.
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Drawdown Indicators
| BKUI | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.72% | -86.59% | +84.87% |
Max Drawdown (1Y)Largest decline over 1 year | -0.13% | -14.88% | +14.75% |
Max Drawdown (3Y)Largest decline over 3 years | -0.25% | -26.68% | +26.43% |
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 | -0.00% | -14.75% | +14.75% |
Average DrawdownAverage peak-to-trough decline | -0.27% | -36.76% | +36.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 6.20% | -6.18% |
Volatility
BKUI vs. UGA - Volatility Comparison
The current volatility for BNY Mellon Ultra Short Income ETF (BKUI) is 0.15%, while United States Gasoline Fund LP (UGA) has a volatility of 11.64%. This indicates that BKUI 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
| BKUI | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 11.64% | -11.49% |
Volatility (6M)Calculated over the trailing 6-month period | 0.31% | 30.48% | -30.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.41% | 35.27% | -34.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.59% | 34.40% | -33.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.59% | 37.27% | -36.68% |
BKUI vs. UGA - Expense Ratio Comparison
BKUI has a 0.12% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
BKUI vs. UGA - Dividend Comparison
BKUI's dividend yield for the trailing twelve months is around 4.21%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BKUI BNY Mellon Ultra Short Income ETF | 4.21% | 4.48% | 5.11% | 4.29% | 1.82% | 0.22% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BKUI and UGA have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.64%) compared to BKUI (0.15%). In terms of maximum drawdown, BKUI dropped -1.72% vs UGA's -86.59%.
On 3-year performance, UGA leads with 20.80% vs 5.18% for BKUI. On fees, BKUI is cheaper at 0.12% per year. On volatility, BKUI has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UGA has performed better with a 20.80% return vs 5.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKUI is cheaper with a 0.12% expense ratio, compared with 0.75% for UGA.
BKUI has the higher dividend yield at 4.21%, compared with 0.00% for UGA.
BKUI is categorized as Ultrashort Bond, while UGA is Oil & Gas. They also come from different issuers: BNY Mellon and Concierge Technologies. Their fees differ too: 0.12% for BKUI and 0.75% for UGA.
BKUI currently has the higher Sharpe Ratio (10.45 vs 2.27), 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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