CGCV vs. UGA

Last updated Jun 24, 2026

CGCV (Capital Group Conservative Equity ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - CGCV is a Large Cap Value Equities fund actively managed by Capital Group, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. CGCV is actively managed, while UGA is passively managed. Over the past year, CGCV returned 16.35% vs 59.74% for UGA. At a correlation of -0.09, they often move in opposite directions. CGCV charges 0.33%/yr vs 0.75%/yr for UGA.

Performance

CGCV vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group Conservative Equity ETF (CGCV) 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, CGCV achieves a 6.22% return, which is significantly lower than UGA's 64.09% return.

CGCV

• 1D: -0.03%
• 1M: 0.25%
• YTD: 6.22%
• 6M: 5.79%
• 1Y: 16.35%
• 3Y*: —
• 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%

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

CGCV vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CGCV Capital Group Conservative Equity ETF	6.22%	16.62%	7.21%
UGA United States Gasoline Fund LP	64.09%	-2.00%	-7.23%

Correlation

The correlation between CGCV and UGA is -0.21, 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	-0.21
Correlation (All Time) Calculated using the full available price history since Jun 27, 2024	-0.09

The correlation between CGCV and UGA shifts across timeframes, from -0.21 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CGCV vs. UGA — Risk / Return Rank

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

CGCV

CGCV Risk / Return Rank: 49
CGCV Sharpe Ratio Rank: 51
CGCV Sortino Ratio Rank: 50
CGCV Omega Ratio Rank: 49
CGCV Calmar Ratio Rank: 43
CGCV Martin Ratio Rank: 51

UGA

UGA Risk / Return Rank: 55
UGA Sharpe Ratio Rank: 53
UGA Sortino Ratio Rank: 48
UGA Omega Ratio Rank: 49
UGA Calmar Ratio Rank: 67
UGA Martin Ratio Rank: 56

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.

CGCV vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group Conservative Equity ETF (CGCV) 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.

	CGCV	UGA	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.73	-0.07
Sortino ratio: Return per unit of downside risk	2.34	2.25	+0.10
Omega ratio: Gain probability vs. loss probability	1.30	1.30	0.00
Calmar ratio: Return relative to maximum drawdown	2.07	3.17	-1.09
Martin ratio: Return relative to average drawdown	8.35	9.39	-1.04

CGCV vs. UGA - Sharpe Ratio Comparison

The current CGCV Sharpe Ratio is 1.66, which is comparable to the UGA Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of CGCV 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.

Drawdowns

CGCV vs. UGA - Drawdown Comparison

The maximum CGCV drawdown since its inception was -13.13%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for CGCV and UGA.

Drawdown Indicators

	CGCV	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-13.13%	-86.59%	+73.46%
Max Drawdown (1Y) Largest decline over 1 year	-7.93%	-18.96%	+11.03%
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	-0.71%	-18.05%	+17.34%
Average Drawdown Average peak-to-trough decline	-1.64%	-36.69%	+35.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	6.43%	-4.47%

Volatility

CGCV vs. UGA - Volatility Comparison

The current volatility for Capital Group Conservative Equity ETF (CGCV) is 2.71%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that CGCV 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.

Volatility by Period

	CGCV	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.71%	9.24%	-6.53%
Volatility (6M) Calculated over the trailing 6-month period	7.64%	30.57%	-22.93%
Volatility (1Y) Calculated over the trailing 1-year period	9.90%	35.22%	-25.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.59%	34.45%	-21.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.59%	37.22%	-24.63%

CGCV vs. UGA - Expense Ratio Comparison

CGCV has a 0.33% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

CGCV vs. UGA - Dividend Comparison

CGCV's dividend yield for the trailing twelve months is around 1.45%, while UGA has not paid dividends to shareholders.

Position	TTM	2025	2024
CGCV Capital Group Conservative Equity ETF	1.45%	1.44%	0.68%
UGA United States Gasoline Fund LP	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CGCV and UGA in my portfolio?

CGCV and UGA have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGCV or UGA?

UGA has higher volatility (9.24%) compared to CGCV (2.71%). In terms of maximum drawdown, CGCV dropped -13.13% vs UGA's -86.59%.

Which ETF is better, CGCV or UGA?

On 1-year performance, UGA leads with 59.74% vs 16.35% for CGCV. On fees, CGCV is cheaper at 0.33% per year. On volatility, CGCV has been the lower-risk option at 2.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGCV or UGA?

Over the 1-year period, UGA has performed better with a 59.74% return vs 16.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGCV or UGA?

CGCV is cheaper with a 0.33% expense ratio, compared with 0.75% for UGA.

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

CGCV has the higher dividend yield at 1.45%, compared with 0.00% for UGA.

What is the main difference between CGCV and UGA?

CGCV is categorized as Large Cap Value Equities, while UGA is Oil & Gas. They also come from different issuers: Capital Group and Concierge Technologies. Their fees differ too: 0.33% for CGCV and 0.75% for UGA.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (1.73 vs 1.66), 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.