CHAT vs. UGA

Last updated Jun 24, 2026

CHAT (Roundhill Generative AI & Technology ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - CHAT is a Technology Equities fund actively managed by Roundhill, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. CHAT is actively managed, while UGA is passively managed. Over the past 3 years, CHAT returned 51.32%/yr vs 18.95%/yr for UGA. At a correlation of -0.02, they often move in opposite directions. Both charge a 0.75% expense ratio.

Performance

CHAT vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Generative AI & Technology ETF (CHAT) and United States Gasoline Fund LP (UGA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with CHAT having a 63.45% return and UGA slightly higher at 64.09%.

CHAT

• 1D: -7.40%
• 1M: 7.27%
• YTD: 63.45%
• 6M: 62.78%
• 1Y: 115.67%
• 3Y*: 51.32%
• 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)

CHAT vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CHAT Roundhill Generative AI & Technology ETF	63.45%	49.85%	30.98%	21.04%
UGA United States Gasoline Fund LP	64.09%	-2.00%	3.77%	2.07%

Correlation

The correlation between CHAT and UGA is -0.17, 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	-0.17
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (All Time) Calculated using the full available price history since May 18, 2023	-0.02

The correlation between CHAT and UGA shifts across timeframes, from -0.17 (1 year) to -0.02 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

CHAT vs. UGA — Risk / Return Rank

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

CHAT

CHAT Risk / Return Rank: 89
CHAT Sharpe Ratio Rank: 94
CHAT Sortino Ratio Rank: 84
CHAT Omega Ratio Rank: 85
CHAT Calmar Ratio Rank: 95
CHAT Martin Ratio Rank: 90

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.

CHAT vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Generative AI & Technology ETF (CHAT) 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.

	CHAT	UGA	Difference
Sharpe ratio: Return per unit of total volatility	3.34	1.73	+1.61
Sortino ratio: Return per unit of downside risk	3.54	2.25	+1.29
Omega ratio: Gain probability vs. loss probability	1.49	1.30	+0.20
Calmar ratio: Return relative to maximum drawdown	7.14	3.17	+3.98
Martin ratio: Return relative to average drawdown	19.81	9.39	+10.42

CHAT vs. UGA - Sharpe Ratio Comparison

The current CHAT Sharpe Ratio is 3.34, which is higher than the UGA Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of CHAT 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

CHAT vs. UGA - Drawdown Comparison

The maximum CHAT drawdown since its inception was -31.34%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for CHAT and UGA.

Drawdown Indicators

	CHAT	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-31.34%	-86.59%	+55.25%
Max Drawdown (1Y) Largest decline over 1 year	-16.28%	-18.96%	+2.68%
Max Drawdown (3Y) Largest decline over 3 years	-31.34%	-26.68%	-4.66%
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	-7.40%	-18.05%	+10.65%
Average Drawdown Average peak-to-trough decline	-5.38%	-36.69%	+31.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.86%	6.43%	-0.57%

Volatility

CHAT vs. UGA - Volatility Comparison

Roundhill Generative AI & Technology ETF (CHAT) has a higher volatility of 19.25% compared to United States Gasoline Fund LP (UGA) at 9.24%. This indicates that CHAT'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.

Volatility by Period

	CHAT	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.25%	9.24%	+10.01%
Volatility (6M) Calculated over the trailing 6-month period	29.60%	30.57%	-0.97%
Volatility (1Y) Calculated over the trailing 1-year period	34.87%	35.22%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.22%	34.45%	-3.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.22%	37.22%	-6.00%

CHAT vs. UGA - Expense Ratio Comparison

Both CHAT and UGA have an expense ratio of 0.75%.

Dividends

CHAT vs. UGA - Dividend Comparison

CHAT's dividend yield for the trailing twelve months is around 1.74%, while UGA has not paid dividends to shareholders.

Position	TTM	2025
CHAT Roundhill Generative AI & Technology ETF	1.74%	2.85%
UGA United States Gasoline Fund LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both CHAT and UGA in my portfolio?

CHAT and UGA have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHAT or UGA?

CHAT has higher volatility (19.25%) compared to UGA (9.24%). In terms of maximum drawdown, CHAT dropped -31.34% vs UGA's -86.59%.

Which ETF is better, CHAT or UGA?

On 3-year performance, CHAT leads with 51.32% vs 18.95% for UGA. Both ETFs have the same 0.75% expense ratio. 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.

Which ETF has performed better, CHAT or UGA?

Over the 3-year period, CHAT has performed better with a 51.32% return vs 18.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CHAT or UGA?

CHAT and UGA have the same expense ratio: 0.75% per year.

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

CHAT has the higher dividend yield at 1.74%, compared with 0.00% for UGA.

What is the main difference between CHAT and UGA?

CHAT is categorized as Technology Equities, while UGA is Oil & Gas. They also come from different issuers: Roundhill and Concierge Technologies.

Which has better risk-adjusted returns?

CHAT currently has the higher Sharpe Ratio (3.34 vs 1.73), 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.