CHIQ vs. UGA
CHIQ (Global X MSCI China Consumer Discretionary ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - CHIQ is a China Equities fund tracking the MSCI China Consumer Discretionary 10/50 Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, CHIQ returned 6.04%/yr vs 14.31%/yr for UGA. At a 0.20 correlation, their price movements are largely independent. CHIQ charges 0.65%/yr vs 0.75%/yr for UGA.
Performance
CHIQ vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, CHIQ achieves a -23.02% return, which is significantly lower than UGA's 64.09% return. Over the past 10 years, CHIQ has underperformed UGA with an annualized return of 6.04%, while UGA has yielded a comparatively higher 14.31% annualized return.
CHIQ
- 1D
- -1.68%
- 1M
- -11.75%
- YTD
- -23.02%
- 6M
- -23.86%
- 1Y
- -20.71%
- 3Y*
- -0.66%
- 5Y*
- -12.72%
- 10Y*
- 6.04%
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%
CHIQ vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CHIQ Global X MSCI China Consumer Discretionary ETF | -23.02% | 13.69% | 10.74% | -10.70% | -22.01% | -27.07% | 92.61% | 44.19% | -28.65% | 67.74% |
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 CHIQ and UGA is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2009 | 0.20 |
The correlation between CHIQ and UGA shifts across timeframes, from -0.08 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CHIQ vs. UGA — Risk / Return Rank
CHIQ
UGA
CHIQ vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X MSCI China Consumer Discretionary ETF (CHIQ) 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.
| CHIQ | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.66 | ||
| Sortino ratioReturn per unit of downside risk | -3.52 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.30 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | 3.17 | -3.80 |
| Martin ratioReturn relative to average drawdown | -1.52 | 9.39 | -10.91 |
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Drawdowns
CHIQ vs. UGA - Drawdown Comparison
The maximum CHIQ drawdown since its inception was -67.04%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for CHIQ and UGA.
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Drawdown Indicators
| CHIQ | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.04% | -86.59% | +19.55% |
Max Drawdown (1Y)Largest decline over 1 year | -32.87% | -18.96% | -13.91% |
Max Drawdown (3Y)Largest decline over 3 years | -32.87% | -26.68% | -6.19% |
Max Drawdown (5Y)Largest decline over 5 years | -59.95% | -38.11% | -21.84% |
Max Drawdown (10Y)Largest decline over 10 years | -67.04% | -75.89% | +8.85% |
Current DrawdownCurrent decline from peak | -59.61% | -18.05% | -41.56% |
Average DrawdownAverage peak-to-trough decline | -30.68% | -36.69% | +6.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.68% | 6.43% | +7.25% |
Volatility
CHIQ vs. UGA - Volatility Comparison
The current volatility for Global X MSCI China Consumer Discretionary ETF (CHIQ) is 6.60%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that CHIQ 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
| CHIQ | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.60% | 9.24% | -2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 16.22% | 30.57% | -14.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.46% | 35.22% | -12.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.74% | 34.45% | +3.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.43% | 37.22% | -4.79% |
CHIQ vs. UGA - Expense Ratio Comparison
CHIQ has a 0.65% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
CHIQ vs. UGA - Dividend Comparison
CHIQ's dividend yield for the trailing twelve months is around 1.92%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CHIQ Global X MSCI China Consumer Discretionary ETF | 1.92% | 1.48% | 2.65% | 2.26% | 0.38% | 0.00% | 0.11% | 1.05% | 2.71% | 0.62% | 1.51% | 4.86% |
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
CHIQ and UGA have a correlation of -0.08, 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 CHIQ (6.60%). In terms of maximum drawdown, CHIQ dropped -67.04% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.31% vs 6.04% for CHIQ. On fees, CHIQ is cheaper at 0.65% per year. On volatility, CHIQ has been the lower-risk option at 6.60%. 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 6.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CHIQ is cheaper with a 0.65% expense ratio, compared with 0.75% for UGA.
CHIQ has the higher dividend yield at 1.92%, compared with 0.00% for UGA.
CHIQ is categorized as China Equities, while UGA is Oil & Gas. CHIQ tracks MSCI China Consumer Discretionary 10/50 Index, 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 CHIQ and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs -0.93), 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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