CTEX vs. UGA
CTEX (ProShares S&P Kensho Cleantech ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - CTEX is a Alternative Energy Equities fund tracking the S&P Kensho Cleantech Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 3 years, CTEX returned 11.07%/yr vs 18.95%/yr for UGA. At a 0.07 correlation, their price movements are largely independent. CTEX charges 0.58%/yr vs 0.75%/yr for UGA.
Performance
CTEX vs. UGA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CTEX achieves a 20.77% return, which is significantly lower than UGA's 64.09% return.
CTEX
- 1D
- -6.36%
- 1M
- -8.02%
- YTD
- 20.77%
- 6M
- 16.43%
- 1Y
- 116.42%
- 3Y*
- 11.07%
- 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%
CTEX vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CTEX ProShares S&P Kensho Cleantech ETF | 20.77% | 67.74% | -20.38% | -10.25% | -20.38% | -6.68% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 7.59% |
Correlation
The correlation between CTEX and UGA is -0.13, 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 | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.07 |
The correlation between CTEX and UGA shifts across timeframes, from -0.13 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CTEX vs. UGA — Risk / Return Rank
CTEX
UGA
CTEX vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares S&P Kensho Cleantech ETF (CTEX) 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.
| CTEX | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.30 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 5.35 | 3.17 | +2.18 |
| Martin ratioReturn relative to average drawdown | 13.69 | 9.39 | +4.30 |
Loading charts...
Drawdowns
CTEX vs. UGA - Drawdown Comparison
The maximum CTEX drawdown since its inception was -70.31%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for CTEX and UGA.
Loading charts...
Drawdown Indicators
| CTEX | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.31% | -86.59% | +16.28% |
Max Drawdown (1Y)Largest decline over 1 year | -21.90% | -18.96% | -2.94% |
Max Drawdown (3Y)Largest decline over 3 years | -56.83% | -26.68% | -30.15% |
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 | -17.23% | -18.05% | +0.82% |
Average DrawdownAverage peak-to-trough decline | -41.61% | -36.69% | -4.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.53% | 6.43% | +2.10% |
Volatility
CTEX vs. UGA - Volatility Comparison
ProShares S&P Kensho Cleantech ETF (CTEX) has a higher volatility of 19.24% compared to United States Gasoline Fund LP (UGA) at 9.24%. This indicates that CTEX'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.
Loading charts...
Volatility by Period
| CTEX | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.24% | 9.24% | +10.00% |
Volatility (6M)Calculated over the trailing 6-month period | 32.48% | 30.57% | +1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.17% | 35.22% | +8.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.59% | 34.45% | +9.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.59% | 37.22% | +6.37% |
CTEX vs. UGA - Expense Ratio Comparison
CTEX has a 0.58% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
CTEX vs. UGA - Dividend Comparison
CTEX's dividend yield for the trailing twelve months is around 1.73%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CTEX ProShares S&P Kensho Cleantech ETF | 1.73% | 2.17% | 0.57% | 0.12% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CTEX and UGA have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CTEX has higher volatility (19.24%) compared to UGA (9.24%). In terms of maximum drawdown, CTEX dropped -70.31% vs UGA's -86.59%.
On 3-year performance, UGA leads with 18.95% vs 11.07% for CTEX. On fees, CTEX is cheaper at 0.58% per year. 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.
Over the 3-year period, UGA has performed better with a 18.95% return vs 11.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CTEX is cheaper with a 0.58% expense ratio, compared with 0.75% for UGA.
CTEX has the higher dividend yield at 1.73%, compared with 0.00% for UGA.
CTEX is categorized as Alternative Energy Equities, while UGA is Oil & Gas. CTEX tracks S&P Kensho Cleantech Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: ProShares and Concierge Technologies. Their fees differ too: 0.58% for CTEX and 0.75% for UGA.
CTEX currently has the higher Sharpe Ratio (2.65 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.
Find the right allocation for CTEX and UGA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer