DEXC vs. UGA
DEXC (Dimensional Emerging Markets ex China Core Equity ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - DEXC is a Emerging Markets Diversified fund actively managed by Dimensional Fund Advisors, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. DEXC is actively managed, while UGA is passively managed. Over the past year, DEXC returned 63.36% vs 80.94% for UGA. At a correlation of -0.10, they often move in opposite directions. DEXC charges 0.43%/yr vs 0.75%/yr for UGA.
Performance
DEXC vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, DEXC achieves a 37.31% return, which is significantly lower than UGA's 75.49% return.
DEXC
- 1D
- -0.88%
- 1M
- 11.20%
- YTD
- 37.31%
- 6M
- 41.69%
- 1Y
- 63.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UGA
- 1D
- -0.19%
- 1M
- -12.35%
- YTD
- 75.49%
- 6M
- 64.35%
- 1Y
- 80.94%
- 3Y*
- 22.21%
- 5Y*
- 25.10%
- 10Y*
- 14.43%
DEXC vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DEXC Dimensional Emerging Markets ex China Core Equity ETF | 37.31% | 27.13% | -1.20% |
UGA United States Gasoline Fund LP | 75.49% | -2.00% | 3.08% |
Correlation
The correlation between DEXC and UGA is -0.27, 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 | -0.27 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2024 | -0.10 |
The correlation between DEXC and UGA shifts across timeframes, from -0.27 (1 year) to -0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DEXC vs. UGA — Risk / Return Rank
DEXC
UGA
DEXC vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional Emerging Markets ex China Core Equity ETF (DEXC) 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.
| DEXC | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.37 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 4.95 | 5.47 | -0.52 |
| Martin ratioReturn relative to average drawdown | 19.75 | 13.25 | +6.50 |
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
| DEXC | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.12 | 2.32 | +0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.73 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.17 | 0.12 | +2.05 |
Drawdowns
DEXC vs. UGA - Drawdown Comparison
The maximum DEXC drawdown since its inception was -15.07%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for DEXC and UGA.
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Drawdown Indicators
| DEXC | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.07% | -86.59% | +71.52% |
Max Drawdown (1Y)Largest decline over 1 year | -12.86% | -14.88% | +2.02% |
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 DrawdownCurrent decline from peak | -0.88% | -12.35% | +11.47% |
Average DrawdownAverage peak-to-trough decline | -2.41% | -36.76% | +34.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 6.13% | -2.91% |
Volatility
DEXC vs. UGA - Volatility Comparison
The current volatility for Dimensional Emerging Markets ex China Core Equity ETF (DEXC) is 9.61%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that DEXC 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
| DEXC | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.61% | 11.66% | -2.05% |
Volatility (6M)Calculated over the trailing 6-month period | 18.28% | 30.41% | -12.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.44% | 35.14% | -14.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.73% | 34.38% | -14.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.73% | 37.27% | -17.54% |
DEXC vs. UGA - Expense Ratio Comparison
DEXC has a 0.43% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
DEXC vs. UGA - Dividend Comparison
DEXC's dividend yield for the trailing twelve months is around 1.45%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
DEXC Dimensional Emerging Markets ex China Core Equity ETF | 1.45% | 1.97% | 0.19% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DEXC and UGA have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.66%) compared to DEXC (9.61%). In terms of maximum drawdown, DEXC dropped -15.07% vs UGA's -86.59%.
On 1-year performance, UGA leads with 80.94% vs 63.36% for DEXC. On fees, DEXC is cheaper at 0.43% per year. On volatility, DEXC has been the lower-risk option at 9.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, UGA has performed better with a 80.94% return vs 63.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DEXC is cheaper with a 0.43% expense ratio, compared with 0.75% for UGA.
DEXC has the higher dividend yield at 1.45%, compared with 0.00% for UGA.
DEXC is categorized as Emerging Markets Diversified, while UGA is Oil & Gas. They also come from different issuers: Dimensional Fund Advisors and Concierge Technologies. Their fees differ too: 0.43% for DEXC and 0.75% for UGA.
DEXC currently has the higher Sharpe Ratio (3.12 vs 2.32), 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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