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 Equities fund actively managed by Dimensional, while UGA is a Oil & Gas fund tracking the Near-Month NYMEX RBOB Gasoline Futures Contract. DEXC is actively managed, while UGA is passively managed. Over the past year, DEXC returned 39.06% vs 88.12% for UGA. Their -0.08 correlation means they have often moved in opposite directions in the past. DEXC charges 0.43%/yr vs 1.02%/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 22.11% return, which is significantly lower than UGA's 91.06% return.
DEXC
- 1D
- 0.21%
- 1M
- -6.85%
- 6M
- 13.02%
- YTD
- 22.11%
- 1Y
- 39.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 28.12%
UGA
- 1D
- -0.01%
- 1M
- 14.56%
- 6M
- 70.02%
- YTD
- 91.06%
- 1Y
- 88.12%
- 3Y*
- 17.55%
- 5Y*
- 25.78%
- 10Y*
- 18.03%
- ALL TIME*
- 4.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.25M | $1.39M | $1.60M | |
| $6.47M | $5.01M | $4.85M |
DEXC vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DEXC Dimensional Emerging Markets ex China Core Equity ETF | 22.11% | 27.13% | -1.63% |
UGA United States Gasoline Fund, LP | 91.06% | -2.00% | 4.24% |
Correlation
The correlation between DEXC and UGA is -0.20, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.20 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2024 | -0.08 |
The correlation between DEXC and UGA shifts across timeframes, from -0.20 (1 year) to -0.08 (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.
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.
| DEXC | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.37 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 4.12 | -1.99 |
| Martin ratioReturn relative to average drawdown | 8.09 | 11.57 | -3.47 |
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Drawdowns
DEXC vs. UGA - Drawdown Comparison
The maximum DEXC drawdown since its inception was -18.31%, 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 | -18.31% | -86.59% | +68.28% |
Max Drawdown (1Y)Largest decline over 1 year | -18.31% | -20.32% | +2.01% |
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 | -14.30% | -5.63% | -8.67% |
Average DrawdownAverage peak-to-trough decline | -2.92% | -36.53% | +33.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.79% | 7.26% | -2.47% |
Volatility
DEXC vs. UGA - Volatility Comparison
The current volatility for Dimensional Emerging Markets ex China Core Equity ETF (DEXC) is 10.08%, while United States Gasoline Fund, LP (UGA) has a volatility of 11.28%. 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 | 10.08% | 11.28% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 24.42% | 31.98% | -7.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.90% | 36.11% | -10.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.68% | 34.60% | -11.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.68% | 37.26% | -14.58% |
DEXC vs. UGA - Expense Ratio Comparison
DEXC has a 0.43% expense ratio, which is lower than UGA's 1.02% expense ratio.
Dividends
DEXC vs. UGA - Dividend Comparison
DEXC's dividend yield for the trailing twelve months is around 1.67%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
DEXC Dimensional Emerging Markets ex China Core Equity ETF | 1.67% | 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 -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.28%) compared to DEXC (10.08%). In terms of maximum drawdown, DEXC dropped -18.31% vs UGA's -86.59%.
On 1-year performance, UGA leads with 88.12% vs 39.06% for DEXC. On fees, DEXC is cheaper at 0.43% per year. On volatility, DEXC has been the lower-risk option at 10.08%. 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 88.12% return vs 39.06%. 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 1.02% for UGA.
DEXC has the higher dividend yield at 1.67%, compared with 0.00% for UGA.
DEXC is categorized as Emerging Markets Equities, while UGA is Oil & Gas. They also come from different issuers: Dimensional and USCF. Their fees differ too: 0.43% for DEXC and 1.02% for UGA.
UGA currently has the higher Sharpe Ratio (2.32 vs 1.50), 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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