DFAU vs. UGA
DFAU (Dimensional US Core Equity Market ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - DFAU is a Large Cap Blend Equities fund actively managed by Dimensional, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. DFAU is actively managed, while UGA is passively managed. Over the past 5 years, DFAU returned 13.39%/yr vs 24.13%/yr for UGA. At a 0.10 correlation, their price movements are largely independent. DFAU charges 0.12%/yr vs 0.75%/yr for UGA.
Performance
DFAU vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, DFAU achieves a 10.85% return, which is significantly lower than UGA's 65.71% return.
DFAU
- 1D
- 1.07%
- 1M
- 1.00%
- YTD
- 10.85%
- 6M
- 10.80%
- 1Y
- 27.85%
- 3Y*
- 20.31%
- 5Y*
- 13.39%
- 10Y*
- —
UGA
- 1D
- 2.13%
- 1M
- -11.24%
- YTD
- 65.71%
- 6M
- 65.60%
- 1Y
- 52.05%
- 3Y*
- 17.25%
- 5Y*
- 24.13%
- 10Y*
- 14.05%
DFAU vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DFAU Dimensional US Core Equity Market ETF | 10.85% | 16.78% | 23.17% | 24.79% | -16.99% | 26.89% | 4.87% |
UGA United States Gasoline Fund LP | 65.71% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | 22.62% |
Correlation
The correlation between DFAU and UGA is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2020 | 0.10 |
The correlation between DFAU and UGA shifts across timeframes, from -0.25 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DFAU vs. UGA — Risk / Return Rank
DFAU
UGA
DFAU vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional US Core Equity Market ETF (DFAU) 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.
| DFAU | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.27 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.20 | 2.87 | +0.33 |
| Martin ratioReturn relative to average drawdown | 14.25 | 7.80 | +6.45 |
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Drawdowns
DFAU vs. UGA - Drawdown Comparison
The maximum DFAU drawdown since its inception was -23.61%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for DFAU and UGA.
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Drawdown Indicators
| DFAU | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.61% | -86.59% | +62.98% |
Max Drawdown (1Y)Largest decline over 1 year | -8.67% | -18.96% | +10.29% |
Max Drawdown (3Y)Largest decline over 3 years | -19.36% | -26.68% | +7.32% |
Max Drawdown (5Y)Largest decline over 5 years | -23.61% | -38.11% | +14.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -1.09% | -17.24% | +16.15% |
Average DrawdownAverage peak-to-trough decline | -4.96% | -36.70% | +31.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.94% | 6.97% | -5.03% |
Volatility
DFAU vs. UGA - Volatility Comparison
The current volatility for Dimensional US Core Equity Market ETF (DFAU) is 4.80%, while United States Gasoline Fund LP (UGA) has a volatility of 10.31%. This indicates that DFAU 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
| DFAU | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 10.31% | -5.51% |
Volatility (6M)Calculated over the trailing 6-month period | 9.92% | 30.57% | -20.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.61% | 35.23% | -22.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.11% | 34.45% | -17.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.78% | 37.25% | -20.47% |
DFAU vs. UGA - Expense Ratio Comparison
DFAU has a 0.12% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
DFAU vs. UGA - Dividend Comparison
DFAU's dividend yield for the trailing twelve months is around 0.90%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
DFAU Dimensional US Core Equity Market ETF | 0.90% | 0.95% | 1.10% | 1.29% | 1.40% | 1.00% | 0.13% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DFAU and UGA have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (10.31%) compared to DFAU (4.80%). In terms of maximum drawdown, DFAU dropped -23.61% vs UGA's -86.59%.
On 5-year performance, UGA leads with 24.13% vs 13.39% for DFAU. On fees, DFAU is cheaper at 0.12% per year. On volatility, DFAU has been the lower-risk option at 4.80%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UGA has performed better with a 24.13% return vs 13.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DFAU is cheaper with a 0.12% expense ratio, compared with 0.75% for UGA.
DFAU has the higher dividend yield at 0.90%, compared with 0.00% for UGA.
DFAU is categorized as Large Cap Blend Equities, while UGA is Oil & Gas. They also come from different issuers: Dimensional and Concierge Technologies. Their fees differ too: 0.12% for DFAU and 0.75% for UGA.
DFAU currently has the higher Sharpe Ratio (2.20 vs 1.55), 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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