DFGP vs. UGA

Last updated Jun 24, 2026

DFGP (Dimensional Global Core Plus Fixed Income ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - DFGP is a Global Bonds fund actively managed by Dimensional, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. DFGP is actively managed, while UGA is passively managed. Over the past year, DFGP returned 4.00% vs 59.74% for UGA. At a correlation of -0.24, they often move in opposite directions. DFGP charges 0.22%/yr vs 0.75%/yr for UGA.

Performance

DFGP vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Global Core Plus Fixed Income ETF (DFGP) and United States Gasoline Fund LP (UGA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFGP achieves a 0.87% return, which is significantly lower than UGA's 64.09% return.

DFGP

• 1D: -0.65%
• 1M: 0.29%
• YTD: 0.87%
• 6M: 1.00%
• 1Y: 4.00%
• 3Y*: —
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DFGP vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DFGP Dimensional Global Core Plus Fixed Income ETF	0.87%	5.89%	3.71%	6.23%
UGA United States Gasoline Fund LP	64.09%	-2.00%	3.77%	-1.51%

Correlation

The correlation between DFGP and UGA is -0.43, 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	-0.43
Correlation (All Time) Calculated using the full available price history since Nov 8, 2023	-0.24

The correlation between DFGP and UGA shifts across timeframes, from -0.43 (1 year) to -0.24 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DFGP vs. UGA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DFGP

DFGP Risk / Return Rank: 28
DFGP Sharpe Ratio Rank: 29
DFGP Sortino Ratio Rank: 27
DFGP Omega Ratio Rank: 27
DFGP Calmar Ratio Rank: 26
DFGP Martin Ratio Rank: 31

UGA

UGA Risk / Return Rank: 55
UGA Sharpe Ratio Rank: 53
UGA Sortino Ratio Rank: 48
UGA Omega Ratio Rank: 49
UGA Calmar Ratio Rank: 67
UGA Martin Ratio Rank: 56

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DFGP vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Global Core Plus Fixed Income ETF (DFGP) 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.

	DFGP	UGA	Difference
Sharpe ratio: Return per unit of total volatility	0.99	1.73	-0.74
Sortino ratio: Return per unit of downside risk	1.44	2.25	-0.81
Omega ratio: Gain probability vs. loss probability	1.18	1.30	-0.12
Calmar ratio: Return relative to maximum drawdown	1.24	3.17	-1.93
Martin ratio: Return relative to average drawdown	4.15	9.39	-5.24

DFGP vs. UGA - Sharpe Ratio Comparison

The current DFGP Sharpe Ratio is 0.99, which is lower than the UGA Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of DFGP and UGA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DFGP vs. UGA - Drawdown Comparison

The maximum DFGP drawdown since its inception was -3.24%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for DFGP and UGA.

Drawdown Indicators

	DFGP	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-3.24%	-86.59%	+83.35%
Max Drawdown (1Y) Largest decline over 1 year	-3.24%	-18.96%	+15.72%
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 Drawdown Current decline from peak	-1.18%	-18.05%	+16.87%
Average Drawdown Average peak-to-trough decline	-0.78%	-36.69%	+35.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	6.43%	-5.46%

Volatility

DFGP vs. UGA - Volatility Comparison

The current volatility for Dimensional Global Core Plus Fixed Income ETF (DFGP) is 1.39%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that DFGP 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.

Volatility by Period

	DFGP	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.39%	9.24%	-7.85%
Volatility (6M) Calculated over the trailing 6-month period	3.42%	30.57%	-27.15%
Volatility (1Y) Calculated over the trailing 1-year period	4.06%	35.22%	-31.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.67%	34.45%	-29.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.67%	37.22%	-32.55%

DFGP vs. UGA - Expense Ratio Comparison

DFGP has a 0.22% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

DFGP vs. UGA - Dividend Comparison

DFGP's dividend yield for the trailing twelve months is around 3.65%, while UGA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
DFGP Dimensional Global Core Plus Fixed Income ETF	3.65%	3.45%	4.51%	0.62%
UGA United States Gasoline Fund LP	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFGP and UGA in my portfolio?

DFGP and UGA have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFGP or UGA?

UGA has higher volatility (9.24%) compared to DFGP (1.39%). In terms of maximum drawdown, DFGP dropped -3.24% vs UGA's -86.59%.

Which ETF is better, DFGP or UGA?

On 1-year performance, UGA leads with 59.74% vs 4.00% for DFGP. On fees, DFGP is cheaper at 0.22% per year. On volatility, DFGP has been the lower-risk option at 1.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFGP or UGA?

Over the 1-year period, UGA has performed better with a 59.74% return vs 4.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFGP or UGA?

DFGP is cheaper with a 0.22% expense ratio, compared with 0.75% for UGA.

Which ETF pays a higher dividend yield, DFGP or UGA?

DFGP has the higher dividend yield at 3.65%, compared with 0.00% for UGA.

What is the main difference between DFGP and UGA?

DFGP is categorized as Global Bonds, while UGA is Oil & Gas. They also come from different issuers: Dimensional and Concierge Technologies. Their fees differ too: 0.22% for DFGP and 0.75% for UGA.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (1.73 vs 0.99), 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.