DFUV vs. UGA

Last updated Jun 24, 2026

DFUV (Dimensional US Marketwide Value ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - DFUV is a Large Cap Value Equities fund actively managed by Dimensional, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. DFUV is actively managed, while UGA is passively managed. Over the past 3 years, DFUV returned 19.49%/yr vs 18.95%/yr for UGA. At a 0.15 correlation, their price movements are largely independent. DFUV charges 0.21%/yr vs 0.75%/yr for UGA.

Performance

DFUV vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Marketwide Value ETF (DFUV) 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, DFUV achieves a 17.25% return, which is significantly lower than UGA's 64.09% return.

DFUV

• 1D: -1.22%
• 1M: 2.47%
• YTD: 17.25%
• 6M: 16.43%
• 1Y: 32.73%
• 3Y*: 19.49%
• 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)

DFUV vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFUV Dimensional US Marketwide Value ETF	17.25%	15.77%	11.79%	13.25%	-0.71%
UGA United States Gasoline Fund LP	64.09%	-2.00%	3.77%	1.27%	-11.53%

Correlation

The correlation between DFUV and UGA is -0.14, 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	-0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (All Time) Calculated using the full available price history since May 9, 2022	0.15

The correlation between DFUV and UGA shifts across timeframes, from -0.14 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DFUV vs. UGA — Risk / Return Rank

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

DFUV

DFUV Risk / Return Rank: 88
DFUV Sharpe Ratio Rank: 87
DFUV Sortino Ratio Rank: 87
DFUV Omega Ratio Rank: 83
DFUV Calmar Ratio Rank: 91
DFUV Martin Ratio Rank: 90

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.

DFUV vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Marketwide Value ETF (DFUV) 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.

	DFUV	UGA	Difference
Sharpe ratio: Return per unit of total volatility	2.70	1.73	+0.97
Sortino ratio: Return per unit of downside risk	3.73	2.25	+1.49
Omega ratio: Gain probability vs. loss probability	1.47	1.30	+0.18
Calmar ratio: Return relative to maximum drawdown	5.48	3.17	+2.31
Martin ratio: Return relative to average drawdown	19.67	9.39	+10.27

DFUV vs. UGA - Sharpe Ratio Comparison

The current DFUV Sharpe Ratio is 2.70, which is higher than the UGA Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of DFUV 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

DFUV vs. UGA - Drawdown Comparison

The maximum DFUV drawdown since its inception was -17.60%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for DFUV and UGA.

Drawdown Indicators

	DFUV	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-17.60%	-86.59%	+68.99%
Max Drawdown (1Y) Largest decline over 1 year	-6.01%	-18.96%	+12.95%
Max Drawdown (3Y) Largest decline over 3 years	-17.60%	-26.68%	+9.08%
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	-1.29%	-18.05%	+16.76%
Average Drawdown Average peak-to-trough decline	-3.61%	-36.69%	+33.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	6.43%	-4.76%

Volatility

DFUV vs. UGA - Volatility Comparison

The current volatility for Dimensional US Marketwide Value ETF (DFUV) is 4.21%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that DFUV 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

	DFUV	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	9.24%	-5.03%
Volatility (6M) Calculated over the trailing 6-month period	8.92%	30.57%	-21.65%
Volatility (1Y) Calculated over the trailing 1-year period	12.18%	35.22%	-23.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	34.45%	-18.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.27%	37.22%	-20.95%

DFUV vs. UGA - Expense Ratio Comparison

DFUV has a 0.21% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

DFUV vs. UGA - Dividend Comparison

DFUV's dividend yield for the trailing twelve months is around 1.35%, while UGA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
DFUV Dimensional US Marketwide Value ETF	1.35%	1.55%	1.64%	1.72%	1.34%
UGA United States Gasoline Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFUV and UGA in my portfolio?

DFUV and UGA have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFUV or UGA?

UGA has higher volatility (9.24%) compared to DFUV (4.21%). In terms of maximum drawdown, DFUV dropped -17.60% vs UGA's -86.59%.

Which ETF is better, DFUV or UGA?

On 3-year performance, DFUV leads with 19.49% vs 18.95% for UGA. On fees, DFUV is cheaper at 0.21% per year. On volatility, DFUV has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFUV or UGA?

Over the 3-year period, DFUV has performed better with a 19.49% return vs 18.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFUV or UGA?

DFUV is cheaper with a 0.21% expense ratio, compared with 0.75% for UGA.

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

DFUV has the higher dividend yield at 1.35%, compared with 0.00% for UGA.

What is the main difference between DFUV and UGA?

DFUV is categorized as Large Cap Value Equities, while UGA is Oil & Gas. They also come from different issuers: Dimensional and Concierge Technologies. Their fees differ too: 0.21% for DFUV and 0.75% for UGA.

Which has better risk-adjusted returns?

DFUV currently has the higher Sharpe Ratio (2.70 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.