DFVX vs. UGA

Last updated Jun 3, 2026

DFVX (Dimensional US Large Cap Vector ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - DFVX is a Large Cap Value Equities fund actively managed by Dimensional, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. DFVX is actively managed, while UGA is passively managed. Over the past year, DFVX returned 26.10% vs 82.09% for UGA. At a correlation of -0.03, they often move in opposite directions. DFVX charges 0.22%/yr vs 0.75%/yr for UGA.

Performance

DFVX vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Large Cap Vector ETF (DFVX) 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, DFVX achieves a 11.47% return, which is significantly lower than UGA's 75.83% return.

DFVX

• 1D: 0.21%
• 1M: 3.03%
• YTD: 11.47%
• 6M: 12.46%
• 1Y: 26.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UGA

• 1D: 1.74%
• 1M: -8.95%
• YTD: 75.83%
• 6M: 64.53%
• 1Y: 82.09%
• 3Y*: 22.29%
• 5Y*: 25.18%
• 10Y*: 14.46%

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

DFVX vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DFVX Dimensional US Large Cap Vector ETF	11.47%	15.35%	17.72%	9.85%
UGA United States Gasoline Fund LP	75.83%	-2.00%	3.77%	-4.84%

Correlation

The correlation between DFVX and UGA is -0.24, 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	-0.24
Correlation (All Time) Calculated using the full available price history since Nov 3, 2023	-0.03

Over the past year, the inverse relationship between DFVX and UGA has strengthened: their correlation has moved from -0.03 to -0.24, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

DFVX vs. UGA — Risk / Return Rank

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

DFVX

DFVX Risk / Return Rank: 75
DFVX Sharpe Ratio Rank: 74
DFVX Sortino Ratio Rank: 75
DFVX Omega Ratio Rank: 72
DFVX Calmar Ratio Rank: 72
DFVX Martin Ratio Rank: 80

UGA

UGA Risk / Return Rank: 71
UGA Sharpe Ratio Rank: 70
UGA Sortino Ratio Rank: 58
UGA Omega Ratio Rank: 61
UGA Calmar Ratio Rank: 91
UGA Martin Ratio Rank: 74

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.

DFVX vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Large Cap Vector ETF (DFVX) 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.

	DFVX	UGA	Difference
Sharpe ratio Return per unit of total volatility	2.43	2.35	+0.09
Sortino ratio Return per unit of downside risk	3.41	2.78	+0.63
Omega ratio Gain probability vs. loss probability	1.44	1.38	+0.06
Calmar ratio Return relative to maximum drawdown	3.70	5.82	-2.13
Martin ratio Return relative to average drawdown	16.19	14.25	+1.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFVX vs. UGA - Sharpe Ratio Comparison

The current DFVX Sharpe Ratio is 2.43, which is comparable to the UGA Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of DFVX 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.

Sharpe Ratios by Period

	DFVX	UGA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	2.35	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.61	0.12	+1.49

Drawdowns

DFVX vs. UGA - Drawdown Comparison

The maximum DFVX drawdown since its inception was -16.71%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for DFVX and UGA.

Drawdown Indicators

	DFVX	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-16.71%	-86.59%	+69.88%
Max Drawdown (1Y) Largest decline over 1 year	-7.17%	-14.88%	+7.71%
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	-0.08%	-12.18%	+12.10%
Average Drawdown Average peak-to-trough decline	-1.79%	-36.77%	+34.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	6.08%	-4.44%

Volatility

DFVX vs. UGA - Volatility Comparison

The current volatility for Dimensional US Large Cap Vector ETF (DFVX) is 2.49%, while United States Gasoline Fund LP (UGA) has a volatility of 12.41%. This indicates that DFVX 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

	DFVX	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.49%	12.41%	-9.92%
Volatility (6M) Calculated over the trailing 6-month period	8.04%	30.41%	-22.37%
Volatility (1Y) Calculated over the trailing 1-year period	10.77%	35.21%	-24.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.67%	34.38%	-20.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.67%	37.27%	-23.60%

DFVX vs. UGA - Expense Ratio Comparison

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

Dividends

DFVX vs. UGA - Dividend Comparison

DFVX's dividend yield for the trailing twelve months is around 1.17%, while UGA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
DFVX Dimensional US Large Cap Vector ETF	1.17%	1.21%	1.22%	0.32%
UGA United States Gasoline Fund LP	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFVX and UGA in my portfolio?

DFVX and UGA have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFVX or UGA?

UGA has higher volatility (12.41%) compared to DFVX (2.49%). In terms of maximum drawdown, DFVX dropped -16.71% vs UGA's -86.59%.

Which ETF is better, DFVX or UGA?

On 1-year performance, UGA leads with 82.09% vs 26.10% for DFVX. On fees, DFVX is cheaper at 0.22% per year. On volatility, DFVX has been the lower-risk option at 2.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFVX or UGA?

Over the 1-year period, UGA has performed better with a 82.09% return vs 26.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFVX or UGA?

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

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

DFVX has the higher dividend yield at 1.17%, compared with 0.00% for UGA.

What is the main difference between DFVX and UGA?

DFVX 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: 0.22% for DFVX and 0.75% for UGA.

Which has better risk-adjusted returns?

DFVX currently has the higher Sharpe Ratio (2.43 vs 2.35), 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.