DIVZ vs. UGA
DIVZ (Opal Dividend Income ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - DIVZ is a Large Cap Value Equities fund actively managed by TrueShares, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. DIVZ is actively managed, while UGA is passively managed. Over the past 5 years, DIVZ returned 8.36%/yr vs 25.10%/yr for UGA. At a 0.21 correlation, their price movements are largely independent. DIVZ charges 0.65%/yr vs 0.75%/yr for UGA.
Performance
DIVZ vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, DIVZ achieves a 3.10% return, which is significantly lower than UGA's 75.49% return.
DIVZ
- 1D
- -0.26%
- 1M
- -0.16%
- YTD
- 3.10%
- 6M
- 3.41%
- 1Y
- 10.40%
- 3Y*
- 15.03%
- 5Y*
- 8.36%
- 10Y*
- —
UGA
- 1D
- -0.19%
- 1M
- -12.35%
- YTD
- 75.49%
- 6M
- 64.35%
- 1Y
- 80.94%
- 3Y*
- 22.21%
- 5Y*
- 25.10%
- 10Y*
- 14.43%
DIVZ vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DIVZ Opal Dividend Income ETF | 3.10% | 16.72% | 18.44% | -0.51% | 3.51% | 19.74% |
UGA United States Gasoline Fund LP | 75.49% | -2.00% | 3.77% | 1.27% | 46.34% | 51.09% |
Correlation
The correlation between DIVZ and UGA is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2021 | 0.21 |
The correlation between DIVZ and UGA shifts across timeframes, from -0.05 (1 year) to 0.21 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
DIVZ vs. UGA — Risk / Return Rank
DIVZ
UGA
DIVZ vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Opal Dividend Income ETF (DIVZ) 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.
| DIVZ | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.37 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 5.47 | -3.68 |
| Martin ratioReturn relative to average drawdown | 4.44 | 13.25 | -8.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DIVZ | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 2.32 | -1.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.73 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.89 | 0.12 | +0.77 |
Drawdowns
DIVZ vs. UGA - Drawdown Comparison
The maximum DIVZ drawdown since its inception was -15.42%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for DIVZ and UGA.
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Drawdown Indicators
| DIVZ | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.42% | -86.59% | +71.17% |
Max Drawdown (1Y)Largest decline over 1 year | -5.83% | -14.88% | +9.05% |
Max Drawdown (3Y)Largest decline over 3 years | -9.52% | -26.68% | +17.16% |
Max Drawdown (5Y)Largest decline over 5 years | -15.42% | -38.11% | +22.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -4.50% | -12.35% | +7.85% |
Average DrawdownAverage peak-to-trough decline | -3.49% | -36.76% | +33.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 6.13% | -3.78% |
Volatility
DIVZ vs. UGA - Volatility Comparison
The current volatility for Opal Dividend Income ETF (DIVZ) is 3.33%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that DIVZ 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
| DIVZ | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.33% | 11.66% | -8.33% |
Volatility (6M)Calculated over the trailing 6-month period | 7.02% | 30.41% | -23.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.28% | 35.14% | -25.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.65% | 34.38% | -21.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.57% | 37.27% | -24.70% |
DIVZ vs. UGA - Expense Ratio Comparison
DIVZ has a 0.65% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
DIVZ vs. UGA - Dividend Comparison
DIVZ's dividend yield for the trailing twelve months is around 2.60%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DIVZ Opal Dividend Income ETF | 2.60% | 2.60% | 2.63% | 3.66% | 3.23% | 3.83% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DIVZ and UGA have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.66%) compared to DIVZ (3.33%). In terms of maximum drawdown, DIVZ dropped -15.42% vs UGA's -86.59%.
On 5-year performance, UGA leads with 25.10% vs 8.36% for DIVZ. On fees, DIVZ is cheaper at 0.65% per year. On volatility, DIVZ has been the lower-risk option at 3.33%. 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 25.10% return vs 8.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIVZ is cheaper with a 0.65% expense ratio, compared with 0.75% for UGA.
DIVZ has the higher dividend yield at 2.60%, compared with 0.00% for UGA.
DIVZ is categorized as Large Cap Value Equities, while UGA is Oil & Gas. They also come from different issuers: TrueShares and Concierge Technologies. Their fees differ too: 0.65% for DIVZ and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.32 vs 1.13), 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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