DWAW vs. UGA
DWAW (AdvisorShares Dorsey Wright FSM All Cap World ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - DWAW is a Large Cap Growth Equities fund actively managed by AdvisorShares, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. DWAW is actively managed, while UGA is passively managed. Over the past 5 years, DWAW returned 7.39%/yr vs 25.18%/yr for UGA. At a 0.14 correlation, their price movements are largely independent. DWAW charges 1.24%/yr vs 0.75%/yr for UGA.
Performance
DWAW vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, DWAW achieves a 16.75% return, which is significantly lower than UGA's 75.83% return.
DWAW
- 1D
- 0.91%
- 1M
- 8.79%
- YTD
- 16.75%
- 6M
- 18.34%
- 1Y
- 27.08%
- 3Y*
- 19.78%
- 5Y*
- 7.39%
- 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%
DWAW vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
DWAW AdvisorShares Dorsey Wright FSM All Cap World ETF | 16.75% | 10.85% | 18.48% | 11.18% | -17.80% | 3.49% | 48.87% | -0.38% |
UGA United States Gasoline Fund LP | 75.83% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | -2.75% |
Correlation
The correlation between DWAW and UGA is -0.30, 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 | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 2019 | 0.14 |
The correlation between DWAW and UGA shifts across timeframes, from -0.30 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DWAW vs. UGA — Risk / Return Rank
DWAW
UGA
DWAW vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Dorsey Wright FSM All Cap World ETF (DWAW) 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.
| DWAW | UGA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.75 | 2.35 | -0.60 |
Sortino ratioReturn per unit of downside risk | 2.45 | 2.78 | -0.33 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.38 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 2.42 | 5.82 | -3.40 |
Martin ratioReturn relative to average drawdown | 9.83 | 14.25 | -4.42 |
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
| DWAW | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.75 | 2.35 | -0.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.74 | -0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.12 | +0.45 |
Drawdowns
DWAW vs. UGA - Drawdown Comparison
The maximum DWAW drawdown since its inception was -31.55%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for DWAW and UGA.
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Drawdown Indicators
| DWAW | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.55% | -86.59% | +55.04% |
Max Drawdown (1Y)Largest decline over 1 year | -11.58% | -14.88% | +3.30% |
Max Drawdown (3Y)Largest decline over 3 years | -22.91% | -26.68% | +3.77% |
Max Drawdown (5Y)Largest decline over 5 years | -28.43% | -38.11% | +9.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | 0.00% | -12.18% | +12.18% |
Average DrawdownAverage peak-to-trough decline | -10.99% | -36.77% | +25.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.85% | 6.08% | -3.23% |
Volatility
DWAW vs. UGA - Volatility Comparison
The current volatility for AdvisorShares Dorsey Wright FSM All Cap World ETF (DWAW) is 5.45%, while United States Gasoline Fund LP (UGA) has a volatility of 12.41%. This indicates that DWAW 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
| DWAW | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.45% | 12.41% | -6.96% |
Volatility (6M)Calculated over the trailing 6-month period | 12.98% | 30.41% | -17.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.58% | 35.21% | -19.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.13% | 34.38% | -15.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.42% | 37.27% | -14.85% |
DWAW vs. UGA - Expense Ratio Comparison
DWAW has a 1.24% expense ratio, which is higher than UGA's 0.75% expense ratio.
Dividends
DWAW vs. UGA - Dividend Comparison
DWAW's dividend yield for the trailing twelve months is around 0.65%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
DWAW AdvisorShares Dorsey Wright FSM All Cap World ETF | 0.65% | 0.76% | 0.00% | 1.70% | 0.53% | 1.45% | 0.16% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DWAW and UGA have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (12.41%) compared to DWAW (5.45%). In terms of maximum drawdown, DWAW dropped -31.55% vs UGA's -86.59%.
On 5-year performance, UGA leads with 25.18% vs 7.39% for DWAW. On fees, UGA is cheaper at 0.75% per year. On volatility, DWAW has been the lower-risk option at 5.45%. 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 25.18% return vs 7.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UGA is cheaper with a 0.75% expense ratio, compared with 1.24% for DWAW.
DWAW has the higher dividend yield at 0.65%, compared with 0.00% for UGA.
DWAW is categorized as Large Cap Growth Equities, while UGA is Oil & Gas. They also come from different issuers: AdvisorShares and Concierge Technologies. Their fees differ too: 1.24% for DWAW and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.35 vs 1.75), 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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