ECH vs. UGA
ECH (iShares MSCI Chile ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - ECH is a Foreign Large Cap Equities fund tracking the MSCI Chile Investable Market Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, ECH returned 4.49%/yr vs 14.31%/yr for UGA. At a 0.23 correlation, their price movements are largely independent. ECH charges 0.59%/yr vs 0.75%/yr for UGA.
Performance
ECH vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, ECH achieves a 0.19% return, which is significantly lower than UGA's 64.09% return. Over the past 10 years, ECH has underperformed UGA with an annualized return of 4.49%, while UGA has yielded a comparatively higher 14.31% annualized return.
ECH
- 1D
- -2.38%
- 1M
- 0.47%
- YTD
- 0.19%
- 6M
- 1.60%
- 1Y
- 35.27%
- 3Y*
- 14.56%
- 5Y*
- 10.67%
- 10Y*
- 4.49%
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%
ECH vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ECH iShares MSCI Chile ETF | 0.19% | 65.41% | -8.67% | 9.01% | 25.12% | -19.80% | -7.13% | -17.79% | -18.98% | 41.79% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 1.69% |
Correlation
The correlation between ECH and UGA is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2008 | 0.23 |
The correlation between ECH and UGA shifts across timeframes, from -0.28 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ECH vs. UGA — Risk / Return Rank
ECH
UGA
ECH vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Chile ETF (ECH) 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.
| ECH | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | 3.17 | -1.37 |
| Martin ratioReturn relative to average drawdown | 4.20 | 9.39 | -5.19 |
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Drawdowns
ECH vs. UGA - Drawdown Comparison
The maximum ECH drawdown since its inception was -74.08%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for ECH and UGA.
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Drawdown Indicators
| ECH | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.08% | -86.59% | +12.51% |
Max Drawdown (1Y)Largest decline over 1 year | -19.74% | -18.96% | -0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -25.59% | -26.68% | +1.09% |
Max Drawdown (5Y)Largest decline over 5 years | -25.59% | -38.11% | +12.52% |
Max Drawdown (10Y)Largest decline over 10 years | -66.89% | -75.89% | +9.00% |
Current DrawdownCurrent decline from peak | -25.55% | -18.05% | -7.50% |
Average DrawdownAverage peak-to-trough decline | -37.48% | -36.69% | -0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.42% | 6.43% | +1.99% |
Volatility
ECH vs. UGA - Volatility Comparison
iShares MSCI Chile ETF (ECH) and United States Gasoline Fund LP (UGA) have volatilities of 8.96% and 9.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ECH | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.96% | 9.24% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 21.27% | 30.57% | -9.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.61% | 35.22% | -9.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.64% | 34.45% | -6.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.24% | 37.22% | -9.98% |
ECH vs. UGA - Expense Ratio Comparison
ECH has a 0.59% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
ECH vs. UGA - Dividend Comparison
ECH's dividend yield for the trailing twelve months is around 1.97%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECH iShares MSCI Chile ETF | 1.97% | 2.01% | 3.12% | 4.77% | 6.73% | 5.49% | 2.16% | 2.47% | 2.37% | 1.42% | 1.85% | 2.13% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ECH and UGA have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (9.24%) compared to ECH (8.96%). In terms of maximum drawdown, ECH dropped -74.08% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.31% vs 4.49% for ECH. On fees, ECH is cheaper at 0.59% per year. On volatility, ECH has been the lower-risk option at 8.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UGA has performed better with a 14.31% return vs 4.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ECH is cheaper with a 0.59% expense ratio, compared with 0.75% for UGA.
ECH has the higher dividend yield at 1.97%, compared with 0.00% for UGA.
ECH is categorized as Foreign Large Cap Equities, while UGA is Oil & Gas. ECH tracks MSCI Chile Investable Market Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.59% for ECH and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs 1.38), 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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