EDC vs. UGA
EDC (Direxion Daily Emerging Markets Bull 3X Shares) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - EDC is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (300%), while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, EDC returned 8.13%/yr vs 14.31%/yr for UGA. At a 0.29 correlation, their price movements are largely independent. EDC charges 1.33%/yr vs 0.75%/yr for UGA.
Performance
EDC vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, EDC achieves a 55.46% return, which is significantly lower than UGA's 64.09% return. Over the past 10 years, EDC has underperformed UGA with an annualized return of 8.13%, while UGA has yielded a comparatively higher 14.31% annualized return.
EDC
- 1D
- -17.43%
- 1M
- 1.18%
- YTD
- 55.46%
- 6M
- 58.75%
- 1Y
- 138.81%
- 3Y*
- 45.52%
- 5Y*
- -2.63%
- 10Y*
- 8.13%
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%
EDC vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EDC Direxion Daily Emerging Markets Bull 3X Shares | 55.46% | 94.58% | -2.00% | 7.48% | -60.25% | -20.81% | 6.49% | 43.92% | -49.87% | 138.61% |
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 EDC and UGA is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 2008 | 0.29 |
The correlation between EDC and UGA shifts across timeframes, from -0.21 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EDC vs. UGA — Risk / Return Rank
EDC
UGA
EDC vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Emerging Markets Bull 3X Shares (EDC) 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.
| EDC | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.30 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.68 | 3.17 | +0.51 |
| Martin ratioReturn relative to average drawdown | 12.31 | 9.39 | +2.91 |
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Drawdowns
EDC vs. UGA - Drawdown Comparison
The maximum EDC drawdown since its inception was -92.54%, which is greater than UGA's maximum drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for EDC and UGA.
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Drawdown Indicators
| EDC | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.54% | -86.59% | -5.95% |
Max Drawdown (1Y)Largest decline over 1 year | -37.98% | -18.96% | -19.02% |
Max Drawdown (3Y)Largest decline over 3 years | -49.48% | -26.68% | -22.80% |
Max Drawdown (5Y)Largest decline over 5 years | -80.70% | -38.11% | -42.59% |
Max Drawdown (10Y)Largest decline over 10 years | -87.01% | -75.89% | -11.12% |
Current DrawdownCurrent decline from peak | -67.00% | -18.05% | -48.95% |
Average DrawdownAverage peak-to-trough decline | -65.34% | -36.69% | -28.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.33% | 6.43% | +4.90% |
Volatility
EDC vs. UGA - Volatility Comparison
Direxion Daily Emerging Markets Bull 3X Shares (EDC) has a higher volatility of 39.16% compared to United States Gasoline Fund LP (UGA) at 9.24%. This indicates that EDC's price experiences larger fluctuations and is considered to be riskier 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
| EDC | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 39.16% | 9.24% | +29.92% |
Volatility (6M)Calculated over the trailing 6-month period | 62.81% | 30.57% | +32.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.25% | 35.22% | +33.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.62% | 34.45% | +24.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.23% | 37.22% | +24.01% |
EDC vs. UGA - Expense Ratio Comparison
EDC has a 1.33% expense ratio, which is higher than UGA's 0.75% expense ratio.
Dividends
EDC vs. UGA - Dividend Comparison
EDC's dividend yield for the trailing twelve months is around 1.10%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EDC Direxion Daily Emerging Markets Bull 3X Shares | 1.10% | 1.79% | 3.94% | 3.54% | 0.00% | 0.18% | 0.44% | 0.97% | 0.78% | 0.25% |
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% |
Frequently Asked Questions
EDC and UGA have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EDC has higher volatility (39.16%) compared to UGA (9.24%). In terms of maximum drawdown, EDC dropped -92.54% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.31% vs 8.13% for EDC. On fees, UGA is cheaper at 0.75% per year. On volatility, UGA has been the lower-risk option at 9.24%. 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 8.13%. 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 1.33% for EDC.
EDC has the higher dividend yield at 1.10%, compared with 0.00% for UGA.
EDC is categorized as Leveraged Equities, while UGA is Oil & Gas. EDC tracks MSCI Emerging Markets Index (300%), while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Direxion and Concierge Technologies. Their fees differ too: 1.33% for EDC and 0.75% for UGA.
EDC currently has the higher Sharpe Ratio (2.05 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.
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