EETH vs. UGA

Last updated Jun 5, 2026

EETH (ProShares Ether Strategy ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - EETH is a Cryptocurrency fund actively managed by ProShares, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. EETH is actively managed, while UGA is passively managed. Over the past year, EETH returned -35.87% vs 79.48% for UGA. At a correlation of -0.04, they often move in opposite directions. EETH charges 0.95%/yr vs 0.75%/yr for UGA.

Performance

EETH vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ether Strategy ETF (EETH) 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, EETH achieves a -41.20% return, which is significantly lower than UGA's 70.69% return.

EETH

• 1D: -1.45%
• 1M: -25.38%
• YTD: -41.20%
• 6M: -44.62%
• 1Y: -35.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UGA

• 1D: -2.73%
• 1M: -12.25%
• YTD: 70.69%
• 6M: 59.72%
• 1Y: 79.48%
• 3Y*: 20.80%
• 5Y*: 24.41%
• 10Y*: 14.27%

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

EETH vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EETH ProShares Ether Strategy ETF	-41.20%	-17.19%	33.29%	35.44%
UGA United States Gasoline Fund LP	70.69%	-2.00%	3.77%	-10.58%

Correlation

The correlation between EETH and UGA is -0.10, 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	-0.10
Correlation (All Time) Calculated using the full available price history since Oct 3, 2023	-0.04

Return for Risk

EETH vs. UGA — Risk / Return Rank

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

EETH

EETH Risk / Return Rank: 5
EETH Sharpe Ratio Rank: 5
EETH Sortino Ratio Rank: 5
EETH Omega Ratio Rank: 5
EETH Calmar Ratio Rank: 4
EETH Martin Ratio Rank: 5

UGA

UGA Risk / Return Rank: 70
UGA Sharpe Ratio Rank: 71
UGA Sortino Ratio Rank: 58
UGA Omega Ratio Rank: 62
UGA Calmar Ratio Rank: 89
UGA Martin Ratio Rank: 70

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.

EETH vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ether Strategy ETF (EETH) 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.

	EETH	UGA	Difference
Sharpe ratio: Return per unit of total volatility	-0.52	2.27	-2.79
Sortino ratio: Return per unit of downside risk	-0.44	2.71	-3.15
Omega ratio: Gain probability vs. loss probability	0.95	1.37	-0.42
Calmar ratio: Return relative to maximum drawdown	-0.56	5.37	-5.93
Martin ratio: Return relative to average drawdown	-0.92	12.86	-13.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EETH vs. UGA - Sharpe Ratio Comparison

The current EETH Sharpe Ratio is -0.52, which is lower than the UGA Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of EETH 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

	EETH	UGA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.52	2.27	-2.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.71	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	0.12	-0.18

Drawdowns

EETH vs. UGA - Drawdown Comparison

The maximum EETH drawdown since its inception was -66.86%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for EETH and UGA.

Drawdown Indicators

	EETH	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-66.86%	-86.59%	+19.73%
Max Drawdown (1Y) Largest decline over 1 year	-64.70%	-14.88%	-49.82%
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	-64.70%	-14.75%	-49.95%
Average Drawdown Average peak-to-trough decline	-29.51%	-36.76%	+7.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.97%	6.20%	+32.77%

Volatility

EETH vs. UGA - Volatility Comparison

The current volatility for ProShares Ether Strategy ETF (EETH) is 9.70%, while United States Gasoline Fund LP (UGA) has a volatility of 11.64%. This indicates that EETH 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

	EETH	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.70%	11.64%	-1.94%
Volatility (6M) Calculated over the trailing 6-month period	45.46%	30.48%	+14.98%
Volatility (1Y) Calculated over the trailing 1-year period	68.71%	35.27%	+33.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.88%	34.40%	+34.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.88%	37.27%	+31.61%

EETH vs. UGA - Expense Ratio Comparison

EETH has a 0.95% expense ratio, which is higher than UGA's 0.75% expense ratio.

Dividends

EETH vs. UGA - Dividend Comparison

EETH's dividend yield for the trailing twelve months is around 90.35%, while UGA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
EETH ProShares Ether Strategy ETF	90.35%	56.98%	10.82%	0.52%
UGA United States Gasoline Fund LP	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EETH and UGA in my portfolio?

EETH and UGA have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EETH or UGA?

UGA has higher volatility (11.64%) compared to EETH (9.70%). In terms of maximum drawdown, EETH dropped -66.86% vs UGA's -86.59%.

Which ETF is better, EETH or UGA?

On 1-year performance, UGA leads with 79.48% vs -35.87% for EETH. On fees, UGA is cheaper at 0.75% per year. On volatility, EETH has been the lower-risk option at 9.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EETH or UGA?

Over the 1-year period, UGA has performed better with a 79.48% return vs -35.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EETH or UGA?

UGA is cheaper with a 0.75% expense ratio, compared with 0.95% for EETH.

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

EETH has the higher dividend yield at 90.35%, compared with 0.00% for UGA.

What is the main difference between EETH and UGA?

EETH is categorized as Cryptocurrency, while UGA is Oil & Gas. They also come from different issuers: ProShares and Concierge Technologies. Their fees differ too: 0.95% for EETH and 0.75% for UGA.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (2.27 vs -0.52), 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.