EMQQ vs. UGA
EMQQ (EMQQ The Emerging Markets Internet ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - EMQQ is a Emerging Markets Equities fund tracking the EMQQ The Emerging Markets Internet Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, EMQQ returned 4.58%/yr vs 14.43%/yr for UGA. At a 0.15 correlation, their price movements are largely independent. EMQQ charges 0.86%/yr vs 0.75%/yr for UGA.
Performance
EMQQ vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, EMQQ achieves a -19.80% return, which is significantly lower than UGA's 75.49% return. Over the past 10 years, EMQQ has underperformed UGA with an annualized return of 4.58%, while UGA has yielded a comparatively higher 14.43% annualized return.
EMQQ
- 1D
- -2.68%
- 1M
- -5.01%
- YTD
- -19.80%
- 6M
- -21.08%
- 1Y
- -15.68%
- 3Y*
- 5.24%
- 5Y*
- -11.29%
- 10Y*
- 4.58%
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%
EMQQ vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMQQ EMQQ The Emerging Markets Internet ETF | -19.80% | 20.66% | 13.79% | 4.48% | -30.70% | -32.53% | 80.45% | 33.86% | -29.82% | 68.20% |
UGA United States Gasoline Fund LP | 75.49% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 1.69% |
Correlation
The correlation between EMQQ and UGA is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2014 | 0.15 |
The correlation between EMQQ and UGA shifts across timeframes, from -0.25 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EMQQ vs. UGA — Risk / Return Rank
EMQQ
UGA
EMQQ vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for EMQQ The Emerging Markets Internet ETF (EMQQ) 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.
| EMQQ | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.08 | ||
| Sortino ratioReturn per unit of downside risk | -3.76 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.37 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | 5.47 | -5.99 |
| Martin ratioReturn relative to average drawdown | -1.04 | 13.25 | -14.29 |
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
| EMQQ | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.76 | 2.32 | -3.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | 0.73 | -1.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.15 | 0.39 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.12 | -0.03 |
Drawdowns
EMQQ vs. UGA - Drawdown Comparison
The maximum EMQQ drawdown since its inception was -73.24%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for EMQQ and UGA.
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Drawdown Indicators
| EMQQ | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.24% | -86.59% | +13.35% |
Max Drawdown (1Y)Largest decline over 1 year | -29.96% | -14.88% | -15.08% |
Max Drawdown (3Y)Largest decline over 3 years | -29.96% | -26.68% | -3.28% |
Max Drawdown (5Y)Largest decline over 5 years | -66.31% | -38.11% | -28.20% |
Max Drawdown (10Y)Largest decline over 10 years | -73.24% | -75.89% | +2.65% |
Current DrawdownCurrent decline from peak | -57.75% | -12.35% | -45.40% |
Average DrawdownAverage peak-to-trough decline | -31.36% | -36.76% | +5.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.04% | 6.13% | +8.91% |
Volatility
EMQQ vs. UGA - Volatility Comparison
The current volatility for EMQQ The Emerging Markets Internet ETF (EMQQ) is 7.04%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that EMQQ 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
| EMQQ | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.04% | 11.66% | -4.62% |
Volatility (6M)Calculated over the trailing 6-month period | 16.37% | 30.41% | -14.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.59% | 35.14% | -14.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.12% | 34.38% | -1.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.61% | 37.27% | -6.66% |
EMQQ vs. UGA - Expense Ratio Comparison
EMQQ has a 0.86% expense ratio, which is higher than UGA's 0.75% expense ratio.
Dividends
EMQQ vs. UGA - Dividend Comparison
EMQQ's dividend yield for the trailing twelve months is around 3.85%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMQQ EMQQ The Emerging Markets Internet ETF | 3.85% | 3.09% | 1.70% | 0.79% | 0.00% | 0.00% | 0.18% | 1.29% | 0.00% | 0.94% | 0.75% | 0.08% |
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
EMQQ and UGA have a correlation of -0.25, 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 EMQQ (7.04%). In terms of maximum drawdown, EMQQ dropped -73.24% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.43% vs 4.58% for EMQQ. On fees, UGA is cheaper at 0.75% per year. On volatility, EMQQ has been the lower-risk option at 7.04%. 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 14.43% return vs 4.58%. 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 0.86% for EMQQ.
EMQQ has the higher dividend yield at 3.85%, compared with 0.00% for UGA.
EMQQ is categorized as Emerging Markets Equities, while UGA is Oil & Gas. EMQQ tracks EMQQ The Emerging Markets Internet Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Exchange Traded Concepts and Concierge Technologies. Their fees differ too: 0.86% for EMQQ and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.32 vs -0.76), 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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