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 4.32%/yr vs 14.31%/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 -24.03% return, which is significantly lower than UGA's 64.09% return. Over the past 10 years, EMQQ has underperformed UGA with an annualized return of 4.32%, while UGA has yielded a comparatively higher 14.31% annualized return.
EMQQ
- 1D
- -2.14%
- 1M
- -5.28%
- YTD
- -24.03%
- 6M
- -23.90%
- 1Y
- -21.65%
- 3Y*
- 3.56%
- 5Y*
- -12.41%
- 10Y*
- 4.32%
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%
EMQQ vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMQQ EMQQ The Emerging Markets Internet ETF | -24.03% | 20.66% | 13.79% | 4.48% | -30.70% | -32.53% | 80.45% | 33.86% | -29.82% | 68.20% |
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 EMQQ and UGA is -0.24, 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 | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2014 | 0.15 |
The correlation between EMQQ and UGA shifts across timeframes, from -0.24 (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.
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.
| EMQQ | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.78 | ||
| Sortino ratioReturn per unit of downside risk | -3.72 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.30 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 3.17 | -3.83 |
| Martin ratioReturn relative to average drawdown | -1.31 | 9.39 | -10.70 |
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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 | -32.55% | -18.96% | -13.59% |
Max Drawdown (3Y)Largest decline over 3 years | -32.55% | -26.68% | -5.87% |
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 | -59.98% | -18.05% | -41.93% |
Average DrawdownAverage peak-to-trough decline | -31.47% | -36.69% | +5.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.56% | 6.43% | +10.13% |
Volatility
EMQQ vs. UGA - Volatility Comparison
The current volatility for EMQQ The Emerging Markets Internet ETF (EMQQ) is 5.99%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. 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 | 5.99% | 9.24% | -3.25% |
Volatility (6M)Calculated over the trailing 6-month period | 16.76% | 30.57% | -13.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.77% | 35.22% | -14.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.14% | 34.45% | -1.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.61% | 37.22% | -6.61% |
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 4.07%, 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 | 4.07% | 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 -0.24, 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 EMQQ (5.99%). In terms of maximum drawdown, EMQQ dropped -73.24% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.31% vs 4.32% for EMQQ. On fees, UGA is cheaper at 0.75% per year. On volatility, EMQQ has been the lower-risk option at 5.99%. 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 4.32%. 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 4.07%, 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 (1.73 vs -1.05), 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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