EPHE vs. UGA
EPHE (iShares MSCI Philippines ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - EPHE is a Asia Pacific Equities fund tracking the MSCI Philippines 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, EPHE returned -2.80%/yr vs 14.31%/yr for UGA. At a 0.14 correlation, their price movements are largely independent. EPHE charges 0.59%/yr vs 0.75%/yr for UGA.
Performance
EPHE vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, EPHE achieves a 1.87% return, which is significantly lower than UGA's 64.09% return. Over the past 10 years, EPHE has underperformed UGA with an annualized return of -2.80%, while UGA has yielded a comparatively higher 14.31% annualized return.
EPHE
- 1D
- 0.69%
- 1M
- 2.70%
- YTD
- 1.87%
- 6M
- 1.83%
- 1Y
- -1.42%
- 3Y*
- 1.74%
- 5Y*
- -2.44%
- 10Y*
- -2.80%
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%
EPHE vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EPHE iShares MSCI Philippines ETF | 1.87% | 1.56% | -1.41% | 1.27% | -15.87% | -2.23% | -3.95% | 8.50% | -17.50% | 20.20% |
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 EPHE and UGA is -0.31, 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 | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2010 | 0.14 |
The correlation between EPHE and UGA shifts across timeframes, from -0.31 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EPHE vs. UGA — Risk / Return Rank
EPHE
UGA
EPHE vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Philippines ETF (EPHE) 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.
| EPHE | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.80 | ||
| Sortino ratioReturn per unit of downside risk | -2.20 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.30 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 3.17 | -3.26 |
| Martin ratioReturn relative to average drawdown | -0.16 | 9.39 | -9.55 |
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Drawdowns
EPHE vs. UGA - Drawdown Comparison
The maximum EPHE drawdown since its inception was -53.82%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for EPHE and UGA.
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Drawdown Indicators
| EPHE | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.82% | -86.59% | +32.77% |
Max Drawdown (1Y)Largest decline over 1 year | -15.90% | -18.96% | +3.06% |
Max Drawdown (3Y)Largest decline over 3 years | -21.42% | -26.68% | +5.26% |
Max Drawdown (5Y)Largest decline over 5 years | -32.96% | -38.11% | +5.15% |
Max Drawdown (10Y)Largest decline over 10 years | -51.62% | -75.89% | +24.27% |
Current DrawdownCurrent decline from peak | -32.64% | -18.05% | -14.59% |
Average DrawdownAverage peak-to-trough decline | -21.02% | -36.69% | +15.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.76% | 6.43% | +2.33% |
Volatility
EPHE vs. UGA - Volatility Comparison
iShares MSCI Philippines ETF (EPHE) and United States Gasoline Fund LP (UGA) have volatilities of 9.46% 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
| EPHE | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.46% | 9.24% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 15.63% | 30.57% | -14.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.50% | 35.22% | -14.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.42% | 34.45% | -16.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.29% | 37.22% | -14.93% |
EPHE vs. UGA - Expense Ratio Comparison
EPHE has a 0.59% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
EPHE vs. UGA - Dividend Comparison
EPHE's dividend yield for the trailing twelve months is around 2.73%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPHE iShares MSCI Philippines ETF | 2.73% | 2.11% | 2.32% | 2.01% | 1.73% | 1.05% | 0.72% | 0.78% | 0.45% | 0.36% | 0.71% | 1.03% |
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
EPHE and UGA have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EPHE has higher volatility (9.46%) compared to UGA (9.24%). In terms of maximum drawdown, EPHE dropped -53.82% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.31% vs -2.80% for EPHE. On fees, EPHE is cheaper at 0.59% 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 -2.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EPHE is cheaper with a 0.59% expense ratio, compared with 0.75% for UGA.
EPHE has the higher dividend yield at 2.73%, compared with 0.00% for UGA.
EPHE is categorized as Asia Pacific Equities, while UGA is Oil & Gas. EPHE tracks MSCI Philippines 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 EPHE and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs -0.07), 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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