EPI vs. UGA
EPI (WisdomTree India Earnings Fund) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - EPI is a Asia Pacific Equities fund tracking the WisdomTree India Earnings Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, EPI returned 9.14%/yr vs 14.46%/yr for UGA. At a 0.20 correlation, their price movements are largely independent. EPI charges 0.84%/yr vs 0.75%/yr for UGA.
Performance
EPI vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, EPI achieves a -8.75% return, which is significantly lower than UGA's 75.83% return. Over the past 10 years, EPI has underperformed UGA with an annualized return of 9.14%, while UGA has yielded a comparatively higher 14.46% annualized return.
EPI
- 1D
- 0.05%
- 1M
- -2.45%
- YTD
- -8.75%
- 6M
- -7.57%
- 1Y
- -9.24%
- 3Y*
- 8.10%
- 5Y*
- 5.97%
- 10Y*
- 9.14%
UGA
- 1D
- 1.74%
- 1M
- -8.95%
- YTD
- 75.83%
- 6M
- 64.53%
- 1Y
- 82.09%
- 3Y*
- 22.29%
- 5Y*
- 25.18%
- 10Y*
- 14.46%
EPI vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EPI WisdomTree India Earnings Fund | -8.75% | 2.25% | 10.70% | 26.03% | -4.74% | 26.41% | 18.55% | 1.53% | -9.88% | 39.14% |
UGA United States Gasoline Fund LP | 75.83% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 1.69% |
Correlation
The correlation between EPI and UGA is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Feb 29, 2008 | 0.20 |
The correlation between EPI and UGA shifts across timeframes, from -0.28 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EPI vs. UGA — Risk / Return Rank
EPI
UGA
EPI vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree India Earnings Fund (EPI) 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.
| EPI | UGA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.62 | 2.35 | -2.97 |
Sortino ratioReturn per unit of downside risk | -0.81 | 2.78 | -3.59 |
Omega ratioGain probability vs. loss probability | 0.91 | 1.38 | -0.47 |
Calmar ratioReturn relative to maximum drawdown | -0.51 | 5.82 | -6.34 |
Martin ratioReturn relative to average drawdown | -1.27 | 14.25 | -15.52 |
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
| EPI | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.62 | 2.35 | -2.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.74 | -0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.39 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.12 | +0.02 |
Drawdowns
EPI vs. UGA - Drawdown Comparison
The maximum EPI drawdown since its inception was -66.21%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for EPI and UGA.
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Drawdown Indicators
| EPI | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.21% | -86.59% | +20.38% |
Max Drawdown (1Y)Largest decline over 1 year | -16.88% | -14.88% | -2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -21.89% | -26.68% | +4.79% |
Max Drawdown (5Y)Largest decline over 5 years | -21.89% | -38.11% | +16.22% |
Max Drawdown (10Y)Largest decline over 10 years | -50.29% | -75.89% | +25.60% |
Current DrawdownCurrent decline from peak | -16.66% | -12.18% | -4.48% |
Average DrawdownAverage peak-to-trough decline | -18.65% | -36.77% | +18.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.83% | 6.08% | +0.75% |
Volatility
EPI vs. UGA - Volatility Comparison
The current volatility for WisdomTree India Earnings Fund (EPI) is 4.79%, while United States Gasoline Fund LP (UGA) has a volatility of 12.41%. This indicates that EPI 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
| EPI | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.79% | 12.41% | -7.62% |
Volatility (6M)Calculated over the trailing 6-month period | 12.75% | 30.41% | -17.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.89% | 35.21% | -20.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.20% | 34.38% | -18.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.35% | 37.27% | -16.92% |
EPI vs. UGA - Expense Ratio Comparison
EPI has a 0.84% expense ratio, which is higher than UGA's 0.75% expense ratio.
Dividends
EPI vs. UGA - Dividend Comparison
Neither EPI nor UGA has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPI WisdomTree India Earnings Fund | 0.00% | 0.00% | 0.27% | 0.15% | 6.01% | 1.18% | 0.78% | 1.17% | 1.18% | 0.85% | 1.05% | 1.20% |
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
EPI and UGA have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (12.41%) compared to EPI (4.79%). In terms of maximum drawdown, EPI dropped -66.21% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.46% vs 9.14% for EPI. On fees, UGA is cheaper at 0.75% per year. On volatility, EPI has been the lower-risk option at 4.79%. 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 14.46% return vs 9.14%. 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 0.84% for EPI.
EPI and UGA have nearly identical dividend yields, around 0.00%.
EPI is categorized as Asia Pacific Equities, while UGA is Oil & Gas. EPI tracks WisdomTree India Earnings Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: WisdomTree and Concierge Technologies. Their fees differ too: 0.84% for EPI and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.35 vs -0.62), 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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