EPI vs. UGA
EPI (WisdomTree India Earnings Fund) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - EPI is a India 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 8.67%/yr vs 17.13%/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 -8.86% return, which is significantly lower than UGA's 88.71% return. Over the past 10 years, EPI has underperformed UGA with an annualized return of 8.67%, while UGA has yielded a comparatively higher 17.13% annualized return.
EPI
- 1D
- -0.19%
- 1M
- -1.59%
- 6M
- -7.70%
- YTD
- -8.86%
- 1Y
- -10.42%
- 3Y*
- 5.67%
- 5Y*
- 5.95%
- 10Y*
- 8.67%
UGA
- 1D
- -0.85%
- 1M
- 16.18%
- 6M
- 81.39%
- YTD
- 88.71%
- 1Y
- 85.57%
- 3Y*
- 21.50%
- 5Y*
- 26.58%
- 10Y*
- 17.13%
EPI vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EPI WisdomTree India Earnings Fund | -8.86% | 2.25% | 10.70% | 26.03% | -4.74% | 26.41% | 18.55% | 1.53% | -9.88% | 39.14% |
UGA United States Gasoline Fund LP | 88.71% | -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 -0.30, 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 | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2008 | 0.20 |
The correlation between EPI and UGA shifts across timeframes, from -0.30 (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.
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.
| EPI | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.09 | ||
| Sortino ratioReturn per unit of downside risk | -3.81 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.38 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 4.23 | -4.90 |
| Martin ratioReturn relative to average drawdown | -1.57 | 11.76 | -13.33 |
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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 | -15.69% | -20.32% | +4.63% |
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 | -16.76% | -5.75% | -11.01% |
Average DrawdownAverage peak-to-trough decline | -18.63% | -36.61% | +17.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.90% | 7.30% | -0.40% |
Volatility
EPI vs. UGA - Volatility Comparison
The current volatility for WisdomTree India Earnings Fund (EPI) is 3.70%, while United States Gasoline Fund LP (UGA) has a volatility of 11.35%. 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 | 3.70% | 11.35% | -7.65% |
Volatility (6M)Calculated over the trailing 6-month period | 13.05% | 31.71% | -18.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.26% | 35.83% | -20.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.27% | 34.67% | -18.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.26% | 37.23% | -16.97% |
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 -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.35%) compared to EPI (3.70%). In terms of maximum drawdown, EPI dropped -66.21% vs UGA's -86.59%.
On 10-year performance, UGA leads with 17.13% vs 8.67% for EPI. On fees, UGA is cheaper at 0.75% per year. On volatility, EPI has been the lower-risk option at 3.70%. 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 17.13% return vs 8.67%. 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 India 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 (2.40 vs -0.69), 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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