ESIX vs. UGA

Last updated Jun 25, 2026

ESIX (SPDR S&P SmallCap 600 ESG ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - ESIX is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 ESG Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. At a 0.07 correlation, their price movements are largely independent. ESIX charges 0.12%/yr vs 0.75%/yr for UGA.

Performance

ESIX vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P SmallCap 600 ESG ETF (ESIX) and United States Gasoline Fund LP (UGA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ESIX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UGA

• 1D: -2.77%
• 1M: -14.54%
• YTD: 59.54%
• 6M: 55.91%
• 1Y: 62.68%
• 3Y*: 17.85%
• 5Y*: 22.22%
• 10Y*: 13.99%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ESIX vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ESIX SPDR S&P SmallCap 600 ESG ETF	10.83%	1.83%	9.66%	17.51%	-13.44%
UGA United States Gasoline Fund LP	59.54%	-2.00%	3.77%	1.27%	42.75%

Correlation

The correlation between ESIX and UGA is -0.22, 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	-0.22
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Jan 11, 2022	0.07

The correlation between ESIX and UGA shifts across timeframes, from -0.22 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ESIX vs. UGA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ESIX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

UGA

UGA Risk / Return Rank: 60
UGA Sharpe Ratio Rank: 62
UGA Sortino Ratio Rank: 54
UGA Omega Ratio Rank: 55
UGA Calmar Ratio Rank: 69
UGA Martin Ratio Rank: 60

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ESIX vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P SmallCap 600 ESG ETF (ESIX) 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.

	ESIX	UGA	Difference
Sharpe ratio: Return per unit of total volatility	—	1.83	—
Sortino ratio: Return per unit of downside risk	—	2.35	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	3.10	—
Martin ratio: Return relative to average drawdown	—	9.66	—

Drawdowns

Drawdown Indicators

	ESIX	UGA	Difference
Max Drawdown Largest peak-to-trough decline	—	-86.59%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-20.32%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.68%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.89%	—
Current Drawdown Current decline from peak	—	-20.32%	—
Average Drawdown Average peak-to-trough decline	—	-36.69%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.51%	—

Volatility

Volatility by Period

	ESIX	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.45%	—
Volatility (6M) Calculated over the trailing 6-month period	—	30.74%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	34.84%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	34.47%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	37.22%	—

ESIX vs. UGA - Expense Ratio Comparison

ESIX has a 0.12% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

ESIX vs. UGA - Dividend Comparison

ESIX's dividend yield for the trailing twelve months is around 1.05%, while UGA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
ESIX SPDR S&P SmallCap 600 ESG ETF	1.05%	1.64%	1.65%	1.69%	1.54%
UGA United States Gasoline Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ESIX and UGA in my portfolio?

ESIX and UGA have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESIX or UGA?

On fees, ESIX is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ESIX or UGA?

ESIX is cheaper with a 0.12% expense ratio, compared with 0.75% for UGA.

Which ETF pays a higher dividend yield, ESIX or UGA?

ESIX has the higher dividend yield at 1.05%, compared with 0.00% for UGA.

What is the main difference between ESIX and UGA?

ESIX is categorized as Small Cap Blend Equities, while UGA is Oil & Gas. ESIX tracks S&P SmallCap 600 ESG Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: State Street and Concierge Technologies. Their fees differ too: 0.12% for ESIX and 0.75% for UGA.