EUAD vs. UGA

Last updated Jun 4, 2026

EUAD (Select STOXX Europe Aerospace & Defense ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - EUAD is a Aerospace & Defense fund tracking the STOXX Europe Total Market Aerospace & Defense Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past year, EUAD returned -3.68% vs 80.94% for UGA. At a correlation of -0.13, they often move in opposite directions. EUAD charges 0.50%/yr vs 0.75%/yr for UGA.

Performance

EUAD vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Select STOXX Europe Aerospace & Defense ETF (EUAD) and United States Gasoline Fund LP (UGA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EUAD achieves a -5.41% return, which is significantly lower than UGA's 75.49% return.

EUAD

• 1D: -1.53%
• 1M: -1.14%
• YTD: -5.41%
• 6M: -1.74%
• 1Y: -3.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UGA

• 1D: -0.19%
• 1M: -12.35%
• YTD: 75.49%
• 6M: 64.35%
• 1Y: 80.94%
• 3Y*: 22.21%
• 5Y*: 25.10%
• 10Y*: 14.43%

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

EUAD vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EUAD Select STOXX Europe Aerospace & Defense ETF	-5.41%	74.51%	-3.62%
UGA United States Gasoline Fund LP	75.49%	-2.00%	0.47%

Correlation

The correlation between EUAD and UGA is -0.21, 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	-0.21
Correlation (All Time) Calculated using the full available price history since Oct 23, 2024	-0.13

Return for Risk

EUAD vs. UGA — Risk / Return Rank

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

EUAD

EUAD Risk / Return Rank: 7
EUAD Sharpe Ratio Rank: 7
EUAD Sortino Ratio Rank: 7
EUAD Omega Ratio Rank: 7
EUAD Calmar Ratio Rank: 7
EUAD Martin Ratio Rank: 7

UGA

UGA Risk / Return Rank: 69
UGA Sharpe Ratio Rank: 69
UGA Sortino Ratio Rank: 57
UGA Omega Ratio Rank: 60
UGA Calmar Ratio Rank: 89
UGA Martin Ratio Rank: 71

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.

EUAD vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Select STOXX Europe Aerospace & Defense ETF (EUAD) 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.

	EUAD	UGA	Difference
Sharpe ratio: Return per unit of total volatility	-0.13	2.32	-2.44
Sortino ratio: Return per unit of downside risk	0.02	2.75	-2.73
Omega ratio: Gain probability vs. loss probability	1.00	1.37	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.17	5.47	-5.64
Martin ratio: Return relative to average drawdown	-0.41	13.25	-13.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EUAD vs. UGA - Sharpe Ratio Comparison

The current EUAD Sharpe Ratio is -0.13, which is lower than the UGA Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of EUAD and UGA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EUAD	UGA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.13	2.32	-2.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.73	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	0.12	+1.01

Drawdowns

EUAD vs. UGA - Drawdown Comparison

The maximum EUAD drawdown since its inception was -22.04%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for EUAD and UGA.

Drawdown Indicators

	EUAD	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-22.04%	-86.59%	+64.55%
Max Drawdown (1Y) Largest decline over 1 year	-22.04%	-14.88%	-7.16%
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	-17.46%	-12.35%	-5.11%
Average Drawdown Average peak-to-trough decline	-5.62%	-36.76%	+31.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.99%	6.13%	+2.86%

Volatility

EUAD vs. UGA - Volatility Comparison

Select STOXX Europe Aerospace & Defense ETF (EUAD) and United States Gasoline Fund LP (UGA) have volatilities of 11.32% and 11.66%, 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.

Volatility by Period

	EUAD	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.32%	11.66%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	24.20%	30.41%	-6.21%
Volatility (1Y) Calculated over the trailing 1-year period	29.14%	35.14%	-6.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.84%	34.38%	-4.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.84%	37.27%	-7.43%

EUAD vs. UGA - Expense Ratio Comparison

EUAD has a 0.50% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

EUAD vs. UGA - Dividend Comparison

EUAD's dividend yield for the trailing twelve months is around 0.42%, while UGA has not paid dividends to shareholders.

Position	TTM	2025	2024
EUAD Select STOXX Europe Aerospace & Defense ETF	0.42%	0.40%	0.10%
UGA United States Gasoline Fund LP	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EUAD and UGA in my portfolio?

EUAD and UGA have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EUAD or UGA?

UGA has higher volatility (11.66%) compared to EUAD (11.32%). In terms of maximum drawdown, EUAD dropped -22.04% vs UGA's -86.59%.

Which ETF is better, EUAD or UGA?

On 1-year performance, UGA leads with 80.94% vs -3.68% for EUAD. On fees, EUAD is cheaper at 0.50% per year. On volatility, EUAD has been the lower-risk option at 11.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EUAD or UGA?

Over the 1-year period, UGA has performed better with a 80.94% return vs -3.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EUAD or UGA?

EUAD is cheaper with a 0.50% expense ratio, compared with 0.75% for UGA.

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

EUAD has the higher dividend yield at 0.42%, compared with 0.00% for UGA.

What is the main difference between EUAD and UGA?

EUAD is categorized as Aerospace & Defense, while UGA is Oil & Gas. EUAD tracks STOXX Europe Total Market Aerospace & Defense Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Select Funds and Concierge Technologies. Their fees differ too: 0.50% for EUAD and 0.75% for UGA.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (2.32 vs -0.13), 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.