FAUG vs. UGA
FAUG (FT Cboe Vest U.S. Equity Buffer ETF - August) and UGA (United States Gasoline Fund, LP) are both exchange-traded funds - FAUG is a Defined Outcome fund tracking the Cboe S&P 500 Buffer Protect Index August, while UGA is a Oil & Gas fund tracking the Near-Month NYMEX RBOB Gasoline Futures Contract. Both are passively managed. Over the past 5 years, FAUG returned 9.13%/yr vs 24.07%/yr for UGA. Their 0.15 correlation means their historical movements had little consistent relationship. FAUG charges 0.85%/yr vs 1.02%/yr for UGA.
Performance
FAUG vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, FAUG achieves a 8.32% return, which is significantly lower than UGA's 72.77% return.
FAUG
- 1D
- 0.03%
- 1M
- 1.20%
- 6M
- 7.76%
- YTD
- 8.32%
- 1Y
- 14.87%
- 3Y*
- 13.96%
- 5Y*
- 9.13%
- 10Y*
- —
- ALL TIME*
- 9.94%
UGA
- 1D
- -0.56%
- 1M
- 0.07%
- 6M
- 54.03%
- YTD
- 72.77%
- 1Y
- 71.49%
- 3Y*
- 14.87%
- 5Y*
- 24.07%
- 10Y*
- 16.28%
- ALL TIME*
- 4.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $856.59K | $767.72K | $1.51M | |
| $8.67M | $6.11M | $4.99M |
FAUG vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FAUG FT Cboe Vest U.S. Equity Buffer ETF - August | 8.32% | 13.77% | 14.55% | 17.24% | -10.52% | 11.54% | 12.43% | 2.03% |
UGA United States Gasoline Fund, LP | 72.77% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 4.29% |
Correlation
The correlation between FAUG and UGA is -0.25, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.25 |
Correlation (3Y) Balances recent behavior with more history. | -0.07 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | 0.15 |
The correlation between FAUG and UGA shifts across timeframes, from -0.25 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FAUG vs. UGA — Risk / Return Rank
FAUG
UGA
FAUG vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Buffer ETF - August (FAUG) 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.
| FAUG | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.32 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 3.54 | -0.70 |
| Martin ratioReturn relative to average drawdown | 14.28 | 9.75 | +4.53 |
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Drawdowns
FAUG vs. UGA - Drawdown Comparison
The maximum FAUG drawdown since its inception was -22.33%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for FAUG and UGA.
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Drawdown Indicators
| FAUG | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.33% | -86.59% | +64.26% |
Max Drawdown (1Y)Largest decline over 1 year | -5.26% | -20.32% | +15.06% |
Max Drawdown (3Y)Largest decline over 3 years | -12.81% | -26.68% | +13.87% |
Max Drawdown (5Y)Largest decline over 5 years | -15.91% | -38.11% | +22.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | 0.00% | -14.67% | +14.67% |
Average DrawdownAverage peak-to-trough decline | -2.77% | -36.52% | +33.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 7.36% | -6.32% |
Volatility
FAUG vs. UGA - Volatility Comparison
The current volatility for FT Cboe Vest U.S. Equity Buffer ETF - August (FAUG) is 1.47%, while United States Gasoline Fund, LP (UGA) has a volatility of 13.00%. This indicates that FAUG 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
| FAUG | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 13.00% | -11.53% |
Volatility (6M)Calculated over the trailing 6-month period | 5.47% | 32.16% | -26.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.02% | 36.60% | -29.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.82% | 34.71% | -23.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.62% | 37.31% | -24.69% |
FAUG vs. UGA - Expense Ratio Comparison
FAUG has a 0.85% expense ratio, which is lower than UGA's 1.02% expense ratio.
Dividends
FAUG vs. UGA - Dividend Comparison
Neither FAUG nor UGA has paid dividends to shareholders.
Frequently Asked Questions
FAUG and UGA have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (13.00%) compared to FAUG (1.47%). In terms of maximum drawdown, FAUG dropped -22.33% vs UGA's -86.59%.
On 5-year performance, UGA leads with 24.07% vs 9.13% for FAUG. On fees, FAUG is cheaper at 0.85% per year. On volatility, FAUG has been the lower-risk option at 1.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UGA has performed better with a 24.07% return vs 9.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FAUG is cheaper with a 0.85% expense ratio, compared with 1.02% for UGA.
FAUG and UGA have nearly identical dividend yields, around 0.00%.
FAUG is categorized as Defined Outcome, while UGA is Oil & Gas. FAUG tracks Cboe S&P 500 Buffer Protect Index August, while UGA tracks Near-Month NYMEX RBOB Gasoline Futures Contract. They also come from different issuers: First Trust and USCF. Their fees differ too: 0.85% for FAUG and 1.02% for UGA.
FAUG currently has the higher Sharpe Ratio (2.13 vs 1.96), 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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