FCSH vs. UGA
FCSH (Federated Hermes Short Duration Corporate ETF) and UGA (United States Gasoline Fund, LP) are both exchange-traded funds - FCSH is a Short-Term Bond fund actively managed by Federated, while UGA is a Oil & Gas fund tracking the Near-Month NYMEX RBOB Gasoline Futures Contract. FCSH is actively managed, while UGA is passively managed. Over the past 3 years, FCSH returned 5.00%/yr vs 16.66%/yr for UGA. Their -0.10 correlation means they have often moved in opposite directions in the past. FCSH charges 0.30%/yr vs 1.02%/yr for UGA.
Performance
FCSH vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, FCSH achieves a 0.65% return, which is significantly lower than UGA's 80.98% return.
FCSH
- 1D
- 0.17%
- 1M
- -0.14%
- 6M
- 0.41%
- YTD
- 0.65%
- 1Y
- 2.76%
- 3Y*
- 5.00%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.35%
UGA
- 1D
- -5.27%
- 1M
- 8.52%
- 6M
- 69.92%
- YTD
- 80.98%
- 1Y
- 78.20%
- 3Y*
- 16.66%
- 5Y*
- 25.31%
- 10Y*
- 16.82%
- ALL TIME*
- 4.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $23.61K | $21.88K | $31.43K | |
| $8.16M | $5.91M | $4.98M |
FCSH vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FCSH Federated Hermes Short Duration Corporate ETF | 0.65% | 6.42% | 4.66% | 5.45% | -5.87% | 0.08% |
UGA United States Gasoline Fund, LP | 80.98% | -2.00% | 3.77% | 1.27% | 46.34% | 2.71% |
Correlation
The correlation between FCSH and UGA is -0.36, 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. | -0.36 |
Correlation (3Y) Balances recent behavior with more history. | -0.21 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021 | -0.10 |
Over the past year, the inverse relationship between FCSH and UGA has strengthened: their correlation has moved from -0.10 to -0.36, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
FCSH vs. UGA — Risk / Return Rank
FCSH
UGA
FCSH vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Short Duration Corporate ETF (FCSH) 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.
| FCSH | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.35 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 3.87 | -1.64 |
| Martin ratioReturn relative to average drawdown | 6.53 | 10.83 | -4.30 |
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Drawdowns
FCSH vs. UGA - Drawdown Comparison
The maximum FCSH drawdown since its inception was -8.47%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for FCSH and UGA.
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Drawdown Indicators
| FCSH | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.47% | -86.59% | +78.12% |
Max Drawdown (1Y)Largest decline over 1 year | -1.24% | -20.32% | +19.08% |
Max Drawdown (3Y)Largest decline over 3 years | -1.32% | -26.68% | +25.36% |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -0.49% | -10.61% | +10.12% |
Average DrawdownAverage peak-to-trough decline | -2.15% | -36.53% | +34.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 7.25% | -6.83% |
Volatility
FCSH vs. UGA - Volatility Comparison
The current volatility for Federated Hermes Short Duration Corporate ETF (FCSH) is 0.52%, while United States Gasoline Fund, LP (UGA) has a volatility of 12.68%. This indicates that FCSH 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
| FCSH | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 12.68% | -12.16% |
Volatility (6M)Calculated over the trailing 6-month period | 1.65% | 32.51% | -30.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.93% | 36.42% | -34.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.87% | 34.68% | -31.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.87% | 37.30% | -34.43% |
FCSH vs. UGA - Expense Ratio Comparison
FCSH has a 0.30% expense ratio, which is lower than UGA's 1.02% expense ratio.
Dividends
FCSH vs. UGA - Dividend Comparison
FCSH's dividend yield for the trailing twelve months is around 4.23%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FCSH Federated Hermes Short Duration Corporate ETF | 4.23% | 4.14% | 4.44% | 2.31% | 1.76% | 0.04% |
UGA United States Gasoline Fund, LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FCSH and UGA have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (12.68%) compared to FCSH (0.52%). In terms of maximum drawdown, FCSH dropped -8.47% vs UGA's -86.59%.
On 3-year performance, UGA leads with 16.66% vs 5.00% for FCSH. On fees, FCSH is cheaper at 0.30% per year. On volatility, FCSH has been the lower-risk option at 0.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UGA has performed better with a 16.66% return vs 5.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FCSH is cheaper with a 0.30% expense ratio, compared with 1.02% for UGA.
FCSH has the higher dividend yield at 4.23%, compared with 0.00% for UGA.
FCSH is categorized as Short-Term Bond, while UGA is Oil & Gas. They also come from different issuers: Federated and USCF. Their fees differ too: 0.30% for FCSH and 1.02% for UGA.
UGA currently has the higher Sharpe Ratio (2.16 vs 1.44), 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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