FDHY vs. UGA
FDHY (Fidelity High Yield Factor ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - FDHY is a High Yield Bonds fund actively managed by Fidelity, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. FDHY is actively managed, while UGA is passively managed. Over the past 5 years, FDHY returned 3.99%/yr vs 25.10%/yr for UGA. At a 0.16 correlation, their price movements are largely independent. FDHY charges 0.45%/yr vs 0.75%/yr for UGA.
Performance
FDHY vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, FDHY achieves a 2.16% return, which is significantly lower than UGA's 75.49% return.
FDHY
- 1D
- -0.24%
- 1M
- 0.53%
- YTD
- 2.16%
- 6M
- 2.73%
- 1Y
- 8.50%
- 3Y*
- 8.66%
- 5Y*
- 3.99%
- 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%
FDHY vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FDHY Fidelity High Yield Factor ETF | 2.16% | 9.24% | 7.53% | 11.14% | -11.30% | 4.33% | 10.71% | 16.87% | -2.14% |
UGA United States Gasoline Fund LP | 75.49% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -31.49% |
Correlation
The correlation between FDHY and UGA is -0.32, 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 | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2018 | 0.16 |
The correlation between FDHY and UGA shifts across timeframes, from -0.32 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FDHY vs. UGA — Risk / Return Rank
FDHY
UGA
FDHY vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity High Yield Factor ETF (FDHY) 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.
| FDHY | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.37 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.02 | 5.47 | -1.45 |
| Martin ratioReturn relative to average drawdown | 17.11 | 13.25 | +3.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FDHY | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.40 | 2.32 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.73 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.12 | +0.60 |
Drawdowns
FDHY vs. UGA - Drawdown Comparison
The maximum FDHY drawdown since its inception was -20.01%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for FDHY and UGA.
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Drawdown Indicators
| FDHY | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.01% | -86.59% | +66.58% |
Max Drawdown (1Y)Largest decline over 1 year | -2.12% | -14.88% | +12.76% |
Max Drawdown (3Y)Largest decline over 3 years | -5.26% | -26.68% | +21.42% |
Max Drawdown (5Y)Largest decline over 5 years | -16.38% | -38.11% | +21.73% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -0.24% | -12.35% | +12.11% |
Average DrawdownAverage peak-to-trough decline | -2.88% | -36.76% | +33.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 6.13% | -5.63% |
Volatility
FDHY vs. UGA - Volatility Comparison
The current volatility for Fidelity High Yield Factor ETF (FDHY) is 1.23%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that FDHY 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
| FDHY | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 11.66% | -10.43% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 30.41% | -27.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.57% | 35.14% | -31.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.13% | 34.38% | -27.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.05% | 37.27% | -29.22% |
FDHY vs. UGA - Expense Ratio Comparison
FDHY has a 0.45% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
FDHY vs. UGA - Dividend Comparison
FDHY's dividend yield for the trailing twelve months is around 6.52%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FDHY Fidelity High Yield Factor ETF | 6.52% | 6.56% | 6.58% | 6.26% | 5.34% | 6.09% | 5.78% | 4.94% | 2.55% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FDHY and UGA have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.66%) compared to FDHY (1.23%). In terms of maximum drawdown, FDHY dropped -20.01% vs UGA's -86.59%.
On 5-year performance, UGA leads with 25.10% vs 3.99% for FDHY. On fees, FDHY is cheaper at 0.45% per year. On volatility, FDHY has been the lower-risk option at 1.23%. 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 25.10% return vs 3.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDHY is cheaper with a 0.45% expense ratio, compared with 0.75% for UGA.
FDHY has the higher dividend yield at 6.52%, compared with 0.00% for UGA.
FDHY is categorized as High Yield Bonds, while UGA is Oil & Gas. They also come from different issuers: Fidelity and Concierge Technologies. Their fees differ too: 0.45% for FDHY and 0.75% for UGA.
FDHY currently has the higher Sharpe Ratio (2.40 vs 2.32), 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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