FFOG vs. UGA

Last updated Jun 25, 2026

FFOG (Franklin Focused Growth ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - FFOG is a Large Cap Growth Equities fund actively managed by Franklin Templeton, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. FFOG is actively managed, while UGA is passively managed. Over the past year, FFOG returned 15.05% vs 62.68% for UGA. At a correlation of -0.04, they often move in opposite directions. FFOG charges 0.55%/yr vs 0.75%/yr for UGA.

Performance

FFOG vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Focused Growth ETF (FFOG) 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, FFOG achieves a 5.21% return, which is significantly lower than UGA's 59.54% return.

FFOG

• 1D: -0.18%
• 1M: -2.07%
• YTD: 5.21%
• 6M: 3.49%
• 1Y: 15.05%
• 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)

FFOG vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FFOG Franklin Focused Growth ETF	5.21%	17.09%	38.20%	12.25%
UGA United States Gasoline Fund LP	59.54%	-2.00%	3.77%	-3.07%

Correlation

The correlation between FFOG and UGA is -0.17, 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	-0.17
Correlation (All Time) Calculated using the full available price history since Nov 6, 2023	-0.04

The correlation between FFOG and UGA shifts across timeframes, from -0.17 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FFOG vs. UGA — Risk / Return Rank

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

FFOG

FFOG Risk / Return Rank: 20
FFOG Sharpe Ratio Rank: 21
FFOG Sortino Ratio Rank: 20
FFOG Omega Ratio Rank: 21
FFOG Calmar Ratio Rank: 18
FFOG Martin Ratio Rank: 19

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.

FFOG vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Focused Growth ETF (FFOG) 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.

	FFOG	UGA	Difference
Sharpe ratio: Return per unit of total volatility	0.70	1.83	-1.13
Sortino ratio: Return per unit of downside risk	1.05	2.35	-1.30
Omega ratio: Gain probability vs. loss probability	1.14	1.31	-0.17
Calmar ratio: Return relative to maximum drawdown	0.69	3.10	-2.41
Martin ratio: Return relative to average drawdown	2.02	9.66	-7.64

FFOG vs. UGA - Sharpe Ratio Comparison

The current FFOG Sharpe Ratio is 0.70, which is lower than the UGA Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of FFOG 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.

Drawdowns

FFOG vs. UGA - Drawdown Comparison

The maximum FFOG drawdown since its inception was -25.38%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for FFOG and UGA.

Drawdown Indicators

	FFOG	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-25.38%	-86.59%	+61.21%
Max Drawdown (1Y) Largest decline over 1 year	-21.90%	-20.32%	-1.58%
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	-5.85%	-20.32%	+14.47%
Average Drawdown Average peak-to-trough decline	-4.58%	-36.69%	+32.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.47%	6.51%	+0.96%

Volatility

FFOG vs. UGA - Volatility Comparison

Franklin Focused Growth ETF (FFOG) and United States Gasoline Fund LP (UGA) have volatilities of 9.49% and 9.45%, 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

	FFOG	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.49%	9.45%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	17.38%	30.74%	-13.36%
Volatility (1Y) Calculated over the trailing 1-year period	21.76%	34.84%	-13.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.17%	34.47%	-10.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.17%	37.22%	-13.05%

FFOG vs. UGA - Expense Ratio Comparison

FFOG has a 0.55% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

FFOG vs. UGA - Dividend Comparison

Neither FFOG nor UGA has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FFOG and UGA in my portfolio?

FFOG and UGA have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFOG or UGA?

FFOG has higher volatility (9.49%) compared to UGA (9.45%). In terms of maximum drawdown, FFOG dropped -25.38% vs UGA's -86.59%.

Which ETF is better, FFOG or UGA?

On 1-year performance, UGA leads with 62.68% vs 15.05% for FFOG. On fees, FFOG is cheaper at 0.55% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFOG or UGA?

Over the 1-year period, UGA has performed better with a 62.68% return vs 15.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFOG or UGA?

FFOG is cheaper with a 0.55% expense ratio, compared with 0.75% for UGA.

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

FFOG and UGA have nearly identical dividend yields, around 0.00%.

What is the main difference between FFOG and UGA?

FFOG is categorized as Large Cap Growth Equities, while UGA is Oil & Gas. They also come from different issuers: Franklin Templeton and Concierge Technologies. Their fees differ too: 0.55% for FFOG and 0.75% for UGA.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (1.82 vs 0.70), 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.