FNDX vs. UGA
FNDX (Schwab Fundamental U.S. Large Company Index ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - FNDX is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, FNDX returned 14.48%/yr vs 14.31%/yr for UGA. At a 0.26 correlation, their price movements are largely independent. FNDX charges 0.25%/yr vs 0.75%/yr for UGA.
Performance
FNDX vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, FNDX achieves a 14.31% return, which is significantly lower than UGA's 64.09% return. Both investments have delivered pretty close results over the past 10 years, with FNDX having a 14.48% annualized return and UGA not far behind at 14.31%.
FNDX
- 1D
- -0.42%
- 1M
- 0.52%
- YTD
- 14.31%
- 6M
- 13.73%
- 1Y
- 30.33%
- 3Y*
- 20.33%
- 5Y*
- 13.24%
- 10Y*
- 14.48%
UGA
- 1D
- -1.12%
- 1M
- -12.11%
- YTD
- 64.09%
- 6M
- 60.42%
- 1Y
- 59.74%
- 3Y*
- 18.95%
- 5Y*
- 22.69%
- 10Y*
- 14.31%
FNDX vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNDX Schwab Fundamental U.S. Large Company Index ETF | 14.31% | 16.94% | 16.77% | 18.23% | -6.92% | 31.73% | 9.12% | 28.65% | -7.30% | 17.12% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 1.69% |
Correlation
The correlation between FNDX and UGA is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013 | 0.26 |
The correlation between FNDX and UGA shifts across timeframes, from -0.14 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FNDX vs. UGA — Risk / Return Rank
FNDX
UGA
FNDX vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental U.S. Large Company Index ETF (FNDX) 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.
| FNDX | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.19 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.30 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 5.02 | 3.17 | +1.86 |
| Martin ratioReturn relative to average drawdown | 19.42 | 9.39 | +10.03 |
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Drawdowns
FNDX vs. UGA - Drawdown Comparison
The maximum FNDX drawdown since its inception was -37.72%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for FNDX and UGA.
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Drawdown Indicators
| FNDX | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.72% | -86.59% | +48.87% |
Max Drawdown (1Y)Largest decline over 1 year | -6.06% | -18.96% | +12.90% |
Max Drawdown (3Y)Largest decline over 3 years | -16.30% | -26.68% | +10.38% |
Max Drawdown (5Y)Largest decline over 5 years | -19.06% | -38.11% | +19.05% |
Max Drawdown (10Y)Largest decline over 10 years | -37.72% | -75.89% | +38.17% |
Current DrawdownCurrent decline from peak | -1.43% | -18.05% | +16.62% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -36.69% | +33.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.57% | 6.43% | -4.86% |
Volatility
FNDX vs. UGA - Volatility Comparison
The current volatility for Schwab Fundamental U.S. Large Company Index ETF (FNDX) is 3.33%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that FNDX 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
| FNDX | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.33% | 9.24% | -5.91% |
Volatility (6M)Calculated over the trailing 6-month period | 7.63% | 30.57% | -22.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.47% | 35.22% | -24.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 34.45% | -19.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.48% | 37.22% | -19.74% |
FNDX vs. UGA - Expense Ratio Comparison
FNDX has a 0.25% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
FNDX vs. UGA - Dividend Comparison
FNDX's dividend yield for the trailing twelve months is around 1.45%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNDX Schwab Fundamental U.S. Large Company Index ETF | 1.45% | 1.63% | 1.76% | 1.82% | 2.07% | 1.64% | 2.29% | 2.23% | 2.40% | 1.86% | 2.01% | 2.01% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FNDX and UGA have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (9.24%) compared to FNDX (3.33%). In terms of maximum drawdown, FNDX dropped -37.72% vs UGA's -86.59%.
On 10-year performance, FNDX leads with 14.48% vs 14.31% for UGA. On fees, FNDX is cheaper at 0.25% per year. On volatility, FNDX has been the lower-risk option at 3.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FNDX has performed better with a 14.48% return vs 14.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNDX is cheaper with a 0.25% expense ratio, compared with 0.75% for UGA.
FNDX has the higher dividend yield at 1.45%, compared with 0.00% for UGA.
FNDX is categorized as Large Cap Value Equities, while UGA is Oil & Gas. FNDX tracks RAFI Fundamental High Liquidity US Large Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Charles Schwab and Concierge Technologies. Their fees differ too: 0.25% for FNDX and 0.75% for UGA.
FNDX currently has the higher Sharpe Ratio (2.92 vs 1.73), 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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