FNGS vs. UGA
FNGS (MicroSectors FANG+ ETN) and UGA (United States Gasoline Fund, LP) are both exchange-traded funds - FNGS is a Large Cap Growth Equities fund tracking the NYSE FANG+ Index, 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, FNGS returned 18.98%/yr vs 25.78%/yr for UGA. Their 0.11 correlation means their historical movements had little consistent relationship. FNGS charges 0.58%/yr vs 1.02%/yr for UGA.
Performance
FNGS vs. UGA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FNGS achieves a 9.02% return, which is significantly lower than UGA's 91.06% return.
FNGS
- 1D
- 1.63%
- 1M
- 0.59%
- 6M
- 12.42%
- YTD
- 9.02%
- 1Y
- 15.45%
- 3Y*
- 28.64%
- 5Y*
- 18.98%
- 10Y*
- —
- ALL TIME*
- 30.45%
UGA
- 1D
- -0.01%
- 1M
- 14.56%
- 6M
- 70.02%
- YTD
- 91.06%
- 1Y
- 88.12%
- 3Y*
- 17.55%
- 5Y*
- 25.78%
- 10Y*
- 18.03%
- ALL TIME*
- 4.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.57M | $1.92M | $2.40M | |
| $6.47M | $5.01M | $4.85M |
FNGS vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FNGS MicroSectors FANG+ ETN | 9.02% | 18.64% | 51.99% | 95.24% | -40.32% | 16.96% | 101.99% | 10.10% |
UGA United States Gasoline Fund, LP | 91.06% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 5.17% |
Correlation
The correlation between FNGS and UGA is -0.12, 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. | -0.12 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2019 | 0.11 |
The correlation between FNGS and UGA shifts across timeframes, from -0.12 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FNGS vs. UGA — Risk / Return Rank
FNGS
UGA
FNGS vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ ETN (FNGS) 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.
| FNGS | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.37 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.51 | 4.12 | -3.60 |
| Martin ratioReturn relative to average drawdown | 1.37 | 11.57 | -10.20 |
Loading charts...
Drawdowns
FNGS vs. UGA - Drawdown Comparison
The maximum FNGS drawdown since its inception was -48.98%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for FNGS and UGA.
Loading charts...
Drawdown Indicators
| FNGS | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.98% | -86.59% | +37.61% |
Max Drawdown (1Y)Largest decline over 1 year | -22.93% | -20.32% | -2.61% |
Max Drawdown (3Y)Largest decline over 3 years | -26.77% | -26.68% | -0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -48.98% | -38.11% | -10.87% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -7.74% | -5.63% | -2.11% |
Average DrawdownAverage peak-to-trough decline | -10.80% | -36.53% | +25.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.61% | 7.26% | +1.35% |
Volatility
FNGS vs. UGA - Volatility Comparison
The current volatility for MicroSectors FANG+ ETN (FNGS) is 5.87%, while United States Gasoline Fund, LP (UGA) has a volatility of 11.28%. This indicates that FNGS 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.
Loading charts...
Volatility by Period
| FNGS | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.87% | 11.28% | -5.41% |
Volatility (6M)Calculated over the trailing 6-month period | 18.36% | 31.98% | -13.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.86% | 36.11% | -13.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.29% | 34.60% | -4.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.07% | 37.26% | -6.19% |
FNGS vs. UGA - Expense Ratio Comparison
FNGS has a 0.58% expense ratio, which is lower than UGA's 1.02% expense ratio.
Dividends
FNGS vs. UGA - Dividend Comparison
Neither FNGS nor UGA has paid dividends to shareholders.
Frequently Asked Questions
FNGS and UGA have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.28%) compared to FNGS (5.87%). In terms of maximum drawdown, FNGS dropped -48.98% vs UGA's -86.59%.
On 5-year performance, UGA leads with 25.78% vs 18.98% for FNGS. On fees, FNGS is cheaper at 0.58% per year. On volatility, FNGS has been the lower-risk option at 5.87%. 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 25.78% return vs 18.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNGS is cheaper with a 0.58% expense ratio, compared with 1.02% for UGA.
FNGS and UGA have nearly identical dividend yields, around 0.00%.
FNGS is categorized as Large Cap Growth Equities, while UGA is Oil & Gas. FNGS tracks NYSE FANG+ Index, while UGA tracks Near-Month NYMEX RBOB Gasoline Futures Contract. They also come from different issuers: BMO and USCF. Their fees differ too: 0.58% for FNGS and 1.02% for UGA.
UGA currently has the higher Sharpe Ratio (2.32 vs 0.52), 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.
Find the right allocation for FNGS and UGA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer