FSCC vs. UGA

Last updated Jun 23, 2026

FSCC (Federated Hermes MDT Small Cap Core ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - FSCC is a Small Cap Blend Equities fund actively managed by Federated Hermes, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. FSCC is actively managed, while UGA is passively managed. Over the past year, FSCC returned 44.27% vs 59.74% for UGA. At a correlation of -0.07, they often move in opposite directions. FSCC charges 0.36%/yr vs 0.75%/yr for UGA.

Performance

FSCC vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Small Cap Core ETF (FSCC) 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, FSCC achieves a 20.60% return, which is significantly lower than UGA's 64.09% return.

FSCC

• 1D: 0.93%
• 1M: 4.77%
• YTD: 20.60%
• 6M: 17.48%
• 1Y: 44.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FSCC vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FSCC Federated Hermes MDT Small Cap Core ETF	20.60%	15.30%	2.15%
UGA United States Gasoline Fund LP	64.09%	-2.00%	-2.45%

Correlation

The correlation between FSCC and UGA is -0.22, 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	-0.22
Correlation (All Time) Calculated using the full available price history since Jul 31, 2024	-0.07

The correlation between FSCC and UGA shifts across timeframes, from -0.22 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FSCC vs. UGA — Risk / Return Rank

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

FSCC

FSCC Risk / Return Rank: 74
FSCC Sharpe Ratio Rank: 74
FSCC Sortino Ratio Rank: 72
FSCC Omega Ratio Rank: 66
FSCC Calmar Ratio Rank: 80
FSCC Martin Ratio Rank: 78

UGA

UGA Risk / Return Rank: 55
UGA Sharpe Ratio Rank: 53
UGA Sortino Ratio Rank: 48
UGA Omega Ratio Rank: 49
UGA Calmar Ratio Rank: 67
UGA Martin Ratio Rank: 56

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.

FSCC vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Small Cap Core ETF (FSCC) 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.

	FSCC	UGA	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.73	+0.54
Sortino ratio: Return per unit of downside risk	3.11	2.25	+0.86
Omega ratio: Gain probability vs. loss probability	1.38	1.30	+0.08
Calmar ratio: Return relative to maximum drawdown	4.02	3.17	+0.85
Martin ratio: Return relative to average drawdown	14.68	9.39	+5.29

FSCC vs. UGA - Sharpe Ratio Comparison

The current FSCC Sharpe Ratio is 2.27, which is higher than the UGA Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of FSCC 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

FSCC vs. UGA - Drawdown Comparison

The maximum FSCC drawdown since its inception was -27.17%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for FSCC and UGA.

Drawdown Indicators

	FSCC	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-27.17%	-86.59%	+59.42%
Max Drawdown (1Y) Largest decline over 1 year	-11.07%	-18.96%	+7.89%
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	0.00%	-18.05%	+18.05%
Average Drawdown Average peak-to-trough decline	-5.08%	-36.69%	+31.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	6.43%	-3.41%

Volatility

FSCC vs. UGA - Volatility Comparison

The current volatility for Federated Hermes MDT Small Cap Core ETF (FSCC) is 6.18%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that FSCC 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.

Volatility by Period

	FSCC	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.18%	9.24%	-3.06%
Volatility (6M) Calculated over the trailing 6-month period	14.11%	30.57%	-16.46%
Volatility (1Y) Calculated over the trailing 1-year period	19.61%	35.22%	-15.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.36%	34.45%	-12.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.36%	37.22%	-14.86%

FSCC vs. UGA - Expense Ratio Comparison

FSCC has a 0.36% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

FSCC vs. UGA - Dividend Comparison

FSCC's dividend yield for the trailing twelve months is around 0.22%, while UGA has not paid dividends to shareholders.

Position	TTM	2025	2024
FSCC Federated Hermes MDT Small Cap Core ETF	0.22%	0.27%	0.16%
UGA United States Gasoline Fund LP	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSCC and UGA in my portfolio?

FSCC and UGA have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSCC or UGA?

UGA has higher volatility (9.24%) compared to FSCC (6.18%). In terms of maximum drawdown, FSCC dropped -27.17% vs UGA's -86.59%.

Which ETF is better, FSCC or UGA?

On 1-year performance, UGA leads with 59.74% vs 44.27% for FSCC. On fees, FSCC is cheaper at 0.36% per year. On volatility, FSCC has been the lower-risk option at 6.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FSCC or UGA?

Over the 1-year period, UGA has performed better with a 59.74% return vs 44.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FSCC or UGA?

FSCC is cheaper with a 0.36% expense ratio, compared with 0.75% for UGA.

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

FSCC has the higher dividend yield at 0.22%, compared with 0.00% for UGA.

What is the main difference between FSCC and UGA?

FSCC is categorized as Small Cap Blend Equities, while UGA is Oil & Gas. They also come from different issuers: Federated Hermes and Concierge Technologies. Their fees differ too: 0.36% for FSCC and 0.75% for UGA.

Which has better risk-adjusted returns?

FSCC currently has the higher Sharpe Ratio (2.27 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.