FSCS vs. UGA
FSCS (First Trust SMID Capital Strength ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - FSCS is a Mid Cap Blend Equities fund tracking the SMID Capital Strength Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 5 years, FSCS returned 5.04%/yr vs 24.41%/yr for UGA. At a 0.18 correlation, their price movements are largely independent. FSCS charges 0.60%/yr vs 0.75%/yr for UGA.
Performance
FSCS vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, FSCS achieves a -1.02% return, which is significantly lower than UGA's 70.69% return.
FSCS
- 1D
- 0.52%
- 1M
- -1.92%
- YTD
- -1.02%
- 6M
- -0.96%
- 1Y
- -0.14%
- 3Y*
- 10.37%
- 5Y*
- 5.04%
- 10Y*
- —
UGA
- 1D
- -2.73%
- 1M
- -12.25%
- YTD
- 70.69%
- 6M
- 59.72%
- 1Y
- 79.48%
- 3Y*
- 20.80%
- 5Y*
- 24.41%
- 10Y*
- 14.27%
FSCS vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSCS First Trust SMID Capital Strength ETF | -1.02% | 1.77% | 14.98% | 16.81% | -9.11% | 26.08% | 5.71% | 28.00% | -12.85% | 10.74% |
UGA United States Gasoline Fund LP | 70.69% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 39.75% |
Correlation
The correlation between FSCS and UGA is -0.24, 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 | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2017 | 0.18 |
The correlation between FSCS and UGA shifts across timeframes, from -0.24 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FSCS vs. UGA — Risk / Return Rank
FSCS
UGA
FSCS vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust SMID Capital Strength ETF (FSCS) 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.
| FSCS | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.28 | ||
| Sortino ratioReturn per unit of downside risk | -2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.37 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 5.37 | -5.39 |
| Martin ratioReturn relative to average drawdown | -0.04 | 12.86 | -12.90 |
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
| FSCS | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | 2.27 | -2.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.71 | -0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.12 | +0.27 |
Drawdowns
FSCS vs. UGA - Drawdown Comparison
The maximum FSCS drawdown since its inception was -43.57%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for FSCS and UGA.
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Drawdown Indicators
| FSCS | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.57% | -86.59% | +43.02% |
Max Drawdown (1Y)Largest decline over 1 year | -7.81% | -14.88% | +7.07% |
Max Drawdown (3Y)Largest decline over 3 years | -19.55% | -26.68% | +7.13% |
Max Drawdown (5Y)Largest decline over 5 years | -21.25% | -38.11% | +16.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -6.84% | -14.75% | +7.91% |
Average DrawdownAverage peak-to-trough decline | -5.99% | -36.76% | +30.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.62% | 6.20% | -2.58% |
Volatility
FSCS vs. UGA - Volatility Comparison
The current volatility for First Trust SMID Capital Strength ETF (FSCS) is 2.96%, while United States Gasoline Fund LP (UGA) has a volatility of 11.64%. This indicates that FSCS 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
| FSCS | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.96% | 11.64% | -8.68% |
Volatility (6M)Calculated over the trailing 6-month period | 8.24% | 30.48% | -22.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.69% | 35.27% | -22.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.09% | 34.40% | -16.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 37.27% | -16.07% |
FSCS vs. UGA - Expense Ratio Comparison
FSCS has a 0.60% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
FSCS vs. UGA - Dividend Comparison
FSCS's dividend yield for the trailing twelve months is around 0.91%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FSCS First Trust SMID Capital Strength ETF | 0.91% | 0.75% | 1.12% | 1.47% | 1.71% | 1.21% | 1.33% | 1.68% | 1.67% | 0.67% |
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% |
Frequently Asked Questions
FSCS and UGA have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.64%) compared to FSCS (2.96%). In terms of maximum drawdown, FSCS dropped -43.57% vs UGA's -86.59%.
On 5-year performance, UGA leads with 24.41% vs 5.04% for FSCS. On fees, FSCS is cheaper at 0.60% per year. On volatility, FSCS has been the lower-risk option at 2.96%. 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 24.41% return vs 5.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FSCS is cheaper with a 0.60% expense ratio, compared with 0.75% for UGA.
FSCS has the higher dividend yield at 0.91%, compared with 0.00% for UGA.
FSCS is categorized as Mid Cap Blend Equities, while UGA is Oil & Gas. FSCS tracks SMID Capital Strength Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: First Trust and Concierge Technologies. Their fees differ too: 0.60% for FSCS and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.27 vs -0.01), 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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