FTQI vs. UGA
FTQI (First Trust Nasdaq BuyWrite Income ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - FTQI is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, FTQI returned 8.16%/yr vs 14.31%/yr for UGA. At a 0.13 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
FTQI vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, FTQI achieves a 10.72% return, which is significantly lower than UGA's 64.09% return. Over the past 10 years, FTQI has underperformed UGA with an annualized return of 8.16%, while UGA has yielded a comparatively higher 14.31% annualized return.
FTQI
- 1D
- -0.90%
- 1M
- 1.53%
- YTD
- 10.72%
- 6M
- 9.88%
- 1Y
- 27.20%
- 3Y*
- 16.88%
- 5Y*
- 11.03%
- 10Y*
- 8.16%
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%
FTQI vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTQI First Trust Nasdaq BuyWrite Income ETF | 10.72% | 12.68% | 18.30% | 23.63% | -8.77% | 10.46% | -6.54% | 13.98% | -9.78% | 12.47% |
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 FTQI and UGA is -0.20, 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 | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jan 7, 2014 | 0.13 |
The correlation between FTQI and UGA shifts across timeframes, from -0.20 (1 year) to 0.14 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
FTQI vs. UGA — Risk / Return Rank
FTQI
UGA
FTQI vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq BuyWrite Income ETF (FTQI) 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.
| FTQI | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.30 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 4.38 | 3.17 | +1.21 |
| Martin ratioReturn relative to average drawdown | 20.88 | 9.39 | +11.48 |
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Drawdowns
FTQI vs. UGA - Drawdown Comparison
The maximum FTQI drawdown since its inception was -19.42%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for FTQI and UGA.
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Drawdown Indicators
| FTQI | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.42% | -86.59% | +67.17% |
Max Drawdown (1Y)Largest decline over 1 year | -6.24% | -18.96% | +12.72% |
Max Drawdown (3Y)Largest decline over 3 years | -19.42% | -26.68% | +7.26% |
Max Drawdown (5Y)Largest decline over 5 years | -19.42% | -38.11% | +18.69% |
Max Drawdown (10Y)Largest decline over 10 years | -19.42% | -75.89% | +56.47% |
Current DrawdownCurrent decline from peak | -0.90% | -18.05% | +17.15% |
Average DrawdownAverage peak-to-trough decline | -3.74% | -36.69% | +32.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 6.43% | -5.12% |
Volatility
FTQI vs. UGA - Volatility Comparison
The current volatility for First Trust Nasdaq BuyWrite Income ETF (FTQI) is 3.26%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that FTQI 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
| FTQI | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.26% | 9.24% | -5.98% |
Volatility (6M)Calculated over the trailing 6-month period | 8.58% | 30.57% | -21.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.67% | 35.22% | -24.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.83% | 34.45% | -19.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.33% | 37.22% | -23.89% |
FTQI vs. UGA - Expense Ratio Comparison
Both FTQI and UGA have an expense ratio of 0.75%.
Dividends
FTQI vs. UGA - Dividend Comparison
FTQI's dividend yield for the trailing twelve months is around 10.97%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTQI First Trust Nasdaq BuyWrite Income ETF | 10.97% | 11.46% | 11.66% | 11.49% | 9.85% | 3.05% | 3.27% | 2.95% | 3.27% | 2.74% | 3.02% | 3.54% |
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
FTQI and UGA have a correlation of -0.20, 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 FTQI (3.26%). In terms of maximum drawdown, FTQI dropped -19.42% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.31% vs 8.16% for FTQI. Both ETFs have the same 0.75% expense ratio. On volatility, FTQI has been the lower-risk option at 3.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UGA has performed better with a 14.31% return vs 8.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTQI and UGA have the same expense ratio: 0.75% per year.
FTQI has the higher dividend yield at 10.97%, compared with 0.00% for UGA.
FTQI is categorized as Nasdaq-100, while UGA is Oil & Gas. FTQI tracks NASDAQ-100 Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: First Trust and Concierge Technologies.
FTQI currently has the higher Sharpe Ratio (2.57 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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