FTSD vs. UGA
FTSD (Franklin Short Duration U.S. Government ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - FTSD is a Mortgage Backed Securities fund actively managed by Franklin Templeton, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. FTSD is actively managed, while UGA is passively managed. Over the past 10 years, FTSD returned 2.07%/yr vs 15.78%/yr for UGA. At a correlation of -0.06, they often move in opposite directions. FTSD charges 0.25%/yr vs 0.75%/yr for UGA.
Performance
FTSD vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, FTSD achieves a 1.09% return, which is significantly lower than UGA's 71.80% return. Over the past 10 years, FTSD has underperformed UGA with an annualized return of 2.07%, while UGA has yielded a comparatively higher 15.78% annualized return.
FTSD
- 1D
- -0.05%
- 1M
- 0.18%
- 6M
- 1.14%
- YTD
- 1.09%
- 1Y
- 4.09%
- 3Y*
- 5.06%
- 5Y*
- 2.59%
- 10Y*
- 2.07%
UGA
- 1D
- -1.13%
- 1M
- 0.87%
- 6M
- 65.75%
- YTD
- 71.80%
- 1Y
- 66.14%
- 3Y*
- 17.96%
- 5Y*
- 23.72%
- 10Y*
- 15.78%
FTSD vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTSD Franklin Short Duration U.S. Government ETF | 1.09% | 5.66% | 5.20% | 4.84% | -3.13% | -0.90% | 3.13% | 2.40% | 1.64% | 0.63% |
UGA United States Gasoline Fund LP | 71.80% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 1.69% |
Correlation
The correlation between FTSD and UGA is -0.29, 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 | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2013 | -0.06 |
Over the past year, the inverse relationship between FTSD and UGA has strengthened: their correlation has moved from -0.06 to -0.29, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
FTSD vs. UGA — Risk / Return Rank
FTSD
UGA
FTSD vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Short Duration U.S. Government ETF (FTSD) 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.
| FTSD | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +2.17 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.32 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 9.05 | 3.41 | +5.64 |
| Martin ratioReturn relative to average drawdown | 34.92 | 9.53 | +25.39 |
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Drawdowns
FTSD vs. UGA - Drawdown Comparison
The maximum FTSD drawdown since its inception was -5.32%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for FTSD and UGA.
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Drawdown Indicators
| FTSD | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.32% | -86.59% | +81.27% |
Max Drawdown (1Y)Largest decline over 1 year | -0.45% | -20.32% | +19.87% |
Max Drawdown (3Y)Largest decline over 3 years | -0.93% | -26.68% | +25.75% |
Max Drawdown (5Y)Largest decline over 5 years | -4.96% | -38.11% | +33.15% |
Max Drawdown (10Y)Largest decline over 10 years | -5.32% | -75.89% | +70.57% |
Current DrawdownCurrent decline from peak | -0.13% | -14.20% | +14.07% |
Average DrawdownAverage peak-to-trough decline | -0.60% | -36.64% | +36.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 7.26% | -7.14% |
Volatility
FTSD vs. UGA - Volatility Comparison
The current volatility for Franklin Short Duration U.S. Government ETF (FTSD) is 0.50%, while United States Gasoline Fund LP (UGA) has a volatility of 10.45%. This indicates that FTSD 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
| FTSD | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 10.45% | -9.95% |
Volatility (6M)Calculated over the trailing 6-month period | 1.09% | 31.50% | -30.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.36% | 35.39% | -34.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.87% | 34.57% | -32.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.76% | 37.20% | -35.44% |
FTSD vs. UGA - Expense Ratio Comparison
FTSD has a 0.25% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
FTSD vs. UGA - Dividend Comparison
FTSD's dividend yield for the trailing twelve months is around 4.48%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTSD Franklin Short Duration U.S. Government ETF | 4.48% | 4.67% | 4.75% | 4.14% | 1.73% | 1.01% | 1.54% | 2.90% | 2.63% | 2.24% | 1.92% | 1.52% |
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
FTSD and UGA have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (10.45%) compared to FTSD (0.50%). In terms of maximum drawdown, FTSD dropped -5.32% vs UGA's -86.59%.
On 10-year performance, UGA leads with 15.78% vs 2.07% for FTSD. On fees, FTSD is cheaper at 0.25% per year. On volatility, FTSD has been the lower-risk option at 0.50%. 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 15.78% return vs 2.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTSD is cheaper with a 0.25% expense ratio, compared with 0.75% for UGA.
FTSD has the higher dividend yield at 4.48%, compared with 0.00% for UGA.
FTSD is categorized as Mortgage Backed Securities, while UGA is Oil & Gas. They also come from different issuers: Franklin Templeton and Concierge Technologies. Their fees differ too: 0.25% for FTSD and 0.75% for UGA.
FTSD currently has the higher Sharpe Ratio (3.02 vs 1.96), 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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