GDXW vs. UGA

Last updated Jun 5, 2026

GDXW (Roundhill Gold Miners Weeklypay ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - GDXW is a Gold fund actively managed by Roundhill, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. GDXW is actively managed, while UGA is passively managed. At a correlation of -0.21, they often move in opposite directions. GDXW charges 0.99%/yr vs 0.75%/yr for UGA.

Performance

GDXW vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Gold Miners Weeklypay ETF (GDXW) 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, GDXW achieves a -3.22% return, which is significantly lower than UGA's 70.69% return.

GDXW

• 1D: 1.75%
• 1M: 0.20%
• YTD: -3.22%
• 6M: 3.82%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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%

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

GDXW vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025
GDXW Roundhill Gold Miners Weeklypay ETF	-3.22%	21.25%
UGA United States Gasoline Fund LP	70.69%	-5.01%

Correlation

The correlation between GDXW and UGA is -0.21, 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 (All Time) Calculated using the full available price history since Oct 31, 2025	-0.21

Return for Risk

GDXW vs. UGA — Risk / Return Rank

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

UGA

UGA Risk / Return Rank: 70
UGA Sharpe Ratio Rank: 71
UGA Sortino Ratio Rank: 58
UGA Omega Ratio Rank: 62
UGA Calmar Ratio Rank: 89
UGA Martin Ratio Rank: 70

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.

GDXW vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Gold Miners Weeklypay ETF (GDXW) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GDXW	UGA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.27	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.71	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.12	+0.40

Drawdowns

GDXW vs. UGA - Drawdown Comparison

The maximum GDXW drawdown since its inception was -36.83%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for GDXW and UGA.

Drawdown Indicators

	GDXW	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-36.83%	-86.59%	+49.76%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.88%	—
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	-31.82%	-14.75%	-17.07%
Average Drawdown Average peak-to-trough decline	-13.58%	-36.76%	+23.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.20%	—

Volatility

Volatility by Period

	GDXW	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.64%	—
Volatility (6M) Calculated over the trailing 6-month period	—	30.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	61.21%	35.27%	+25.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.21%	34.40%	+26.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.21%	37.27%	+23.94%

GDXW vs. UGA - Expense Ratio Comparison

GDXW has a 0.99% expense ratio, which is higher than UGA's 0.75% expense ratio.

Dividends

GDXW vs. UGA - Dividend Comparison

GDXW's dividend yield for the trailing twelve months is around 38.71%, while UGA has not paid dividends to shareholders.

Position	TTM	2025
GDXW Roundhill Gold Miners Weeklypay ETF	38.71%	7.48%
UGA United States Gasoline Fund LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both GDXW and UGA in my portfolio?

GDXW and UGA have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GDXW or UGA?

On fees, UGA is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GDXW or UGA?

UGA is cheaper with a 0.75% expense ratio, compared with 0.99% for GDXW.

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

GDXW has the higher dividend yield at 38.71%, compared with 0.00% for UGA.

What is the main difference between GDXW and UGA?

GDXW is categorized as Gold, while UGA is Oil & Gas. They also come from different issuers: Roundhill and Concierge Technologies. Their fees differ too: 0.99% for GDXW and 0.75% for UGA.