GEVG vs. UGA

Last updated Jun 4, 2026

GEVG (Leverage Shares 2X Long GEV Daily ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - GEVG is a Leveraged Equities fund actively managed by Leverage Shares, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. GEVG is actively managed, while UGA is passively managed. At a correlation of -0.25, they often move in opposite directions. Both charge a 0.75% expense ratio.

Performance

GEVG vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long GEV Daily ETF (GEVG) 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, GEVG achieves a 88.18% return, which is significantly higher than UGA's 75.49% return.

GEVG

• 1D: -2.09%
• 1M: -22.22%
• YTD: 88.18%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UGA

• 1D: -0.19%
• 1M: -12.35%
• YTD: 75.49%
• 6M: 64.35%
• 1Y: 80.94%
• 3Y*: 22.21%
• 5Y*: 25.10%
• 10Y*: 14.43%

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

GEVG vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025
GEVG Leverage Shares 2X Long GEV Daily ETF	88.18%	-11.09%
UGA United States Gasoline Fund LP	75.49%	1.85%

Correlation

The correlation between GEVG and UGA is -0.25, 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 Dec 17, 2025	-0.25

Return for Risk

GEVG 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: 69
UGA Sharpe Ratio Rank: 69
UGA Sortino Ratio Rank: 57
UGA Omega Ratio Rank: 60
UGA Calmar Ratio Rank: 89
UGA Martin Ratio Rank: 71

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.

GEVG vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long GEV Daily ETF (GEVG) 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

	GEVG	UGA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.32	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.73	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.17	0.12	+2.05

Drawdowns

GEVG vs. UGA - Drawdown Comparison

The maximum GEVG drawdown since its inception was -33.81%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for GEVG and UGA.

Drawdown Indicators

	GEVG	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-33.81%	-86.59%	+52.78%
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	-32.62%	-12.35%	-20.27%
Average Drawdown Average peak-to-trough decline	-9.25%	-36.76%	+27.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.13%	—

Volatility

Volatility by Period

	GEVG	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.66%	—
Volatility (6M) Calculated over the trailing 6-month period	—	30.41%	—
Volatility (1Y) Calculated over the trailing 1-year period	96.61%	35.14%	+61.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	96.61%	34.38%	+62.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	96.61%	37.27%	+59.34%

GEVG vs. UGA - Expense Ratio Comparison

Both GEVG and UGA have an expense ratio of 0.75%.

Dividends

GEVG vs. UGA - Dividend Comparison

Neither GEVG nor UGA has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GEVG and UGA in my portfolio?

GEVG and UGA have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GEVG or UGA?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GEVG or UGA?

GEVG and UGA have the same expense ratio: 0.75% per year.

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

GEVG and UGA have nearly identical dividend yields, around 0.00%.

What is the main difference between GEVG and UGA?

GEVG is categorized as Leveraged Equities, while UGA is Oil & Gas. They also come from different issuers: Leverage Shares and Concierge Technologies.