GTOQ vs. UGA
GTOQ (Invesco High Yield Systematic Bond ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - GTOQ is a High Yield Bonds fund actively managed by Invesco, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. GTOQ is actively managed, while UGA is passively managed. Over the past 5 years, GTOQ returned 3.76%/yr vs 25.78%/yr for UGA. Their 0.02 correlation means their historical movements had little consistent relationship. GTOQ charges 0.39%/yr vs 0.75%/yr for UGA.
Performance
GTOQ vs. UGA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GTOQ achieves a 1.80% return, which is significantly lower than UGA's 91.06% return.
GTOQ
- 1D
- -0.02%
- 1M
- -0.26%
- 6M
- 1.10%
- YTD
- 1.80%
- 1Y
- 5.40%
- 3Y*
- 8.14%
- 5Y*
- 3.76%
- 10Y*
- —
- ALL TIME*
- 4.19%
UGA
- 1D
- -0.01%
- 1M
- 14.56%
- 6M
- 70.02%
- YTD
- 91.06%
- 1Y
- 88.12%
- 3Y*
- 17.55%
- 5Y*
- 25.78%
- 10Y*
- 18.03%
- ALL TIME*
- 4.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $55.75K | $50.01K | $1.37M | |
| $6.47M | $5.01M | $4.85M |
GTOQ vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GTOQ Invesco High Yield Systematic Bond ETF | 1.80% | 8.04% | 8.13% | 14.17% | -12.17% | 5.37% | 0.38% |
UGA United States Gasoline Fund LP | 91.06% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | 14.24% |
Correlation
The correlation between GTOQ and UGA is -0.35, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.35 |
Correlation (3Y) Balances recent behavior with more history. | -0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020 | 0.02 |
The correlation between GTOQ and UGA shifts across timeframes, from -0.35 (1 year) to 0.03 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GTOQ vs. UGA — Risk / Return Rank
GTOQ
UGA
GTOQ vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Systematic Bond ETF (GTOQ) 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.
| GTOQ | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.37 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 4.12 | -2.27 |
| Martin ratioReturn relative to average drawdown | 7.87 | 11.57 | -3.70 |
Loading charts...
Drawdowns
GTOQ vs. UGA - Drawdown Comparison
The maximum GTOQ drawdown since its inception was -15.96%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for GTOQ and UGA.
Loading charts...
Drawdown Indicators
| GTOQ | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.96% | -86.59% | +70.63% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -20.32% | +17.37% |
Max Drawdown (3Y)Largest decline over 3 years | -5.25% | -26.68% | +21.43% |
Max Drawdown (5Y)Largest decline over 5 years | -15.96% | -38.11% | +22.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -0.35% | -5.63% | +5.28% |
Average DrawdownAverage peak-to-trough decline | -3.22% | -36.53% | +33.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 7.26% | -6.57% |
Volatility
GTOQ vs. UGA - Volatility Comparison
The current volatility for Invesco High Yield Systematic Bond ETF (GTOQ) is 0.76%, while United States Gasoline Fund LP (UGA) has a volatility of 11.28%. This indicates that GTOQ 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.
Loading charts...
Volatility by Period
| GTOQ | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 11.28% | -10.52% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 31.98% | -29.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.62% | 36.11% | -32.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.72% | 34.60% | -28.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.46% | 37.26% | -31.80% |
GTOQ vs. UGA - Expense Ratio Comparison
GTOQ has a 0.39% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
GTOQ vs. UGA - Dividend Comparison
GTOQ's dividend yield for the trailing twelve months is around 6.88%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
GTOQ Invesco High Yield Systematic Bond ETF | 6.88% | 7.04% | 7.20% | 6.76% | 6.17% | 4.86% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GTOQ and UGA have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.28%) compared to GTOQ (0.76%). In terms of maximum drawdown, GTOQ dropped -15.96% vs UGA's -86.59%.
On 5-year performance, UGA leads with 25.78% vs 3.76% for GTOQ. On fees, GTOQ is cheaper at 0.39% per year. On volatility, GTOQ has been the lower-risk option at 0.76%. 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 25.78% return vs 3.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GTOQ is cheaper with a 0.39% expense ratio, compared with 0.75% for UGA.
GTOQ has the higher dividend yield at 6.88%, compared with 0.00% for UGA.
GTOQ is categorized as High Yield Bonds, while UGA is Oil & Gas. They also come from different issuers: Invesco and Concierge Technologies. Their fees differ too: 0.39% for GTOQ and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.32 vs 1.51), 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.
Find the right allocation for GTOQ and UGA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer