GVLU vs. UGA

Last updated Jun 24, 2026

GVLU (Gotham 1000 Value ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - GVLU is a Mid Cap Value Equities fund actively managed by Gotham, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. GVLU is actively managed, while UGA is passively managed. Over the past 3 years, GVLU returned 15.01%/yr vs 18.95%/yr for UGA. At a 0.15 correlation, their price movements are largely independent. GVLU charges 0.51%/yr vs 0.75%/yr for UGA.

Performance

GVLU vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gotham 1000 Value ETF (GVLU) 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, GVLU achieves a 5.62% return, which is significantly lower than UGA's 64.09% return.

GVLU

• 1D: 0.13%
• 1M: -1.23%
• YTD: 5.62%
• 6M: 4.60%
• 1Y: 16.60%
• 3Y*: 15.01%
• 5Y*: —
• 10Y*: —

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%

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

GVLU vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GVLU Gotham 1000 Value ETF	5.62%	11.24%	11.09%	18.02%	-4.22%
UGA United States Gasoline Fund LP	64.09%	-2.00%	3.77%	1.27%	-22.77%

Correlation

The correlation between GVLU and UGA is -0.13, 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	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (All Time) Calculated using the full available price history since Jun 8, 2022	0.15

The correlation between GVLU and UGA shifts across timeframes, from -0.13 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GVLU vs. UGA — Risk / Return Rank

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

GVLU

GVLU Risk / Return Rank: 39
GVLU Sharpe Ratio Rank: 37
GVLU Sortino Ratio Rank: 40
GVLU Omega Ratio Rank: 34
GVLU Calmar Ratio Rank: 44
GVLU Martin Ratio Rank: 43

UGA

UGA Risk / Return Rank: 55
UGA Sharpe Ratio Rank: 53
UGA Sortino Ratio Rank: 48
UGA Omega Ratio Rank: 49
UGA Calmar Ratio Rank: 67
UGA Martin Ratio Rank: 56

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.

GVLU vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gotham 1000 Value ETF (GVLU) 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.

	GVLU	UGA	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.73	-0.49
Sortino ratio: Return per unit of downside risk	1.94	2.25	-0.31
Omega ratio: Gain probability vs. loss probability	1.22	1.30	-0.08
Calmar ratio: Return relative to maximum drawdown	2.05	3.17	-1.12
Martin ratio: Return relative to average drawdown	6.55	9.39	-2.84

GVLU vs. UGA - Sharpe Ratio Comparison

The current GVLU Sharpe Ratio is 1.24, which is comparable to the UGA Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of GVLU and UGA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GVLU vs. UGA - Drawdown Comparison

The maximum GVLU drawdown since its inception was -20.82%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for GVLU and UGA.

Drawdown Indicators

	GVLU	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-20.82%	-86.59%	+65.77%
Max Drawdown (1Y) Largest decline over 1 year	-8.14%	-18.96%	+10.82%
Max Drawdown (3Y) Largest decline over 3 years	-20.82%	-26.68%	+5.86%
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	-2.79%	-18.05%	+15.26%
Average Drawdown Average peak-to-trough decline	-4.14%	-36.69%	+32.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	6.43%	-3.89%

Volatility

GVLU vs. UGA - Volatility Comparison

The current volatility for Gotham 1000 Value ETF (GVLU) is 3.19%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that GVLU 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.

Volatility by Period

	GVLU	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	9.24%	-6.05%
Volatility (6M) Calculated over the trailing 6-month period	9.11%	30.57%	-21.46%
Volatility (1Y) Calculated over the trailing 1-year period	13.42%	35.22%	-21.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.72%	34.45%	-16.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.72%	37.22%	-19.50%

GVLU vs. UGA - Expense Ratio Comparison

GVLU has a 0.51% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

GVLU vs. UGA - Dividend Comparison

GVLU's dividend yield for the trailing twelve months is around 6.10%, while UGA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
GVLU Gotham 1000 Value ETF	6.10%	6.44%	2.88%	1.62%	0.98%
UGA United States Gasoline Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GVLU and UGA in my portfolio?

GVLU and UGA have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GVLU or UGA?

UGA has higher volatility (9.24%) compared to GVLU (3.19%). In terms of maximum drawdown, GVLU dropped -20.82% vs UGA's -86.59%.

Which ETF is better, GVLU or UGA?

On 3-year performance, UGA leads with 18.95% vs 15.01% for GVLU. On fees, GVLU is cheaper at 0.51% per year. On volatility, GVLU has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GVLU or UGA?

Over the 3-year period, UGA has performed better with a 18.95% return vs 15.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GVLU or UGA?

GVLU is cheaper with a 0.51% expense ratio, compared with 0.75% for UGA.

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

GVLU has the higher dividend yield at 6.10%, compared with 0.00% for UGA.

What is the main difference between GVLU and UGA?

GVLU is categorized as Mid Cap Value Equities, while UGA is Oil & Gas. They also come from different issuers: Gotham and Concierge Technologies. Their fees differ too: 0.51% for GVLU and 0.75% for UGA.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (1.73 vs 1.24), 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.