GXUS vs. UGA
GXUS (Goldman Sachs MarketBeta(R) Total International Equity ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - GXUS is a Foreign Large Cap Equities fund tracking the Solactive GBS Global Markets ex United States Large & Mid Cap Index - Benchmark TR Net, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 3 years, GXUS returned 18.29%/yr vs 18.95%/yr for UGA. At a correlation of -0.06, they often move in opposite directions. GXUS charges 0.18%/yr vs 0.75%/yr for UGA.
Performance
GXUS vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, GXUS achieves a 13.23% return, which is significantly lower than UGA's 64.09% return.
GXUS
- 1D
- -3.04%
- 1M
- 0.67%
- YTD
- 13.23%
- 6M
- 13.09%
- 1Y
- 29.17%
- 3Y*
- 18.29%
- 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%
GXUS vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GXUS Goldman Sachs MarketBeta(R) Total International Equity ETF | 13.23% | 31.47% | 4.61% | 6.23% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 0.51% |
Correlation
The correlation between GXUS and UGA is -0.27, 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 | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 2023 | -0.06 |
Over the past year, the inverse relationship between GXUS and UGA has strengthened: their correlation has moved from -0.06 to -0.27, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
GXUS vs. UGA — Risk / Return Rank
GXUS
UGA
GXUS vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs MarketBeta(R) Total International Equity ETF (GXUS) 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.
| GXUS | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.30 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | 3.17 | -0.61 |
| Martin ratioReturn relative to average drawdown | 9.50 | 9.39 | +0.10 |
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Drawdowns
GXUS vs. UGA - Drawdown Comparison
The maximum GXUS drawdown since its inception was -13.90%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for GXUS and UGA.
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Drawdown Indicators
| GXUS | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.90% | -86.59% | +72.69% |
Max Drawdown (1Y)Largest decline over 1 year | -11.46% | -18.96% | +7.50% |
Max Drawdown (3Y)Largest decline over 3 years | -13.90% | -26.68% | +12.78% |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -3.04% | -18.05% | +15.01% |
Average DrawdownAverage peak-to-trough decline | -2.79% | -36.69% | +33.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 6.43% | -3.35% |
Volatility
GXUS vs. UGA - Volatility Comparison
The current volatility for Goldman Sachs MarketBeta(R) Total International Equity ETF (GXUS) is 7.20%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that GXUS 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
| GXUS | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.20% | 9.24% | -2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 14.65% | 30.57% | -15.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.43% | 35.22% | -17.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.55% | 34.45% | -18.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.55% | 37.22% | -21.67% |
GXUS vs. UGA - Expense Ratio Comparison
GXUS has a 0.18% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
GXUS vs. UGA - Dividend Comparison
GXUS's dividend yield for the trailing twelve months is around 2.23%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GXUS Goldman Sachs MarketBeta(R) Total International Equity ETF | 2.23% | 2.66% | 2.87% | 1.28% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GXUS and UGA have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (9.24%) compared to GXUS (7.20%). In terms of maximum drawdown, GXUS dropped -13.90% vs UGA's -86.59%.
On 3-year performance, UGA leads with 18.95% vs 18.29% for GXUS. On fees, GXUS is cheaper at 0.18% per year. On volatility, GXUS has been the lower-risk option at 7.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UGA has performed better with a 18.95% return vs 18.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GXUS is cheaper with a 0.18% expense ratio, compared with 0.75% for UGA.
GXUS has the higher dividend yield at 2.23%, compared with 0.00% for UGA.
GXUS is categorized as Foreign Large Cap Equities, while UGA is Oil & Gas. GXUS tracks Solactive GBS Global Markets ex United States Large & Mid Cap Index - Benchmark TR Net, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Goldman Sachs and Concierge Technologies. Their fees differ too: 0.18% for GXUS and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs 1.68), 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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