HCOW vs. UGA
HCOW (Amplify Cash Flow High Income ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - HCOW is a Large Cap Value Equities fund actively managed by Amplify, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. HCOW is actively managed, while UGA is passively managed. Over the past year, HCOW returned 21.68% vs 80.94% for UGA. At a 0.07 correlation, their price movements are largely independent. HCOW charges 0.65%/yr vs 0.75%/yr for UGA.
Performance
HCOW vs. UGA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HCOW achieves a 4.48% return, which is significantly lower than UGA's 75.49% return.
HCOW
- 1D
- -0.36%
- 1M
- 3.03%
- YTD
- 4.48%
- 6M
- 4.26%
- 1Y
- 21.68%
- 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%
HCOW vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HCOW Amplify Cash Flow High Income ETF | 4.48% | 5.76% | 7.63% | 6.44% |
UGA United States Gasoline Fund LP | 75.49% | -2.00% | 3.77% | -15.73% |
Correlation
The correlation between HCOW and UGA is -0.18, 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 | -0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2023 | 0.07 |
The correlation between HCOW and UGA shifts across timeframes, from -0.18 (1 year) to 0.07 (all time), 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
HCOW vs. UGA — Risk / Return Rank
HCOW
UGA
HCOW vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amplify Cash Flow High Income ETF (HCOW) 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.
| HCOW | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.37 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 5.47 | -2.01 |
| Martin ratioReturn relative to average drawdown | 11.15 | 13.25 | -2.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HCOW | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 2.32 | -0.74 |
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 | 0.52 | 0.12 | +0.40 |
Drawdowns
HCOW vs. UGA - Drawdown Comparison
The maximum HCOW drawdown since its inception was -24.15%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for HCOW and UGA.
Loading charts...
Drawdown Indicators
| HCOW | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.15% | -86.59% | +62.44% |
Max Drawdown (1Y)Largest decline over 1 year | -6.29% | -14.88% | +8.59% |
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 DrawdownCurrent decline from peak | -0.36% | -12.35% | +11.99% |
Average DrawdownAverage peak-to-trough decline | -4.88% | -36.76% | +31.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 6.13% | -4.18% |
Volatility
HCOW vs. UGA - Volatility Comparison
The current volatility for Amplify Cash Flow High Income ETF (HCOW) is 3.63%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that HCOW 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
| HCOW | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.63% | 11.66% | -8.03% |
Volatility (6M)Calculated over the trailing 6-month period | 8.74% | 30.41% | -21.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.89% | 35.14% | -21.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.60% | 34.38% | -16.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.60% | 37.27% | -19.67% |
HCOW vs. UGA - Expense Ratio Comparison
HCOW has a 0.65% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
HCOW vs. UGA - Dividend Comparison
HCOW's dividend yield for the trailing twelve months is around 11.73%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
HCOW Amplify Cash Flow High Income ETF | 11.73% | 10.88% | 8.13% | 1.99% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HCOW and UGA have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.66%) compared to HCOW (3.63%). In terms of maximum drawdown, HCOW dropped -24.15% vs UGA's -86.59%.
On 1-year performance, UGA leads with 80.94% vs 21.68% for HCOW. On fees, HCOW is cheaper at 0.65% per year. On volatility, HCOW has been the lower-risk option at 3.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, UGA has performed better with a 80.94% return vs 21.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HCOW is cheaper with a 0.65% expense ratio, compared with 0.75% for UGA.
HCOW has the higher dividend yield at 11.73%, compared with 0.00% for UGA.
HCOW is categorized as Large Cap Value Equities, while UGA is Oil & Gas. They also come from different issuers: Amplify and Concierge Technologies. Their fees differ too: 0.65% for HCOW and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.32 vs 1.57), 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 HCOW 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