HDEF vs. UGA
HDEF (Xtrackers MSCI EAFE High Dividend Yield Equity ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - HDEF is a Foreign Large Cap Equities fund tracking the MSCI EAFE High Dividend Yield US Dollar Hedged Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, HDEF returned 8.99%/yr vs 13.99%/yr for UGA. At a 0.17 correlation, their price movements are largely independent. HDEF charges 0.20%/yr vs 0.75%/yr for UGA.
Performance
HDEF vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, HDEF achieves a 5.37% return, which is significantly lower than UGA's 59.54% return. Over the past 10 years, HDEF has underperformed UGA with an annualized return of 8.99%, while UGA has yielded a comparatively higher 13.99% annualized return.
HDEF
- 1D
- 0.38%
- 1M
- -1.86%
- YTD
- 5.37%
- 6M
- 5.13%
- 1Y
- 15.76%
- 3Y*
- 16.86%
- 5Y*
- 10.37%
- 10Y*
- 8.99%
UGA
- 1D
- -2.77%
- 1M
- -14.54%
- YTD
- 59.54%
- 6M
- 55.91%
- 1Y
- 62.68%
- 3Y*
- 17.85%
- 5Y*
- 22.22%
- 10Y*
- 13.99%
HDEF vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF | 5.37% | 33.01% | 2.85% | 18.53% | -2.51% | 6.95% | -1.90% | 25.02% | -13.74% | 9.89% |
UGA United States Gasoline Fund LP | 59.54% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 1.69% |
Correlation
The correlation between HDEF and UGA is -0.19, 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 | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2015 | 0.17 |
The correlation between HDEF and UGA shifts across timeframes, from -0.19 (1 year) to 0.17 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
HDEF vs. UGA — Risk / Return Rank
HDEF
UGA
HDEF vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) 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.
| HDEF | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.31 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 3.10 | -1.13 |
| Martin ratioReturn relative to average drawdown | 5.64 | 9.66 | -4.02 |
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Drawdowns
HDEF vs. UGA - Drawdown Comparison
The maximum HDEF drawdown since its inception was -36.43%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for HDEF and UGA.
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Drawdown Indicators
| HDEF | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.43% | -86.59% | +50.16% |
Max Drawdown (1Y)Largest decline over 1 year | -8.03% | -20.32% | +12.29% |
Max Drawdown (3Y)Largest decline over 3 years | -11.15% | -26.68% | +15.53% |
Max Drawdown (5Y)Largest decline over 5 years | -23.63% | -38.11% | +14.48% |
Max Drawdown (10Y)Largest decline over 10 years | -36.43% | -75.89% | +39.46% |
Current DrawdownCurrent decline from peak | -4.44% | -20.32% | +15.88% |
Average DrawdownAverage peak-to-trough decline | -5.05% | -36.69% | +31.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.80% | 6.51% | -3.71% |
Volatility
HDEF vs. UGA - Volatility Comparison
The current volatility for Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) is 3.05%, while United States Gasoline Fund LP (UGA) has a volatility of 9.45%. This indicates that HDEF 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
| HDEF | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 9.45% | -6.40% |
Volatility (6M)Calculated over the trailing 6-month period | 9.32% | 30.74% | -21.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.73% | 34.84% | -23.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.13% | 34.47% | -20.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.12% | 37.22% | -21.10% |
HDEF vs. UGA - Expense Ratio Comparison
HDEF has a 0.20% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
HDEF vs. UGA - Dividend Comparison
HDEF's dividend yield for the trailing twelve months is around 3.94%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF | 3.94% | 3.88% | 4.53% | 4.38% | 5.41% | 4.76% | 3.93% | 4.20% | 3.55% | 3.38% | 9.53% | 1.87% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HDEF and UGA have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (9.45%) compared to HDEF (3.05%). In terms of maximum drawdown, HDEF dropped -36.43% vs UGA's -86.59%.
On 10-year performance, UGA leads with 13.99% vs 8.99% for HDEF. On fees, HDEF is cheaper at 0.20% per year. On volatility, HDEF has been the lower-risk option at 3.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UGA has performed better with a 13.99% return vs 8.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HDEF is cheaper with a 0.20% expense ratio, compared with 0.75% for UGA.
HDEF has the higher dividend yield at 3.94%, compared with 0.00% for UGA.
HDEF is categorized as Foreign Large Cap Equities, while UGA is Oil & Gas. HDEF tracks MSCI EAFE High Dividend Yield US Dollar Hedged Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Deutsche Bank and Concierge Technologies. Their fees differ too: 0.20% for HDEF and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.82 vs 1.35), 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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