HIMZ vs. UGA

Last updated Jun 24, 2026

HIMZ (Defiance Daily Target 2X Long HIMS ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - HIMZ is a Leveraged Equities fund actively managed by Defiance, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. HIMZ is actively managed, while UGA is passively managed. Over the past year, HIMZ returned -79.25% vs 59.74% for UGA. At a correlation of -0.00, they often move in opposite directions. HIMZ charges 1.31%/yr vs 0.75%/yr for UGA.

Performance

HIMZ vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long HIMS ETF (HIMZ) 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, HIMZ achieves a -44.56% return, which is significantly lower than UGA's 64.09% return.

HIMZ

• 1D: -3.64%
• 1M: 78.12%
• YTD: -44.56%
• 6M: -52.24%
• 1Y: -79.25%
• 3Y*: —
• 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)

HIMZ vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025
HIMZ Defiance Daily Target 2X Long HIMS ETF	-44.56%	-69.65%
UGA United States Gasoline Fund LP	64.09%	2.39%

Correlation

The correlation between HIMZ and UGA is -0.11, 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	-0.11
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025	-0.00

The correlation between HIMZ and UGA shifts across timeframes, from -0.11 (1 year) to -0.00 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HIMZ vs. UGA — Risk / Return Rank

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

HIMZ

HIMZ Risk / Return Rank: 5
HIMZ Sharpe Ratio Rank: 5
HIMZ Sortino Ratio Rank: 7
HIMZ Omega Ratio Rank: 7
HIMZ Calmar Ratio Rank: 2
HIMZ Martin Ratio Rank: 4

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.

HIMZ vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long HIMS ETF (HIMZ) 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.

	HIMZ	UGA	Difference
Sharpe ratio: Return per unit of total volatility	-0.43	1.73	-2.16
Sortino ratio: Return per unit of downside risk	-0.01	2.25	-2.26
Omega ratio: Gain probability vs. loss probability	1.00	1.30	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.82	3.17	-3.98
Martin ratio: Return relative to average drawdown	-1.06	9.39	-10.46

HIMZ vs. UGA - Sharpe Ratio Comparison

The current HIMZ Sharpe Ratio is -0.43, which is lower than the UGA Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of HIMZ 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

HIMZ vs. UGA - Drawdown Comparison

The maximum HIMZ drawdown since its inception was -98.18%, which is greater than UGA's maximum drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for HIMZ and UGA.

Drawdown Indicators

	HIMZ	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-98.18%	-86.59%	-11.59%
Max Drawdown (1Y) Largest decline over 1 year	-97.18%	-18.96%	-78.22%
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 Drawdown Current decline from peak	-93.98%	-18.05%	-75.93%
Average Drawdown Average peak-to-trough decline	-69.79%	-36.69%	-33.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	74.50%	6.43%	+68.07%

Volatility

HIMZ vs. UGA - Volatility Comparison

Defiance Daily Target 2X Long HIMS ETF (HIMZ) has a higher volatility of 46.42% compared to United States Gasoline Fund LP (UGA) at 9.24%. This indicates that HIMZ's price experiences larger fluctuations and is considered to be riskier than UGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIMZ	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	46.42%	9.24%	+37.18%
Volatility (6M) Calculated over the trailing 6-month period	136.27%	30.57%	+105.70%
Volatility (1Y) Calculated over the trailing 1-year period	195.06%	35.22%	+159.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	200.31%	34.45%	+165.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	200.31%	37.22%	+163.09%

HIMZ vs. UGA - Expense Ratio Comparison

HIMZ has a 1.31% expense ratio, which is higher than UGA's 0.75% expense ratio.

Dividends

HIMZ vs. UGA - Dividend Comparison

HIMZ's dividend yield for the trailing twelve months is around 4.41%, while UGA has not paid dividends to shareholders.

Position	TTM	2025
HIMZ Defiance Daily Target 2X Long HIMS ETF	4.41%	2.44%
UGA United States Gasoline Fund LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both HIMZ and UGA in my portfolio?

HIMZ and UGA have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HIMZ or UGA?

HIMZ has higher volatility (46.42%) compared to UGA (9.24%). In terms of maximum drawdown, HIMZ dropped -98.18% vs UGA's -86.59%.

Which ETF is better, HIMZ or UGA?

On 1-year performance, UGA leads with 59.74% vs -79.25% for HIMZ. On fees, UGA is cheaper at 0.75% per year. On volatility, UGA has been the lower-risk option at 9.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HIMZ or UGA?

Over the 1-year period, UGA has performed better with a 59.74% return vs -79.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HIMZ or UGA?

UGA is cheaper with a 0.75% expense ratio, compared with 1.31% for HIMZ.

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

HIMZ has the higher dividend yield at 4.41%, compared with 0.00% for UGA.

What is the main difference between HIMZ and UGA?

HIMZ is categorized as Leveraged Equities, while UGA is Oil & Gas. They also come from different issuers: Defiance and Concierge Technologies. Their fees differ too: 1.31% for HIMZ and 0.75% for UGA.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (1.73 vs -0.43), 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.