HOOW vs. UGA

Last updated Jun 24, 2026

HOOW (Roundhill HOOD WeeklyPay ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - HOOW is a Leveraged Equities fund actively managed by Roundhill, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. HOOW is actively managed, while UGA is passively managed. Over the past year, HOOW returned 28.92% vs 59.74% for UGA. At a correlation of -0.18, they often move in opposite directions. HOOW charges 0.99%/yr vs 0.75%/yr for UGA.

Performance

HOOW vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill HOOD WeeklyPay ETF (HOOW) 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, HOOW achieves a -14.70% return, which is significantly lower than UGA's 64.09% return.

HOOW

• 1D: -2.94%
• 1M: 47.20%
• YTD: -14.70%
• 6M: -20.92%
• 1Y: 28.92%
• 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)

HOOW vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025
HOOW Roundhill HOOD WeeklyPay ETF	-14.70%	52.60%
UGA United States Gasoline Fund LP	64.09%	-5.82%

Correlation

The correlation between HOOW 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 (All Time) Calculated using the full available price history since Jun 18, 2025	-0.18

Return for Risk

HOOW vs. UGA — Risk / Return Rank

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

HOOW

HOOW Risk / Return Rank: 16
HOOW Sharpe Ratio Rank: 14
HOOW Sortino Ratio Rank: 20
HOOW Omega Ratio Rank: 19
HOOW Calmar Ratio Rank: 14
HOOW Martin Ratio Rank: 12

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.

HOOW vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill HOOD WeeklyPay ETF (HOOW) 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.

	HOOW	UGA	Difference
Sharpe ratio: Return per unit of total volatility	0.34	1.73	-1.39
Sortino ratio: Return per unit of downside risk	1.10	2.25	-1.15
Omega ratio: Gain probability vs. loss probability	1.13	1.30	-0.17
Calmar ratio: Return relative to maximum drawdown	0.44	3.17	-2.72
Martin ratio: Return relative to average drawdown	0.76	9.39	-8.63

HOOW vs. UGA - Sharpe Ratio Comparison

The current HOOW Sharpe Ratio is 0.34, which is lower than the UGA Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of HOOW 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

HOOW vs. UGA - Drawdown Comparison

The maximum HOOW drawdown since its inception was -65.74%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for HOOW and UGA.

Drawdown Indicators

	HOOW	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-65.74%	-86.59%	+20.85%
Max Drawdown (1Y) Largest decline over 1 year	-65.74%	-18.96%	-46.78%
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	-42.07%	-18.05%	-24.02%
Average Drawdown Average peak-to-trough decline	-29.96%	-36.69%	+6.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.05%	6.43%	+31.62%

Volatility

HOOW vs. UGA - Volatility Comparison

Roundhill HOOD WeeklyPay ETF (HOOW) has a higher volatility of 28.68% compared to United States Gasoline Fund LP (UGA) at 9.24%. This indicates that HOOW'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

	HOOW	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.68%	9.24%	+19.44%
Volatility (6M) Calculated over the trailing 6-month period	62.22%	30.57%	+31.65%
Volatility (1Y) Calculated over the trailing 1-year period	84.38%	35.22%	+49.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	84.14%	34.45%	+49.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	84.14%	37.22%	+46.92%

HOOW vs. UGA - Expense Ratio Comparison

HOOW has a 0.99% expense ratio, which is higher than UGA's 0.75% expense ratio.

Dividends

HOOW vs. UGA - Dividend Comparison

HOOW's dividend yield for the trailing twelve months is around 136.33%, while UGA has not paid dividends to shareholders.

Position	TTM	2025
HOOW Roundhill HOOD WeeklyPay ETF	136.33%	67.92%
UGA United States Gasoline Fund LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both HOOW and UGA in my portfolio?

HOOW 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.

Which is riskier, HOOW or UGA?

HOOW has higher volatility (28.68%) compared to UGA (9.24%). In terms of maximum drawdown, HOOW dropped -65.74% vs UGA's -86.59%.

Which ETF is better, HOOW or UGA?

On 1-year performance, UGA leads with 59.74% vs 28.92% for HOOW. 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, HOOW or UGA?

Over the 1-year period, UGA has performed better with a 59.74% return vs 28.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HOOW or UGA?

UGA is cheaper with a 0.75% expense ratio, compared with 0.99% for HOOW.

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

HOOW has the higher dividend yield at 136.33%, compared with 0.00% for UGA.

What is the main difference between HOOW and UGA?

HOOW is categorized as Leveraged Equities, while UGA is Oil & Gas. They also come from different issuers: Roundhill and Concierge Technologies. Their fees differ too: 0.99% for HOOW and 0.75% for UGA.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (1.73 vs 0.34), 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.