HOOX vs. UGA

Last updated Jun 24, 2026

HOOX (Defiance Daily Target 2X Long HOOD ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - HOOX is a Leveraged Equities fund actively managed by Defiance, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. HOOX is actively managed, while UGA is passively managed. Over the past year, HOOX returned -7.26% vs 59.74% for UGA. At a correlation of -0.09, they often move in opposite directions. HOOX charges 1.31%/yr vs 0.75%/yr for UGA.

Performance

HOOX vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long HOOD ETF (HOOX) 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, HOOX achieves a -41.20% return, which is significantly lower than UGA's 64.09% return.

HOOX

• 1D: -4.60%
• 1M: 83.42%
• YTD: -41.20%
• 6M: -48.54%
• 1Y: -7.26%
• 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)

HOOX vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025
HOOX Defiance Daily Target 2X Long HOOD ETF	-41.20%	342.84%
UGA United States Gasoline Fund LP	64.09%	1.51%

Correlation

The correlation between HOOX 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 Mar 19, 2025	-0.09

Return for Risk

HOOX vs. UGA — Risk / Return Rank

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

HOOX

HOOX Risk / Return Rank: 12
HOOX Sharpe Ratio Rank: 8
HOOX Sortino Ratio Rank: 18
HOOX Omega Ratio Rank: 18
HOOX Calmar Ratio Rank: 8
HOOX Martin Ratio Rank: 8

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.

HOOX vs. UGA - Risk-Adjusted Trends Comparison

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

	HOOX	UGA	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	1.73	-1.78
Sortino ratio: Return per unit of downside risk	0.97	2.25	-1.28
Omega ratio: Gain probability vs. loss probability	1.11	1.30	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.08	3.17	-3.25
Martin ratio: Return relative to average drawdown	-0.13	9.39	-9.52

HOOX vs. UGA - Sharpe Ratio Comparison

The current HOOX Sharpe Ratio is -0.05, which is lower than the UGA Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of HOOX 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

HOOX vs. UGA - Drawdown Comparison

The maximum HOOX drawdown since its inception was -87.11%, roughly equal to the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for HOOX and UGA.

Drawdown Indicators

	HOOX	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-87.11%	-86.59%	-0.52%
Max Drawdown (1Y) Largest decline over 1 year	-87.11%	-18.96%	-68.15%
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	-72.78%	-18.05%	-54.73%
Average Drawdown Average peak-to-trough decline	-38.95%	-36.69%	-2.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	56.21%	6.43%	+49.78%

Volatility

HOOX vs. UGA - Volatility Comparison

Defiance Daily Target 2X Long HOOD ETF (HOOX) has a higher volatility of 46.79% compared to United States Gasoline Fund LP (UGA) at 9.24%. This indicates that HOOX'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

	HOOX	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	46.79%	9.24%	+37.55%
Volatility (6M) Calculated over the trailing 6-month period	102.33%	30.57%	+71.76%
Volatility (1Y) Calculated over the trailing 1-year period	139.87%	35.22%	+104.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	143.98%	34.45%	+109.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	143.98%	37.22%	+106.76%

HOOX vs. UGA - Expense Ratio Comparison

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

Dividends

HOOX vs. UGA - Dividend Comparison

HOOX's dividend yield for the trailing twelve months is around 24.02%, while UGA has not paid dividends to shareholders.

Position	TTM	2025
HOOX Defiance Daily Target 2X Long HOOD ETF	24.02%	14.12%
UGA United States Gasoline Fund LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both HOOX and UGA in my portfolio?

HOOX 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, HOOX or UGA?

HOOX has higher volatility (46.79%) compared to UGA (9.24%). In terms of maximum drawdown, HOOX dropped -87.11% vs UGA's -86.59%.

Which ETF is better, HOOX or UGA?

On 1-year performance, UGA leads with 59.74% vs -7.26% for HOOX. 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, HOOX or UGA?

Over the 1-year period, UGA has performed better with a 59.74% return vs -7.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HOOX or UGA?

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

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

HOOX has the higher dividend yield at 24.02%, compared with 0.00% for UGA.

What is the main difference between HOOX and UGA?

HOOX 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 HOOX and 0.75% for UGA.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (1.73 vs -0.05), 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.