HYBB vs. UGA
HYBB (iShares BB Rated Corporate Bond ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - HYBB is a High Yield Bonds fund tracking the ICE BofA BB US High Yield Constrained Index (USD), while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 5 years, HYBB returned 3.63%/yr vs 24.41%/yr for UGA. At a 0.06 correlation, their price movements are largely independent. HYBB charges 0.25%/yr vs 0.75%/yr for UGA.
Performance
HYBB vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, HYBB achieves a 1.39% return, which is significantly lower than UGA's 70.69% return.
HYBB
- 1D
- 0.08%
- 1M
- 0.42%
- YTD
- 1.39%
- 6M
- 1.78%
- 1Y
- 6.52%
- 3Y*
- 7.96%
- 5Y*
- 3.63%
- 10Y*
- —
UGA
- 1D
- -2.73%
- 1M
- -12.25%
- YTD
- 70.69%
- 6M
- 59.72%
- 1Y
- 79.48%
- 3Y*
- 20.80%
- 5Y*
- 24.41%
- 10Y*
- 14.27%
HYBB vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HYBB iShares BB Rated Corporate Bond ETF | 1.39% | 8.95% | 6.35% | 10.53% | -10.11% | 3.36% | 4.29% |
UGA United States Gasoline Fund LP | 70.69% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | 16.32% |
Correlation
The correlation between HYBB and UGA is -0.34, 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 | -0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2020 | 0.06 |
The correlation between HYBB and UGA shifts across timeframes, from -0.34 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYBB vs. UGA — Risk / Return Rank
HYBB
UGA
HYBB vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares BB Rated Corporate Bond ETF (HYBB) 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.
| HYBB | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.37 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 5.37 | -2.74 |
| Martin ratioReturn relative to average drawdown | 11.88 | 12.86 | -0.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYBB | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 2.27 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.71 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.12 | +0.51 |
Drawdowns
HYBB vs. UGA - Drawdown Comparison
The maximum HYBB drawdown since its inception was -15.28%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for HYBB and UGA.
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Drawdown Indicators
| HYBB | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.28% | -86.59% | +71.31% |
Max Drawdown (1Y)Largest decline over 1 year | -2.48% | -14.88% | +12.40% |
Max Drawdown (3Y)Largest decline over 3 years | -4.01% | -26.68% | +22.67% |
Max Drawdown (5Y)Largest decline over 5 years | -15.28% | -38.11% | +22.83% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -0.26% | -14.75% | +14.49% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -36.76% | +33.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 6.20% | -5.65% |
Volatility
HYBB vs. UGA - Volatility Comparison
The current volatility for iShares BB Rated Corporate Bond ETF (HYBB) is 0.98%, while United States Gasoline Fund LP (UGA) has a volatility of 11.64%. This indicates that HYBB 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
| HYBB | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 11.64% | -10.66% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 30.48% | -27.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.28% | 35.27% | -31.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.93% | 34.40% | -27.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.67% | 37.27% | -30.60% |
HYBB vs. UGA - Expense Ratio Comparison
HYBB has a 0.25% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
HYBB vs. UGA - Dividend Comparison
HYBB's dividend yield for the trailing twelve months is around 5.86%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
HYBB iShares BB Rated Corporate Bond ETF | 5.86% | 6.08% | 6.22% | 6.28% | 5.04% | 3.86% | 0.76% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYBB and UGA have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.64%) compared to HYBB (0.98%). In terms of maximum drawdown, HYBB dropped -15.28% vs UGA's -86.59%.
On 5-year performance, UGA leads with 24.41% vs 3.63% for HYBB. On fees, HYBB is cheaper at 0.25% per year. On volatility, HYBB has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UGA has performed better with a 24.41% return vs 3.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYBB is cheaper with a 0.25% expense ratio, compared with 0.75% for UGA.
HYBB has the higher dividend yield at 5.86%, compared with 0.00% for UGA.
HYBB is categorized as High Yield Bonds, while UGA is Oil & Gas. HYBB tracks ICE BofA BB US High Yield Constrained Index (USD), while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.25% for HYBB and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.27 vs 2.00), 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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