HYS vs. UGA
HYS (PIMCO 0-5 Year High Yield Corporate Bond Index ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - HYS is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained (0-5 Y), while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, HYS returned 5.38%/yr vs 14.31%/yr for UGA. At a 0.19 correlation, their price movements are largely independent. HYS charges 0.56%/yr vs 0.75%/yr for UGA.
Performance
HYS vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, HYS achieves a 1.56% return, which is significantly lower than UGA's 64.09% return. Over the past 10 years, HYS has underperformed UGA with an annualized return of 5.38%, while UGA has yielded a comparatively higher 14.31% annualized return.
HYS
- 1D
- 0.01%
- 1M
- 0.62%
- YTD
- 1.56%
- 6M
- 1.72%
- 1Y
- 6.52%
- 3Y*
- 8.76%
- 5Y*
- 5.02%
- 10Y*
- 5.38%
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%
HYS vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 1.56% | 8.80% | 8.42% | 11.38% | -5.42% | 4.77% | 3.27% | 10.22% | -1.05% | 5.75% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 1.69% |
Correlation
The correlation between HYS and UGA is -0.30, 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 | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2011 | 0.19 |
The correlation between HYS and UGA shifts across timeframes, from -0.30 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYS vs. UGA — Risk / Return Rank
HYS
UGA
HYS vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) 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.
| HYS | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.30 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 3.17 | +0.31 |
| Martin ratioReturn relative to average drawdown | 14.11 | 9.39 | +4.72 |
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Drawdowns
HYS vs. UGA - Drawdown Comparison
The maximum HYS drawdown since its inception was -20.91%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for HYS and UGA.
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Drawdown Indicators
| HYS | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.91% | -86.59% | +65.68% |
Max Drawdown (1Y)Largest decline over 1 year | -1.88% | -18.96% | +17.08% |
Max Drawdown (3Y)Largest decline over 3 years | -4.98% | -26.68% | +21.70% |
Max Drawdown (5Y)Largest decline over 5 years | -10.61% | -38.11% | +27.50% |
Max Drawdown (10Y)Largest decline over 10 years | -20.91% | -75.89% | +54.98% |
Current DrawdownCurrent decline from peak | -0.14% | -18.05% | +17.91% |
Average DrawdownAverage peak-to-trough decline | -1.53% | -36.69% | +35.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 6.43% | -5.97% |
Volatility
HYS vs. UGA - Volatility Comparison
The current volatility for PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) is 0.79%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that HYS 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
| HYS | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 9.24% | -8.45% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 30.57% | -27.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.48% | 35.22% | -31.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.27% | 34.45% | -28.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.83% | 37.22% | -30.39% |
HYS vs. UGA - Expense Ratio Comparison
HYS has a 0.56% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
HYS vs. UGA - Dividend Comparison
HYS's dividend yield for the trailing twelve months is around 7.34%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 7.34% | 7.20% | 7.43% | 6.44% | 5.01% | 3.74% | 4.52% | 4.98% | 4.64% | 5.01% | 5.13% | 5.22% |
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
HYS and UGA have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (9.24%) compared to HYS (0.79%). In terms of maximum drawdown, HYS dropped -20.91% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.31% vs 5.38% for HYS. On fees, HYS is cheaper at 0.56% per year. On volatility, HYS has been the lower-risk option at 0.79%. 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 14.31% return vs 5.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYS is cheaper with a 0.56% expense ratio, compared with 0.75% for UGA.
HYS has the higher dividend yield at 7.34%, compared with 0.00% for UGA.
HYS is categorized as High Yield Bonds, while UGA is Oil & Gas. HYS tracks ICE BofA US High Yield Constrained (0-5 Y), while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: PIMCO and Concierge Technologies. Their fees differ too: 0.56% for HYS and 0.75% for UGA.
HYS currently has the higher Sharpe Ratio (1.89 vs 1.73), 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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