IBGB vs. UGA
IBGB (iShares iBonds Dec 2045 Term Treasury ETF) and UGA (United States Gasoline Fund, LP) are both exchange-traded funds - IBGB is a Government Bonds fund tracking the ICE 2045 Maturity US Treasury Index, while UGA is a Oil & Gas fund tracking the Near-Month NYMEX RBOB Gasoline Futures Contract. Both are passively managed. Over the past year, IBGB returned -0.26% vs 71.86% for UGA. Their -0.35 correlation means they have often moved in opposite directions in the past. IBGB charges 0.07%/yr vs 1.02%/yr for UGA.
Performance
IBGB vs. UGA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IBGB achieves a -1.86% return, which is significantly lower than UGA's 73.74% return.
IBGB
- 1D
- 0.77%
- 1M
- -2.11%
- 6M
- -1.81%
- YTD
- -1.86%
- 1Y
- -0.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.52%
UGA
- 1D
- -4.00%
- 1M
- 4.18%
- 6M
- 57.40%
- YTD
- 73.74%
- 1Y
- 71.86%
- 3Y*
- 15.08%
- 5Y*
- 23.69%
- 10Y*
- 16.34%
- ALL TIME*
- 4.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $32.56K | $33.15K | $77.72K | |
| $8.76M | $6.07M | $5.03M |
IBGB vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBGB iShares iBonds Dec 2045 Term Treasury ETF | -1.86% | 2.62% |
UGA United States Gasoline Fund, LP | 73.74% | -0.60% |
Correlation
The correlation between IBGB and UGA is -0.41, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.41 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | -0.35 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBGB vs. UGA — Risk / Return Rank
IBGB
UGA
IBGB vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2045 Term Treasury ETF (IBGB) 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.
| IBGB | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.01 | ||
| Sortino ratioReturn per unit of downside risk | -2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.32 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 3.56 | -3.59 |
| Martin ratioReturn relative to average drawdown | -0.08 | 9.88 | -9.96 |
Loading charts...
Drawdowns
IBGB vs. UGA - Drawdown Comparison
The maximum IBGB drawdown since its inception was -8.09%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for IBGB and UGA.
Loading charts...
Drawdown Indicators
| IBGB | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.09% | -86.59% | +78.50% |
Max Drawdown (1Y)Largest decline over 1 year | -6.79% | -20.32% | +13.53% |
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 DrawdownCurrent decline from peak | -5.59% | -14.19% | +8.60% |
Average DrawdownAverage peak-to-trough decline | -3.31% | -36.52% | +33.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 7.30% | -4.23% |
Volatility
IBGB vs. UGA - Volatility Comparison
The current volatility for iShares iBonds Dec 2045 Term Treasury ETF (IBGB) is 2.36%, while United States Gasoline Fund, LP (UGA) has a volatility of 13.00%. This indicates that IBGB 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.
Loading charts...
Volatility by Period
| IBGB | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 13.00% | -10.64% |
Volatility (6M)Calculated over the trailing 6-month period | 6.21% | 32.31% | -26.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.02% | 36.60% | -28.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.37% | 34.73% | -25.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.37% | 37.32% | -27.95% |
IBGB vs. UGA - Expense Ratio Comparison
IBGB has a 0.07% expense ratio, which is lower than UGA's 1.02% expense ratio.
Dividends
IBGB vs. UGA - Dividend Comparison
IBGB's dividend yield for the trailing twelve months is around 4.74%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
IBGB iShares iBonds Dec 2045 Term Treasury ETF | 4.74% | 3.53% |
UGA United States Gasoline Fund, LP | 0.00% | 0.00% |
Frequently Asked Questions
IBGB and UGA have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (13.00%) compared to IBGB (2.36%). In terms of maximum drawdown, IBGB dropped -8.09% vs UGA's -86.59%.
On 1-year performance, UGA leads with 71.86% vs -0.26% for IBGB. On fees, IBGB is cheaper at 0.07% per year. On volatility, IBGB has been the lower-risk option at 2.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, UGA has performed better with a 71.86% return vs -0.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBGB is cheaper with a 0.07% expense ratio, compared with 1.02% for UGA.
IBGB has the higher dividend yield at 4.74%, compared with 0.00% for UGA.
IBGB is categorized as Government Bonds, while UGA is Oil & Gas. IBGB tracks ICE 2045 Maturity US Treasury Index, while UGA tracks Near-Month NYMEX RBOB Gasoline Futures Contract. They also come from different issuers: iShares and USCF. Their fees differ too: 0.07% for IBGB and 1.02% for UGA.
UGA currently has the higher Sharpe Ratio (1.97 vs -0.03), 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.
Find the right allocation for IBGB and UGA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer