IBGK vs. UGA
IBGK (iShares iBonds Dec 2054 Term Treasury ETF) and UGA (United States Gasoline Fund, LP) are both exchange-traded funds - IBGK is a Long-Term Bond fund tracking the ICE 2054 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, IBGK returned -1.96% vs 78.20% for UGA. Their -0.27 correlation means they have often moved in opposite directions in the past. IBGK charges 0.07%/yr vs 1.02%/yr for UGA.
Performance
IBGK vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, IBGK achieves a -3.18% return, which is significantly lower than UGA's 80.98% return.
IBGK
- 1D
- 0.42%
- 1M
- -3.43%
- 6M
- -2.71%
- YTD
- -3.18%
- 1Y
- -1.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.45%
UGA
- 1D
- -5.27%
- 1M
- 8.52%
- 6M
- 69.92%
- YTD
- 80.98%
- 1Y
- 78.20%
- 3Y*
- 16.66%
- 5Y*
- 25.31%
- 10Y*
- 16.82%
- ALL TIME*
- 4.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.80K | $17.29K | $31.57K | |
| $8.16M | $5.91M | $4.98M |
IBGK vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBGK iShares iBonds Dec 2054 Term Treasury ETF | -3.18% | 3.66% | -3.44% |
UGA United States Gasoline Fund, LP | 80.98% | -2.00% | -2.61% |
Correlation
The correlation between IBGK and UGA is -0.39, 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. | -0.39 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2024 | -0.27 |
The correlation between IBGK and UGA shifts across timeframes, from -0.39 (1 year) to -0.27 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBGK vs. UGA — Risk / Return Rank
IBGK
UGA
IBGK vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2054 Term Treasury ETF (IBGK) 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.
| IBGK | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.39 | ||
| Sortino ratioReturn per unit of downside risk | -2.91 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.35 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 3.87 | -4.13 |
| Martin ratioReturn relative to average drawdown | -0.57 | 10.83 | -11.40 |
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Drawdowns
IBGK vs. UGA - Drawdown Comparison
The maximum IBGK drawdown since its inception was -14.62%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for IBGK and UGA.
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Drawdown Indicators
| IBGK | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.62% | -86.59% | +71.97% |
Max Drawdown (1Y)Largest decline over 1 year | -7.48% | -20.32% | +12.84% |
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 | -11.76% | -10.61% | -1.15% |
Average DrawdownAverage peak-to-trough decline | -8.15% | -36.53% | +28.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 7.25% | -3.81% |
Volatility
IBGK vs. UGA - Volatility Comparison
The current volatility for iShares iBonds Dec 2054 Term Treasury ETF (IBGK) is 2.45%, while United States Gasoline Fund, LP (UGA) has a volatility of 12.68%. This indicates that IBGK 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
| IBGK | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.45% | 12.68% | -10.23% |
Volatility (6M)Calculated over the trailing 6-month period | 6.58% | 32.51% | -25.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.86% | 36.42% | -27.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.62% | 34.68% | -23.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.62% | 37.30% | -25.68% |
IBGK vs. UGA - Expense Ratio Comparison
IBGK has a 0.07% expense ratio, which is lower than UGA's 1.02% expense ratio.
Dividends
IBGK vs. UGA - Dividend Comparison
IBGK's dividend yield for the trailing twelve months is around 4.84%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IBGK iShares iBonds Dec 2054 Term Treasury ETF | 4.84% | 4.59% | 3.15% |
UGA United States Gasoline Fund, LP | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBGK and UGA have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (12.68%) compared to IBGK (2.45%). In terms of maximum drawdown, IBGK dropped -14.62% vs UGA's -86.59%.
On 1-year performance, UGA leads with 78.20% vs -1.96% for IBGK. On fees, IBGK is cheaper at 0.07% per year. On volatility, IBGK has been the lower-risk option at 2.45%. 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 78.20% return vs -1.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBGK is cheaper with a 0.07% expense ratio, compared with 1.02% for UGA.
IBGK has the higher dividend yield at 4.84%, compared with 0.00% for UGA.
IBGK is categorized as Long-Term Bond, while UGA is Oil & Gas. IBGK tracks ICE 2054 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 IBGK and 1.02% for UGA.
UGA currently has the higher Sharpe Ratio (2.16 vs -0.22), 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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