IBIH vs. UGA
IBIH (iShares iBonds Oct 2031 Term TIPS ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - IBIH is a Inflation-Protected Bonds fund tracking the ICE 2031 Maturity US Inflation-Linked Treasury Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past year, IBIH returned 5.04% vs 79.48% for UGA. At a correlation of -0.08, they often move in opposite directions. IBIH charges 0.10%/yr vs 0.75%/yr for UGA.
Performance
IBIH vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, IBIH achieves a 1.60% return, which is significantly lower than UGA's 70.69% return.
IBIH
- 1D
- -0.08%
- 1M
- -0.34%
- YTD
- 1.60%
- 6M
- 1.34%
- 1Y
- 5.04%
- 3Y*
- —
- 5Y*
- —
- 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%
IBIH vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBIH iShares iBonds Oct 2031 Term TIPS ETF | 1.60% | 8.47% | 1.73% | 4.60% |
UGA United States Gasoline Fund LP | 70.69% | -2.00% | 3.77% | -15.89% |
Correlation
The correlation between IBIH and UGA is -0.13, 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 | -0.13 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023 | -0.08 |
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Return for Risk
IBIH vs. UGA — Risk / Return Rank
IBIH
UGA
IBIH vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2031 Term TIPS ETF (IBIH) 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.
| IBIH | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.37 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 5.37 | -2.39 |
| Martin ratioReturn relative to average drawdown | 10.16 | 12.86 | -2.70 |
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
| IBIH | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 2.27 | -0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.71 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.24 | 0.12 | +1.13 |
Drawdowns
IBIH vs. UGA - Drawdown Comparison
The maximum IBIH drawdown since its inception was -3.94%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for IBIH and UGA.
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Drawdown Indicators
| IBIH | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.94% | -86.59% | +82.65% |
Max Drawdown (1Y)Largest decline over 1 year | -1.70% | -14.88% | +13.18% |
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 | -0.62% | -14.75% | +14.13% |
Average DrawdownAverage peak-to-trough decline | -0.96% | -36.76% | +35.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 6.20% | -5.69% |
Volatility
IBIH vs. UGA - Volatility Comparison
The current volatility for iShares iBonds Oct 2031 Term TIPS ETF (IBIH) is 0.83%, while United States Gasoline Fund LP (UGA) has a volatility of 11.64%. This indicates that IBIH 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
| IBIH | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 11.64% | -10.81% |
Volatility (6M)Calculated over the trailing 6-month period | 2.09% | 30.48% | -28.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.15% | 35.27% | -32.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.93% | 34.40% | -29.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.93% | 37.27% | -32.34% |
IBIH vs. UGA - Expense Ratio Comparison
IBIH has a 0.10% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
IBIH vs. UGA - Dividend Comparison
IBIH's dividend yield for the trailing twelve months is around 3.90%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IBIH iShares iBonds Oct 2031 Term TIPS ETF | 3.90% | 4.68% | 4.34% | 0.70% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBIH and UGA have a correlation of -0.13, 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 IBIH (0.83%). In terms of maximum drawdown, IBIH dropped -3.94% vs UGA's -86.59%.
On 1-year performance, UGA leads with 79.48% vs 5.04% for IBIH. On fees, IBIH is cheaper at 0.10% per year. On volatility, IBIH has been the lower-risk option at 0.83%. 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 79.48% return vs 5.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIH is cheaper with a 0.10% expense ratio, compared with 0.75% for UGA.
IBIH has the higher dividend yield at 3.90%, compared with 0.00% for UGA.
IBIH is categorized as Inflation-Protected Bonds, while UGA is Oil & Gas. IBIH tracks ICE 2031 Maturity US Inflation-Linked Treasury Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.10% for IBIH and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.27 vs 1.62), 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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