IGPT vs. UGA
IGPT (Invesco AI and Next Gen Software ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - IGPT is a Technology Equities fund tracking the STOXX World AC NexGen Software Development Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, IGPT returned 22.51%/yr vs 14.31%/yr for UGA. At a 0.19 correlation, their price movements are largely independent. IGPT charges 0.56%/yr vs 0.75%/yr for UGA.
Performance
IGPT vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, IGPT achieves a 68.99% return, which is significantly higher than UGA's 64.09% return. Over the past 10 years, IGPT has outperformed UGA with an annualized return of 22.51%, while UGA has yielded a comparatively lower 14.31% annualized return.
IGPT
- 1D
- -7.04%
- 1M
- 9.45%
- YTD
- 68.99%
- 6M
- 69.36%
- 1Y
- 115.70%
- 3Y*
- 42.39%
- 5Y*
- 14.53%
- 10Y*
- 22.51%
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%
IGPT vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGPT Invesco AI and Next Gen Software ETF | 68.99% | 31.55% | 17.15% | 27.29% | -27.73% | -11.79% | 54.31% | 35.06% | 16.38% | 34.60% |
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 IGPT and UGA is -0.15, 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 | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2008 | 0.19 |
The correlation between IGPT and UGA shifts across timeframes, from -0.15 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IGPT vs. UGA — Risk / Return Rank
IGPT
UGA
IGPT vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco AI and Next Gen Software ETF (IGPT) 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.
| IGPT | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.78 | ||
| Sortino ratioReturn per unit of downside risk | +1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.30 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 6.98 | 3.17 | +3.81 |
| Martin ratioReturn relative to average drawdown | 25.88 | 9.39 | +16.49 |
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Drawdowns
IGPT vs. UGA - Drawdown Comparison
The maximum IGPT drawdown since its inception was -50.14%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for IGPT and UGA.
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Drawdown Indicators
| IGPT | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.14% | -86.59% | +36.45% |
Max Drawdown (1Y)Largest decline over 1 year | -16.68% | -18.96% | +2.28% |
Max Drawdown (3Y)Largest decline over 3 years | -29.30% | -26.68% | -2.62% |
Max Drawdown (5Y)Largest decline over 5 years | -44.87% | -38.11% | -6.76% |
Max Drawdown (10Y)Largest decline over 10 years | -50.14% | -75.89% | +25.75% |
Current DrawdownCurrent decline from peak | -7.04% | -18.05% | +11.01% |
Average DrawdownAverage peak-to-trough decline | -11.94% | -36.69% | +24.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.49% | 6.43% | -1.94% |
Volatility
IGPT vs. UGA - Volatility Comparison
Invesco AI and Next Gen Software ETF (IGPT) has a higher volatility of 19.26% compared to United States Gasoline Fund LP (UGA) at 9.24%. This indicates that IGPT's price experiences larger fluctuations and is considered to be riskier 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
| IGPT | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.26% | 9.24% | +10.02% |
Volatility (6M)Calculated over the trailing 6-month period | 28.98% | 30.57% | -1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.13% | 35.22% | -2.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.71% | 34.45% | -5.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.86% | 37.22% | -10.36% |
IGPT vs. UGA - Expense Ratio Comparison
IGPT has a 0.56% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
IGPT vs. UGA - Dividend Comparison
IGPT's dividend yield for the trailing twelve months is around 0.01%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGPT Invesco AI and Next Gen Software ETF | 0.01% | 0.04% | 0.00% | 0.00% | 1.41% | 6.21% | 0.04% | 0.05% | 0.00% | 0.00% | 0.03% | 0.15% |
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
IGPT and UGA have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGPT has higher volatility (19.26%) compared to UGA (9.24%). In terms of maximum drawdown, IGPT dropped -50.14% vs UGA's -86.59%.
On 10-year performance, IGPT leads with 22.51% vs 14.31% for UGA. On fees, IGPT is cheaper at 0.56% per year. On volatility, UGA has been the lower-risk option at 9.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IGPT has performed better with a 22.51% return vs 14.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGPT is cheaper with a 0.56% expense ratio, compared with 0.75% for UGA.
IGPT has the higher dividend yield at 0.01%, compared with 0.00% for UGA.
IGPT is categorized as Technology Equities, while UGA is Oil & Gas. IGPT tracks STOXX World AC NexGen Software Development Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Invesco and Concierge Technologies. Their fees differ too: 0.56% for IGPT and 0.75% for UGA.
IGPT currently has the higher Sharpe Ratio (3.51 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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