ILDR vs. UGA

Last updated Jun 24, 2026

ILDR (First Trust Innovation Leaders ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - ILDR is a Technology Equities fund actively managed by First Trust, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. ILDR is actively managed, while UGA is passively managed. Over the past 5 years, ILDR returned 11.51%/yr vs 22.69%/yr for UGA. At a 0.05 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.

Performance

ILDR vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Innovation Leaders ETF (ILDR) and United States Gasoline Fund LP (UGA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ILDR achieves a 14.03% return, which is significantly lower than UGA's 64.09% return.

ILDR

• 1D: -2.72%
• 1M: -0.24%
• YTD: 14.03%
• 6M: 12.50%
• 1Y: 34.64%
• 3Y*: 28.32%
• 5Y*: 11.51%
• 10Y*: —

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ILDR vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ILDR First Trust Innovation Leaders ETF	14.03%	29.22%	29.31%	39.34%	-34.95%	7.57%
UGA United States Gasoline Fund LP	64.09%	-2.00%	3.77%	1.27%	46.34%	20.54%

Correlation

The correlation between ILDR and UGA is -0.16, 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	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.05

The correlation between ILDR and UGA shifts across timeframes, from -0.16 (1 year) to 0.05 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ILDR vs. UGA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ILDR

ILDR Risk / Return Rank: 43
ILDR Sharpe Ratio Rank: 46
ILDR Sortino Ratio Rank: 43
ILDR Omega Ratio Rank: 42
ILDR Calmar Ratio Rank: 42
ILDR Martin Ratio Rank: 42

UGA

UGA Risk / Return Rank: 55
UGA Sharpe Ratio Rank: 53
UGA Sortino Ratio Rank: 48
UGA Omega Ratio Rank: 49
UGA Calmar Ratio Rank: 67
UGA Martin Ratio Rank: 56

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ILDR vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Innovation Leaders ETF (ILDR) 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.

	ILDR	UGA	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.73	-0.23
Sortino ratio: Return per unit of downside risk	2.03	2.25	-0.22
Omega ratio: Gain probability vs. loss probability	1.26	1.30	-0.04
Calmar ratio: Return relative to maximum drawdown	1.97	3.17	-1.20
Martin ratio: Return relative to average drawdown	6.37	9.39	-3.03

ILDR vs. UGA - Sharpe Ratio Comparison

The current ILDR Sharpe Ratio is 1.50, which is comparable to the UGA Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of ILDR and UGA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ILDR vs. UGA - Drawdown Comparison

The maximum ILDR drawdown since its inception was -44.61%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for ILDR and UGA.

Drawdown Indicators

	ILDR	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-44.61%	-86.59%	+41.98%
Max Drawdown (1Y) Largest decline over 1 year	-17.70%	-18.96%	+1.26%
Max Drawdown (3Y) Largest decline over 3 years	-26.43%	-26.68%	+0.25%
Max Drawdown (5Y) Largest decline over 5 years	-44.61%	-38.11%	-6.50%
Max Drawdown (10Y) Largest decline over 10 years	—	-75.89%	—
Current Drawdown Current decline from peak	-7.20%	-18.05%	+10.85%
Average Drawdown Average peak-to-trough decline	-14.87%	-36.69%	+21.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.46%	6.43%	-0.97%

Volatility

ILDR vs. UGA - Volatility Comparison

First Trust Innovation Leaders ETF (ILDR) has a higher volatility of 10.87% compared to United States Gasoline Fund LP (UGA) at 9.24%. This indicates that ILDR'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.

Volatility by Period

	ILDR	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.87%	9.24%	+1.63%
Volatility (6M) Calculated over the trailing 6-month period	18.42%	30.57%	-12.15%
Volatility (1Y) Calculated over the trailing 1-year period	23.16%	35.22%	-12.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.41%	34.45%	-8.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.24%	37.22%	-10.98%

ILDR vs. UGA - Expense Ratio Comparison

Both ILDR and UGA have an expense ratio of 0.75%.

Dividends

ILDR vs. UGA - Dividend Comparison

Neither ILDR nor UGA has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
ILDR First Trust Innovation Leaders ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.16%
UGA United States Gasoline Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ILDR and UGA in my portfolio?

ILDR and UGA have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ILDR or UGA?

ILDR has higher volatility (10.87%) compared to UGA (9.24%). In terms of maximum drawdown, ILDR dropped -44.61% vs UGA's -86.59%.

Which ETF is better, ILDR or UGA?

On 5-year performance, UGA leads with 22.69% vs 11.51% for ILDR. Both ETFs have the same 0.75% expense ratio. 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.

Which ETF has performed better, ILDR or UGA?

Over the 5-year period, UGA has performed better with a 22.69% return vs 11.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ILDR or UGA?

ILDR and UGA have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, ILDR or UGA?

ILDR and UGA have nearly identical dividend yields, around 0.00%.

What is the main difference between ILDR and UGA?

ILDR is categorized as Technology Equities, while UGA is Oil & Gas. They also come from different issuers: First Trust and Concierge Technologies.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (1.73 vs 1.50), 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.