IRVH vs. UGA
IRVH (Global X Interest Rate Volatility & Inflation Hedge ETF) and UGA (United States Gasoline Fund, LP) are both exchange-traded funds - IRVH is a Inflation-Protected Bonds fund actively managed by Global X, while UGA is a Oil & Gas fund tracking the Near-Month NYMEX RBOB Gasoline Futures Contract. IRVH is actively managed, while UGA is passively managed. Over the past 3 years, IRVH returned -0.42%/yr vs 16.66%/yr for UGA. Their -0.05 correlation means they have often moved in opposite directions in the past. IRVH charges 0.50%/yr vs 1.02%/yr for UGA.
Performance
IRVH vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, IRVH achieves a -4.64% return, which is significantly lower than UGA's 80.98% return.
IRVH
- 1D
- -0.06%
- 1M
- -0.73%
- 6M
- -4.05%
- YTD
- -4.64%
- 1Y
- -3.63%
- 3Y*
- -0.42%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -2.20%
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) |
|---|---|---|---|
| $459.76 | $1.90K | $4.28K | |
| $8.16M | $5.91M | $4.98M |
IRVH vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IRVH Global X Interest Rate Volatility & Inflation Hedge ETF | -4.64% | 7.71% | -5.49% | 0.83% | -6.69% |
UGA United States Gasoline Fund, LP | 80.98% | -2.00% | 3.77% | 1.27% | -6.24% |
Correlation
The correlation between IRVH and UGA is -0.11, 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. | -0.11 |
Correlation (3Y) Balances recent behavior with more history. | -0.09 |
Correlation (All Time) Calculated using the full available price history since Jul 6, 2022 | -0.05 |
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Return for Risk
IRVH vs. UGA — Risk / Return Rank
IRVH
UGA
IRVH vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Interest Rate Volatility & Inflation Hedge ETF (IRVH) 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.
| IRVH | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.95 | ||
| Sortino ratioReturn per unit of downside risk | -3.72 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.35 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 3.87 | -4.43 |
| Martin ratioReturn relative to average drawdown | -1.11 | 10.83 | -11.94 |
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Drawdowns
IRVH vs. UGA - Drawdown Comparison
The maximum IRVH drawdown since its inception was -14.98%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for IRVH and UGA.
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Drawdown Indicators
| IRVH | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.98% | -86.59% | +71.61% |
Max Drawdown (1Y)Largest decline over 1 year | -6.48% | -20.32% | +13.84% |
Max Drawdown (3Y)Largest decline over 3 years | -8.03% | -26.68% | +18.65% |
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 | -11.54% | -10.61% | -0.93% |
Average DrawdownAverage peak-to-trough decline | -9.76% | -36.53% | +26.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.28% | 7.25% | -3.97% |
Volatility
IRVH vs. UGA - Volatility Comparison
The current volatility for Global X Interest Rate Volatility & Inflation Hedge ETF (IRVH) is 0.82%, while United States Gasoline Fund, LP (UGA) has a volatility of 12.68%. This indicates that IRVH 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
| IRVH | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 12.68% | -11.86% |
Volatility (6M)Calculated over the trailing 6-month period | 3.18% | 32.51% | -29.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.63% | 36.42% | -31.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.69% | 34.68% | -25.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.69% | 37.30% | -28.61% |
IRVH vs. UGA - Expense Ratio Comparison
IRVH has a 0.50% expense ratio, which is lower than UGA's 1.02% expense ratio.
Dividends
IRVH vs. UGA - Dividend Comparison
IRVH's dividend yield for the trailing twelve months is around 5.72%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IRVH Global X Interest Rate Volatility & Inflation Hedge ETF | 5.72% | 4.89% | 3.34% | 3.69% | 2.73% |
UGA United States Gasoline Fund, LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IRVH and UGA have a correlation of -0.11, 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 IRVH (0.82%). In terms of maximum drawdown, IRVH dropped -14.98% vs UGA's -86.59%.
On 3-year performance, UGA leads with 16.66% vs -0.42% for IRVH. On fees, IRVH is cheaper at 0.50% per year. On volatility, IRVH has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UGA has performed better with a 16.66% return vs -0.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IRVH is cheaper with a 0.50% expense ratio, compared with 1.02% for UGA.
IRVH has the higher dividend yield at 5.72%, compared with 0.00% for UGA.
IRVH is categorized as Inflation-Protected Bonds, while UGA is Oil & Gas. They also come from different issuers: Global X and USCF. Their fees differ too: 0.50% for IRVH and 1.02% for UGA.
UGA currently has the higher Sharpe Ratio (2.16 vs -0.79), 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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