ISCF vs. UGA
ISCF (iShares MSCI Intl Small-Cap Multifactor ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - ISCF is a Foreign Small & Mid Cap Equities fund tracking the MSCI World exUSA SmallCap Diversified Multi-Factor, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, ISCF returned 9.03%/yr vs 14.31%/yr for UGA. At a 0.19 correlation, their price movements are largely independent. ISCF charges 0.40%/yr vs 0.75%/yr for UGA.
Performance
ISCF vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, ISCF achieves a 5.83% return, which is significantly lower than UGA's 64.09% return. Over the past 10 years, ISCF has underperformed UGA with an annualized return of 9.03%, while UGA has yielded a comparatively higher 14.31% annualized return.
ISCF
- 1D
- -1.85%
- 1M
- -1.86%
- YTD
- 5.83%
- 6M
- 5.68%
- 1Y
- 19.39%
- 3Y*
- 17.33%
- 5Y*
- 7.27%
- 10Y*
- 9.03%
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%
ISCF vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISCF iShares MSCI Intl Small-Cap Multifactor ETF | 5.83% | 33.65% | 4.75% | 11.50% | -15.07% | 13.31% | 7.65% | 26.32% | -18.76% | 38.13% |
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 ISCF and UGA is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since May 1, 2015 | 0.19 |
The correlation between ISCF and UGA shifts across timeframes, from -0.28 (1 year) to 0.19 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
ISCF vs. UGA — Risk / Return Rank
ISCF
UGA
ISCF vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Intl Small-Cap Multifactor ETF (ISCF) 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.
| ISCF | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 3.17 | -1.45 |
| Martin ratioReturn relative to average drawdown | 6.27 | 9.39 | -3.12 |
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Drawdowns
ISCF vs. UGA - Drawdown Comparison
The maximum ISCF drawdown since its inception was -40.79%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for ISCF and UGA.
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Drawdown Indicators
| ISCF | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.79% | -86.59% | +45.80% |
Max Drawdown (1Y)Largest decline over 1 year | -11.34% | -18.96% | +7.62% |
Max Drawdown (3Y)Largest decline over 3 years | -13.85% | -26.68% | +12.83% |
Max Drawdown (5Y)Largest decline over 5 years | -30.70% | -38.11% | +7.41% |
Max Drawdown (10Y)Largest decline over 10 years | -40.79% | -75.89% | +35.10% |
Current DrawdownCurrent decline from peak | -3.95% | -18.05% | +14.10% |
Average DrawdownAverage peak-to-trough decline | -8.12% | -36.69% | +28.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.10% | 6.43% | -3.33% |
Volatility
ISCF vs. UGA - Volatility Comparison
The current volatility for iShares MSCI Intl Small-Cap Multifactor ETF (ISCF) is 4.96%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that ISCF 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
| ISCF | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.96% | 9.24% | -4.28% |
Volatility (6M)Calculated over the trailing 6-month period | 12.56% | 30.57% | -18.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.90% | 35.22% | -20.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.74% | 34.45% | -17.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.43% | 37.22% | -19.79% |
ISCF vs. UGA - Expense Ratio Comparison
ISCF has a 0.40% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
ISCF vs. UGA - Dividend Comparison
ISCF's dividend yield for the trailing twelve months is around 3.74%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISCF iShares MSCI Intl Small-Cap Multifactor ETF | 3.74% | 3.76% | 4.29% | 3.94% | 2.73% | 3.93% | 2.30% | 2.87% | 2.14% | 1.97% | 2.89% | 1.46% |
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
ISCF and UGA have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (9.24%) compared to ISCF (4.96%). In terms of maximum drawdown, ISCF dropped -40.79% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.31% vs 9.03% for ISCF. On fees, ISCF is cheaper at 0.40% per year. On volatility, ISCF has been the lower-risk option at 4.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UGA has performed better with a 14.31% return vs 9.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISCF is cheaper with a 0.40% expense ratio, compared with 0.75% for UGA.
ISCF has the higher dividend yield at 3.74%, compared with 0.00% for UGA.
ISCF is categorized as Foreign Small & Mid Cap Equities, while UGA is Oil & Gas. ISCF tracks MSCI World exUSA SmallCap Diversified Multi-Factor, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.40% for ISCF and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs 1.31), 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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