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ITA vs. UGA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ITA vs. UGA

Last updated Jun 4, 2026

ITA (iShares U.S. Aerospace & Defense ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - ITA is a Aerospace & Defense fund tracking the Dow Jones U.S. Select Aerospace & Defense Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, ITA returned 14.82%/yr vs 14.43%/yr for UGA. At a 0.23 correlation, their price movements are largely independent. ITA charges 0.38%/yr vs 0.75%/yr for UGA.

Performance

ITA vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Aerospace & Defense ETF (ITA) and United States Gasoline Fund LP (UGA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ITA achieves a 4.82% return, which is significantly lower than UGA's 75.49% return. Both investments have delivered pretty close results over the past 10 years, with ITA having a 14.82% annualized return and UGA not far behind at 14.43%.

ITA

1D
-1.51%
1M
4.93%
YTD
4.82%
6M
11.61%
1Y
26.06%
3Y*
26.89%
5Y*
15.93%
10Y*
14.82%

UGA

1D
-0.19%
1M
-12.35%
YTD
75.49%
6M
64.35%
1Y
80.94%
3Y*
22.21%
5Y*
25.10%
10Y*
14.43%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ITA vs. UGA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ITA
iShares U.S. Aerospace & Defense ETF		4.82%48.64%15.81%14.33%9.96%9.39%-13.57%30.51%-7.22%35.24%
UGA
United States Gasoline Fund LP		75.49%-2.00%3.77%1.27%46.34%68.49%-24.88%41.25%-28.07%1.69%

Correlation

The correlation between ITA and UGA is -0.11, 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

-0.11

Correlation (3Y)
Calculated over the trailing 3-year period

0.02

Correlation (5Y)
Calculated over the trailing 5-year period

0.11

Correlation (10Y)
Calculated over the trailing 10-year period

0.17

Correlation (All Time)
Calculated using the full available price history since Feb 29, 2008

0.23

The correlation between ITA and UGA shifts across timeframes, from -0.11 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares U.S. Aerospace & Defense ETF

United States Gasoline Fund LP

Often compared with ITA:
ITA vs. XARITA vs. PPAITA vs. SHLDITA vs. VOOITA vs. ARKXITA vs. FSDAXITA vs. DFEN
Often compared with UGA:
UGA vs. URAUGA vs. FCGUGA vs. QQQUGA vs. VOOUGA vs. USOUGA vs. SPYUGA vs. FNGS

Return for Risk

ITA vs. UGA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ITA
ITA Risk / Return Rank: 3232
Overall Rank
ITA Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
ITA Sortino Ratio Rank: 3434
Sortino Ratio Rank
ITA Omega Ratio Rank: 3232
Omega Ratio Rank
ITA Calmar Ratio Rank: 3333
Calmar Ratio Rank
ITA Martin Ratio Rank: 3030
Martin Ratio Rank
UGA
UGA Risk / Return Rank: 6969
Overall Rank
UGA Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
UGA Sortino Ratio Rank: 5757
Sortino Ratio Rank
UGA Omega Ratio Rank: 6060
Omega Ratio Rank
UGA Calmar Ratio Rank: 8989
Calmar Ratio Rank
UGA Martin Ratio Rank: 7171
Martin Ratio Rank
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.

ITA vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Aerospace & Defense ETF (ITA) 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.

ITAUGADifference
Sharpe ratioReturn per unit of total volatility
1.26
2.32

-1.06

Sortino ratioReturn per unit of downside risk
1.84
2.75

-0.91

Omega ratioGain probability vs. loss probability

1.22

1.37

-0.16

Calmar ratioReturn relative to maximum drawdown

1.65

5.47

-3.81

Martin ratioReturn relative to average drawdown

4.49

13.25

-8.76

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITA vs. UGA - Sharpe Ratio Comparison

The current ITA Sharpe Ratio is 1.26, which is lower than the UGA Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of ITA 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.

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Sharpe Ratios by Period

ITAUGADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.26

2.32

-1.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.80

0.73

+0.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

0.39

+0.25

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

0.12

+0.39

Drawdowns

ITA vs. UGA - Drawdown Comparison

The maximum ITA drawdown since its inception was -59.72%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for ITA and UGA.

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Drawdown Indicators

ITAUGADifference

Max Drawdown

Largest peak-to-trough decline

-59.72%

-86.59%

+26.87%

Max Drawdown (1Y)

Largest decline over 1 year

-15.82%

-14.88%

-0.94%

Max Drawdown (3Y)

Largest decline over 3 years

-15.82%

-26.68%

+10.86%

Max Drawdown (5Y)

Largest decline over 5 years

-18.72%

-38.11%

+19.39%

Max Drawdown (10Y)

Largest decline over 10 years

-51.00%

-75.89%

+24.89%

Current Drawdown

Current decline from peak

-10.19%

-12.35%

+2.16%

Average Drawdown

Average peak-to-trough decline

-9.46%

-36.76%

+27.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.82%

6.13%

-0.31%

Volatility

ITA vs. UGA - Volatility Comparison

The current volatility for iShares U.S. Aerospace & Defense ETF (ITA) is 7.28%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that ITA 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

ITAUGADifference

Volatility (1M)

Calculated over the trailing 1-month period

7.28%

11.66%

-4.38%

Volatility (6M)

Calculated over the trailing 6-month period

17.47%

30.41%

-12.94%

Volatility (1Y)

Calculated over the trailing 1-year period

20.86%

35.14%

-14.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.02%

34.38%

-14.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.14%

37.27%

-14.13%

ITA vs. UGA - Expense Ratio Comparison

ITA has a 0.38% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

ITA vs. UGA - Dividend Comparison

ITA's dividend yield for the trailing twelve months is around 0.48%, while UGA has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
ITA
iShares U.S. Aerospace & Defense ETF		0.48%0.55%0.85%0.93%0.95%0.82%1.07%1.54%1.13%0.91%1.07%1.04%
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

ITA 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 (11.66%) compared to ITA (7.28%). In terms of maximum drawdown, ITA dropped -59.72% vs UGA's -86.59%.

On 10-year performance, ITA leads with 14.82% vs 14.43% for UGA. On fees, ITA is cheaper at 0.38% per year. On volatility, ITA has been the lower-risk option at 7.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ITA has performed better with a 14.82% return vs 14.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ITA is cheaper with a 0.38% expense ratio, compared with 0.75% for UGA.

ITA has the higher dividend yield at 0.48%, compared with 0.00% for UGA.

ITA is categorized as Aerospace & Defense, while UGA is Oil & Gas. ITA tracks Dow Jones U.S. Select Aerospace & Defense Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.38% for ITA and 0.75% for UGA.

UGA currently has the higher Sharpe Ratio (2.32 vs 1.26), 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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