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ITB vs. UGA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ITB vs. UGA

Last updated Jun 5, 2026

ITB (iShares U.S. Home Construction ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - ITB is a Building & Construction fund tracking the Dow Jones U.S. Select Home Construction Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, ITB returned 13.75%/yr vs 14.27%/yr for UGA. At a 0.15 correlation, their price movements are largely independent. ITB charges 0.42%/yr vs 0.75%/yr for UGA.

Performance

ITB vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Home Construction ETF (ITB) 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, ITB achieves a -2.85% return, which is significantly lower than UGA's 70.69% return. Both investments have delivered pretty close results over the past 10 years, with ITB having a 13.75% annualized return and UGA not far ahead at 14.27%.

ITB

1D
1.00%
1M
0.61%
YTD
-2.85%
6M
-9.31%
1Y
2.93%
3Y*
7.85%
5Y*
6.63%
10Y*
13.75%

UGA

1D
-2.73%
1M
-12.25%
YTD
70.69%
6M
59.72%
1Y
79.48%
3Y*
20.80%
5Y*
24.41%
10Y*
14.27%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ITB vs. UGA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ITB
iShares U.S. Home Construction ETF		-2.85%-5.26%2.06%68.91%-26.26%49.25%26.42%48.70%-30.92%59.65%
UGA
United States Gasoline Fund LP		70.69%-2.00%3.77%1.27%46.34%68.49%-24.88%41.25%-28.07%1.69%

Correlation

The correlation between ITB and UGA is -0.31, 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

-0.31

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

-0.10

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

0.00

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

0.07

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

0.15

The correlation between ITB and UGA shifts across timeframes, from -0.31 (1 year) to 0.15 (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. Home Construction ETF

United States Gasoline Fund LP

Often compared with ITB:
ITB vs. XHBITB vs. NAILITB vs. PKBITB vs. SPYITB vs. XLREITB vs. FSHOXITB vs. VGT
Often compared with UGA:
UGA vs. URAUGA vs. FCGUGA vs. QQQUGA vs. VOOUGA vs. USOUGA vs. SPYUGA vs. FNGS

Return for Risk

ITB vs. UGA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ITB
ITB Risk / Return Rank: 1111
Overall Rank
ITB Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
ITB Sortino Ratio Rank: 1212
Sortino Ratio Rank
ITB Omega Ratio Rank: 1111
Omega Ratio Rank
ITB Calmar Ratio Rank: 1010
Calmar Ratio Rank
ITB Martin Ratio Rank: 1010
Martin Ratio Rank
UGA
UGA Risk / Return Rank: 7070
Overall Rank
UGA Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
UGA Sortino Ratio Rank: 5858
Sortino Ratio Rank
UGA Omega Ratio Rank: 6262
Omega Ratio Rank
UGA Calmar Ratio Rank: 8989
Calmar Ratio Rank
UGA Martin Ratio Rank: 7070
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.

ITB vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Home Construction ETF (ITB) 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.

ITBUGADifference
Sharpe ratioReturn per unit of total volatility
0.10
2.27

-2.17

Sortino ratioReturn per unit of downside risk
0.39
2.71

-2.32

Omega ratioGain probability vs. loss probability

1.04

1.37

-0.33

Calmar ratioReturn relative to maximum drawdown

0.11

5.37

-5.26

Martin ratioReturn relative to average drawdown

0.22

12.86

-12.64

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

ITB vs. UGA - Sharpe Ratio Comparison

The current ITB Sharpe Ratio is 0.10, which is lower than the UGA Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of ITB 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

ITBUGADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.10

2.27

-2.17

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.23

0.71

-0.48

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.46

0.38

+0.08

Sharpe Ratio (All Time)

Calculated using the full available price history

0.11

0.12

-0.01

Drawdowns

ITB vs. UGA - Drawdown Comparison

The maximum ITB drawdown since its inception was -86.53%, roughly equal to the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for ITB and UGA.

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Drawdown Indicators

ITBUGADifference

Max Drawdown

Largest peak-to-trough decline

-86.53%

-86.59%

+0.06%

Max Drawdown (1Y)

Largest decline over 1 year

-26.04%

-14.88%

-11.16%

Max Drawdown (3Y)

Largest decline over 3 years

-33.35%

-26.68%

-6.67%

Max Drawdown (5Y)

Largest decline over 5 years

-40.55%

-38.11%

-2.44%

Max Drawdown (10Y)

Largest decline over 10 years

-52.10%

-75.89%

+23.79%

Current Drawdown

Current decline from peak

-26.35%

-14.75%

-11.60%

Average Drawdown

Average peak-to-trough decline

-37.10%

-36.76%

-0.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.15%

6.20%

+6.95%

Volatility

ITB vs. UGA - Volatility Comparison

The current volatility for iShares U.S. Home Construction ETF (ITB) is 8.06%, while United States Gasoline Fund LP (UGA) has a volatility of 11.64%. This indicates that ITB 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

ITBUGADifference

Volatility (1M)

Calculated over the trailing 1-month period

8.06%

11.64%

-3.58%

Volatility (6M)

Calculated over the trailing 6-month period

20.45%

30.48%

-10.03%

Volatility (1Y)

Calculated over the trailing 1-year period

29.44%

35.27%

-5.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.19%

34.40%

-5.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.99%

37.27%

-7.28%

ITB vs. UGA - Expense Ratio Comparison

ITB has a 0.42% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

ITB vs. UGA - Dividend Comparison

ITB's dividend yield for the trailing twelve months is around 1.22%, while UGA has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
ITB
iShares U.S. Home Construction ETF		1.22%1.67%0.46%0.48%0.86%0.37%0.46%0.50%0.63%0.28%0.43%0.34%
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

ITB and UGA have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

UGA has higher volatility (11.64%) compared to ITB (8.06%). In terms of maximum drawdown, ITB dropped -86.53% vs UGA's -86.59%.

On 10-year performance, UGA leads with 14.27% vs 13.75% for ITB. On fees, ITB is cheaper at 0.42% per year. On volatility, ITB has been the lower-risk option at 8.06%. 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 14.27% return vs 13.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ITB is cheaper with a 0.42% expense ratio, compared with 0.75% for UGA.

ITB has the higher dividend yield at 1.22%, compared with 0.00% for UGA.

ITB is categorized as Building & Construction, while UGA is Oil & Gas. ITB tracks Dow Jones U.S. Select Home Construction Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.42% for ITB and 0.75% for UGA.

UGA currently has the higher Sharpe Ratio (2.27 vs 0.10), 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.

Portfolio Optimizer

Find the right allocation for ITB and UGA

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