ITB vs. UGA
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 13.57%/yr vs 15.78%/yr for UGA. At a 0.14 correlation, their price movements are largely independent. ITB charges 0.38%/yr vs 0.75%/yr for UGA.
Performance
ITB vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, ITB achieves a 1.88% return, which is significantly lower than UGA's 71.80% return. Over the past 10 years, ITB has underperformed UGA with an annualized return of 13.57%, while UGA has yielded a comparatively higher 15.78% annualized return.
ITB
- 1D
- 0.90%
- 1M
- 1.00%
- 6M
- -8.30%
- YTD
- 1.88%
- 1Y
- -0.37%
- 3Y*
- 5.78%
- 5Y*
- 8.26%
- 10Y*
- 13.57%
UGA
- 1D
- -1.13%
- 1M
- 0.87%
- 6M
- 65.75%
- YTD
- 71.80%
- 1Y
- 66.14%
- 3Y*
- 17.96%
- 5Y*
- 23.72%
- 10Y*
- 15.78%
ITB vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITB iShares U.S. Home Construction ETF | 1.88% | -5.26% | 2.06% | 68.91% | -26.26% | 49.25% | 26.42% | 48.70% | -30.92% | 59.65% |
UGA United States Gasoline Fund LP | 71.80% | -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 -0.32, 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 | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2008 | 0.14 |
The correlation between ITB and UGA shifts across timeframes, from -0.32 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ITB vs. UGA — Risk / Return Rank
ITB
UGA
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.
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.
| ITB | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.35 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.32 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 3.41 | -3.48 |
| Martin ratioReturn relative to average drawdown | -0.13 | 9.53 | -9.67 |
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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
| ITB | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.53% | -86.59% | +0.06% |
Max Drawdown (1Y)Largest decline over 1 year | -26.04% | -20.32% | -5.72% |
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 DrawdownCurrent decline from peak | -22.77% | -14.20% | -8.57% |
Average DrawdownAverage peak-to-trough decline | -37.02% | -36.64% | -0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.97% | 7.26% | +6.71% |
Volatility
ITB vs. UGA - Volatility Comparison
iShares U.S. Home Construction ETF (ITB) has a higher volatility of 11.13% compared to United States Gasoline Fund LP (UGA) at 10.45%. This indicates that ITB'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.
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Volatility by Period
| ITB | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.13% | 10.45% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 22.59% | 31.50% | -8.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.21% | 35.39% | -5.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.51% | 34.57% | -5.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.13% | 37.20% | -7.07% |
ITB vs. UGA - Expense Ratio Comparison
ITB has a 0.38% 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 0.66%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITB iShares U.S. Home Construction ETF | 0.66% | 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 -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ITB has higher volatility (11.13%) compared to UGA (10.45%). In terms of maximum drawdown, ITB dropped -86.53% vs UGA's -86.59%.
On 10-year performance, UGA leads with 15.78% vs 13.57% for ITB. On fees, ITB is cheaper at 0.38% per year. On volatility, UGA has been the lower-risk option at 10.45%. 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 15.78% return vs 13.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ITB is cheaper with a 0.38% expense ratio, compared with 0.75% for UGA.
ITB has the higher dividend yield at 0.66%, 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: 0.38% for ITB and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.96 vs -0.06), 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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