IVRS vs. UGA
IVRS (iShares Future Metaverse Tech And Communications ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - IVRS is a Technology Equities fund tracking the Morningstar Global Metaverse & Virtual Interaction Select Index - Benchmark TR Net, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 3 years, IVRS returned 7.89%/yr vs 18.95%/yr for UGA. At a correlation of -0.01, they often move in opposite directions. IVRS charges 0.47%/yr vs 0.75%/yr for UGA.
Performance
IVRS vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, IVRS achieves a -9.21% return, which is significantly lower than UGA's 64.09% return.
IVRS
- 1D
- -1.89%
- 1M
- -4.92%
- YTD
- -9.21%
- 6M
- -10.90%
- 1Y
- -6.88%
- 3Y*
- 7.89%
- 5Y*
- —
- 10Y*
- —
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%
IVRS vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IVRS iShares Future Metaverse Tech And Communications ETF | -9.21% | 12.75% | 7.40% | 28.15% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.40% |
Correlation
The correlation between IVRS and UGA is -0.18, 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 | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2023 | -0.01 |
The correlation between IVRS and UGA shifts across timeframes, from -0.18 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IVRS vs. UGA — Risk / Return Rank
IVRS
UGA
IVRS vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Future Metaverse Tech And Communications ETF (IVRS) 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.
| IVRS | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.03 | ||
| Sortino ratioReturn per unit of downside risk | -2.52 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.30 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.22 | 3.17 | -3.39 |
| Martin ratioReturn relative to average drawdown | -0.45 | 9.39 | -9.84 |
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Drawdowns
IVRS vs. UGA - Drawdown Comparison
The maximum IVRS drawdown since its inception was -31.43%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for IVRS and UGA.
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Drawdown Indicators
| IVRS | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.43% | -86.59% | +55.16% |
Max Drawdown (1Y)Largest decline over 1 year | -31.43% | -18.96% | -12.47% |
Max Drawdown (3Y)Largest decline over 3 years | -31.43% | -26.68% | -4.75% |
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 | -21.89% | -18.05% | -3.84% |
Average DrawdownAverage peak-to-trough decline | -6.03% | -36.69% | +30.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.29% | 6.43% | +8.86% |
Volatility
IVRS vs. UGA - Volatility Comparison
The current volatility for iShares Future Metaverse Tech And Communications ETF (IVRS) is 8.09%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that IVRS 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
| IVRS | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.09% | 9.24% | -1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 19.82% | 30.57% | -10.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.78% | 35.22% | -12.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.71% | 34.45% | -13.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.71% | 37.22% | -16.51% |
IVRS vs. UGA - Expense Ratio Comparison
IVRS has a 0.47% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
IVRS vs. UGA - Dividend Comparison
IVRS's dividend yield for the trailing twelve months is around 8.82%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IVRS iShares Future Metaverse Tech And Communications ETF | 8.82% | 7.88% | 6.65% | 0.48% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IVRS and UGA have a correlation of -0.18, 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 IVRS (8.09%). In terms of maximum drawdown, IVRS dropped -31.43% vs UGA's -86.59%.
On 3-year performance, UGA leads with 18.95% vs 7.89% for IVRS. On fees, IVRS is cheaper at 0.47% per year. On volatility, IVRS has been the lower-risk option at 8.09%. 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 18.95% return vs 7.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVRS is cheaper with a 0.47% expense ratio, compared with 0.75% for UGA.
IVRS has the higher dividend yield at 8.82%, compared with 0.00% for UGA.
IVRS is categorized as Technology Equities, while UGA is Oil & Gas. IVRS tracks Morningstar Global Metaverse & Virtual Interaction Select Index - Benchmark TR Net, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.47% for IVRS and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs -0.30), 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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