JIRE vs. UGA
JIRE (JPMorgan International Research Enhanced Equity ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - JIRE is a Foreign Large Cap Equities fund actively managed by JPMorgan, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. JIRE is actively managed, while UGA is passively managed. Over the past 3 years, JIRE returned 16.50%/yr vs 18.95%/yr for UGA. At a 0.03 correlation, their price movements are largely independent. JIRE charges 0.24%/yr vs 0.75%/yr for UGA.
Performance
JIRE vs. UGA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, JIRE achieves a 8.39% return, which is significantly lower than UGA's 64.09% return.
JIRE
- 1D
- -1.96%
- 1M
- 0.55%
- YTD
- 8.39%
- 6M
- 7.95%
- 1Y
- 21.48%
- 3Y*
- 16.50%
- 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%
JIRE vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JIRE JPMorgan International Research Enhanced Equity ETF | 8.39% | 31.83% | 3.15% | 20.00% | 5.09% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | -22.64% |
Correlation
The correlation between JIRE 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 | -0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2022 | 0.03 |
The correlation between JIRE and UGA shifts across timeframes, from -0.31 (1 year) to 0.03 (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.
Return for Risk
JIRE vs. UGA — Risk / Return Rank
JIRE
UGA
JIRE vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan International Research Enhanced Equity ETF (JIRE) 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.
| JIRE | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 3.17 | -1.33 |
| Martin ratioReturn relative to average drawdown | 6.61 | 9.39 | -2.78 |
Loading charts...
Drawdowns
JIRE vs. UGA - Drawdown Comparison
The maximum JIRE drawdown since its inception was -16.11%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for JIRE and UGA.
Loading charts...
Drawdown Indicators
| JIRE | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.11% | -86.59% | +70.48% |
Max Drawdown (1Y)Largest decline over 1 year | -11.77% | -18.96% | +7.19% |
Max Drawdown (3Y)Largest decline over 3 years | -13.61% | -26.68% | +13.07% |
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 | -1.96% | -18.05% | +16.09% |
Average DrawdownAverage peak-to-trough decline | -3.02% | -36.69% | +33.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 6.43% | -3.17% |
Volatility
JIRE vs. UGA - Volatility Comparison
The current volatility for JPMorgan International Research Enhanced Equity ETF (JIRE) is 5.22%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that JIRE 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.
Loading charts...
Volatility by Period
| JIRE | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.22% | 9.24% | -4.02% |
Volatility (6M)Calculated over the trailing 6-month period | 13.55% | 30.57% | -17.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.10% | 35.22% | -19.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.36% | 34.45% | -18.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.36% | 37.22% | -20.86% |
JIRE vs. UGA - Expense Ratio Comparison
JIRE has a 0.24% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
JIRE vs. UGA - Dividend Comparison
JIRE's dividend yield for the trailing twelve months is around 2.76%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
JIRE JPMorgan International Research Enhanced Equity ETF | 2.76% | 2.99% | 3.03% | 2.74% | 2.62% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JIRE 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 (9.24%) compared to JIRE (5.22%). In terms of maximum drawdown, JIRE dropped -16.11% vs UGA's -86.59%.
On 3-year performance, UGA leads with 18.95% vs 16.50% for JIRE. On fees, JIRE is cheaper at 0.24% per year. On volatility, JIRE has been the lower-risk option at 5.22%. 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 16.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JIRE is cheaper with a 0.24% expense ratio, compared with 0.75% for UGA.
JIRE has the higher dividend yield at 2.76%, compared with 0.00% for UGA.
JIRE is categorized as Foreign Large Cap Equities, while UGA is Oil & Gas. They also come from different issuers: JPMorgan and Concierge Technologies. Their fees differ too: 0.24% for JIRE and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs 1.34), 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.
Find the right allocation for JIRE and UGA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer