JMID vs. UGA
JMID (Janus Henderson Mid Cap Growth Alpha ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - JMID is a Mid Cap Growth Equities fund actively managed by Janus Henderson, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. JMID is actively managed, while UGA is passively managed. Over the past year, JMID returned 14.19% vs 79.48% for UGA. At a correlation of -0.11, they often move in opposite directions. JMID charges 0.30%/yr vs 0.75%/yr for UGA.
Performance
JMID vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, JMID achieves a 10.46% return, which is significantly lower than UGA's 70.69% return.
JMID
- 1D
- 0.81%
- 1M
- 4.35%
- YTD
- 10.46%
- 6M
- 9.00%
- 1Y
- 14.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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%
JMID vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
JMID Janus Henderson Mid Cap Growth Alpha ETF | 10.46% | 5.56% | 11.37% |
UGA United States Gasoline Fund LP | 70.69% | -2.00% | 6.17% |
Correlation
The correlation between JMID and UGA is -0.27, 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 | -0.27 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2024 | -0.11 |
The correlation between JMID and UGA shifts across timeframes, from -0.27 (1 year) to -0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JMID vs. UGA — Risk / Return Rank
JMID
UGA
JMID vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Mid Cap Growth Alpha ETF (JMID) 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.
| JMID | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.37 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 5.37 | -4.05 |
| Martin ratioReturn relative to average drawdown | 4.42 | 12.86 | -8.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JMID | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 2.27 | -1.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.71 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.12 | +0.66 |
Drawdowns
JMID vs. UGA - Drawdown Comparison
The maximum JMID drawdown since its inception was -25.58%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for JMID and UGA.
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Drawdown Indicators
| JMID | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.58% | -86.59% | +61.01% |
Max Drawdown (1Y)Largest decline over 1 year | -10.82% | -14.88% | +4.06% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.68% | — |
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 | -0.28% | -14.75% | +14.47% |
Average DrawdownAverage peak-to-trough decline | -4.57% | -36.76% | +32.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 6.20% | -2.98% |
Volatility
JMID vs. UGA - Volatility Comparison
The current volatility for Janus Henderson Mid Cap Growth Alpha ETF (JMID) is 4.23%, while United States Gasoline Fund LP (UGA) has a volatility of 11.64%. This indicates that JMID 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
| JMID | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.23% | 11.64% | -7.41% |
Volatility (6M)Calculated over the trailing 6-month period | 12.68% | 30.48% | -17.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.56% | 35.27% | -18.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.58% | 34.40% | -12.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.58% | 37.27% | -15.69% |
JMID vs. UGA - Expense Ratio Comparison
JMID has a 0.30% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
JMID vs. UGA - Dividend Comparison
JMID's dividend yield for the trailing twelve months is around 0.63%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
JMID Janus Henderson Mid Cap Growth Alpha ETF | 0.63% | 0.75% | 0.10% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JMID and UGA have a correlation of -0.27, 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 JMID (4.23%). In terms of maximum drawdown, JMID dropped -25.58% vs UGA's -86.59%.
On 1-year performance, UGA leads with 79.48% vs 14.19% for JMID. On fees, JMID is cheaper at 0.30% per year. On volatility, JMID has been the lower-risk option at 4.23%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, UGA has performed better with a 79.48% return vs 14.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JMID is cheaper with a 0.30% expense ratio, compared with 0.75% for UGA.
JMID has the higher dividend yield at 0.63%, compared with 0.00% for UGA.
JMID is categorized as Mid Cap Growth Equities, while UGA is Oil & Gas. They also come from different issuers: Janus Henderson and Concierge Technologies. Their fees differ too: 0.30% for JMID and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.27 vs 0.86), 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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