JOYT vs. UGA

Last updated Jun 5, 2026

JOYT (JPMorgan Equity And Options Total Return ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - JOYT is a Derivative Income fund actively managed by JPMorgan, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. JOYT is actively managed, while UGA is passively managed. At a correlation of -0.22, they often move in opposite directions. JOYT charges 0.35%/yr vs 0.75%/yr for UGA.

Performance

JOYT vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity And Options Total Return ETF (JOYT) and United States Gasoline Fund LP (UGA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JOYT achieves a 5.19% return, which is significantly lower than UGA's 70.69% return.

JOYT

• 1D: 0.10%
• 1M: 2.67%
• YTD: 5.19%
• 6M: 6.94%
• 1Y: —
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JOYT vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025
JOYT JPMorgan Equity And Options Total Return ETF	5.19%	9.58%
UGA United States Gasoline Fund LP	70.69%	-0.82%

Correlation

The correlation between JOYT and UGA is -0.22, 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 (All Time) Calculated using the full available price history since Aug 20, 2025	-0.22

Return for Risk

JOYT vs. UGA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UGA

UGA Risk / Return Rank: 70
UGA Sharpe Ratio Rank: 71
UGA Sortino Ratio Rank: 58
UGA Omega Ratio Rank: 62
UGA Calmar Ratio Rank: 89
UGA Martin Ratio Rank: 70

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.

JOYT vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity And Options Total Return ETF (JOYT) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	JOYT	UGA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.27	—
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	2.11	0.12	+1.99

Drawdowns

JOYT vs. UGA - Drawdown Comparison

The maximum JOYT drawdown since its inception was -6.99%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for JOYT and UGA.

Drawdown Indicators

	JOYT	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-6.99%	-86.59%	+79.60%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.88%	—
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 Drawdown Current decline from peak	-0.09%	-14.75%	+14.66%
Average Drawdown Average peak-to-trough decline	-0.87%	-36.76%	+35.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.20%	—

Volatility

Volatility by Period

	JOYT	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.64%	—
Volatility (6M) Calculated over the trailing 6-month period	—	30.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.36%	35.27%	-25.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.36%	34.40%	-25.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.36%	37.27%	-27.91%

JOYT vs. UGA - Expense Ratio Comparison

JOYT has a 0.35% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

JOYT vs. UGA - Dividend Comparison

JOYT's dividend yield for the trailing twelve months is around 0.45%, while UGA has not paid dividends to shareholders.

Position	TTM	2025
JOYT JPMorgan Equity And Options Total Return ETF	0.45%	0.28%
UGA United States Gasoline Fund LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both JOYT and UGA in my portfolio?

JOYT and UGA have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JOYT or UGA?

On fees, JOYT is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JOYT or UGA?

JOYT is cheaper with a 0.35% expense ratio, compared with 0.75% for UGA.

Which ETF pays a higher dividend yield, JOYT or UGA?

JOYT has the higher dividend yield at 0.45%, compared with 0.00% for UGA.

What is the main difference between JOYT and UGA?

JOYT is categorized as Derivative Income, while UGA is Oil & Gas. They also come from different issuers: JPMorgan and Concierge Technologies. Their fees differ too: 0.35% for JOYT and 0.75% for UGA.