JTEK vs. UGA

Last updated Jun 25, 2026

JTEK (JPMorgan U.S. Tech Leaders ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - JTEK is a Technology Equities fund actively managed by JPMorgan, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. JTEK is actively managed, while UGA is passively managed. Over the past year, JTEK returned 26.71% vs 62.68% for UGA. At a correlation of -0.02, they often move in opposite directions. JTEK charges 0.65%/yr vs 0.75%/yr for UGA.

Performance

JTEK vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. Tech Leaders ETF (JTEK) 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, JTEK achieves a 15.98% return, which is significantly lower than UGA's 59.54% return.

JTEK

• 1D: -0.75%
• 1M: 0.44%
• YTD: 15.98%
• 6M: 13.56%
• 1Y: 26.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UGA

• 1D: -2.77%
• 1M: -14.54%
• YTD: 59.54%
• 6M: 55.91%
• 1Y: 62.68%
• 3Y*: 17.85%
• 5Y*: 22.22%
• 10Y*: 13.99%

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

JTEK vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JTEK JPMorgan U.S. Tech Leaders ETF	15.98%	19.03%	28.69%	18.31%
UGA United States Gasoline Fund LP	59.54%	-2.00%	3.77%	-2.07%

Correlation

The correlation between JTEK and UGA is -0.15, 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	-0.15
Correlation (All Time) Calculated using the full available price history since Oct 5, 2023	-0.02

The correlation between JTEK and UGA shifts across timeframes, from -0.15 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JTEK vs. UGA — Risk / Return Rank

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

JTEK

JTEK Risk / Return Rank: 28
JTEK Sharpe Ratio Rank: 30
JTEK Sortino Ratio Rank: 28
JTEK Omega Ratio Rank: 28
JTEK Calmar Ratio Rank: 27
JTEK Martin Ratio Rank: 28

UGA

UGA Risk / Return Rank: 60
UGA Sharpe Ratio Rank: 62
UGA Sortino Ratio Rank: 54
UGA Omega Ratio Rank: 55
UGA Calmar Ratio Rank: 69
UGA Martin Ratio Rank: 60

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.

JTEK vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Tech Leaders ETF (JTEK) 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.

	JTEK	UGA	Difference
Sharpe ratio: Return per unit of total volatility	1.01	1.83	-0.82
Sortino ratio: Return per unit of downside risk	1.43	2.35	-0.92
Omega ratio: Gain probability vs. loss probability	1.18	1.31	-0.13
Calmar ratio: Return relative to maximum drawdown	1.22	3.10	-1.88
Martin ratio: Return relative to average drawdown	3.49	9.66	-6.17

JTEK vs. UGA - Sharpe Ratio Comparison

The current JTEK Sharpe Ratio is 1.01, which is lower than the UGA Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of JTEK and UGA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JTEK vs. UGA - Drawdown Comparison

The maximum JTEK drawdown since its inception was -30.61%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for JTEK and UGA.

Drawdown Indicators

	JTEK	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-30.61%	-86.59%	+55.98%
Max Drawdown (1Y) Largest decline over 1 year	-22.02%	-20.32%	-1.70%
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	-6.01%	-20.32%	+14.31%
Average Drawdown Average peak-to-trough decline	-5.57%	-36.69%	+31.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.67%	6.51%	+1.16%

Volatility

JTEK vs. UGA - Volatility Comparison

JPMorgan U.S. Tech Leaders ETF (JTEK) has a higher volatility of 12.66% compared to United States Gasoline Fund LP (UGA) at 9.45%. This indicates that JTEK'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.

Volatility by Period

	JTEK	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.66%	9.45%	+3.21%
Volatility (6M) Calculated over the trailing 6-month period	21.47%	30.74%	-9.27%
Volatility (1Y) Calculated over the trailing 1-year period	26.78%	34.84%	-8.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.98%	34.47%	-6.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.98%	37.22%	-9.24%

JTEK vs. UGA - Expense Ratio Comparison

JTEK has a 0.65% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

JTEK vs. UGA - Dividend Comparison

Neither JTEK nor UGA has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JTEK and UGA in my portfolio?

JTEK and UGA have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JTEK or UGA?

JTEK has higher volatility (12.66%) compared to UGA (9.45%). In terms of maximum drawdown, JTEK dropped -30.61% vs UGA's -86.59%.

Which ETF is better, JTEK or UGA?

On 1-year performance, UGA leads with 62.68% vs 26.71% for JTEK. On fees, JTEK is cheaper at 0.65% per year. On volatility, UGA has been the lower-risk option at 9.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JTEK or UGA?

Over the 1-year period, UGA has performed better with a 62.68% return vs 26.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JTEK or UGA?

JTEK is cheaper with a 0.65% expense ratio, compared with 0.75% for UGA.

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

JTEK and UGA have nearly identical dividend yields, around 0.00%.

What is the main difference between JTEK and UGA?

JTEK is categorized as Technology Equities, while UGA is Oil & Gas. They also come from different issuers: JPMorgan and Concierge Technologies. Their fees differ too: 0.65% for JTEK and 0.75% for UGA.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (1.82 vs 1.01), 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.