KEMQ vs. UGA
KEMQ (KraneShares Emerging Markets Consumer Technology Index ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - KEMQ is a Emerging Markets Equities fund tracking the Solactive Emerging Markets Consumer Technology Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 5 years, KEMQ returned -4.14%/yr vs 22.69%/yr for UGA. At a 0.16 correlation, their price movements are largely independent. KEMQ charges 0.60%/yr vs 0.75%/yr for UGA.
Performance
KEMQ vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, KEMQ achieves a 2.13% return, which is significantly lower than UGA's 64.09% return.
KEMQ
- 1D
- -3.77%
- 1M
- 1.99%
- YTD
- 2.13%
- 6M
- 2.85%
- 1Y
- 21.94%
- 3Y*
- 22.94%
- 5Y*
- -4.14%
- 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%
KEMQ vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF | 2.13% | 56.28% | 13.81% | 0.77% | -38.09% | -27.31% | 39.26% | 28.26% | -25.52% | 1.43% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 11.40% |
Correlation
The correlation between KEMQ and UGA is -0.20, 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 | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2017 | 0.16 |
The correlation between KEMQ and UGA shifts across timeframes, from -0.20 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KEMQ vs. UGA — Risk / Return Rank
KEMQ
UGA
KEMQ vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) 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.
| KEMQ | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.30 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 3.17 | -2.16 |
| Martin ratioReturn relative to average drawdown | 2.59 | 9.39 | -6.80 |
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Drawdowns
KEMQ vs. UGA - Drawdown Comparison
The maximum KEMQ drawdown since its inception was -70.72%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for KEMQ and UGA.
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Drawdown Indicators
| KEMQ | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.72% | -86.59% | +15.87% |
Max Drawdown (1Y)Largest decline over 1 year | -21.94% | -18.96% | -2.98% |
Max Drawdown (3Y)Largest decline over 3 years | -21.94% | -26.68% | +4.74% |
Max Drawdown (5Y)Largest decline over 5 years | -66.02% | -38.11% | -27.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -31.41% | -18.05% | -13.36% |
Average DrawdownAverage peak-to-trough decline | -35.64% | -36.69% | +1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.49% | 6.43% | +2.06% |
Volatility
KEMQ vs. UGA - Volatility Comparison
KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) has a higher volatility of 11.75% compared to United States Gasoline Fund LP (UGA) at 9.24%. This indicates that KEMQ'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.
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Volatility by Period
| KEMQ | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.75% | 9.24% | +2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 22.87% | 30.57% | -7.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.40% | 35.22% | -7.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.15% | 34.45% | -2.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.67% | 37.22% | -7.55% |
KEMQ vs. UGA - Expense Ratio Comparison
KEMQ has a 0.60% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
KEMQ vs. UGA - Dividend Comparison
KEMQ's dividend yield for the trailing twelve months is around 5.16%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF | 5.16% | 5.27% | 0.73% | 0.29% | 0.00% | 0.28% | 2.28% | 1.76% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KEMQ and UGA have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KEMQ has higher volatility (11.75%) compared to UGA (9.24%). In terms of maximum drawdown, KEMQ dropped -70.72% vs UGA's -86.59%.
On 5-year performance, UGA leads with 22.69% vs -4.14% for KEMQ. On fees, KEMQ is cheaper at 0.60% per year. On volatility, UGA has been the lower-risk option at 9.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UGA has performed better with a 22.69% return vs -4.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KEMQ is cheaper with a 0.60% expense ratio, compared with 0.75% for UGA.
KEMQ has the higher dividend yield at 5.16%, compared with 0.00% for UGA.
KEMQ is categorized as Emerging Markets Equities, while UGA is Oil & Gas. KEMQ tracks Solactive Emerging Markets Consumer Technology Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: CICC and Concierge Technologies. Their fees differ too: 0.60% for KEMQ and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs 0.81), 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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