KTEC vs. UGA
KTEC (KraneShares Hang Seng TECH Index ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - KTEC is a China Equities fund tracking the Hang Seng Tech Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 5 years, KTEC returned -12.60%/yr vs 22.69%/yr for UGA. At a 0.05 correlation, their price movements are largely independent. KTEC charges 0.69%/yr vs 0.75%/yr for UGA.
Performance
KTEC vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, KTEC achieves a -21.33% return, which is significantly lower than UGA's 64.09% return.
KTEC
- 1D
- -2.22%
- 1M
- -7.85%
- YTD
- -21.33%
- 6M
- -21.98%
- 1Y
- -19.03%
- 3Y*
- 3.17%
- 5Y*
- -12.60%
- 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%
KTEC vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
KTEC KraneShares Hang Seng TECH Index ETF | -21.33% | 21.01% | 16.13% | -10.41% | -26.12% | -29.98% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 14.83% |
Correlation
The correlation between KTEC and UGA is -0.12, 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 | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jun 9, 2021 | 0.05 |
The correlation between KTEC and UGA shifts across timeframes, from -0.12 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KTEC vs. UGA — Risk / Return Rank
KTEC
UGA
KTEC vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares Hang Seng TECH Index ETF (KTEC) 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.
| KTEC | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.42 | ||
| Sortino ratioReturn per unit of downside risk | -3.13 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.30 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.55 | 3.17 | -3.72 |
| Martin ratioReturn relative to average drawdown | -1.08 | 9.39 | -10.47 |
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Drawdowns
KTEC vs. UGA - Drawdown Comparison
The maximum KTEC drawdown since its inception was -66.90%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for KTEC and UGA.
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Drawdown Indicators
| KTEC | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.90% | -86.59% | +19.69% |
Max Drawdown (1Y)Largest decline over 1 year | -34.76% | -18.96% | -15.80% |
Max Drawdown (3Y)Largest decline over 3 years | -34.76% | -26.68% | -8.08% |
Max Drawdown (5Y)Largest decline over 5 years | -66.90% | -38.11% | -28.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -50.35% | -18.05% | -32.30% |
Average DrawdownAverage peak-to-trough decline | -43.97% | -36.69% | -7.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.67% | 6.43% | +11.24% |
Volatility
KTEC vs. UGA - Volatility Comparison
The current volatility for KraneShares Hang Seng TECH Index ETF (KTEC) is 8.17%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that KTEC 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
| KTEC | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.17% | 9.24% | -1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 20.90% | 30.57% | -9.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.88% | 35.22% | -7.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.21% | 34.45% | +8.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.05% | 37.22% | +5.83% |
KTEC vs. UGA - Expense Ratio Comparison
KTEC has a 0.69% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
KTEC vs. UGA - Dividend Comparison
KTEC's dividend yield for the trailing twelve months is around 4.26%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
KTEC KraneShares Hang Seng TECH Index ETF | 4.26% | 3.36% | 0.27% | 0.81% | 0.16% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KTEC and UGA have a correlation of -0.12, 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 KTEC (8.17%). In terms of maximum drawdown, KTEC dropped -66.90% vs UGA's -86.59%.
On 5-year performance, UGA leads with 22.69% vs -12.60% for KTEC. On fees, KTEC is cheaper at 0.69% per year. On volatility, KTEC has been the lower-risk option at 8.17%. 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 -12.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KTEC is cheaper with a 0.69% expense ratio, compared with 0.75% for UGA.
KTEC has the higher dividend yield at 4.26%, compared with 0.00% for UGA.
KTEC is categorized as China Equities, while UGA is Oil & Gas. KTEC tracks Hang Seng Tech Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: KraneShares and Concierge Technologies. Their fees differ too: 0.69% for KTEC and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs -0.69), 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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