LQDI vs. UGA
LQDI (iShares Inflation Hedged Corporate Bond ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - LQDI is a Inflation-Protected Bonds fund actively managed by iShares, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. LQDI is actively managed, while UGA is passively managed. Over the past 5 years, LQDI returned 1.73%/yr vs 22.69%/yr for UGA. At a 0.00 correlation, their price movements are largely independent. LQDI charges 0.18%/yr vs 0.75%/yr for UGA.
Performance
LQDI vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, LQDI achieves a 1.33% return, which is significantly lower than UGA's 64.09% return.
LQDI
- 1D
- 0.02%
- 1M
- 0.38%
- YTD
- 1.33%
- 6M
- 1.56%
- 1Y
- 5.72%
- 3Y*
- 5.41%
- 5Y*
- 1.73%
- 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%
LQDI vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LQDI iShares Inflation Hedged Corporate Bond ETF | 1.33% | 8.84% | 1.48% | 8.85% | -15.33% | 7.53% | 11.82% | 15.83% | -2.07% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -33.82% |
Correlation
The correlation between LQDI and UGA is -0.19, 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 | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 10, 2018 | 0.00 |
The correlation between LQDI and UGA shifts across timeframes, from -0.19 (1 year) to 0.02 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
LQDI vs. UGA — Risk / Return Rank
LQDI
UGA
LQDI vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Inflation Hedged Corporate Bond ETF (LQDI) 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.
| LQDI | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.30 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 3.17 | -1.17 |
| Martin ratioReturn relative to average drawdown | 5.96 | 9.39 | -3.43 |
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Drawdowns
LQDI vs. UGA - Drawdown Comparison
The maximum LQDI drawdown since its inception was -28.99%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for LQDI and UGA.
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Drawdown Indicators
| LQDI | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.99% | -86.59% | +57.60% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -18.96% | +16.08% |
Max Drawdown (3Y)Largest decline over 3 years | -6.27% | -26.68% | +20.41% |
Max Drawdown (5Y)Largest decline over 5 years | -20.67% | -38.11% | +17.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -0.78% | -18.05% | +17.27% |
Average DrawdownAverage peak-to-trough decline | -5.22% | -36.69% | +31.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 6.43% | -5.47% |
Volatility
LQDI vs. UGA - Volatility Comparison
The current volatility for iShares Inflation Hedged Corporate Bond ETF (LQDI) is 1.20%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that LQDI 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
| LQDI | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 9.24% | -8.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.48% | 30.57% | -27.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.96% | 35.22% | -30.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.14% | 34.45% | -26.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.81% | 37.22% | -26.41% |
LQDI vs. UGA - Expense Ratio Comparison
LQDI has a 0.18% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
LQDI vs. UGA - Dividend Comparison
LQDI's dividend yield for the trailing twelve months is around 4.60%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
LQDI iShares Inflation Hedged Corporate Bond ETF | 4.60% | 4.46% | 4.65% | 3.98% | 3.27% | 2.42% | 2.34% | 3.26% | 2.53% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LQDI and UGA have a correlation of -0.19, 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 LQDI (1.20%). In terms of maximum drawdown, LQDI dropped -28.99% vs UGA's -86.59%.
On 5-year performance, UGA leads with 22.69% vs 1.73% for LQDI. On fees, LQDI is cheaper at 0.18% per year. On volatility, LQDI has been the lower-risk option at 1.20%. 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 1.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LQDI is cheaper with a 0.18% expense ratio, compared with 0.75% for UGA.
LQDI has the higher dividend yield at 4.60%, compared with 0.00% for UGA.
LQDI is categorized as Inflation-Protected Bonds, while UGA is Oil & Gas. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.18% for LQDI and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs 1.16), 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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