METV vs. UGA
METV (Roundhill Ball Metaverse ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - METV is a Technology Equities fund tracking the Ball Metaverse Index - Benchmark TR Net, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 3 years, METV returned 23.94%/yr vs 22.21%/yr for UGA. At a 0.06 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
METV vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, METV achieves a 1.54% return, which is significantly lower than UGA's 75.49% return.
METV
- 1D
- -1.29%
- 1M
- 5.65%
- YTD
- 1.54%
- 6M
- -2.08%
- 1Y
- 20.08%
- 3Y*
- 23.94%
- 5Y*
- —
- 10Y*
- —
UGA
- 1D
- -0.19%
- 1M
- -12.35%
- YTD
- 75.49%
- 6M
- 64.35%
- 1Y
- 80.94%
- 3Y*
- 22.21%
- 5Y*
- 25.10%
- 10Y*
- 14.43%
METV vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
METV Roundhill Ball Metaverse ETF | 1.54% | 30.83% | 24.93% | 60.57% | -52.66% | 0.40% |
UGA United States Gasoline Fund LP | 75.49% | -2.00% | 3.77% | 1.27% | 46.34% | 14.22% |
Correlation
The correlation between METV and UGA is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021 | 0.06 |
The correlation between METV and UGA shifts across timeframes, from -0.21 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
METV vs. UGA — Risk / Return Rank
METV
UGA
METV vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill Ball Metaverse ETF (METV) 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.
| METV | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.47 | ||
| Sortino ratioReturn per unit of downside risk | -1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.37 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | 5.47 | -4.76 |
| Martin ratioReturn relative to average drawdown | 1.64 | 13.25 | -11.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| METV | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 2.32 | -1.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.73 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.12 | +0.04 |
Drawdowns
METV vs. UGA - Drawdown Comparison
The maximum METV drawdown since its inception was -59.64%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for METV and UGA.
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Drawdown Indicators
| METV | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.64% | -86.59% | +26.95% |
Max Drawdown (1Y)Largest decline over 1 year | -28.27% | -14.88% | -13.39% |
Max Drawdown (3Y)Largest decline over 3 years | -28.27% | -26.68% | -1.59% |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -10.18% | -12.35% | +2.17% |
Average DrawdownAverage peak-to-trough decline | -26.00% | -36.76% | +10.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.29% | 6.13% | +6.16% |
Volatility
METV vs. UGA - Volatility Comparison
The current volatility for Roundhill Ball Metaverse ETF (METV) is 5.70%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that METV 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
| METV | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.70% | 11.66% | -5.96% |
Volatility (6M)Calculated over the trailing 6-month period | 17.67% | 30.41% | -12.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.88% | 35.14% | -11.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.96% | 34.38% | -4.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.96% | 37.27% | -7.31% |
METV vs. UGA - Expense Ratio Comparison
Both METV and UGA have an expense ratio of 0.75%.
Dividends
METV vs. UGA - Dividend Comparison
METV's dividend yield for the trailing twelve months is around 0.18%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
METV Roundhill Ball Metaverse ETF | 0.18% | 0.18% | 0.00% | 0.17% | 0.09% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
METV and UGA have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.66%) compared to METV (5.70%). In terms of maximum drawdown, METV dropped -59.64% vs UGA's -86.59%.
On 3-year performance, METV leads with 23.94% vs 22.21% for UGA. Both ETFs have the same 0.75% expense ratio. On volatility, METV has been the lower-risk option at 5.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, METV has performed better with a 23.94% return vs 22.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
METV and UGA have the same expense ratio: 0.75% per year.
METV has the higher dividend yield at 0.18%, compared with 0.00% for UGA.
METV is categorized as Technology Equities, while UGA is Oil & Gas. METV tracks Ball Metaverse Index - Benchmark TR Net, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Roundhill Investments and Concierge Technologies.
UGA currently has the higher Sharpe Ratio (2.32 vs 0.84), 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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