OARK vs. UGA
OARK (YieldMax Innovation Option Income Strategy ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - OARK is a Options Trading fund actively managed by YieldMax, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. OARK is actively managed, while UGA is passively managed. Over the past 3 years, OARK returned 13.04%/yr vs 18.95%/yr for UGA. At a correlation of -0.01, they often move in opposite directions. OARK charges 0.99%/yr vs 0.75%/yr for UGA.
Performance
OARK vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, OARK achieves a 3.98% return, which is significantly lower than UGA's 64.09% return.
OARK
- 1D
- -1.92%
- 1M
- -0.93%
- YTD
- 3.98%
- 6M
- 0.77%
- 1Y
- 16.90%
- 3Y*
- 13.04%
- 5Y*
- —
- 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%
OARK vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OARK YieldMax Innovation Option Income Strategy ETF | 3.98% | 20.37% | 7.32% | 20.12% | -9.11% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 1.46% |
Correlation
The correlation between OARK and UGA is -0.18, 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 | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2022 | -0.01 |
The correlation between OARK and UGA shifts across timeframes, from -0.18 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
OARK vs. UGA — Risk / Return Rank
OARK
UGA
OARK vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax Innovation Option Income Strategy ETF (OARK) 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.
| OARK | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.13 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.30 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.73 | 3.17 | -2.44 |
| Martin ratioReturn relative to average drawdown | 1.70 | 9.39 | -7.69 |
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Drawdowns
OARK vs. UGA - Drawdown Comparison
The maximum OARK drawdown since its inception was -35.48%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for OARK and UGA.
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Drawdown Indicators
| OARK | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.48% | -86.59% | +51.11% |
Max Drawdown (1Y)Largest decline over 1 year | -23.26% | -18.96% | -4.30% |
Max Drawdown (3Y)Largest decline over 3 years | -35.48% | -26.68% | -8.80% |
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 | -8.62% | -18.05% | +9.43% |
Average DrawdownAverage peak-to-trough decline | -10.54% | -36.69% | +26.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.96% | 6.43% | +3.53% |
Volatility
OARK vs. UGA - Volatility Comparison
YieldMax Innovation Option Income Strategy ETF (OARK) and United States Gasoline Fund LP (UGA) have volatilities of 9.68% and 9.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OARK | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.68% | 9.24% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 21.07% | 30.57% | -9.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.55% | 35.22% | -6.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.95% | 34.45% | -3.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.95% | 37.22% | -6.27% |
OARK vs. UGA - Expense Ratio Comparison
OARK has a 0.99% expense ratio, which is higher than UGA's 0.75% expense ratio.
Dividends
OARK vs. UGA - Dividend Comparison
OARK's dividend yield for the trailing twelve months is around 63.14%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
OARK YieldMax Innovation Option Income Strategy ETF | 63.14% | 61.86% | 47.86% | 45.03% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OARK and UGA have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OARK has higher volatility (9.68%) compared to UGA (9.24%). In terms of maximum drawdown, OARK dropped -35.48% vs UGA's -86.59%.
On 3-year performance, UGA leads with 18.95% vs 13.04% for OARK. On fees, UGA is cheaper at 0.75% 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 3-year period, UGA has performed better with a 18.95% return vs 13.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UGA is cheaper with a 0.75% expense ratio, compared with 0.99% for OARK.
OARK has the higher dividend yield at 63.14%, compared with 0.00% for UGA.
OARK is categorized as Options Trading, while UGA is Oil & Gas. They also come from different issuers: YieldMax and Concierge Technologies. Their fees differ too: 0.99% for OARK and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs 0.59), 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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