PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ONEY vs. UGA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ONEY vs. UGA

Last updated Jun 4, 2026

ONEY (SPDR Russell 1000 Yield Focus ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - ONEY is a Mid Cap Value Equities fund tracking the Russell 1000 Yield Focused Factor Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, ONEY returned 12.04%/yr vs 14.43%/yr for UGA. At a 0.21 correlation, their price movements are largely independent. ONEY charges 0.20%/yr vs 0.75%/yr for UGA.

Performance

ONEY vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Russell 1000 Yield Focus ETF (ONEY) and United States Gasoline Fund LP (UGA). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, ONEY achieves a 14.26% return, which is significantly lower than UGA's 75.49% return. Over the past 10 years, ONEY has underperformed UGA with an annualized return of 12.04%, while UGA has yielded a comparatively higher 14.43% annualized return.

ONEY

1D
-0.18%
1M
3.52%
YTD
14.26%
6M
14.38%
1Y
23.42%
3Y*
15.65%
5Y*
8.74%
10Y*
12.04%

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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ONEY vs. UGA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ONEY
SPDR Russell 1000 Yield Focus ETF		14.26%7.74%11.63%11.12%-3.60%37.11%2.17%27.45%-8.71%15.46%
UGA
United States Gasoline Fund LP		75.49%-2.00%3.77%1.27%46.34%68.49%-24.88%41.25%-28.07%1.69%

Correlation

The correlation between ONEY and UGA is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.08

Correlation (3Y)
Calculated over the trailing 3-year period

0.06

Correlation (5Y)
Calculated over the trailing 5-year period

0.16

Correlation (10Y)
Calculated over the trailing 10-year period

0.21

Correlation (All Time)
Calculated using the full available price history since Dec 4, 2015

0.21

The correlation between ONEY and UGA shifts across timeframes, from -0.08 (1 year) to 0.21 (10 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Russell 1000 Yield Focus ETF

United States Gasoline Fund LP

Often compared with ONEY:
ONEY vs. ONEVONEY vs. SCHDONEY vs. ONEOONEY vs. RWKONEY vs. RFVONEY vs. VOEONEY vs. FSPGX
Often compared with UGA:
UGA vs. URAUGA vs. FCGUGA vs. QQQUGA vs. VOOUGA vs. USOUGA vs. SPYUGA vs. FNGS

Return for Risk

ONEY vs. UGA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ONEY
ONEY Risk / Return Rank: 5858
Overall Rank
ONEY Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
ONEY Sortino Ratio Rank: 6060
Sortino Ratio Rank
ONEY Omega Ratio Rank: 5454
Omega Ratio Rank
ONEY Calmar Ratio Rank: 6262
Calmar Ratio Rank
ONEY Martin Ratio Rank: 6262
Martin Ratio Rank
UGA
UGA Risk / Return Rank: 6969
Overall Rank
UGA Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
UGA Sortino Ratio Rank: 5757
Sortino Ratio Rank
UGA Omega Ratio Rank: 6060
Omega Ratio Rank
UGA Calmar Ratio Rank: 8989
Calmar Ratio Rank
UGA Martin Ratio Rank: 7171
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ONEY vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Yield Focus ETF (ONEY) 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.

ONEYUGADifference
Sharpe ratioReturn per unit of total volatility
1.90
2.32

-0.41

Sortino ratioReturn per unit of downside risk
2.86
2.75

+0.10

Omega ratioGain probability vs. loss probability

1.34

1.37

-0.04

Calmar ratioReturn relative to maximum drawdown

3.09

5.47

-2.38

Martin ratioReturn relative to average drawdown

11.15

13.25

-2.10

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ONEY vs. UGA - Sharpe Ratio Comparison

The current ONEY Sharpe Ratio is 1.90, which is comparable to the UGA Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of ONEY and UGA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

ONEYUGADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.90

2.32

-0.41

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.54

0.73

-0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.61

0.39

+0.22

Sharpe Ratio (All Time)

Calculated using the full available price history

0.62

0.12

+0.50

Drawdowns

ONEY vs. UGA - Drawdown Comparison

The maximum ONEY drawdown since its inception was -46.80%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for ONEY and UGA.

Loading charts...

Drawdown Indicators

ONEYUGADifference

Max Drawdown

Largest peak-to-trough decline

-46.80%

-86.59%

+39.79%

Max Drawdown (1Y)

Largest decline over 1 year

-7.61%

-14.88%

+7.27%

Max Drawdown (3Y)

Largest decline over 3 years

-17.50%

-26.68%

+9.18%

Max Drawdown (5Y)

Largest decline over 5 years

-18.93%

-38.11%

+19.18%

Max Drawdown (10Y)

Largest decline over 10 years

-46.80%

-75.89%

+29.09%

Current Drawdown

Current decline from peak

-0.18%

-12.35%

+12.17%

Average Drawdown

Average peak-to-trough decline

-4.98%

-36.76%

+31.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.11%

6.13%

-4.02%

Volatility

ONEY vs. UGA - Volatility Comparison

The current volatility for SPDR Russell 1000 Yield Focus ETF (ONEY) is 2.78%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that ONEY 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.

Loading charts...

Volatility by Period

ONEYUGADifference

Volatility (1M)

Calculated over the trailing 1-month period

2.78%

11.66%

-8.88%

Volatility (6M)

Calculated over the trailing 6-month period

8.42%

30.41%

-21.99%

Volatility (1Y)

Calculated over the trailing 1-year period

12.39%

35.14%

-22.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.15%

34.38%

-18.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.87%

37.27%

-17.40%

ONEY vs. UGA - Expense Ratio Comparison

ONEY has a 0.20% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

ONEY vs. UGA - Dividend Comparison

ONEY's dividend yield for the trailing twelve months is around 2.81%, while UGA has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
ONEY
SPDR Russell 1000 Yield Focus ETF		2.81%3.15%3.18%3.14%3.17%2.46%2.74%3.17%3.72%10.73%6.31%0.29%
UGA
United States Gasoline Fund LP		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ONEY and UGA have a correlation of -0.08, 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 ONEY (2.78%). In terms of maximum drawdown, ONEY dropped -46.80% vs UGA's -86.59%.

On 10-year performance, UGA leads with 14.43% vs 12.04% for ONEY. On fees, ONEY is cheaper at 0.20% per year. On volatility, ONEY has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, UGA has performed better with a 14.43% return vs 12.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ONEY is cheaper with a 0.20% expense ratio, compared with 0.75% for UGA.

ONEY has the higher dividend yield at 2.81%, compared with 0.00% for UGA.

ONEY is categorized as Mid Cap Value Equities, while UGA is Oil & Gas. ONEY tracks Russell 1000 Yield Focused Factor Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: State Street and Concierge Technologies. Their fees differ too: 0.20% for ONEY and 0.75% for UGA.

UGA currently has the higher Sharpe Ratio (2.32 vs 1.90), 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.

Portfolio Optimizer

Find the right allocation for ONEY and UGA

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer