PNQI vs. UGA
PNQI (Invesco NASDAQ Internet ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - PNQI is a Large Cap Growth Equities fund tracking the NASDAQ Internet Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, PNQI returned 11.68%/yr vs 13.99%/yr for UGA. At a 0.19 correlation, their price movements are largely independent. PNQI charges 0.62%/yr vs 0.75%/yr for UGA.
Performance
PNQI vs. UGA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PNQI achieves a -16.35% return, which is significantly lower than UGA's 59.54% return. Over the past 10 years, PNQI has underperformed UGA with an annualized return of 11.68%, while UGA has yielded a comparatively higher 13.99% annualized return.
PNQI
- 1D
- 0.79%
- 1M
- -6.33%
- YTD
- -16.35%
- 6M
- -17.13%
- 1Y
- -11.61%
- 3Y*
- 13.46%
- 5Y*
- -2.51%
- 10Y*
- 11.68%
UGA
- 1D
- -2.77%
- 1M
- -14.54%
- YTD
- 59.54%
- 6M
- 55.91%
- 1Y
- 62.68%
- 3Y*
- 17.85%
- 5Y*
- 22.22%
- 10Y*
- 13.99%
PNQI vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNQI Invesco NASDAQ Internet ETF | -16.35% | 15.56% | 29.44% | 60.69% | -47.92% | -5.57% | 61.36% | 28.76% | -5.08% | 40.05% |
UGA United States Gasoline Fund LP | 59.54% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 1.69% |
Correlation
The correlation between PNQI and UGA is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2008 | 0.19 |
The correlation between PNQI and UGA shifts across timeframes, from -0.17 (1 year) to 0.19 (all time), 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.
Return for Risk
PNQI vs. UGA — Risk / Return Rank
PNQI
UGA
PNQI vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ Internet ETF (PNQI) 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.
| PNQI | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.45 | ||
| Sortino ratioReturn per unit of downside risk | -3.10 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.31 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | 3.10 | -3.57 |
| Martin ratioReturn relative to average drawdown | -1.01 | 9.66 | -10.68 |
Loading charts...
Drawdowns
PNQI vs. UGA - Drawdown Comparison
The maximum PNQI drawdown since its inception was -59.70%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for PNQI and UGA.
Loading charts...
Drawdown Indicators
| PNQI | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.70% | -86.59% | +26.89% |
Max Drawdown (1Y)Largest decline over 1 year | -24.85% | -20.32% | -4.53% |
Max Drawdown (3Y)Largest decline over 3 years | -24.85% | -26.68% | +1.83% |
Max Drawdown (5Y)Largest decline over 5 years | -59.56% | -38.11% | -21.45% |
Max Drawdown (10Y)Largest decline over 10 years | -59.70% | -75.89% | +16.19% |
Current DrawdownCurrent decline from peak | -20.94% | -20.32% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -12.98% | -36.69% | +23.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.46% | 6.51% | +4.95% |
Volatility
PNQI vs. UGA - Volatility Comparison
The current volatility for Invesco NASDAQ Internet ETF (PNQI) is 7.10%, while United States Gasoline Fund LP (UGA) has a volatility of 9.45%. This indicates that PNQI 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
| PNQI | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.10% | 9.45% | -2.35% |
Volatility (6M)Calculated over the trailing 6-month period | 14.91% | 30.74% | -15.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.80% | 34.84% | -16.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.90% | 34.47% | -7.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.31% | 37.22% | -11.91% |
PNQI vs. UGA - Expense Ratio Comparison
PNQI has a 0.62% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
PNQI vs. UGA - Dividend Comparison
Neither PNQI nor UGA has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PNQI Invesco NASDAQ Internet ETF | 0.00% | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02% |
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% |
Frequently Asked Questions
PNQI and UGA have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (9.45%) compared to PNQI (7.10%). In terms of maximum drawdown, PNQI dropped -59.70% vs UGA's -86.59%.
On 10-year performance, UGA leads with 13.99% vs 11.68% for PNQI. On fees, PNQI is cheaper at 0.62% per year. On volatility, PNQI has been the lower-risk option at 7.10%. 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 13.99% return vs 11.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PNQI is cheaper with a 0.62% expense ratio, compared with 0.75% for UGA.
PNQI and UGA have nearly identical dividend yields, around 0.00%.
PNQI is categorized as Large Cap Growth Equities, while UGA is Oil & Gas. PNQI tracks NASDAQ Internet Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Invesco and Concierge Technologies. Their fees differ too: 0.62% for PNQI and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.82 vs -0.62), 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.
Find the right allocation for PNQI 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