QRMI vs. UGA
QRMI (Global X NASDAQ 100 Risk Managed Income ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - QRMI is a Nasdaq-100 fund actively managed by Global X, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. QRMI is actively managed, while UGA is passively managed. Over the past 3 years, QRMI returned 7.36%/yr vs 18.95%/yr for UGA. At a 0.05 correlation, their price movements are largely independent. QRMI charges 0.60%/yr vs 0.75%/yr for UGA.
Performance
QRMI vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, QRMI achieves a 2.46% return, which is significantly lower than UGA's 64.09% return.
QRMI
- 1D
- -0.85%
- 1M
- 0.75%
- YTD
- 2.46%
- 6M
- 2.38%
- 1Y
- 9.91%
- 3Y*
- 7.36%
- 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%
QRMI vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QRMI Global X NASDAQ 100 Risk Managed Income ETF | 2.46% | 3.76% | 14.72% | 11.73% | -18.50% | -2.40% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 11.97% |
Correlation
The correlation between QRMI 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 | -0.01 |
Correlation (All Time) Calculated using the full available price history since Aug 26, 2021 | 0.05 |
The correlation between QRMI and UGA shifts across timeframes, from -0.17 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QRMI vs. UGA — Risk / Return Rank
QRMI
UGA
QRMI vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X NASDAQ 100 Risk Managed Income ETF (QRMI) 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.
| QRMI | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.30 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 3.17 | -1.19 |
| Martin ratioReturn relative to average drawdown | 8.61 | 9.39 | -0.78 |
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Drawdowns
QRMI vs. UGA - Drawdown Comparison
The maximum QRMI drawdown since its inception was -20.95%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for QRMI and UGA.
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Drawdown Indicators
| QRMI | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.95% | -86.59% | +65.64% |
Max Drawdown (1Y)Largest decline over 1 year | -5.04% | -18.96% | +13.92% |
Max Drawdown (3Y)Largest decline over 3 years | -8.43% | -26.68% | +18.25% |
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 | -0.85% | -18.05% | +17.20% |
Average DrawdownAverage peak-to-trough decline | -7.90% | -36.69% | +28.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 6.43% | -5.28% |
Volatility
QRMI vs. UGA - Volatility Comparison
The current volatility for Global X NASDAQ 100 Risk Managed Income ETF (QRMI) is 2.24%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that QRMI 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
| QRMI | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.24% | 9.24% | -7.00% |
Volatility (6M)Calculated over the trailing 6-month period | 4.92% | 30.57% | -25.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.98% | 35.22% | -29.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.35% | 34.45% | -26.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.35% | 37.22% | -28.87% |
QRMI vs. UGA - Expense Ratio Comparison
QRMI has a 0.60% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
QRMI vs. UGA - Dividend Comparison
QRMI's dividend yield for the trailing twelve months is around 12.33%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
QRMI Global X NASDAQ 100 Risk Managed Income ETF | 12.33% | 12.28% | 11.80% | 12.44% | 10.65% | 3.36% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QRMI 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 (9.24%) compared to QRMI (2.24%). In terms of maximum drawdown, QRMI dropped -20.95% vs UGA's -86.59%.
On 3-year performance, UGA leads with 18.95% vs 7.36% for QRMI. On fees, QRMI is cheaper at 0.60% per year. On volatility, QRMI has been the lower-risk option at 2.24%. 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 7.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QRMI is cheaper with a 0.60% expense ratio, compared with 0.75% for UGA.
QRMI has the higher dividend yield at 12.33%, compared with 0.00% for UGA.
QRMI is categorized as Nasdaq-100, while UGA is Oil & Gas. They also come from different issuers: Global X and Concierge Technologies. Their fees differ too: 0.60% for QRMI and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs 1.67), 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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