QYLG vs. UGA
QYLG (Global X Nasdaq 100 Covered Call & Growth ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - QYLG is a Nasdaq-100 fund tracking the CBOE Nasdaq-100 BuyWrite V2 Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 5 years, QYLG returned 12.12%/yr vs 22.69%/yr for UGA. At a 0.04 correlation, their price movements are largely independent. QYLG charges 0.60%/yr vs 0.75%/yr for UGA.
Performance
QYLG vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, QYLG achieves a 12.38% return, which is significantly lower than UGA's 64.09% return.
QYLG
- 1D
- -2.59%
- 1M
- 0.48%
- YTD
- 12.38%
- 6M
- 11.55%
- 1Y
- 29.18%
- 3Y*
- 20.15%
- 5Y*
- 12.12%
- 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%
QYLG vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
QYLG Global X Nasdaq 100 Covered Call & Growth ETF | 12.38% | 15.29% | 22.02% | 38.73% | -26.27% | 18.29% | 13.88% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | 23.28% |
Correlation
The correlation between QYLG 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 (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2020 | 0.04 |
The correlation between QYLG and UGA shifts across timeframes, from -0.18 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QYLG vs. UGA — Risk / Return Rank
QYLG
UGA
QYLG vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Nasdaq 100 Covered Call & Growth ETF (QYLG) 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.
| QYLG | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.30 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 3.17 | +0.32 |
| Martin ratioReturn relative to average drawdown | 15.22 | 9.39 | +5.83 |
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Drawdowns
QYLG vs. UGA - Drawdown Comparison
The maximum QYLG drawdown since its inception was -29.98%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for QYLG and UGA.
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Drawdown Indicators
| QYLG | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.98% | -86.59% | +56.61% |
Max Drawdown (1Y)Largest decline over 1 year | -8.42% | -18.96% | +10.54% |
Max Drawdown (3Y)Largest decline over 3 years | -20.75% | -26.68% | +5.93% |
Max Drawdown (5Y)Largest decline over 5 years | -29.98% | -38.11% | +8.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -2.94% | -18.05% | +15.11% |
Average DrawdownAverage peak-to-trough decline | -6.37% | -36.69% | +30.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 6.43% | -4.51% |
Volatility
QYLG vs. UGA - Volatility Comparison
The current volatility for Global X Nasdaq 100 Covered Call & Growth ETF (QYLG) is 6.71%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that QYLG 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
| QYLG | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.71% | 9.24% | -2.53% |
Volatility (6M)Calculated over the trailing 6-month period | 11.50% | 30.57% | -19.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.67% | 35.22% | -21.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 34.45% | -16.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.05% | 37.22% | -19.17% |
QYLG vs. UGA - Expense Ratio Comparison
QYLG has a 0.60% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
QYLG vs. UGA - Dividend Comparison
QYLG's dividend yield for the trailing twelve months is around 16.69%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
QYLG Global X Nasdaq 100 Covered Call & Growth ETF | 16.69% | 17.93% | 25.27% | 5.43% | 6.91% | 10.15% | 1.44% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QYLG 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.
UGA has higher volatility (9.24%) compared to QYLG (6.71%). In terms of maximum drawdown, QYLG dropped -29.98% vs UGA's -86.59%.
On 5-year performance, UGA leads with 22.69% vs 12.12% for QYLG. On fees, QYLG is cheaper at 0.60% per year. On volatility, QYLG has been the lower-risk option at 6.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UGA has performed better with a 22.69% return vs 12.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QYLG is cheaper with a 0.60% expense ratio, compared with 0.75% for UGA.
QYLG has the higher dividend yield at 16.69%, compared with 0.00% for UGA.
QYLG is categorized as Nasdaq-100, while UGA is Oil & Gas. QYLG tracks CBOE Nasdaq-100 BuyWrite V2 Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Global X and Concierge Technologies. Their fees differ too: 0.60% for QYLG and 0.75% for UGA.
QYLG currently has the higher Sharpe Ratio (2.15 vs 1.73), 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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