RSHO vs. UGA
RSHO (Tema American Reshoring ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - RSHO is a Mid Cap Blend Equities fund actively managed by Tema, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. RSHO is actively managed, while UGA is passively managed. Over the past 3 years, RSHO returned 31.47%/yr vs 20.80%/yr for UGA. At a correlation of -0.04, they often move in opposite directions. Both charge a 0.75% expense ratio.
Performance
RSHO vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, RSHO achieves a 34.10% return, which is significantly lower than UGA's 70.69% return.
RSHO
- 1D
- 0.30%
- 1M
- 5.22%
- YTD
- 34.10%
- 6M
- 33.35%
- 1Y
- 57.98%
- 3Y*
- 31.47%
- 5Y*
- —
- 10Y*
- —
UGA
- 1D
- -2.73%
- 1M
- -12.25%
- YTD
- 70.69%
- 6M
- 59.72%
- 1Y
- 79.48%
- 3Y*
- 20.80%
- 5Y*
- 24.41%
- 10Y*
- 14.27%
RSHO vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
RSHO Tema American Reshoring ETF | 34.10% | 19.23% | 17.28% | 28.26% |
UGA United States Gasoline Fund LP | 70.69% | -2.00% | 3.77% | 6.29% |
Correlation
The correlation between RSHO and UGA is -0.27, 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 | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since May 12, 2023 | -0.04 |
Over the past year, the inverse relationship between RSHO and UGA has strengthened: their correlation has moved from -0.04 to -0.27, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
RSHO vs. UGA — Risk / Return Rank
RSHO
UGA
RSHO vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tema American Reshoring ETF (RSHO) 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.
| RSHO | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.37 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.98 | 5.37 | -1.39 |
| Martin ratioReturn relative to average drawdown | 15.23 | 12.86 | +2.37 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RSHO | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 2.27 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.71 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.48 | 0.12 | +1.37 |
Drawdowns
RSHO vs. UGA - Drawdown Comparison
The maximum RSHO drawdown since its inception was -27.31%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for RSHO and UGA.
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Drawdown Indicators
| RSHO | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.31% | -86.59% | +59.28% |
Max Drawdown (1Y)Largest decline over 1 year | -14.64% | -14.88% | +0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -27.31% | -26.68% | -0.63% |
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 | 0.00% | -14.75% | +14.75% |
Average DrawdownAverage peak-to-trough decline | -4.32% | -36.76% | +32.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.82% | 6.20% | -2.38% |
Volatility
RSHO vs. UGA - Volatility Comparison
The current volatility for Tema American Reshoring ETF (RSHO) is 8.91%, while United States Gasoline Fund LP (UGA) has a volatility of 11.64%. This indicates that RSHO 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
| RSHO | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.91% | 11.64% | -2.73% |
Volatility (6M)Calculated over the trailing 6-month period | 20.09% | 30.48% | -10.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.72% | 35.27% | -11.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.54% | 34.40% | -11.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.54% | 37.27% | -14.73% |
RSHO vs. UGA - Expense Ratio Comparison
Both RSHO and UGA have an expense ratio of 0.75%.
Dividends
RSHO vs. UGA - Dividend Comparison
RSHO's dividend yield for the trailing twelve months is around 0.22%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
RSHO Tema American Reshoring ETF | 0.22% | 0.30% | 0.26% | 0.25% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RSHO and UGA have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.64%) compared to RSHO (8.91%). In terms of maximum drawdown, RSHO dropped -27.31% vs UGA's -86.59%.
On 3-year performance, RSHO leads with 31.47% vs 20.80% for UGA. Both ETFs have the same 0.75% expense ratio. On volatility, RSHO has been the lower-risk option at 8.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, RSHO has performed better with a 31.47% return vs 20.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RSHO and UGA have the same expense ratio: 0.75% per year.
RSHO has the higher dividend yield at 0.22%, compared with 0.00% for UGA.
RSHO is categorized as Mid Cap Blend Equities, while UGA is Oil & Gas. They also come from different issuers: Tema and Concierge Technologies.
RSHO currently has the higher Sharpe Ratio (2.46 vs 2.27), 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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