PortfoliosLab logoPortfoliosLab logo

Documentation

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

SDY vs. UGA

Last updated Jun 4, 2026

SDY (SPDR S&P Dividend ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - SDY is a Mid Cap Value Equities fund tracking the S&P High Yield Dividend Aristocrats Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, SDY returned 9.29%/yr vs 14.43%/yr for UGA. At a 0.23 correlation, their price movements are largely independent. SDY charges 0.35%/yr vs 0.75%/yr for UGA.

Performance

SDY vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Dividend ETF (SDY) 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, SDY achieves a 7.49% return, which is significantly lower than UGA's 75.49% return. Over the past 10 years, SDY has underperformed UGA with an annualized return of 9.29%, while UGA has yielded a comparatively higher 14.43% annualized return.

SDY

1D
-0.15%
1M
0.81%
YTD
7.49%
6M
7.45%
1Y
12.80%
3Y*
9.83%
5Y*
5.97%
10Y*
9.29%

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)

SDY vs. UGA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SDY
SPDR S&P Dividend ETF		7.49%8.18%8.45%2.61%-0.54%25.32%1.71%23.29%-2.74%15.82%
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 SDY and UGA is -0.16, 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

-0.16

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

-0.02

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

0.10

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

0.18

Correlation (All Time)
Calculated using the full available price history since Feb 29, 2008

0.23

The correlation between SDY and UGA shifts across timeframes, from -0.16 (1 year) to 0.23 (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.

SPDR S&P Dividend ETF

United States Gasoline Fund LP

Often compared with SDY:
SDY vs. SCHDSDY vs. NOBLSDY vs. SPYDSDY vs. VYMSDY vs. SPYSDY vs. VIGSDY vs. VOO
Often compared with UGA:
UGA vs. URAUGA vs. FCGUGA vs. QQQUGA vs. VOOUGA vs. USOUGA vs. SPYUGA vs. FNGS

Return for Risk

SDY vs. UGA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SDY
SDY Risk / Return Rank: 3333
Overall Rank
SDY Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
SDY Sortino Ratio Rank: 3636
Sortino Ratio Rank
SDY Omega Ratio Rank: 3131
Omega Ratio Rank
SDY Calmar Ratio Rank: 3333
Calmar Ratio Rank
SDY Martin Ratio Rank: 3131
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.

SDY vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Dividend ETF (SDY) 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.

SDYUGADifference
Sharpe ratioReturn per unit of total volatility
1.25
2.32

-1.07

Sortino ratioReturn per unit of downside risk
1.92
2.75

-0.83

Omega ratioGain probability vs. loss probability

1.22

1.37

-0.16

Calmar ratioReturn relative to maximum drawdown

1.68

5.47

-3.79

Martin ratioReturn relative to average drawdown

4.60

13.25

-8.64

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

SDY vs. UGA - Sharpe Ratio Comparison

The current SDY Sharpe Ratio is 1.25, which is lower than the UGA Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of SDY 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

SDYUGADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.25

2.32

-1.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.43

0.73

-0.31

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

0.39

+0.16

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.12

+0.35

Drawdowns

SDY vs. UGA - Drawdown Comparison

The maximum SDY drawdown since its inception was -54.75%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for SDY and UGA.

Loading charts...

Drawdown Indicators

SDYUGADifference

Max Drawdown

Largest peak-to-trough decline

-54.75%

-86.59%

+31.84%

Max Drawdown (1Y)

Largest decline over 1 year

-7.67%

-14.88%

+7.21%

Max Drawdown (3Y)

Largest decline over 3 years

-14.39%

-26.68%

+12.29%

Max Drawdown (5Y)

Largest decline over 5 years

-15.21%

-38.11%

+22.90%

Max Drawdown (10Y)

Largest decline over 10 years

-36.70%

-75.89%

+39.19%

Current Drawdown

Current decline from peak

-4.07%

-12.35%

+8.28%

Average Drawdown

Average peak-to-trough decline

-6.21%

-36.76%

+30.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.79%

6.13%

-3.34%

Volatility

SDY vs. UGA - Volatility Comparison

The current volatility for SPDR S&P Dividend ETF (SDY) is 2.47%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that SDY 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

SDYUGADifference

Volatility (1M)

Calculated over the trailing 1-month period

2.47%

11.66%

-9.19%

Volatility (6M)

Calculated over the trailing 6-month period

7.43%

30.41%

-22.98%

Volatility (1Y)

Calculated over the trailing 1-year period

10.33%

35.14%

-24.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.03%

34.38%

-20.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.08%

37.27%

-20.19%

SDY vs. UGA - Expense Ratio Comparison

SDY has a 0.35% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

SDY vs. UGA - Dividend Comparison

SDY's dividend yield for the trailing twelve months is around 2.48%, while UGA has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
SDY
SPDR S&P Dividend ETF		2.48%2.61%2.56%2.64%2.55%2.63%2.85%2.45%2.73%4.69%3.30%6.20%
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

SDY and UGA have a correlation of -0.16, 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 SDY (2.47%). In terms of maximum drawdown, SDY dropped -54.75% vs UGA's -86.59%.

On 10-year performance, UGA leads with 14.43% vs 9.29% for SDY. On fees, SDY is cheaper at 0.35% per year. On volatility, SDY has been the lower-risk option at 2.47%. 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 9.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SDY is cheaper with a 0.35% expense ratio, compared with 0.75% for UGA.

SDY has the higher dividend yield at 2.48%, compared with 0.00% for UGA.

SDY is categorized as Mid Cap Value Equities, while UGA is Oil & Gas. SDY tracks S&P High Yield Dividend Aristocrats Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: State Street and Concierge Technologies. Their fees differ too: 0.35% for SDY and 0.75% for UGA.

UGA currently has the higher Sharpe Ratio (2.32 vs 1.25), 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 SDY 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