SVAL vs. UGA
SVAL (iShares US Small Cap Value Factor ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - SVAL is a Small Cap Value Equities fund tracking the Russell 2000 Focused Value Select Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 5 years, SVAL returned 7.82%/yr vs 22.69%/yr for UGA. At a 0.17 correlation, their price movements are largely independent. SVAL charges 0.20%/yr vs 0.75%/yr for UGA.
Performance
SVAL vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, SVAL achieves a 19.67% return, which is significantly lower than UGA's 64.09% return.
SVAL
- 1D
- 0.40%
- 1M
- 3.18%
- YTD
- 19.67%
- 6M
- 17.31%
- 1Y
- 37.13%
- 3Y*
- 18.89%
- 5Y*
- 7.82%
- 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%
SVAL vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SVAL iShares US Small Cap Value Factor ETF | 19.67% | 8.23% | 7.54% | 12.27% | -10.15% | 33.18% | 29.82% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | 33.35% |
Correlation
The correlation between SVAL and UGA is -0.15, 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 | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2020 | 0.17 |
The correlation between SVAL and UGA shifts across timeframes, from -0.15 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SVAL vs. UGA — Risk / Return Rank
SVAL
UGA
SVAL vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares US Small Cap Value Factor ETF (SVAL) 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.
| SVAL | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.30 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.17 | 3.17 | +1.01 |
| Martin ratioReturn relative to average drawdown | 13.13 | 9.39 | +3.74 |
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Drawdowns
SVAL vs. UGA - Drawdown Comparison
The maximum SVAL drawdown since its inception was -27.44%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for SVAL and UGA.
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Drawdown Indicators
| SVAL | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.44% | -86.59% | +59.15% |
Max Drawdown (1Y)Largest decline over 1 year | -8.94% | -18.96% | +10.02% |
Max Drawdown (3Y)Largest decline over 3 years | -27.44% | -26.68% | -0.76% |
Max Drawdown (5Y)Largest decline over 5 years | -27.44% | -38.11% | +10.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -1.32% | -18.05% | +16.73% |
Average DrawdownAverage peak-to-trough decline | -8.44% | -36.69% | +28.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 6.43% | -3.59% |
Volatility
SVAL vs. UGA - Volatility Comparison
The current volatility for iShares US Small Cap Value Factor ETF (SVAL) is 4.03%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that SVAL 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
| SVAL | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.03% | 9.24% | -5.21% |
Volatility (6M)Calculated over the trailing 6-month period | 11.69% | 30.57% | -18.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.82% | 35.22% | -17.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.24% | 34.45% | -12.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.21% | 37.22% | -14.01% |
SVAL vs. UGA - Expense Ratio Comparison
SVAL has a 0.20% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
SVAL vs. UGA - Dividend Comparison
SVAL's dividend yield for the trailing twelve months is around 2.14%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
SVAL iShares US Small Cap Value Factor ETF | 2.14% | 2.33% | 1.82% | 2.25% | 2.09% | 2.33% | 0.28% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SVAL and UGA have a correlation of -0.15, 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 SVAL (4.03%). In terms of maximum drawdown, SVAL dropped -27.44% vs UGA's -86.59%.
On 5-year performance, UGA leads with 22.69% vs 7.82% for SVAL. On fees, SVAL is cheaper at 0.20% per year. On volatility, SVAL has been the lower-risk option at 4.03%. 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 7.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SVAL is cheaper with a 0.20% expense ratio, compared with 0.75% for UGA.
SVAL has the higher dividend yield at 2.14%, compared with 0.00% for UGA.
SVAL is categorized as Small Cap Value Equities, while UGA is Oil & Gas. SVAL tracks Russell 2000 Focused Value Select Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.20% for SVAL and 0.75% for UGA.
SVAL currently has the higher Sharpe Ratio (2.10 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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