TOPW vs. UGA

Last updated Jun 4, 2026

TOPW (Roundhill Top WeeklyPay ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - TOPW is a Derivative Income fund tracking the Solactive Roundhill WeeklyPay Universe Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. At a correlation of -0.15, they often move in opposite directions. TOPW charges 0.99%/yr vs 0.75%/yr for UGA.

Performance

TOPW vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Top WeeklyPay ETF (TOPW) and United States Gasoline Fund LP (UGA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOPW achieves a 7.71% return, which is significantly lower than UGA's 75.49% return.

TOPW

• 1D: -1.52%
• 1M: 3.60%
• YTD: 7.71%
• 6M: -0.67%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

TOPW vs. UGA - Yearly Performance Comparison

	2026 (YTD)	2025
TOPW Roundhill Top WeeklyPay ETF	7.71%	-2.47%
UGA United States Gasoline Fund LP	75.49%	-4.75%

Correlation

The correlation between TOPW 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 (All Time) Calculated using the full available price history since Sep 5, 2025	-0.15

Return for Risk

TOPW vs. UGA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UGA

UGA Risk / Return Rank: 69
UGA Sharpe Ratio Rank: 69
UGA Sortino Ratio Rank: 57
UGA Omega Ratio Rank: 60
UGA Calmar Ratio Rank: 89
UGA Martin Ratio Rank: 71

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.

TOPW vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Top WeeklyPay ETF (TOPW) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TOPW	UGA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.32	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.73	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.12	+0.13

Drawdowns

TOPW vs. UGA - Drawdown Comparison

The maximum TOPW drawdown since its inception was -29.87%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for TOPW and UGA.

Drawdown Indicators

	TOPW	UGA	Difference
Max Drawdown Largest peak-to-trough decline	-29.87%	-86.59%	+56.72%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.88%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.68%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.89%	—
Current Drawdown Current decline from peak	-10.02%	-12.35%	+2.33%
Average Drawdown Average peak-to-trough decline	-12.88%	-36.76%	+23.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.13%	—

Volatility

Volatility by Period

	TOPW	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.66%	—
Volatility (6M) Calculated over the trailing 6-month period	—	30.41%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.36%	35.14%	-7.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.36%	34.38%	-7.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.36%	37.27%	-9.91%

TOPW vs. UGA - Expense Ratio Comparison

TOPW has a 0.99% expense ratio, which is higher than UGA's 0.75% expense ratio.

Dividends

TOPW vs. UGA - Dividend Comparison

TOPW's dividend yield for the trailing twelve months is around 40.33%, while UGA has not paid dividends to shareholders.

Position	TTM	2025
TOPW Roundhill Top WeeklyPay ETF	40.33%	21.52%
UGA United States Gasoline Fund LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both TOPW and UGA in my portfolio?

TOPW 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.

Which ETF is better, TOPW or UGA?

On fees, UGA is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TOPW or UGA?

UGA is cheaper with a 0.75% expense ratio, compared with 0.99% for TOPW.

Which ETF pays a higher dividend yield, TOPW or UGA?

TOPW has the higher dividend yield at 40.33%, compared with 0.00% for UGA.

What is the main difference between TOPW and UGA?

TOPW is categorized as Derivative Income, while UGA is Oil & Gas. TOPW tracks Solactive Roundhill WeeklyPay Universe Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Roundhill Investments and Concierge Technologies. Their fees differ too: 0.99% for TOPW and 0.75% for UGA.