TRTY vs. UGA
TRTY (Cambria Trinity ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - TRTY is a Tactical Allocation fund tracking the Cambria Trinity Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 5 years, TRTY returned 5.67%/yr vs 22.69%/yr for UGA. At a 0.29 correlation, their price movements are largely independent. TRTY charges 0.44%/yr vs 0.75%/yr for UGA.
Performance
TRTY vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, TRTY achieves a 6.97% return, which is significantly lower than UGA's 64.09% return.
TRTY
- 1D
- -1.75%
- 1M
- -2.37%
- YTD
- 6.97%
- 6M
- 6.31%
- 1Y
- 19.33%
- 3Y*
- 10.40%
- 5Y*
- 5.67%
- 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%
TRTY vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TRTY Cambria Trinity ETF | 6.97% | 16.35% | 3.89% | 3.97% | -3.30% | 15.73% | 1.68% | 8.36% | -5.78% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -33.92% |
Correlation
The correlation between TRTY and UGA is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2018 | 0.29 |
The correlation between TRTY and UGA shifts across timeframes, from -0.09 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TRTY vs. UGA — Risk / Return Rank
TRTY
UGA
TRTY vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cambria Trinity ETF (TRTY) 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.
| TRTY | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.30 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.54 | 3.17 | +0.37 |
| Martin ratioReturn relative to average drawdown | 13.89 | 9.39 | +4.50 |
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Drawdowns
TRTY vs. UGA - Drawdown Comparison
The maximum TRTY drawdown since its inception was -22.35%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for TRTY and UGA.
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Drawdown Indicators
| TRTY | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.35% | -86.59% | +64.24% |
Max Drawdown (1Y)Largest decline over 1 year | -5.49% | -18.96% | +13.47% |
Max Drawdown (3Y)Largest decline over 3 years | -9.25% | -26.68% | +17.43% |
Max Drawdown (5Y)Largest decline over 5 years | -13.72% | -38.11% | +24.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -3.45% | -18.05% | +14.60% |
Average DrawdownAverage peak-to-trough decline | -4.15% | -36.69% | +32.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 6.43% | -5.04% |
Volatility
TRTY vs. UGA - Volatility Comparison
The current volatility for Cambria Trinity ETF (TRTY) is 3.43%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that TRTY 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
| TRTY | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.43% | 9.24% | -5.81% |
Volatility (6M)Calculated over the trailing 6-month period | 8.79% | 30.57% | -21.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.05% | 35.22% | -25.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.61% | 34.45% | -23.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.43% | 37.22% | -26.79% |
TRTY vs. UGA - Expense Ratio Comparison
TRTY has a 0.44% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
TRTY vs. UGA - Dividend Comparison
TRTY's dividend yield for the trailing twelve months is around 3.10%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
TRTY Cambria Trinity ETF | 3.10% | 2.86% | 3.55% | 3.24% | 5.17% | 4.52% | 1.99% | 2.64% | 1.07% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TRTY and UGA have a correlation of -0.09, 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 TRTY (3.43%). In terms of maximum drawdown, TRTY dropped -22.35% vs UGA's -86.59%.
On 5-year performance, UGA leads with 22.69% vs 5.67% for TRTY. On fees, TRTY is cheaper at 0.44% per year. On volatility, TRTY has been the lower-risk option at 3.43%. 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 5.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TRTY is cheaper with a 0.44% expense ratio, compared with 0.75% for UGA.
TRTY has the higher dividend yield at 3.10%, compared with 0.00% for UGA.
TRTY is categorized as Tactical Allocation, while UGA is Oil & Gas. TRTY tracks Cambria Trinity Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Cambria and Concierge Technologies. Their fees differ too: 0.44% for TRTY and 0.75% for UGA.
TRTY currently has the higher Sharpe Ratio (1.93 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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