UGA vs. ACVT

Last updated Aug 6, 2026

UGA (United States Gasoline Fund, LP) and ACVT (Advent Convertible Bond ETF) are both exchange-traded funds - UGA is a Oil & Gas fund tracking the Near-Month NYMEX RBOB Gasoline Futures Contract, while ACVT is a Convertible Bonds fund actively managed by Advent. UGA is passively managed, while ACVT is actively managed. Over the past year, UGA returned 71.49% vs 10.04% for ACVT. Their -0.19 correlation means they have often moved in opposite directions in the past. UGA charges 1.02%/yr vs 0.65%/yr for ACVT.

Performance

UGA vs. ACVT - Performance Comparison

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

Returns By Period

In the year-to-date period, UGA achieves a 72.77% return, which is significantly higher than ACVT's 7.14% return.

UGA

• 1D: -0.56%
• 1M: 0.07%
• 6M: 54.03%
• YTD: 72.77%
• 1Y: 71.49%
• 3Y*: 14.87%
• 5Y*: 24.07%
• 10Y*: 16.28%
• ALL TIME*: 4.25%

ACVT

• 1D: -0.14%
• 1M: 0.67%
• 6M: 6.74%
• YTD: 7.14%
• 1Y: 10.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.26%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ACVT Advent Convertible Bond ETF	$1.74K	$1.60K	$23.04K
UGA United States Gasoline Fund, LP	$8.67M	$6.11M	$4.99M

UGA vs. ACVT - Yearly Performance Comparison

	2026 (YTD)	2025
UGA United States Gasoline Fund, LP	72.77%	6.67%
ACVT Advent Convertible Bond ETF	7.14%	8.04%

Correlation

The correlation between UGA and ACVT is -0.22, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.22
Correlation (All Time) Calculated using the full available price history since Apr 30, 2025	-0.19

Return for Risk

UGA vs. ACVT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UGA

UGA Risk / Return Rank: 72
UGA Sharpe Ratio Rank: 76
UGA Sortino Ratio Rank: 66
UGA Omega Ratio Rank: 67
UGA Calmar Ratio Rank: 84
UGA Martin Ratio Rank: 70

ACVT

ACVT Risk / Return Rank: 59
ACVT Sharpe Ratio Rank: 62
ACVT Sortino Ratio Rank: 66
ACVT Omega Ratio Rank: 61
ACVT Calmar Ratio Rank: 51
ACVT Martin Ratio Rank: 55

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UGA vs. ACVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for United States Gasoline Fund, LP (UGA) and Advent Convertible Bond ETF (ACVT). 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.

	UGA	ACVT	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.69	+0.27
Sortino ratio: Return per unit of downside risk	2.47	2.51	-0.04
Omega ratio: Gain probability vs. loss probability	1.32	1.30	+0.02
Calmar ratio: Return relative to maximum drawdown	3.54	2.09	+1.44
Martin ratio: Return relative to average drawdown	9.75	7.47	+2.28

UGA vs. ACVT - Sharpe Ratio Comparison

The current UGA Sharpe Ratio is 1.96, which is comparable to the ACVT Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of UGA and ACVT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UGA vs. ACVT - Drawdown Comparison

The maximum UGA drawdown since its inception was -86.59%, which is greater than ACVT's maximum drawdown of -4.81%. Use the drawdown chart below to compare losses from any high point for UGA and ACVT.

Drawdown Indicators

	UGA	ACVT	Difference
Max Drawdown Largest peak-to-trough decline	-86.59%	-4.81%	-81.78%
Max Drawdown (1Y) Largest decline over 1 year	-20.32%	-4.81%	-15.51%
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	-14.67%	-0.14%	-14.53%
Average Drawdown Average peak-to-trough decline	-36.52%	-0.81%	-35.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.36%	1.35%	+6.01%

Volatility

UGA vs. ACVT - Volatility Comparison

United States Gasoline Fund, LP (UGA) has a higher volatility of 13.00% compared to Advent Convertible Bond ETF (ACVT) at 1.78%. This indicates that UGA's price experiences larger fluctuations and is considered to be riskier than ACVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UGA	ACVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.00%	1.78%	+11.22%
Volatility (6M) Calculated over the trailing 6-month period	32.16%	4.88%	+27.28%
Volatility (1Y) Calculated over the trailing 1-year period	36.60%	5.97%	+30.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.71%	5.79%	+28.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.31%	5.79%	+31.52%

UGA vs. ACVT - Expense Ratio Comparison

UGA has a 1.02% expense ratio, which is higher than ACVT's 0.65% expense ratio.

Dividends

UGA vs. ACVT - Dividend Comparison

UGA has not paid dividends to shareholders, while ACVT's dividend yield for the trailing twelve months is around 1.52%.

Position	TTM	2025
ACVT Advent Convertible Bond ETF	1.52%	1.19%
UGA United States Gasoline Fund, LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both UGA and ACVT in my portfolio?

UGA and ACVT have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UGA or ACVT?

UGA has higher volatility (13.00%) compared to ACVT (1.78%). In terms of maximum drawdown, UGA dropped -86.59% vs ACVT's -4.81%.

Which ETF is better, UGA or ACVT?

On 1-year performance, UGA leads with 71.49% vs 10.04% for ACVT. On fees, ACVT is cheaper at 0.65% per year. On volatility, ACVT has been the lower-risk option at 1.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UGA or ACVT?

Over the 1-year period, UGA has performed better with a 71.49% return vs 10.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UGA or ACVT?

ACVT is cheaper with a 0.65% expense ratio, compared with 1.02% for UGA.

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

ACVT has the higher dividend yield at 1.52%, compared with 0.00% for UGA.

What is the main difference between UGA and ACVT?

UGA is categorized as Oil & Gas, while ACVT is Convertible Bonds. They also come from different issuers: USCF and Advent. Their fees differ too: 1.02% for UGA and 0.65% for ACVT.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (1.96 vs 1.69), 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.