UGA vs. DFSD
UGA (United States Gasoline Fund LP) and DFSD (Dimensional Short-Duration Fixed Income ETF) are both exchange-traded funds - UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline, while DFSD is a Short-Term Bond fund actively managed by Dimensional. UGA is passively managed, while DFSD is actively managed. Over the past 3 years, UGA returned 17.55%/yr vs 5.18%/yr for DFSD. Their -0.16 correlation means they have often moved in opposite directions in the past. UGA charges 0.75%/yr vs 0.16%/yr for DFSD.
Performance
UGA vs. DFSD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, UGA achieves a 91.06% return, which is significantly higher than DFSD's 0.79% return.
UGA
- 1D
- -0.01%
- 1M
- 14.56%
- 6M
- 70.02%
- YTD
- 91.06%
- 1Y
- 88.12%
- 3Y*
- 17.55%
- 5Y*
- 25.78%
- 10Y*
- 18.03%
- ALL TIME*
- 4.82%
DFSD
- 1D
- -0.06%
- 1M
- -0.23%
- 6M
- 0.35%
- YTD
- 0.79%
- 1Y
- 2.80%
- 3Y*
- 5.18%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.91M | $26.60M | $25.77M | |
| $6.47M | $5.01M | $4.85M |
UGA vs. DFSD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
UGA United States Gasoline Fund LP | 91.06% | -2.00% | 3.77% | 1.27% | 46.34% | -2.22% |
DFSD Dimensional Short-Duration Fixed Income ETF | 0.79% | 6.59% | 4.60% | 6.09% | -5.87% | -0.05% |
Correlation
The correlation between UGA and DFSD is -0.41, 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. | -0.41 |
Correlation (3Y) Balances recent behavior with more history. | -0.26 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2021 | -0.16 |
Over the past year, the inverse relationship between UGA and DFSD has strengthened: their correlation has moved from -0.16 to -0.41, meaning they now move in opposite directions more often than their long-term average.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
UGA vs. DFSD — Risk / Return Rank
UGA
DFSD
UGA vs. DFSD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Gasoline Fund LP (UGA) and Dimensional Short-Duration Fixed Income ETF (DFSD). 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 | DFSD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.32 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.12 | 2.27 | +1.85 |
| Martin ratioReturn relative to average drawdown | 11.57 | 8.33 | +3.24 |
Loading charts...
Drawdowns
UGA vs. DFSD - Drawdown Comparison
The maximum UGA drawdown since its inception was -86.59%, which is greater than DFSD's maximum drawdown of -8.45%. Use the drawdown chart below to compare losses from any high point for UGA and DFSD.
Loading charts...
Drawdown Indicators
| UGA | DFSD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.59% | -8.45% | -78.14% |
Max Drawdown (1Y)Largest decline over 1 year | -20.32% | -1.47% | -18.85% |
Max Drawdown (3Y)Largest decline over 3 years | -26.68% | -1.47% | -25.21% |
Max Drawdown (5Y)Largest decline over 5 years | -38.11% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -75.89% | — | — |
Current DrawdownCurrent decline from peak | -5.63% | -0.35% | -5.28% |
Average DrawdownAverage peak-to-trough decline | -36.53% | -2.01% | -34.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.26% | 0.40% | +6.86% |
Volatility
UGA vs. DFSD - Volatility Comparison
United States Gasoline Fund LP (UGA) has a higher volatility of 11.28% compared to Dimensional Short-Duration Fixed Income ETF (DFSD) at 0.52%. This indicates that UGA's price experiences larger fluctuations and is considered to be riskier than DFSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| UGA | DFSD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.28% | 0.52% | +10.76% |
Volatility (6M)Calculated over the trailing 6-month period | 31.98% | 1.59% | +30.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.11% | 1.94% | +34.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.60% | 2.75% | +31.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.26% | 2.75% | +34.51% |
UGA vs. DFSD - Expense Ratio Comparison
UGA has a 0.75% expense ratio, which is higher than DFSD's 0.16% expense ratio.
Dividends
UGA vs. DFSD - Dividend Comparison
UGA has not paid dividends to shareholders, while DFSD's dividend yield for the trailing twelve months is around 4.59%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DFSD Dimensional Short-Duration Fixed Income ETF | 4.59% | 4.12% | 4.81% | 3.89% | 2.12% | 0.11% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UGA and DFSD have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.28%) compared to DFSD (0.52%). In terms of maximum drawdown, UGA dropped -86.59% vs DFSD's -8.45%.
On 3-year performance, UGA leads with 17.55% vs 5.18% for DFSD. On fees, DFSD is cheaper at 0.16% per year. On volatility, DFSD has been the lower-risk option at 0.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UGA has performed better with a 17.55% return vs 5.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DFSD is cheaper with a 0.16% expense ratio, compared with 0.75% for UGA.
DFSD has the higher dividend yield at 4.59%, compared with 0.00% for UGA.
UGA is categorized as Oil & Gas, while DFSD is Short-Term Bond. They also come from different issuers: Concierge Technologies and Dimensional. Their fees differ too: 0.75% for UGA and 0.16% for DFSD.
UGA currently has the higher Sharpe Ratio (2.32 vs 1.71), 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.
Find the right allocation for UGA and DFSD
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