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UGA vs. FCG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

UGA vs. FCG - Performance Comparison

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

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Returns By Period

In the year-to-date period, UGA achieves a 65.95% return, which is significantly higher than FCG's 17.24% return. Over the past 10 years, UGA has outperformed FCG with an annualized return of 14.44%, while FCG has yielded a comparatively lower 3.88% annualized return.


UGA

1D
0.15%
1M
-11.11%
YTD
65.95%
6M
62.61%
1Y
52.27%
3Y*
19.40%
5Y*
23.05%
10Y*
14.44%

FCG

1D
1.64%
1M
-9.95%
YTD
17.24%
6M
18.20%
1Y
12.39%
3Y*
10.11%
5Y*
14.16%
10Y*
3.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UGA vs. FCG - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
UGA
United States Gasoline Fund LP
65.95%-2.00%3.77%1.27%46.34%68.49%-24.88%41.25%-28.07%1.69%
FCG
First Trust Natural Gas ETF
17.24%-2.28%4.16%2.55%47.24%98.49%-23.20%-15.76%-34.81%-11.38%

Correlation

The correlation between UGA and FCG is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.62

Correlation (3Y)
Calculated over the trailing 3-year period

0.55

Correlation (5Y)
Calculated over the trailing 5-year period

0.57

Correlation (10Y)
Calculated over the trailing 10-year period

0.54

Correlation (All Time)
Calculated using the full available price history since Feb 28, 2008

0.55

The correlation between UGA and FCG has been stable across timeframes, ranging from 0.54 to 0.62 - a consistent structural relationship.

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Return for Risk

UGA vs. FCG — Risk / Return Rank

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

UGA
UGA Risk / Return Rank: 4646
Overall Rank
UGA Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
UGA Sortino Ratio Rank: 4040
Sortino Ratio Rank
UGA Omega Ratio Rank: 4141
Omega Ratio Rank
UGA Calmar Ratio Rank: 5858
Calmar Ratio Rank
UGA Martin Ratio Rank: 5050
Martin Ratio Rank

FCG
FCG Risk / Return Rank: 1616
Overall Rank
FCG Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
FCG Sortino Ratio Rank: 1515
Sortino Ratio Rank
FCG Omega Ratio Rank: 1515
Omega Ratio Rank
FCG Calmar Ratio Rank: 1717
Calmar Ratio Rank
FCG Martin Ratio Rank: 1919
Martin Ratio Rank
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.

UGA vs. FCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for United States Gasoline Fund LP (UGA) and First Trust Natural Gas ETF (FCG). 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.


UGAFCGDifference
Sharpe ratioReturn per unit of total volatility

+1.04

Sortino ratioReturn per unit of downside risk

+1.22

Omega ratioGain probability vs. loss probability

1.26

1.09

+0.17

Calmar ratioReturn relative to maximum drawdown

2.77

0.70

+2.07

Martin ratioReturn relative to average drawdown

8.29

2.05

+6.24

UGA vs. FCG - Sharpe Ratio Comparison

The current UGA Sharpe Ratio is 1.49, which is higher than the FCG Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of UGA and FCG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Drawdowns

UGA vs. FCG - Drawdown Comparison

The maximum UGA drawdown since its inception was -86.59%, smaller than the maximum FCG drawdown of -97.20%. Use the drawdown chart below to compare losses from any high point for UGA and FCG.


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Drawdown Indicators


UGAFCGDifference

Max Drawdown

Largest peak-to-trough decline

-86.59%

-97.20%

+10.61%

Max Drawdown (1Y)

Largest decline over 1 year

-18.96%

-17.90%

-1.06%

Max Drawdown (3Y)

Largest decline over 3 years

-26.68%

-29.44%

+2.76%

Max Drawdown (5Y)

Largest decline over 5 years

-38.11%

-33.33%

-4.78%

Max Drawdown (10Y)

Largest decline over 10 years

-75.89%

-85.04%

+9.15%

Current Drawdown

Current decline from peak

-17.12%

-76.36%

+59.24%

Average Drawdown

Average peak-to-trough decline

-36.70%

-65.39%

+28.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.05%

6.68%

+0.37%

Volatility

UGA vs. FCG - Volatility Comparison

United States Gasoline Fund LP (UGA) and First Trust Natural Gas ETF (FCG) have volatilities of 9.26% and 9.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


UGAFCGDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.26%

9.37%

-0.11%

Volatility (6M)

Calculated over the trailing 6-month period

30.54%

20.54%

+10.00%

Volatility (1Y)

Calculated over the trailing 1-year period

35.27%

27.35%

+7.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

34.45%

33.43%

+1.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

37.25%

38.32%

-1.07%

UGA vs. FCG - Expense Ratio Comparison

UGA has a 0.75% expense ratio, which is higher than FCG's 0.60% expense ratio.


Dividends

UGA vs. FCG - Dividend Comparison

UGA has not paid dividends to shareholders, while FCG's dividend yield for the trailing twelve months is around 2.34%.


PositionTTM20252024202320222021202020192018201720162015
FCG
First Trust Natural Gas ETF
2.34%2.86%2.76%3.25%3.04%1.73%3.82%2.87%1.46%1.56%1.70%4.79%
UGA
United States Gasoline Fund LP
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions


UGA and FCG have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FCG has higher volatility (9.37%) compared to UGA (9.26%). In terms of maximum drawdown, UGA dropped -86.59% vs FCG's -97.20%.

On 10-year performance, UGA leads with 14.44% vs 3.88% for FCG. On fees, FCG is cheaper at 0.60% per year. On volatility, UGA has been the lower-risk option at 9.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, UGA has performed better with a 14.44% return vs 3.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FCG is cheaper with a 0.60% expense ratio, compared with 0.75% for UGA.

FCG has the higher dividend yield at 2.34%, compared with 0.00% for UGA.

UGA is categorized as Oil & Gas, while FCG is Energy Equities. UGA tracks Front Month Unleaded Gasoline, while FCG tracks ISE-Revere Natural Gas Index. They also come from different issuers: Concierge Technologies and First Trust. Their fees differ too: 0.75% for UGA and 0.60% for FCG.

UGA currently has the higher Sharpe Ratio (1.49 vs 0.46), 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.

Portfolio Optimizer

Find the right allocation for UGA and FCG

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