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UGA vs. IGSB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UGA vs. IGSB

Last updated Jun 5, 2026

UGA (United States Gasoline Fund LP) and IGSB (iShares Short-Term Corporate Bond ETF) are both exchange-traded funds - UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline, while IGSB is a Corporate Bonds fund tracking the ICE BofAML 1-5 Year US Corporate Index. Both are passively managed. Over the past 10 years, UGA returned 14.27%/yr vs 2.75%/yr for IGSB. At a correlation of -0.03, they often move in opposite directions. UGA charges 0.75%/yr vs 0.06%/yr for IGSB.

Performance

UGA vs. IGSB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in United States Gasoline Fund LP (UGA) and iShares Short-Term Corporate Bond ETF (IGSB). 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 70.69% return, which is significantly higher than IGSB's 0.79% return. Over the past 10 years, UGA has outperformed IGSB with an annualized return of 14.27%, while IGSB has yielded a comparatively lower 2.75% annualized return.

UGA

1D
-2.73%
1M
-12.25%
YTD
70.69%
6M
59.72%
1Y
79.48%
3Y*
20.80%
5Y*
24.41%
10Y*
14.27%

IGSB

1D
0.08%
1M
0.27%
YTD
0.79%
6M
1.18%
1Y
4.52%
3Y*
5.69%
5Y*
2.44%
10Y*
2.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UGA vs. IGSB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UGA
United States Gasoline Fund LP		70.69%-2.00%3.77%1.27%46.34%68.49%-24.88%41.25%-28.07%1.69%
IGSB
iShares Short-Term Corporate Bond ETF		0.79%6.96%4.97%6.40%-5.63%-0.56%5.37%7.11%1.25%1.27%

Correlation

The correlation between UGA and IGSB is -0.39, 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 (1Y)
Calculated over the trailing 1-year period

-0.39

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

-0.19

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

-0.10

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

-0.07

Correlation (All Time)
Calculated using the full available price history since Feb 29, 2008

-0.03

Over the past year, the inverse relationship between UGA and IGSB has strengthened: their correlation has moved from -0.03 to -0.39, 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.

United States Gasoline Fund LP

iShares Short-Term Corporate Bond ETF

Often compared with UGA:
UGA vs. URAUGA vs. FCGUGA vs. QQQUGA vs. VOOUGA vs. USOUGA vs. SPYUGA vs. FNGS
Often compared with IGSB:
IGSB vs. VCSHIGSB vs. LQDIGSB vs. SPSBIGSB vs. IGIBIGSB vs. SLQDIGSB vs. FLDRIGSB vs. AGG

Return for Risk

UGA vs. IGSB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UGA
UGA Risk / Return Rank: 7070
Overall Rank
UGA Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
UGA Sortino Ratio Rank: 5858
Sortino Ratio Rank
UGA Omega Ratio Rank: 6262
Omega Ratio Rank
UGA Calmar Ratio Rank: 8989
Calmar Ratio Rank
UGA Martin Ratio Rank: 7070
Martin Ratio Rank
IGSB
IGSB Risk / Return Rank: 7474
Overall Rank
IGSB Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
IGSB Sortino Ratio Rank: 8383
Sortino Ratio Rank
IGSB Omega Ratio Rank: 8080
Omega Ratio Rank
IGSB Calmar Ratio Rank: 6464
Calmar Ratio Rank
IGSB Martin Ratio Rank: 7070
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. IGSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for United States Gasoline Fund LP (UGA) and iShares Short-Term Corporate Bond ETF (IGSB). 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.

UGAIGSBDifference
Sharpe ratioReturn per unit of total volatility
2.27
2.38

-0.11

Sortino ratioReturn per unit of downside risk
2.71
3.68

-0.97

Omega ratioGain probability vs. loss probability

1.37

1.47

-0.10

Calmar ratioReturn relative to maximum drawdown

5.37

3.11

+2.26

Martin ratioReturn relative to average drawdown

12.86

12.72

+0.15

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UGA vs. IGSB - Sharpe Ratio Comparison

The current UGA Sharpe Ratio is 2.27, which is comparable to the IGSB Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of UGA and IGSB, 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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Sharpe Ratios by Period

UGAIGSBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.27

2.38

-0.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.71

0.84

-0.12

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.38

0.80

-0.41

Sharpe Ratio (All Time)

Calculated using the full available price history

0.12

0.70

-0.59

Drawdowns

UGA vs. IGSB - Drawdown Comparison

The maximum UGA drawdown since its inception was -86.59%, which is greater than IGSB's maximum drawdown of -13.38%. Use the drawdown chart below to compare losses from any high point for UGA and IGSB.

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Drawdown Indicators

UGAIGSBDifference

Max Drawdown

Largest peak-to-trough decline

-86.59%

-13.38%

-73.21%

Max Drawdown (1Y)

Largest decline over 1 year

-14.88%

-1.46%

-13.42%

Max Drawdown (3Y)

Largest decline over 3 years

-26.68%

-1.46%

-25.22%

Max Drawdown (5Y)

Largest decline over 5 years

-38.11%

-9.46%

-28.65%

Max Drawdown (10Y)

Largest decline over 10 years

-75.89%

-13.38%

-62.51%

Current Drawdown

Current decline from peak

-14.75%

-0.24%

-14.51%

Average Drawdown

Average peak-to-trough decline

-36.76%

-0.85%

-35.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.20%

0.36%

+5.84%

Volatility

UGA vs. IGSB - Volatility Comparison

United States Gasoline Fund LP (UGA) has a higher volatility of 11.64% compared to iShares Short-Term Corporate Bond ETF (IGSB) at 0.57%. This indicates that UGA's price experiences larger fluctuations and is considered to be riskier than IGSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UGAIGSBDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.64%

0.57%

+11.07%

Volatility (6M)

Calculated over the trailing 6-month period

30.48%

1.41%

+29.07%

Volatility (1Y)

Calculated over the trailing 1-year period

35.27%

1.93%

+33.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

34.40%

2.93%

+31.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

37.27%

3.46%

+33.81%

UGA vs. IGSB - Expense Ratio Comparison

UGA has a 0.75% expense ratio, which is higher than IGSB's 0.06% expense ratio.

Dividends

UGA vs. IGSB - Dividend Comparison

UGA has not paid dividends to shareholders, while IGSB's dividend yield for the trailing twelve months is around 4.57%.

PositionTTM20252024202320222021202020192018201720162015
IGSB
iShares Short-Term Corporate Bond ETF		4.57%4.44%4.02%3.26%2.07%1.82%2.36%3.06%2.46%1.65%1.45%1.18%
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 IGSB have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

UGA has higher volatility (11.64%) compared to IGSB (0.57%). In terms of maximum drawdown, UGA dropped -86.59% vs IGSB's -13.38%.

On 10-year performance, UGA leads with 14.27% vs 2.75% for IGSB. On fees, IGSB is cheaper at 0.06% per year. On volatility, IGSB has been the lower-risk option at 0.57%. 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 14.27% return vs 2.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IGSB is cheaper with a 0.06% expense ratio, compared with 0.75% for UGA.

IGSB has the higher dividend yield at 4.57%, compared with 0.00% for UGA.

UGA is categorized as Oil & Gas, while IGSB is Corporate Bonds. UGA tracks Front Month Unleaded Gasoline, while IGSB tracks ICE BofAML 1-5 Year US Corporate Index. They also come from different issuers: Concierge Technologies and iShares. Their fees differ too: 0.75% for UGA and 0.06% for IGSB.

IGSB currently has the higher Sharpe Ratio (2.38 vs 2.27), 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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