UGA vs. KAPR
UGA (United States Gasoline Fund LP) and KAPR (Innovator Russell 2000 Power Buffer ETF - April) are both exchange-traded funds - UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline, while KAPR is a Defined Outcome fund tracking the Russell 2000 Index. Both are passively managed. Over the past 5 years, UGA returned 25.78%/yr vs 7.81%/yr for KAPR. Their 0.14 correlation means their historical movements had little consistent relationship. UGA charges 0.75%/yr vs 0.79%/yr for KAPR.
Performance
UGA vs. KAPR - Performance Comparison
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Returns By Period
In the year-to-date period, UGA achieves a 91.06% return, which is significantly higher than KAPR's 13.09% 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%
KAPR
- 1D
- -0.03%
- 1M
- 0.08%
- 6M
- 11.66%
- YTD
- 13.09%
- 1Y
- 22.54%
- 3Y*
- 12.02%
- 5Y*
- 7.81%
- 10Y*
- —
- ALL TIME*
- 9.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $147.78K | $281.73K | $305.41K | |
| $6.47M | $5.01M | $4.85M |
UGA vs. KAPR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UGA United States Gasoline Fund LP | 91.06% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | 140.22% |
KAPR Innovator Russell 2000 Power Buffer ETF - April | 13.09% | 7.42% | 12.10% | 15.36% | -8.14% | 2.48% | 18.61% |
Correlation
The correlation between UGA and KAPR 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 (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2020 | 0.14 |
The correlation between UGA and KAPR shifts across timeframes, from -0.22 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UGA vs. KAPR — Risk / Return Rank
UGA
KAPR
UGA vs. KAPR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Gasoline Fund LP (UGA) and Innovator Russell 2000 Power Buffer ETF - April (KAPR). 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 | KAPR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -2.32 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.70 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 4.12 | 8.50 | -4.39 |
| Martin ratioReturn relative to average drawdown | 11.57 | 42.63 | -31.06 |
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Drawdowns
UGA vs. KAPR - Drawdown Comparison
The maximum UGA drawdown since its inception was -86.59%, which is greater than KAPR's maximum drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for UGA and KAPR.
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Drawdown Indicators
| UGA | KAPR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.59% | -16.91% | -69.68% |
Max Drawdown (1Y)Largest decline over 1 year | -20.32% | -2.52% | -17.80% |
Max Drawdown (3Y)Largest decline over 3 years | -26.68% | -16.84% | -9.84% |
Max Drawdown (5Y)Largest decline over 5 years | -38.11% | -16.91% | -21.20% |
Max Drawdown (10Y)Largest decline over 10 years | -75.89% | — | — |
Current DrawdownCurrent decline from peak | -5.63% | -0.36% | -5.27% |
Average DrawdownAverage peak-to-trough decline | -36.53% | -3.83% | -32.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.26% | 0.50% | +6.76% |
Volatility
UGA vs. KAPR - Volatility Comparison
United States Gasoline Fund LP (UGA) has a higher volatility of 11.28% compared to Innovator Russell 2000 Power Buffer ETF - April (KAPR) at 1.52%. This indicates that UGA's price experiences larger fluctuations and is considered to be riskier than KAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UGA | KAPR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.28% | 1.52% | +9.76% |
Volatility (6M)Calculated over the trailing 6-month period | 31.98% | 4.77% | +27.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.11% | 6.53% | +29.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.60% | 11.69% | +22.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.26% | 11.56% | +25.70% |
UGA vs. KAPR - Expense Ratio Comparison
UGA has a 0.75% expense ratio, which is lower than KAPR's 0.79% expense ratio.
Dividends
UGA vs. KAPR - Dividend Comparison
Neither UGA nor KAPR has paid dividends to shareholders.
Frequently Asked Questions
UGA and KAPR 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.
UGA has higher volatility (11.28%) compared to KAPR (1.52%). In terms of maximum drawdown, UGA dropped -86.59% vs KAPR's -16.91%.
On 5-year performance, UGA leads with 25.78% vs 7.81% for KAPR. On fees, UGA is cheaper at 0.75% per year. On volatility, KAPR has been the lower-risk option at 1.52%. 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 25.78% return vs 7.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UGA is cheaper with a 0.75% expense ratio, compared with 0.79% for KAPR.
UGA and KAPR have nearly identical dividend yields, around 0.00%.
UGA is categorized as Oil & Gas, while KAPR is Defined Outcome. UGA tracks Front Month Unleaded Gasoline, while KAPR tracks Russell 2000 Index. They also come from different issuers: Concierge Technologies and Innovator. Their fees differ too: 0.75% for UGA and 0.79% for KAPR.
KAPR currently has the higher Sharpe Ratio (3.28 vs 2.32), 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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