UGA vs. MPC

Last updated Jun 4, 2026

UGA (United States Gasoline Fund LP) is Oil & Gas fund tracking the Front Month Unleaded Gasoline, while MPC (Marathon Petroleum Corporation) is a stock. Over the past 10 years, UGA returned 14.43%/yr vs 26.16%/yr for MPC. At a 0.41 correlation, their price movements are largely independent.

Performance

UGA vs. MPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in United States Gasoline Fund LP (UGA) and Marathon Petroleum Corporation (MPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UGA achieves a 75.49% return, which is significantly higher than MPC's 65.76% return. Over the past 10 years, UGA has underperformed MPC with an annualized return of 14.43%, while MPC has yielded a comparatively higher 26.16% annualized return.

UGA

• 1D: -0.19%
• 1M: -12.35%
• YTD: 75.49%
• 6M: 64.35%
• 1Y: 80.94%
• 3Y*: 22.21%
• 5Y*: 25.10%
• 10Y*: 14.43%

MPC

• 1D: 1.58%
• 1M: 6.21%
• YTD: 65.76%
• 6M: 42.31%
• 1Y: 68.20%
• 3Y*: 37.67%
• 5Y*: 36.42%
• 10Y*: 26.16%

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

UGA vs. MPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UGA United States Gasoline Fund LP	75.49%	-2.00%	3.77%	1.27%	46.34%	68.49%	-24.88%	41.25%	-28.07%	1.69%
MPC Marathon Petroleum Corporation	65.76%	19.17%	-4.06%	30.46%	86.62%	61.00%	-27.38%	6.05%	-8.23%	34.78%

Correlation

The correlation between UGA and MPC is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jul 5, 2011	0.41

Return for Risk

UGA vs. MPC — Risk / Return Rank

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

UGA

UGA Risk / Return Rank: 69
UGA Sharpe Ratio Rank: 69
UGA Sortino Ratio Rank: 57
UGA Omega Ratio Rank: 60
UGA Calmar Ratio Rank: 89
UGA Martin Ratio Rank: 71

MPC

MPC Risk / Return Rank: 86
MPC Sharpe Ratio Rank: 89
MPC Sortino Ratio Rank: 84
MPC Omega Ratio Rank: 85
MPC Calmar Ratio Rank: 86
MPC Martin Ratio Rank: 86

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. MPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for United States Gasoline Fund LP (UGA) and Marathon Petroleum Corporation (MPC). 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.

	UGA	MPC	Difference
Sharpe ratio: Return per unit of total volatility	2.32	2.18	+0.14
Sortino ratio: Return per unit of downside risk	2.75	2.73	+0.03
Omega ratio: Gain probability vs. loss probability	1.37	1.36	+0.01
Calmar ratio: Return relative to maximum drawdown	5.47	3.74	+1.73
Martin ratio: Return relative to average drawdown	13.25	9.89	+3.36
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. MPC - Sharpe Ratio Comparison

The current UGA Sharpe Ratio is 2.32, which is comparable to the MPC Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of UGA and MPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UGA	MPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	2.18	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	1.11	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.65	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.56	-0.44

Drawdowns

UGA vs. MPC - Drawdown Comparison

The maximum UGA drawdown since its inception was -86.59%, which is greater than MPC's maximum drawdown of -79.67%. Use the drawdown chart below to compare losses from any high point for UGA and MPC.

Drawdown Indicators

	UGA	MPC	Difference
Max Drawdown Largest peak-to-trough decline	-86.59%	-79.67%	-6.92%
Max Drawdown (1Y) Largest decline over 1 year	-14.88%	-18.33%	+3.45%
Max Drawdown (3Y) Largest decline over 3 years	-26.68%	-44.75%	+18.07%
Max Drawdown (5Y) Largest decline over 5 years	-38.11%	-44.75%	+6.64%
Max Drawdown (10Y) Largest decline over 10 years	-75.89%	-79.67%	+3.78%
Current Drawdown Current decline from peak	-12.35%	0.00%	-12.35%
Average Drawdown Average peak-to-trough decline	-36.76%	-17.36%	-19.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.13%	6.93%	-0.80%

Volatility

UGA vs. MPC - Volatility Comparison

United States Gasoline Fund LP (UGA) and Marathon Petroleum Corporation (MPC) have volatilities of 11.66% and 11.31%, 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.

Volatility by Period

	UGA	MPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.66%	11.31%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	30.41%	25.81%	+4.60%
Volatility (1Y) Calculated over the trailing 1-year period	35.14%	31.50%	+3.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.38%	33.04%	+1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.27%	40.26%	-2.99%

Dividends

UGA vs. MPC - Dividend Comparison

UGA has not paid dividends to shareholders, while MPC's dividend yield for the trailing twelve months is around 1.46%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MPC Marathon Petroleum Corporation	1.46%	2.29%	2.43%	2.07%	2.14%	3.63%	5.61%	3.52%	3.12%	2.30%	2.70%	2.20%
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

Can I hold both UGA and MPC in my portfolio?

UGA and MPC have a correlation of 0.49, 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 MPC?

UGA has higher volatility (11.66%) compared to MPC (11.31%). In terms of maximum drawdown, UGA dropped -86.59% vs MPC's -79.67%.

Which has better risk-adjusted returns?

UGA currently has the higher Sharpe Ratio (2.32 vs 2.18), 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.