UGA vs. PBOG
UGA (United States Gasoline Fund LP) and PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) are both Oil & Gas funds - UGA tracks the Front Month Unleaded Gasoline while PBOG tracks the BITA Global Oil & Gas Select Index. Both are passively managed. A 0.66 correlation means they provide meaningful diversification when combined. UGA charges 0.75%/yr vs 0.13%/yr for PBOG.
Performance
UGA vs. PBOG - Performance Comparison
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Returns By Period
In the year-to-date period, UGA achieves a 75.49% return, which is significantly higher than PBOG's 32.22% 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%
PBOG
- 1D
- 1.23%
- 1M
- -2.32%
- YTD
- 32.22%
- 6M
- 29.70%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UGA vs. PBOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
UGA United States Gasoline Fund LP | 75.49% | -4.90% |
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF | 32.22% | 1.62% |
Correlation
The correlation between UGA and PBOG is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025 | 0.66 |
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Return for Risk
UGA vs. PBOG — Risk / Return Rank
UGA
PBOG
UGA vs. PBOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Gasoline Fund LP (UGA) and Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). 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 | PBOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.37 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 5.47 | — | — |
| Martin ratioReturn relative to average drawdown | 13.25 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UGA | PBOG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.32 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 3.31 | -3.19 |
Drawdowns
UGA vs. PBOG - Drawdown Comparison
The maximum UGA drawdown since its inception was -86.59%, which is greater than PBOG's maximum drawdown of -11.45%. Use the drawdown chart below to compare losses from any high point for UGA and PBOG.
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Drawdown Indicators
| UGA | PBOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.59% | -11.45% | -75.14% |
Max Drawdown (1Y)Largest decline over 1 year | -14.88% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -26.68% | — | — |
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 | -12.35% | -6.81% | -5.54% |
Average DrawdownAverage peak-to-trough decline | -36.76% | -3.10% | -33.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.13% | — | — |
Volatility
UGA vs. PBOG - Volatility Comparison
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Volatility by Period
| UGA | PBOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.66% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 30.41% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 35.14% | 23.67% | +11.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.38% | 23.67% | +10.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.27% | 23.67% | +13.60% |
UGA vs. PBOG - Expense Ratio Comparison
UGA has a 0.75% expense ratio, which is higher than PBOG's 0.13% expense ratio.
Dividends
UGA vs. PBOG - Dividend Comparison
UGA has not paid dividends to shareholders, while PBOG's dividend yield for the trailing twelve months is around 0.13%.
| Position | TTM | 2025 |
|---|---|---|
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF | 0.13% | 0.17% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% |
Frequently Asked Questions
UGA and PBOG have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBOG is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBOG is cheaper with a 0.13% expense ratio, compared with 0.75% for UGA.
PBOG has the higher dividend yield at 0.13%, compared with 0.00% for UGA.
UGA tracks Front Month Unleaded Gasoline, while PBOG tracks BITA Global Oil & Gas Select Index. They also come from different issuers: Concierge Technologies and Portfolio Building Blocks. Their fees differ too: 0.75% for UGA and 0.13% for PBOG.
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