USXF vs. UGA
USXF (iShares ESG Advanced MSCI USA ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - USXF is a Large Cap Growth Equities fund tracking the MSCI USA Choice ESG Screened Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 5 years, USXF returned 15.70%/yr vs 25.10%/yr for UGA. At a 0.07 correlation, their price movements are largely independent. USXF charges 0.10%/yr vs 0.75%/yr for UGA.
Performance
USXF vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, USXF achieves a 20.76% return, which is significantly lower than UGA's 75.49% return.
USXF
- 1D
- -0.51%
- 1M
- 10.32%
- YTD
- 20.76%
- 6M
- 21.06%
- 1Y
- 35.21%
- 3Y*
- 27.38%
- 5Y*
- 15.70%
- 10Y*
- —
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%
USXF vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
USXF iShares ESG Advanced MSCI USA ETF | 20.76% | 16.97% | 26.16% | 31.65% | -21.20% | 27.14% | 24.04% |
UGA United States Gasoline Fund LP | 75.49% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | 22.90% |
Correlation
The correlation between USXF and UGA is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2020 | 0.07 |
The correlation between USXF and UGA shifts across timeframes, from -0.25 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
USXF vs. UGA — Risk / Return Rank
USXF
UGA
USXF vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced MSCI USA ETF (USXF) and United States Gasoline Fund LP (UGA). 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.
| USXF | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.37 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.47 | 5.47 | -2.00 |
| Martin ratioReturn relative to average drawdown | 13.97 | 13.25 | +0.72 |
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
| USXF | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.20 | 2.32 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 0.73 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.03 | 0.12 | +0.91 |
Drawdowns
USXF vs. UGA - Drawdown Comparison
The maximum USXF drawdown since its inception was -29.54%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for USXF and UGA.
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Drawdown Indicators
| USXF | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.54% | -86.59% | +57.05% |
Max Drawdown (1Y)Largest decline over 1 year | -10.19% | -14.88% | +4.69% |
Max Drawdown (3Y)Largest decline over 3 years | -20.93% | -26.68% | +5.75% |
Max Drawdown (5Y)Largest decline over 5 years | -29.54% | -38.11% | +8.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -0.51% | -12.35% | +11.84% |
Average DrawdownAverage peak-to-trough decline | -6.42% | -36.76% | +30.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 6.13% | -3.60% |
Volatility
USXF vs. UGA - Volatility Comparison
The current volatility for iShares ESG Advanced MSCI USA ETF (USXF) is 5.41%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that USXF experiences smaller price fluctuations and is considered to be less risky than UGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USXF | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.41% | 11.66% | -6.25% |
Volatility (6M)Calculated over the trailing 6-month period | 12.82% | 30.41% | -17.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.13% | 35.14% | -19.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.55% | 34.38% | -14.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.18% | 37.27% | -18.09% |
USXF vs. UGA - Expense Ratio Comparison
USXF has a 0.10% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
USXF vs. UGA - Dividend Comparison
USXF's dividend yield for the trailing twelve months is around 0.80%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USXF iShares ESG Advanced MSCI USA ETF | 0.80% | 0.93% | 1.00% | 1.21% | 1.39% | 0.86% | 0.58% |
Frequently Asked Questions
USXF and UGA have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.66%) compared to USXF (5.41%). In terms of maximum drawdown, USXF dropped -29.54% vs UGA's -86.59%.
On 5-year performance, UGA leads with 25.10% vs 15.70% for USXF. On fees, USXF is cheaper at 0.10% per year. On volatility, USXF has been the lower-risk option at 5.41%. 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 25.10% return vs 15.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USXF is cheaper with a 0.10% expense ratio, compared with 0.75% for UGA.
USXF has the higher dividend yield at 0.80%, compared with 0.00% for UGA.
USXF is categorized as Large Cap Growth Equities, while UGA is Oil & Gas. USXF tracks MSCI USA Choice ESG Screened Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.10% for USXF and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (2.32 vs 2.20), 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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