VEMY vs. UGA
VEMY (Virtus Stone Harbor Emerging Markets High Yield Bond ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - VEMY is a Emerging Markets Bonds fund actively managed by Virtus, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. VEMY is actively managed, while UGA is passively managed. Over the past 3 years, VEMY returned 15.52%/yr vs 20.80%/yr for UGA. At a correlation of -0.04, they often move in opposite directions. VEMY charges 0.58%/yr vs 0.75%/yr for UGA.
Performance
VEMY vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, VEMY achieves a 5.93% return, which is significantly lower than UGA's 70.69% return.
VEMY
- 1D
- 0.03%
- 1M
- 1.22%
- YTD
- 5.93%
- 6M
- 6.67%
- 1Y
- 18.43%
- 3Y*
- 15.52%
- 5Y*
- —
- 10Y*
- —
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%
VEMY vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF | 5.93% | 15.27% | 13.48% | 14.45% | -1.08% |
UGA United States Gasoline Fund LP | 70.69% | -2.00% | 3.77% | 1.27% | 14.41% |
Correlation
The correlation between VEMY and UGA is -0.30, 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 | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2022 | -0.04 |
Over the past year, the inverse relationship between VEMY and UGA has strengthened: their correlation has moved from -0.04 to -0.30, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
VEMY vs. UGA — Risk / Return Rank
VEMY
UGA
VEMY vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) 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.
| VEMY | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.37 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 4.62 | 5.37 | -0.75 |
| Martin ratioReturn relative to average drawdown | 21.97 | 12.86 | +9.11 |
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
| VEMY | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.06 | 2.27 | +0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.71 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.83 | 0.12 | +1.71 |
Drawdowns
VEMY vs. UGA - Drawdown Comparison
The maximum VEMY drawdown since its inception was -8.77%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for VEMY and UGA.
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Drawdown Indicators
| VEMY | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.77% | -86.59% | +77.82% |
Max Drawdown (1Y)Largest decline over 1 year | -4.00% | -14.88% | +10.88% |
Max Drawdown (3Y)Largest decline over 3 years | -6.57% | -26.68% | +20.11% |
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 | -0.14% | -14.75% | +14.61% |
Average DrawdownAverage peak-to-trough decline | -1.30% | -36.76% | +35.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 6.20% | -5.36% |
Volatility
VEMY vs. UGA - Volatility Comparison
The current volatility for Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) is 1.54%, while United States Gasoline Fund LP (UGA) has a volatility of 11.64%. This indicates that VEMY 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
| VEMY | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 11.64% | -10.10% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 30.48% | -25.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.05% | 35.27% | -29.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.63% | 34.40% | -26.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.63% | 37.27% | -29.64% |
VEMY vs. UGA - Expense Ratio Comparison
VEMY has a 0.58% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
VEMY vs. UGA - Dividend Comparison
VEMY's dividend yield for the trailing twelve months is around 8.37%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF | 8.37% | 8.89% | 10.28% | 9.55% |
Frequently Asked Questions
VEMY and UGA have a correlation of -0.30, 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 VEMY (1.54%). In terms of maximum drawdown, VEMY dropped -8.77% vs UGA's -86.59%.
On 3-year performance, UGA leads with 20.80% vs 15.52% for VEMY. On fees, VEMY is cheaper at 0.58% per year. On volatility, VEMY has been the lower-risk option at 1.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UGA has performed better with a 20.80% return vs 15.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VEMY is cheaper with a 0.58% expense ratio, compared with 0.75% for UGA.
VEMY has the higher dividend yield at 8.37%, compared with 0.00% for UGA.
VEMY is categorized as Emerging Markets Bonds, while UGA is Oil & Gas. They also come from different issuers: Virtus and Concierge Technologies. Their fees differ too: 0.58% for VEMY and 0.75% for UGA.
VEMY currently has the higher Sharpe Ratio (3.06 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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