PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
VOX vs. UGA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VOX vs. UGA

Last updated Jun 4, 2026

VOX (Vanguard Communication Services ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - VOX is a Technology Equities fund tracking the MSCI US Investable Market Telecommunication Services 25/50 Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, VOX returned 9.30%/yr vs 14.43%/yr for UGA. At a 0.20 correlation, their price movements are largely independent. VOX charges 0.10%/yr vs 0.75%/yr for UGA.

Performance

VOX vs. UGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Communication Services ETF (VOX) and United States Gasoline Fund LP (UGA). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, VOX achieves a -1.38% return, which is significantly lower than UGA's 75.49% return. Over the past 10 years, VOX has underperformed UGA with an annualized return of 9.30%, while UGA has yielded a comparatively higher 14.43% annualized return.

VOX

1D
-0.84%
1M
-2.77%
YTD
-1.38%
6M
0.47%
1Y
20.55%
3Y*
24.02%
5Y*
7.58%
10Y*
9.30%

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

VOX vs. UGA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VOX
Vanguard Communication Services ETF		-1.38%26.27%33.12%44.81%-38.85%13.83%29.12%28.03%-16.75%-5.50%
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%

Correlation

The correlation between VOX and UGA is -0.23, 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

-0.23

Correlation (3Y)
Calculated over the trailing 3-year period

-0.04

Correlation (5Y)
Calculated over the trailing 5-year period

0.06

Correlation (10Y)
Calculated over the trailing 10-year period

0.15

Correlation (All Time)
Calculated using the full available price history since Feb 29, 2008

0.20

The correlation between VOX and UGA shifts across timeframes, from -0.23 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Communication Services ETF

United States Gasoline Fund LP

Often compared with VOX:
VOX vs. XLCVOX vs. VGTVOX vs. FCOMVOX vs. VOOVOX vs. XTLVOX vs. IYZVOX vs. SPY
Often compared with UGA:
UGA vs. URAUGA vs. FCGUGA vs. QQQUGA vs. VOOUGA vs. USOUGA vs. SPYUGA vs. FNGS

Return for Risk

VOX vs. UGA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VOX
VOX Risk / Return Rank: 3535
Overall Rank
VOX Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
VOX Sortino Ratio Rank: 3838
Sortino Ratio Rank
VOX Omega Ratio Rank: 3535
Omega Ratio Rank
VOX Calmar Ratio Rank: 3030
Calmar Ratio Rank
VOX Martin Ratio Rank: 3737
Martin Ratio Rank
UGA
UGA Risk / Return Rank: 6969
Overall Rank
UGA Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
UGA Sortino Ratio Rank: 5757
Sortino Ratio Rank
UGA Omega Ratio Rank: 6060
Omega Ratio Rank
UGA Calmar Ratio Rank: 8989
Calmar Ratio Rank
UGA Martin Ratio Rank: 7171
Martin Ratio Rank
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.

VOX vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Communication Services ETF (VOX) 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.

VOXUGADifference
Sharpe ratioReturn per unit of total volatility
1.34
2.32

-0.98

Sortino ratioReturn per unit of downside risk
2.00
2.75

-0.75

Omega ratioGain probability vs. loss probability

1.24

1.37

-0.14

Calmar ratioReturn relative to maximum drawdown

1.52

5.47

-3.95

Martin ratioReturn relative to average drawdown

5.83

13.25

-7.42

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VOX vs. UGA - Sharpe Ratio Comparison

The current VOX Sharpe Ratio is 1.34, which is lower than the UGA Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of VOX and UGA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

VOXUGADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.34

2.32

-0.98

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.36

0.73

-0.37

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

0.39

+0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

0.43

0.12

+0.31

Drawdowns

VOX vs. UGA - Drawdown Comparison

The maximum VOX drawdown since its inception was -57.18%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for VOX and UGA.

Loading charts...

Drawdown Indicators

VOXUGADifference

Max Drawdown

Largest peak-to-trough decline

-57.18%

-86.59%

+29.41%

Max Drawdown (1Y)

Largest decline over 1 year

-13.56%

-14.88%

+1.32%

Max Drawdown (3Y)

Largest decline over 3 years

-21.15%

-26.68%

+5.53%

Max Drawdown (5Y)

Largest decline over 5 years

-46.76%

-38.11%

-8.65%

Max Drawdown (10Y)

Largest decline over 10 years

-46.76%

-75.89%

+29.13%

Current Drawdown

Current decline from peak

-4.70%

-12.35%

+7.65%

Average Drawdown

Average peak-to-trough decline

-11.91%

-36.76%

+24.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.54%

6.13%

-2.59%

Volatility

VOX vs. UGA - Volatility Comparison

The current volatility for Vanguard Communication Services ETF (VOX) is 4.24%, while United States Gasoline Fund LP (UGA) has a volatility of 11.66%. This indicates that VOX 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.

Loading charts...

Volatility by Period

VOXUGADifference

Volatility (1M)

Calculated over the trailing 1-month period

4.24%

11.66%

-7.42%

Volatility (6M)

Calculated over the trailing 6-month period

11.16%

30.41%

-19.25%

Volatility (1Y)

Calculated over the trailing 1-year period

15.45%

35.14%

-19.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.15%

34.38%

-13.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.89%

37.27%

-16.38%

VOX vs. UGA - Expense Ratio Comparison

VOX has a 0.10% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

VOX vs. UGA - Dividend Comparison

VOX's dividend yield for the trailing twelve months is around 1.00%, while UGA has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
VOX
Vanguard Communication Services ETF		1.00%0.95%1.05%1.03%0.88%0.93%0.73%0.90%2.77%3.83%2.67%3.55%

Frequently Asked Questions

VOX and UGA have a correlation of -0.23, 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 VOX (4.24%). In terms of maximum drawdown, VOX dropped -57.18% vs UGA's -86.59%.

On 10-year performance, UGA leads with 14.43% vs 9.30% for VOX. On fees, VOX is cheaper at 0.10% per year. On volatility, VOX has been the lower-risk option at 4.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, UGA has performed better with a 14.43% return vs 9.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VOX is cheaper with a 0.10% expense ratio, compared with 0.75% for UGA.

VOX has the higher dividend yield at 1.00%, compared with 0.00% for UGA.

VOX is categorized as Technology Equities, while UGA is Oil & Gas. VOX tracks MSCI US Investable Market Telecommunication Services 25/50 Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Vanguard and Concierge Technologies. Their fees differ too: 0.10% for VOX and 0.75% for UGA.

UGA currently has the higher Sharpe Ratio (2.32 vs 1.34), 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.

Portfolio Optimizer

Find the right allocation for VOX and UGA

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer