WOOD vs. UGA
WOOD (iShares Global Timber & Forestry ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - WOOD is a Materials fund tracking the S&P Global Timber & Forestry Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, WOOD returned 6.12%/yr vs 13.99%/yr for UGA. At a 0.26 correlation, their price movements are largely independent. WOOD charges 0.46%/yr vs 0.75%/yr for UGA.
Performance
WOOD vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, WOOD achieves a -5.94% return, which is significantly lower than UGA's 59.54% return. Over the past 10 years, WOOD has underperformed UGA with an annualized return of 6.12%, while UGA has yielded a comparatively higher 13.99% annualized return.
WOOD
- 1D
- 1.45%
- 1M
- 3.06%
- YTD
- -5.94%
- 6M
- -5.30%
- 1Y
- -6.26%
- 3Y*
- 0.47%
- 5Y*
- -3.10%
- 10Y*
- 6.12%
UGA
- 1D
- -2.77%
- 1M
- -14.54%
- YTD
- 59.54%
- 6M
- 55.91%
- 1Y
- 62.68%
- 3Y*
- 17.85%
- 5Y*
- 22.22%
- 10Y*
- 13.99%
WOOD vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WOOD iShares Global Timber & Forestry ETF | -5.94% | -3.27% | -4.21% | 13.84% | -19.39% | 17.03% | 20.36% | 19.75% | -17.73% | 34.49% |
UGA United States Gasoline Fund LP | 59.54% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 1.69% |
Correlation
The correlation between WOOD and UGA is -0.26, 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 | -0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2008 | 0.26 |
The correlation between WOOD and UGA shifts across timeframes, from -0.26 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WOOD vs. UGA — Risk / Return Rank
WOOD
UGA
WOOD vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Timber & Forestry ETF (WOOD) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| WOOD | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.16 | ||
| Sortino ratioReturn per unit of downside risk | -2.70 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.31 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | 3.10 | -3.39 |
| Martin ratioReturn relative to average drawdown | -0.62 | 9.66 | -10.28 |
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Drawdowns
WOOD vs. UGA - Drawdown Comparison
The maximum WOOD drawdown since its inception was -63.25%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for WOOD and UGA.
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Drawdown Indicators
| WOOD | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.25% | -86.59% | +23.34% |
Max Drawdown (1Y)Largest decline over 1 year | -21.64% | -20.32% | -1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -22.79% | -26.68% | +3.89% |
Max Drawdown (5Y)Largest decline over 5 years | -30.71% | -38.11% | +7.40% |
Max Drawdown (10Y)Largest decline over 10 years | -50.20% | -75.89% | +25.69% |
Current DrawdownCurrent decline from peak | -23.48% | -20.32% | -3.16% |
Average DrawdownAverage peak-to-trough decline | -14.79% | -36.69% | +21.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.20% | 6.51% | +3.69% |
Volatility
WOOD vs. UGA - Volatility Comparison
The current volatility for iShares Global Timber & Forestry ETF (WOOD) is 5.25%, while United States Gasoline Fund LP (UGA) has a volatility of 9.45%. This indicates that WOOD 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
| WOOD | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.25% | 9.45% | -4.20% |
Volatility (6M)Calculated over the trailing 6-month period | 14.28% | 30.74% | -16.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.95% | 34.84% | -15.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.74% | 34.47% | -14.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.76% | 37.22% | -15.46% |
WOOD vs. UGA - Expense Ratio Comparison
WOOD has a 0.46% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
WOOD vs. UGA - Dividend Comparison
WOOD's dividend yield for the trailing twelve months is around 2.51%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
WOOD iShares Global Timber & Forestry ETF | 2.51% | 2.51% | 2.09% | 1.64% | 2.26% | 1.24% | 0.98% | 1.85% | 2.82% | 1.19% | 1.65% | 2.04% |
Frequently Asked Questions
WOOD and UGA have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (9.45%) compared to WOOD (5.25%). In terms of maximum drawdown, WOOD dropped -63.25% vs UGA's -86.59%.
On 10-year performance, UGA leads with 13.99% vs 6.12% for WOOD. On fees, WOOD is cheaper at 0.46% per year. On volatility, WOOD has been the lower-risk option at 5.25%. 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 13.99% return vs 6.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WOOD is cheaper with a 0.46% expense ratio, compared with 0.75% for UGA.
WOOD has the higher dividend yield at 2.51%, compared with 0.00% for UGA.
WOOD is categorized as Materials, while UGA is Oil & Gas. WOOD tracks S&P Global Timber & Forestry Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.46% for WOOD and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.82 vs -0.33), 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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