WTPI vs. UGA
WTPI (WisdomTree Equity Premium Income Fund) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - WTPI is a Derivative Income fund tracking the Volos U.S. Large Cap Target 2.5% PutWrite Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, WTPI returned 8.20%/yr vs 14.31%/yr for UGA. At a 0.15 correlation, their price movements are largely independent. WTPI charges 0.44%/yr vs 0.75%/yr for UGA.
Performance
WTPI vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, WTPI achieves a 3.16% return, which is significantly lower than UGA's 64.09% return. Over the past 10 years, WTPI has underperformed UGA with an annualized return of 8.20%, while UGA has yielded a comparatively higher 14.31% annualized return.
WTPI
- 1D
- -1.14%
- 1M
- -0.70%
- YTD
- 3.16%
- 6M
- 2.00%
- 1Y
- 16.19%
- 3Y*
- 12.75%
- 5Y*
- 9.33%
- 10Y*
- 8.20%
UGA
- 1D
- -1.12%
- 1M
- -12.11%
- YTD
- 64.09%
- 6M
- 60.42%
- 1Y
- 59.74%
- 3Y*
- 18.95%
- 5Y*
- 22.69%
- 10Y*
- 14.31%
WTPI vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WTPI WisdomTree Equity Premium Income Fund | 3.16% | 14.45% | 17.18% | 15.53% | -10.11% | 20.94% | 1.65% | 13.55% | -7.16% | 10.09% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | 1.69% |
Correlation
The correlation between WTPI and UGA is -0.15, 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 | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2016 | 0.15 |
The correlation between WTPI and UGA shifts across timeframes, from -0.15 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WTPI vs. UGA — Risk / Return Rank
WTPI
UGA
WTPI vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Equity Premium Income Fund (WTPI) 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.
| WTPI | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.30 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 3.17 | -0.89 |
| Martin ratioReturn relative to average drawdown | 10.71 | 9.39 | +1.32 |
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Drawdowns
WTPI vs. UGA - Drawdown Comparison
The maximum WTPI drawdown since its inception was -28.40%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for WTPI and UGA.
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Drawdown Indicators
| WTPI | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.40% | -86.59% | +58.19% |
Max Drawdown (1Y)Largest decline over 1 year | -7.15% | -18.96% | +11.81% |
Max Drawdown (3Y)Largest decline over 3 years | -15.26% | -26.68% | +11.42% |
Max Drawdown (5Y)Largest decline over 5 years | -16.56% | -38.11% | +21.55% |
Max Drawdown (10Y)Largest decline over 10 years | -28.40% | -75.89% | +47.49% |
Current DrawdownCurrent decline from peak | -1.53% | -18.05% | +16.52% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -36.69% | +33.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.51% | 6.43% | -4.92% |
Volatility
WTPI vs. UGA - Volatility Comparison
The current volatility for WisdomTree Equity Premium Income Fund (WTPI) is 3.40%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that WTPI 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
| WTPI | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.40% | 9.24% | -5.84% |
Volatility (6M)Calculated over the trailing 6-month period | 7.61% | 30.57% | -22.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.33% | 35.22% | -25.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.22% | 34.45% | -22.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.26% | 37.22% | -23.96% |
WTPI vs. UGA - Expense Ratio Comparison
WTPI has a 0.44% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
WTPI vs. UGA - Dividend Comparison
WTPI's dividend yield for the trailing twelve months is around 12.19%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
WTPI WisdomTree Equity Premium Income Fund | 12.19% | 13.18% | 11.99% | 8.94% | 3.27% | 0.00% | 1.43% | 1.47% | 6.46% | 3.52% | 2.27% |
Frequently Asked Questions
WTPI and UGA have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (9.24%) compared to WTPI (3.40%). In terms of maximum drawdown, WTPI dropped -28.40% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.31% vs 8.20% for WTPI. On fees, WTPI is cheaper at 0.44% per year. On volatility, WTPI has been the lower-risk option at 3.40%. 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 14.31% return vs 8.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WTPI is cheaper with a 0.44% expense ratio, compared with 0.75% for UGA.
WTPI has the higher dividend yield at 12.19%, compared with 0.00% for UGA.
WTPI is categorized as Derivative Income, while UGA is Oil & Gas. WTPI tracks Volos U.S. Large Cap Target 2.5% PutWrite Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: WisdomTree and Concierge Technologies. Their fees differ too: 0.44% for WTPI and 0.75% for UGA.
WTPI currently has the higher Sharpe Ratio (1.75 vs 1.73), 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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