XDTE vs. UGA
XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) and UGA (United States Gasoline Fund, LP) are both exchange-traded funds - XDTE is a Derivative Income fund actively managed by Roundhill, while UGA is a Oil & Gas fund tracking the Near-Month NYMEX RBOB Gasoline Futures Contract. XDTE is actively managed, while UGA is passively managed. Over the past year, XDTE returned 21.42% vs 71.49% for UGA. Their -0.08 correlation means they have often moved in opposite directions in the past. XDTE charges 0.97%/yr vs 1.02%/yr for UGA.
Performance
XDTE vs. UGA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XDTE achieves a 11.29% return, which is significantly lower than UGA's 72.77% return.
XDTE
- 1D
- 0.05%
- 1M
- 2.01%
- 6M
- 9.93%
- YTD
- 11.29%
- 1Y
- 21.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 17.24%
UGA
- 1D
- -0.56%
- 1M
- 0.07%
- 6M
- 54.03%
- YTD
- 72.77%
- 1Y
- 71.49%
- 3Y*
- 14.87%
- 5Y*
- 24.07%
- 10Y*
- 16.28%
- ALL TIME*
- 4.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.67M | $6.11M | $4.99M | |
| $7.06M | $7.78M | $7.52M |
XDTE vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF | 11.29% | 12.60% | 17.12% |
UGA United States Gasoline Fund, LP | 72.77% | -2.00% | -4.60% |
Correlation
The correlation between XDTE and UGA is -0.24, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.24 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | -0.08 |
The correlation between XDTE and UGA shifts across timeframes, from -0.24 (1 year) to -0.08 (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.
Return for Risk
XDTE vs. UGA — Risk / Return Rank
XDTE
UGA
XDTE vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) 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.
| XDTE | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.32 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 3.54 | -0.74 |
| Martin ratioReturn relative to average drawdown | 11.88 | 9.75 | +2.13 |
Loading charts...
Drawdowns
XDTE vs. UGA - Drawdown Comparison
The maximum XDTE drawdown since its inception was -19.09%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for XDTE and UGA.
Loading charts...
Drawdown Indicators
| XDTE | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.09% | -86.59% | +67.50% |
Max Drawdown (1Y)Largest decline over 1 year | -7.68% | -20.32% | +12.64% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.68% | — |
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 | 0.00% | -14.67% | +14.67% |
Average DrawdownAverage peak-to-trough decline | -2.25% | -36.52% | +34.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 7.36% | -5.55% |
Volatility
XDTE vs. UGA - Volatility Comparison
The current volatility for Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) is 3.60%, while United States Gasoline Fund, LP (UGA) has a volatility of 13.00%. This indicates that XDTE 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
| XDTE | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 13.00% | -9.40% |
Volatility (6M)Calculated over the trailing 6-month period | 9.33% | 32.16% | -22.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.84% | 36.60% | -24.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.85% | 34.71% | -20.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.85% | 37.31% | -23.46% |
XDTE vs. UGA - Expense Ratio Comparison
XDTE has a 0.97% expense ratio, which is lower than UGA's 1.02% expense ratio.
Dividends
XDTE vs. UGA - Dividend Comparison
XDTE's dividend yield for the trailing twelve months is around 31.42%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
UGA United States Gasoline Fund, LP | 0.00% | 0.00% | 0.00% |
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF | 31.42% | 39.16% | 20.35% |
Frequently Asked Questions
XDTE and UGA have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (13.00%) compared to XDTE (3.60%). In terms of maximum drawdown, XDTE dropped -19.09% vs UGA's -86.59%.
On 1-year performance, UGA leads with 71.49% vs 21.42% for XDTE. On fees, XDTE is cheaper at 0.97% per year. On volatility, XDTE has been the lower-risk option at 3.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, UGA has performed better with a 71.49% return vs 21.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XDTE is cheaper with a 0.97% expense ratio, compared with 1.02% for UGA.
XDTE has the higher dividend yield at 31.42%, compared with 0.00% for UGA.
XDTE is categorized as Derivative Income, while UGA is Oil & Gas. They also come from different issuers: Roundhill and USCF. Their fees differ too: 0.97% for XDTE and 1.02% for UGA.
UGA currently has the higher Sharpe Ratio (1.96 vs 1.82), 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.
Find the right allocation for XDTE 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