XLV vs. UGA
XLV (State Street Health Care Select Sector SPDR ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - XLV is a Health & Biotech Equities fund tracking the Health Care Select Sector Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 10 years, XLV returned 10.01%/yr vs 14.31%/yr for UGA. At a 0.13 correlation, their price movements are largely independent. XLV charges 0.08%/yr vs 0.75%/yr for UGA.
Performance
XLV vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, XLV achieves a -0.85% return, which is significantly lower than UGA's 64.09% return. Over the past 10 years, XLV has underperformed UGA with an annualized return of 10.01%, while UGA has yielded a comparatively higher 14.31% annualized return.
XLV
- 1D
- 1.41%
- 1M
- 1.98%
- YTD
- -0.85%
- 6M
- -0.97%
- 1Y
- 17.16%
- 3Y*
- 6.63%
- 5Y*
- 5.69%
- 10Y*
- 10.01%
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%
XLV vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLV State Street Health Care Select Sector SPDR ETF | -0.85% | 14.50% | 2.47% | 2.07% | -2.08% | 26.04% | 13.30% | 20.45% | 6.28% | 21.77% |
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 XLV and UGA is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2008 | 0.13 |
The correlation between XLV and UGA shifts across timeframes, from -0.28 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XLV vs. UGA — Risk / Return Rank
XLV
UGA
XLV vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Health Care Select Sector SPDR ETF (XLV) 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.
| XLV | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.30 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 3.17 | -1.52 |
| Martin ratioReturn relative to average drawdown | 3.89 | 9.39 | -5.50 |
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Drawdowns
XLV vs. UGA - Drawdown Comparison
The maximum XLV drawdown since its inception was -39.17%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for XLV and UGA.
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Drawdown Indicators
| XLV | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.17% | -86.59% | +47.42% |
Max Drawdown (1Y)Largest decline over 1 year | -10.47% | -18.96% | +8.49% |
Max Drawdown (3Y)Largest decline over 3 years | -17.11% | -26.68% | +9.57% |
Max Drawdown (5Y)Largest decline over 5 years | -17.11% | -38.11% | +21.00% |
Max Drawdown (10Y)Largest decline over 10 years | -28.40% | -75.89% | +47.49% |
Current DrawdownCurrent decline from peak | -4.20% | -18.05% | +13.85% |
Average DrawdownAverage peak-to-trough decline | -7.12% | -36.69% | +29.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.42% | 6.43% | -2.01% |
Volatility
XLV vs. UGA - Volatility Comparison
The current volatility for State Street Health Care Select Sector SPDR ETF (XLV) is 5.27%, while United States Gasoline Fund LP (UGA) has a volatility of 9.24%. This indicates that XLV 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
| XLV | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.27% | 9.24% | -3.97% |
Volatility (6M)Calculated over the trailing 6-month period | 10.68% | 30.57% | -19.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.09% | 35.22% | -20.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.77% | 34.45% | -19.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.57% | 37.22% | -20.65% |
XLV vs. UGA - Expense Ratio Comparison
XLV has a 0.08% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
XLV vs. UGA - Dividend Comparison
XLV's dividend yield for the trailing twelve months is around 1.66%, 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% |
XLV State Street Health Care Select Sector SPDR ETF | 1.66% | 1.60% | 1.67% | 1.59% | 1.47% | 1.33% | 1.49% | 2.17% | 1.57% | 1.47% | 1.60% | 1.43% |
Frequently Asked Questions
XLV and UGA have a correlation of -0.28, 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 XLV (5.27%). In terms of maximum drawdown, XLV dropped -39.17% vs UGA's -86.59%.
On 10-year performance, UGA leads with 14.31% vs 10.01% for XLV. On fees, XLV is cheaper at 0.08% per year. On volatility, XLV has been the lower-risk option at 5.27%. 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 10.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLV is cheaper with a 0.08% expense ratio, compared with 0.75% for UGA.
XLV has the higher dividend yield at 1.66%, compared with 0.00% for UGA.
XLV is categorized as Health & Biotech Equities, while UGA is Oil & Gas. XLV tracks Health Care Select Sector Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: State Street and Concierge Technologies. Their fees differ too: 0.08% for XLV and 0.75% for UGA.
UGA currently has the higher Sharpe Ratio (1.73 vs 1.14), 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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