XONE vs. UGA
XONE (BondBloxx Bloomberg One Year Target Duration US Treasury ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - XONE is a Government Bonds fund tracking the Bloomberg US Treasury 1 Year Target Duration Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 3 years, XONE returned 4.55%/yr vs 20.80%/yr for UGA. At a correlation of -0.19, they often move in opposite directions. XONE charges 0.03%/yr vs 0.75%/yr for UGA.
Performance
XONE vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, XONE achieves a 1.16% return, which is significantly lower than UGA's 70.69% return.
XONE
- 1D
- 0.04%
- 1M
- 0.23%
- YTD
- 1.16%
- 6M
- 1.52%
- 1Y
- 3.81%
- 3Y*
- 4.55%
- 5Y*
- —
- 10Y*
- —
UGA
- 1D
- -2.73%
- 1M
- -12.25%
- YTD
- 70.69%
- 6M
- 59.72%
- 1Y
- 79.48%
- 3Y*
- 20.80%
- 5Y*
- 24.41%
- 10Y*
- 14.27%
XONE vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF | 1.16% | 4.41% | 4.83% | 4.74% | 0.60% |
UGA United States Gasoline Fund LP | 70.69% | -2.00% | 3.77% | 1.27% | 12.97% |
Correlation
The correlation between XONE and UGA is -0.29, 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 | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.22 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022 | -0.19 |
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Return for Risk
XONE vs. UGA — Risk / Return Rank
XONE
UGA
XONE vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) 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.
| XONE | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.76 | ||
| Sortino ratioReturn per unit of downside risk | +14.06 | ||
| Omega ratioGain probability vs. loss probability | 3.55 | 1.37 | +2.18 |
| Calmar ratioReturn relative to maximum drawdown | 23.89 | 5.37 | +18.52 |
| Martin ratioReturn relative to average drawdown | 138.39 | 12.86 | +125.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XONE | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.03 | 2.27 | +4.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.71 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 4.97 | 0.12 | +4.85 |
Drawdowns
XONE vs. UGA - Drawdown Comparison
The maximum XONE drawdown since its inception was -0.40%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for XONE and UGA.
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Drawdown Indicators
| XONE | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.40% | -86.59% | +86.19% |
Max Drawdown (1Y)Largest decline over 1 year | -0.16% | -14.88% | +14.72% |
Max Drawdown (3Y)Largest decline over 3 years | -0.28% | -26.68% | +26.40% |
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% | -14.75% | +14.75% |
Average DrawdownAverage peak-to-trough decline | -0.04% | -36.76% | +36.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 6.20% | -6.17% |
Volatility
XONE vs. UGA - Volatility Comparison
The current volatility for BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) is 0.09%, while United States Gasoline Fund LP (UGA) has a volatility of 11.64%. This indicates that XONE 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
| XONE | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 11.64% | -11.55% |
Volatility (6M)Calculated over the trailing 6-month period | 0.34% | 30.48% | -30.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.55% | 35.27% | -34.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.86% | 34.40% | -33.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.86% | 37.27% | -36.41% |
XONE vs. UGA - Expense Ratio Comparison
XONE has a 0.03% expense ratio, which is lower than UGA's 0.75% expense ratio.
Dividends
XONE vs. UGA - Dividend Comparison
XONE's dividend yield for the trailing twelve months is around 4.06%, while UGA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF | 4.06% | 4.33% | 5.21% | 4.46% | 1.17% |
Frequently Asked Questions
XONE and UGA have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (11.64%) compared to XONE (0.09%). In terms of maximum drawdown, XONE dropped -0.40% vs UGA's -86.59%.
On 3-year performance, UGA leads with 20.80% vs 4.55% for XONE. On fees, XONE is cheaper at 0.03% per year. On volatility, XONE has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UGA has performed better with a 20.80% return vs 4.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XONE is cheaper with a 0.03% expense ratio, compared with 0.75% for UGA.
XONE has the higher dividend yield at 4.06%, compared with 0.00% for UGA.
XONE is categorized as Government Bonds, while UGA is Oil & Gas. XONE tracks Bloomberg US Treasury 1 Year Target Duration Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: BondBloxx and Concierge Technologies. Their fees differ too: 0.03% for XONE and 0.75% for UGA.
XONE currently has the higher Sharpe Ratio (7.03 vs 2.27), 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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