XOVR vs. UGA
XOVR (ERShares Private-Public Crossover ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - XOVR is a Large Cap Growth Equities fund actively managed by ERShares, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. XOVR is actively managed, while UGA is passively managed. Over the past 5 years, XOVR returned 3.90%/yr vs 22.69%/yr for UGA. At a 0.15 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
XOVR vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, XOVR achieves a -2.63% return, which is significantly lower than UGA's 64.09% return.
XOVR
- 1D
- -1.16%
- 1M
- 0.41%
- YTD
- -2.63%
- 6M
- -4.25%
- 1Y
- 7.10%
- 3Y*
- 17.80%
- 5Y*
- 3.90%
- 10Y*
- —
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%
XOVR vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XOVR ERShares Private-Public Crossover ETF | -2.63% | 11.83% | 33.21% | 51.89% | -41.09% | -7.24% | 50.39% | 31.72% | -5.02% | 1.54% |
UGA United States Gasoline Fund LP | 64.09% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -28.07% | -2.75% |
Correlation
The correlation between XOVR and UGA is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2017 | 0.15 |
The correlation between XOVR and UGA shifts across timeframes, from -0.14 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XOVR vs. UGA — Risk / Return Rank
XOVR
UGA
XOVR vs. UGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ERShares Private-Public Crossover ETF (XOVR) 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.
| XOVR | UGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.30 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.29 | 3.17 | -2.87 |
| Martin ratioReturn relative to average drawdown | 0.64 | 9.39 | -8.75 |
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Drawdowns
XOVR vs. UGA - Drawdown Comparison
The maximum XOVR drawdown since its inception was -56.28%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for XOVR and UGA.
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Drawdown Indicators
| XOVR | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.28% | -86.59% | +30.31% |
Max Drawdown (1Y)Largest decline over 1 year | -24.32% | -18.96% | -5.36% |
Max Drawdown (3Y)Largest decline over 3 years | -25.23% | -26.68% | +1.45% |
Max Drawdown (5Y)Largest decline over 5 years | -49.35% | -38.11% | -11.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | -9.67% | -18.05% | +8.38% |
Average DrawdownAverage peak-to-trough decline | -18.34% | -36.69% | +18.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.07% | 6.43% | +4.64% |
Volatility
XOVR vs. UGA - Volatility Comparison
ERShares Private-Public Crossover ETF (XOVR) has a higher volatility of 10.70% compared to United States Gasoline Fund LP (UGA) at 9.24%. This indicates that XOVR's price experiences larger fluctuations and is considered to be riskier 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
| XOVR | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.70% | 9.24% | +1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 17.41% | 30.57% | -13.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.13% | 35.22% | -13.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.47% | 34.45% | -7.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.00% | 37.22% | -10.22% |
XOVR vs. UGA - Expense Ratio Comparison
Both XOVR and UGA have an expense ratio of 0.75%.
Dividends
XOVR vs. UGA - Dividend Comparison
Neither XOVR nor UGA has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
XOVR ERShares Private-Public Crossover ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 57.75% | 6.31% | 0.08% | 3.71% | 0.08% |
Frequently Asked Questions
XOVR and UGA have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XOVR has higher volatility (10.70%) compared to UGA (9.24%). In terms of maximum drawdown, XOVR dropped -56.28% vs UGA's -86.59%.
On 5-year performance, UGA leads with 22.69% vs 3.90% for XOVR. Both ETFs have the same 0.75% expense ratio. On volatility, UGA has been the lower-risk option at 9.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UGA has performed better with a 22.69% return vs 3.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XOVR and UGA have the same expense ratio: 0.75% per year.
XOVR and UGA have nearly identical dividend yields, around 0.00%.
XOVR is categorized as Large Cap Growth Equities, while UGA is Oil & Gas. They also come from different issuers: ERShares and Concierge Technologies.
UGA currently has the higher Sharpe Ratio (1.73 vs 0.32), 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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