IVV vs UGA
iShares Core S&P 500 ETF vs United States Gasoline Fund LP
Quick Verdict
IVV has a lower expense ratio. UGA delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | UGA | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 1.08% | |
| AUM | $865.2B | $144M | |
| Dividend Yield | 1.09% | 0.00% | |
| Holdings | 508 | 5 | |
| YTD Return | +13.80% | +82.25% | |
| 1Y Return | +23.70% | +81.17% | |
| 3Y Return (annualized) | +21.49% | +15.99% | |
| 5Y Return (annualized) | +13.43% | +25.33% | |
| Volatility (annualized) | 15.1% | 36.8% | |
| Max Drawdown | -56.5% | -86.6% | |
| Fund Family | iShares by BlackRock (US) | USCF Investments | |
| Category | Equity | Commodity | |
| Inception | May 15, 2000 | Feb 26, 2008 |
IVV vs UGA Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and United States Gasoline Fund LP (UGA) is a ETF from USCF Investments. Over the past year IVV returned +23.70% while UGA returned +81.17%. Year to date, IVV is up 13.80% versus a gain of 82.25% for UGA.
Over three years, IVV compounded at +21.49% per year against +15.99% for UGA; over five years the annualized figures are +13.43% and +25.33% respectively. Across the full 18-year window we track, IVV has the edge at +7.05% annualized vs +4.54%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UGA has been the more volatile fund, with annualized monthly volatility of 36.8% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -86.6% for UGA. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.42. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while UGA charges 1.08%. On a $10,000 position that is $3 vs $108 annually, a gap of $105 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 0.00% for UGA.
Holdings Overlap
IVV and UGA share 0 holdings out of 507 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or UGA?
IVV has an expense ratio of 0.03% while UGA charges 1.08%. IVV is the cheaper option. On a $10,000 investment, that is $105 per year of difference.
Which performed better, IVV or UGA?
Over the past year IVV returned +23.70% vs +81.17% for UGA, so UGA leads on 1-year performance. Over the longest common window we track (18 years), IVV annualized +7.05% vs +4.54% for UGA. Past performance does not guarantee future results.
Which is riskier, IVV or UGA?
UGA has been the more volatile fund at 36.8% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs UGA -86.6%.
Should I hold both IVV and UGA?
IVV and UGA have a monthly-return correlation of 0.42, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and UGA?
IVV and UGA share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, IVV or UGA?
IVV yields 1.09% while UGA yields 0.00%, so IVV currently pays the higher dividend yield.
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