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OILK vs UGA

ProShares K-1 Free Crude Oil ETF

OILKACboe

United States Gasoline Fund, LP

UGACNYSE Arca

Overlap

Expense ratio

OILK −0.38pt a year

OILK0.70%UGA1.08%

Avg volume · 30D

OILK 2.4×the volume

OILK113KUGA47.8K

10Y return · a year

UGA +12.2pt

OILK+6.1%UGA+18.3%

OILK vs UGA Performance

Oct 29, 2021 – Oct 30, 2026

+130.6%OILK+240.5%UGA

Oct 29, 2021 to Oct 30, 2026. OILK +130.6%. UGA +240.5%. Use the arrow keys to read each point.0%50%100%200%Oct 2021Apr 2024Oct 2026
Expense ratio
OILK 0.70%, better
UGA 1.08%
Fund size
OILK $259M
UGA $161M
1Y total return
OILK +89.1%
UGA +120.5%, better
Yield (12M)
OILK 15.32%
UGA No data
Holdings
OILK 2
UGA 8
Avg volume (30D)
OILK 113K sh, better
UGA 47.8K sh
NAV per share
OILK $62.65
UGA $146.05
52W range

ETF.net Grade

OILK: Cost 93, Risk 69, Mission not scored, Tradability 68, Holdings 28, Durability 72. UGA: Cost 38, Risk 68, Mission not scored, Tradability 45, Holdings not scored, Durability 48.
Pillar letters and Scores for OILK, UGA, with each pillar’s weight
PillarOILKUGA
Cost30% weightA93HigherD38
Mission25% weightNot scoredNot scored
Risk15% weightB69HigherB68
Tradability15% weightB68HigherC45
Holdings10% weightD28Not scored
Durability5% weightA72HigherC48

Rank among Energy Futures funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. OILK and UGA are both graded against the same 11 Energy Futures funds, so their Grades compare head to head.

Energy Futures⁠

Category · 11 funds
See all 11 ›

OILK ranks 1st and UGA 6th of 11 funds in the Energy Futures Category.

  1. Rank 1AOILKProShares K-1 Free Crude Oil ETFScore 79
  2. Rank 2BDBEInvesco DB Energy FundScore 69
  3. Rank 5CUSLUnited States 12 Month Oil FundScore 51
  4. Rank 6CUGAUnited States Gasoline Fund, LPScore 47
  5. Rank 7CBNOUnited States Brent Oil Fund LPScore 42

Our read on each fund

ETF.net Research

OILKAProShares K-1 Free Crude Oil ETF

UGACUnited States Gasoline Fund, LP

In short

OILK The only crude oil ETF that spares you a Schedule K-1. OILK sends a 1099 instead, and its index spreads WTI futures across three roll schedules rather than camping in the front month. All-in cost: 0.70%.

UGA Its energy-futures cohort is wall-to-wall crude. UGA aims at the refined stuff you actually pump, tracking front-month NYMEX RBOB gasoline futures inside a commodity pool that has run since 2008.

Stated mandate

OILK The Fund seeks to track, before fees and expenses, the Bloomberg Commodity Balanced WTI Crude Oil IndexSM.

UGA The fund seeks daily NAV percentage changes to reflect daily percentage changes in the spot price of RBOB gasoline for delivery to New York Harbor, measured through the Benchmark Futures Contract. It targets average daily tracking within plus or minus 10% over 30 successive valuation days.

Why people hold it

  • OILK At 0.70%, the cheapest of the headline oil-futures funds: USO charges 0.86%, USL 1.01%, DBO 0.81%, none of them waiver-assisted.
  • A 1940 Act fund that holds its futures through a Cayman subsidiary capped at 25% of assets each quarter-end, so tax time brings a 1099, not a partnership K-1.proshares.comproshares.com 2
  • Its index splits WTI exposure evenly across a monthly roll, a June annual roll and a December annual roll, resetting each March and September, diluting front-month roll costs.bbhub.io
  • Trading since 2016 and one of the stronger implementations in a small energy-futures peer group.
  • UGA A direct line to pump fuel: the benchmark is the near-month NYMEX gasoline (RBOB) contract for New York Harbor delivery, rolling to the next month within two weeks of expiry.sec.govuscfinvestments.com
  • Trading since 2008 under the same passive mandate, so the mechanism has been through multiple gasoline booms and busts rather than being a new launch.
  • The prospectus puts a number on tracking: average daily NAV moves are targeted within plus or minus 10% of the benchmark's over 30 successive valuation days.sec.gov

Worth knowing

  • OILK Tracks a futures index, not spot WTI. ProShares says plainly it should be expected to perform very differently from the spot price of WTI crude.proshares.com
  • One commodity, one curve: the portfolio is a few WTI futures positions plus cash-like collateral, so it moves with oil and nothing else.proshares.com
  • Income, if any, is paid monthly and comes largely from collateral yield, so the amount moves around rather than acting like a fixed coupon.proshares.com
  • UGA At 1.08%, fees land mid-pack among energy futures funds, while crude-focused peers such as OILK (0.69%) and USO (0.86%) charge less.
  • A commodity pool, not a 1099 fund: shareholders receive a Schedule K-1 at tax time, and the fund does not intend to pay cash distributions.uscfinvestments.comsec.gov
  • It trades lightly next to the big crude funds, and the front-month roll means it follows the futures curve, not the price on the sign at your local station.sec.gov

Full OILK profile⁠

Full UGA profile⁠

OILK vs UGA Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

OILK vs UGA Cost

Overpaying UGA vs OILK

$6,368

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • OILK 0.70%

    $13,606

  • UGA 1.08%

    $19,974

$10,000
30 years

Cost over time

  • OILK 0.70%
  • UGA 1.08%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530UGA $19,974OILK $13,606

Year by year

YearOILKUGAOverpaying
10$1,250$1,898$648
20$4,760$7,106$2,346
30$13,606$19,974$6,368

Expense ratio

  • 0.70%OILK, cheaper
  • 1.08%UGA
  • Middle half of Energy Futures funds
  • Median 1.01%

OILK cheapest of 11 funds

UGA 7th cheapest of 11 funds

OILK vs UGA Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
OILK 15.32%
UGA No data
Payout (12M)
OILK $9.54
UGA None
Last payment
OILK $2.57
UGA No data
Ex-dividend
OILK Oct 1, 2026
UGA No data
Paid on
OILK Oct 7, 2026
UGA No data
Frequency
OILK Monthly
UGA No data

Distribution history

Per share, 2023 to 2026, same scale for both

OILKMonthly · 38 paymentsAll OILK payments⁠
One bar per payment. 38 payments from 2023 to 2026 YTD. Mar 1, 2023 $0.06; Apr 3, 2023 $0.11; May 1, 2023 $0.10; Jun 1, 2023 $0.12; Jul 3, 2023 $0.12; Aug 1, 2023 $0.12; Sep 1, 2023 $0.12; Oct 2, 2023 $1.02; Nov 1, 2023 $0.48; Dec 1, 2023 $0.20; Feb 1, 2024 $0.22; May 1, 2024 $0.26; Jul 1, 2024 $0.23; Sep 3, 2024 $0.12; Oct 1, 2024 $0.14; Nov 1, 2024 $0.12; Dec 2, 2024 $0.10; Dec 23, 2024 $0.19; Feb 3, 2025 $0.31; Mar 3, 2025 $0.32; Apr 1, 2025 $0.09; May 1, 2025 $0.10; Jun 2, 2025 $0.09; Jul 1, 2025 $0.39; Aug 1, 2025 $0.11; Sep 2, 2025 $0.10; Oct 1, 2025 $0.11; Nov 3, 2025 $0.08; Dec 24, 2025 $0.08; Feb 2, 2026 $0.03; Mar 2, 2026 $0.27; Apr 1, 2026 $0.87; May 1, 2026 $1.19; Jun 1, 2026 $1.44; Jul 1, 2026 $0.24; Aug 3, 2026 $1.31; Sep 1, 2026 $1.45; Oct 1, 2026 $2.57. Use the arrow keys to read each point.$0$2.5020232026YTD
UGAAll UGA payments⁠

No distribution history available.

OILK vs UGA Risk

Fall from peak · 5 years

  • OILK
  • UGA
Oct 29, 2021 to Oct 30, 2026. Worst fall: OILK −34.6% · Mar 2023. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
OILK 26.3%, betterUGA 33.1%
Return per unit of riskSharpe ratio, 3 years
OILK 0.65UGA 0.85, better
Worst fallMax drawdown, 5 years
OILK −34.6%, betterUGA −38.1%
Market sensitivityBeta, 5 years
OILK 1.37UGA 1.62

OILK and UGA in the news

All news⁠

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