United States Gasoline Fund Lp's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of United States Gasoline Fund Lp (UGA) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: United States Gasoline Fund Lp vs Its Competitors
- TTM: Trailing 12-month revenue of 113M vs 4M combined for its competitors (96.8% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+81.7% annualized vs trailing 12 months), vs accelerating (+98.1%) for its tracked peer group.
- Profitability: Its 99.3% net margin compares with 12,858.5% for the peer group.
- Peer revenue share: United States Gasoline Fund Lp accounted for 96.5% of combined revenue among its tracked peer group, down from 122.2% a year earlier.
- Peer differentiation: Revenue per employee of $56.34M compares with $1.83M for the peer group (30.8x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
UGA Sales vs. its Competitors, Q3 2026
With a net margin of 99.29 %, United States Gasoline Fund Lp reported lower profitability than its competitors (12,858.53 %).
United States Gasoline Fund Lp generated 96.52 % of the combined sales of its peer group, down from 122.21 % a year earlier.
API endpoints for this dataset
United States Gasoline Fund Lp vs. its Competitors, Q3 2026
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in United States Gasoline Fund Lp reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across United States Gasoline Fund Lp and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| United States Gasoline Fund Lp | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across United States Gasoline Fund Lp's competitor groups requires a Commercial License.
For context: the Exchange Traded Funds Etf industry grew revenue 397.3% year over year, combined, vs 899.0% for United States Gasoline Fund Lp. United States Gasoline Fund Lp's share of combined industry revenue moved from 1.90% to 3.82%, a gain of 1.92 percentage points.
United States Gasoline Fund Lp's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| United States Gasoline Fund Lp | Yes | - | - | No |
| Competitors combined (3) | - |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
UGA Stock Performance relative to its Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | United States Brent Oil Fund Lp | 282.9% | Outperformed |
| 2 | Invesco Db Oil Fund | 282.9% | Outperformed |
| 3 | United States 12 month Natural Gas Fund Lp | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for United States Gasoline Fund Lp's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Publicly Traded Peers of United States Gasoline Fund Lp
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 United States Gasoline Fund Lp |
143.40 | 112.68 |
 United States Brent Oil Fund Lp |
733.55 | 2.13 |
 United States 12 month Natural Gas Fund Lp |
15.02 | 1.59 |
 Invesco Db Oil Fund |
- | 3.59 |
| SUBTOTAL | 891.98 | 119.99 |
Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on United States Gasoline Fund Lp versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
United States Gasoline Fund Lp's Competitors Named by the Company
Competitive relationships identified from United States Gasoline Fund Lp reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Invesco Db Oil Fund | Company report | 85% |
| United States 12 month Natural Gas Fund Lp | Company report | 85% |
| United States Brent Oil Fund Lp | Company report | 85% |
Company report basis, confidence, active dates and source counts for United States Gasoline Fund Lp's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
United States Gasoline Fund Lp's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| United States Gasoline Fund Lp | 143 | 56,340,160 | 50,792,146 |
| United States Brent Oil Fund Lp | 734 | 1,065,699 | 95,661,467 |
| United States 12 month Natural Gas Fund Lp | 15 | 795,862 | -2,561,369 |
| Invesco Db Oil Fund | - | - | - |
| PEERS TOTAL | 749 | 1,827,129 | 73,080,098 |
United States Gasoline Fund Lp's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Exchange Traded Funds Etf industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (28 companies). See the full Exchange Traded Funds Etf industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 0.00 % | 4.25 % (avg) | -4.3 pp |
| Operating Margin | - | industry median | - |
| EBITDA Margin | - | 19.45 % (avg) | - |
| Capital Intensity (Capex / Revenue) | 0.00 % | 0.35 % (avg) | -0.3 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
United States Gasoline Fund Lp's Valuation vs Competitive Position
Valuation multiples vs the Exchange Traded Funds Etf industry average (28 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Exchange Traded Funds Etf industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 2.7x | 23.6x | -20.9x |
| EV / EBITDA | - | 3.5x | - |
| P/B | 1.2x | 1.1x | +0.1x |
| Return on Equity | 54.46 % | industry aggregate | 49.41 % |
| Return on Invested Capital | - | 2.78 % (avg) | - |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
United States Gasoline Fund Lp's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | -500.00 % | - | 215.57 % | 14.17 % | -42.18 % | -37.15 % | -62.71 % | 3.46 % |
| Operating Margin | 149.73 % | 97.54 % | 98.32 % | 98.10 % | 96.67 % | - | 84.64 % | - |
| Return on Invested Capital | -12.77 % | 12.65 % | 18.38 % | 17.05 % | - | - | 1.78 % | 3.61 % |
| P/E | - | 3.6x | - | 2.6x | 2.3x | 80.3x | 24.5x | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
United States Gasoline Fund Lp's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.00 % vs industry average 0.35 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on United States Gasoline Fund Lp's dedicated Suppliers and Customers pages, not here.
United States Gasoline Fund Lp's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Return on equity 49.4 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+81.7% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
No rule matched.
Opportunities
- A meaningful share of competitors (66.70 %) show financial-distress signals, a possible opening to gain share.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
United States Gasoline Fund Lp's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| United States Gasoline Fund Lp | 609.19 | 679.88 | - |
| United States Brent Oil Fund Lp | 2,648.84 | 664.54 | - |
| United States 12 month Natural Gas Fund Lp | 208.89 | 210.86 | - |
| Invesco Db Oil Fund | - | 2.48 | - |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
United States Gasoline Fund Lp's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| United States Gasoline Fund Lp | Q3 2026 | +899.0 % | +934.9 % |
| United States Brent Oil Fund Lp | Q3 2026 | - | +8,743.8 % |
| United States 12 month Natural Gas Fund Lp | Q3 2026 | - | - |
| Invesco Db Oil Fund | Q2 2026 | +2,388.8 % | - |
| PEERS TOTAL | +1,198.4 % | - |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
United States Gasoline Fund Lp's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| United States Gasoline Fund Lp | Q3 2026 | - | - |
| United States Brent Oil Fund Lp | Q3 2026 | - | - |
| United States 12 month Natural Gas Fund Lp | Q3 2026 | - | - |
| Invesco Db Oil Fund | Q2 2026 | - | - |
United States Gasoline Fund Lp's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| United States Gasoline Fund Lp | 77.25% | 38.68% | 77.39% |
| United States Brent Oil Fund Lp | 34.11% | 17.08% | 34.19% |
| United States 12 month Natural Gas Fund Lp | - | - | - |
| Invesco Db Oil Fund | 41.25% | 21.16% | 42.45% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
United States Gasoline Fund Lp's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| United States Gasoline Fund Lp | 1.51 | 1.27 |
| United States Brent Oil Fund Lp | 1.96 | 344.16 |
| United States 12 month Natural Gas Fund Lp | - | 9.44 |
| Invesco Db Oil Fund | - | - |
| PEERS AVERAGE | 2.26 | 7.43 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.