# United States Gasoline Fund, LP (UGA)

> Source: Nexqual · https://nexqual.com/UGA · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, United States Gasoline Fund, LP (UGA), nexqual.com/UGA" · informational, not investment advice.

**Price:** USD 144.92 (+1.78% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 142.39 · day 143.79–145.39 · 52w 60.61–153.46 · market cap null · PCX

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $56.6M, net income $55.7M (98.3% margin) (SEC filings).
- Total return with dividends: 1Y +124.9% vs S&P 500 +13.4%; 5Y +241.2% vs S&P 500 +76.9%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $49.1M | $28.4M | $1.4M | $6.7M | -$3.1M | $56.6M |
| Net income | $48.3M | $27.4M | $539K | $5.6M | -$3.9M | $55.7M |
| Net margin | 98.2% | 96.3% | 38.0% | 84.6% | 126.9% | 98.3% |
| Revenue growth | +14.2% | -42.2% | -95.0% | +368.8% | -146.4% | — |
| Cash + short-term investments | $50.1M | $30.6M | $45.8M | $75.9M | $67.1M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)


## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +124.9% | +241.2% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +125.5% | +27.9% |
| Volatility (annualized) | 39.2% | 35.4% |
| Max drawdown | -20.3% (May 2026→Jun 2026) | -37.6% (May 2022→Dec 2022) |

## Peers
USL (United States 12 Month Oil) USD 64.08 +2.38% · DBE (Invesco DB Energy Fund) USD 41.02 +2.68% · DBO (Invesco DB Oil Fund) USD 26.87 +3.35% · BNO (United States Brent Oil Fund, L) USD 70.99 +3.02% · DBB (Invesco DB Base Metals Fund) USD 24.88 +1.10%

## More
Full page: https://nexqual.com/UGA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 27 | 49.5% | ±10.9% |
| 2026-12-18 | 55 | 47.6% | ±14.8% |
| 2027-01-15 | 83 | 44.6% | ±17.0% |
| 2027-03-19 | 146 | 42.5% | ±21.4% |
| 2027-04-16 | 174 | 42.2% | ±23.1% |
| 2027-05-21 | 209 | 40.2% | ±24.1% |
| 2027-06-17 | 236 | 39.5% | ±25.2% |
| 2027-08-20 | 300 | 36.8% | ±26.4% |