United States Gasoline Fund, LP

United States Gasoline Fund, LP is a U.S.-based commodity pool structured to provide investors exposure to gasoline prices through exchange-traded futures and related derivative instruments. Its portfolio is centered on gasoline-linked contracts, with additional use of other petroleum-based fuel instruments and cash collateral holdings to support its investment objective.

−146,4 %

— United States Gasoline Fund, LP
%
Gasoline futures contracts70% Exchange-traded futures used to track gasoline price movements.
Other gasoline-related derivatives20% Options, swaps, and forward contracts tied to gasoline prices.
Collateral and cash instruments10% Cash and short-term instruments held to support margin and liquidity needs.

The fund’s investors are market participants seeking indirect exposure to unleaded gasoline prices without trading...

  • Institutional investorsprimary

    Buy shares to gain exchange-listed exposure to gasoline prices in portfolio allocations.

  • Commodity hedgersprimary

    Use the fund as an indirect hedge against gasoline price movements.

  • Trading and tactical investorssecondary

    Use the fund for short-term positioning around gasoline market moves.

UGA is a U.S.-domiciled fund whose shares trade on NYSE Arca, and its benchmark exposure is tied to gasoline pricing in...

  • •U.S.-domiciled fund listed on NYSE Arca
  • •Benchmark exposure tied to New York Harbor gasoline pricing
  • •Uses U.S. and foreign exchanges for futures access
  • •Global supply shocks can move gasoline prices even if trading is U.S.-based

The fund’s strategy is to hold gasoline futures and related instruments so that daily changes in NAV track the daily...

01
Maintain benchmark trackingshort-term

The fund exists to mirror gasoline price changes through futures-based exposure.

02
Manage liquidity and margin needsshort-term

Derivative positions require collateral and operational flexibility.

03
Limit tracking errormedium-term

Performance depends on how closely fund returns follow the benchmark contract.

The fund is exposed to gasoline price volatility, futures curve effects, and tracking error because its returns depend...

high

Gasoline price volatility

The fund’s value is directly linked to gasoline futures and spot-price movements.

Scope
Benchmark futures and related gasoline instruments
Materiality
high
high

Tracking error

Futures-based exposure may not perfectly match daily gasoline price changes.

Scope
Benchmark contract, roll yield, contract selection
Materiality
high
high

Geopolitical supply disruption

Wars, sanctions, and trade disruptions can sharply move gasoline prices.

Scope
Global petroleum supply chain
Materiality
high
medium

Counterparty and OTC risk

Forward contracts and swaps depend on counterparties performing as agreed.

Scope
OTC swaps and forward contracts
Materiality
medium
medium

Regulatory and position-limit risk

Commodity interest trading is subject to exchange, CFTC, and NFA rules.

Scope
Futures positions and margin requirements
Materiality
medium
Fair value measurement of derivatives
Investment assets, gains/losses, and NAV
OTC valuation models
Derivative asset/liability values
Interest income estimation
Net investment income
Margin and collateral accounting
Liquidity presentation and balance sheet composition

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: 29/04/2026