UNG — United States Natural Gas Fund, LP
Commodities Ranked #458 of 458 tracked ETFs · Issued by USCF Investments
UNG Price Performance — Growth of $10,000
Value of a $10,000 investment in UNG over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.
UNG Drawdown
The "underwater" chart: UNG's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.
What If You'd Invested in UNG?
See what a lump sum in UNG would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
Issued by USCF Investments, the United States Natural Gas Fund, LP is a commodity-focused ETF currently ranked last among its 22 category peers. With an ETFValuer grade of F and a score of 19.8 out of 100, the fund trails significantly in overall standing at number 458 of 458 tracked ETFs. Its assets under management stand at $579 million, while the 1.17% expense ratio exceeds the category median of 0.595%. The fund provides no income, matching the category median dividend yield of 0.00%. Detailed holdings breakdown data is not available for this vehicle.
The price of $10.56 sits at 13.5% of its 52-week range, reflecting a recent one-month gain of 9.66% that contrasts with a year-to-date decline of 12.44%. Over longer horizons, the trend is sharply negative, with one-year and three-year returns of -19.39% and -62.55% respectively, compared to a category median one-year return of +29.35%. Short-term momentum shows a +2.23% weekly increase following a -9.51% three-month drop. The rating has remained unchanged at grade F across the last 35 tracked days. Historical data for this fund spans only 3.0 years, limiting the depth of the performance record.
With a volatility measure of 58.29%, the fund is classified as Very High, indicating significant price fluctuations. A beta of 1.50 suggests the asset moves 150% as much as the broader market, amplifying its exposure to general market swings. The Sharpe ratio of -0.42 reflects poor risk-adjusted performance, compounded by a maximum drawdown of -69.53%. Despite the high volatility, liquidity remains robust with an average daily volume of 8,412,409 shares and a narrow bid-ask spread of 0.19%. These metrics collectively describe a record of high instability and substantial capital erosion.
AI-generated summary based on the data on this page.
Market Backdrop
10-Year Treasury Yield: 4.77% (as of 2026-09-03) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.
CBOE Volatility Index (VIX): 14.32 (as of 2026-09-03) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.
Federal Funds Rate: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What UNG's Fees Cost You
UNG charges an expense ratio of 1.17% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
UNG Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is 0.19% and average daily volume is 8.4M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $579M provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: UNG is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.
UNG Performance History
| Period | Return |
|---|---|
| 1-Day | +0.67% |
| 1-Week | +2.23% |
| 1-Month | +9.66% |
| 3-Month | -9.51% |
| 6-Month | -17.18% |
| YTD | -12.44% |
| 1-Year | -19.39% |
| 3-Year | -62.55% |
How UNG Compares to Other Commodities ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #46 | B |
BCI | abrdn Bloomberg All Commodity Strategy K-1 Free ETF | +43.21% | 0.26% | $3.37B |
| #84 | B |
PDBC | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | +49.15% | 0.59% | $7.29B |
| #117 | B |
DJP | iPath Bloomberg Commodity Index Total Return(SM) ETN | +49.59% | 0.7% | $1.01B |
| #130 | B |
COMT | iShares GSCI Commodity Dynamic Roll Strategy ETF | +46.13% | 0.48% | $1.29B |
| #145 | B |
DBC | Invesco DB Commodity Index Tracking Fund | +48.46% | 0.85% | $1.80B |
| #173 | B |
GLDM | SPDR Gold MiniShares | +24.85% | 0.1% | $32.8B |
| #174 | C |
GSG | iShares S&P GSCI Commodity-Indexed Trust | +53.10% | 0.75% | $1.01B |
| #190 | B |
IAU | iShares Gold Trust | +24.63% | 0.25% | $67.5B |
| #192 | C |
DBB | Invesco DB Base Metals Fund | +33.66% | 0.75% | $364M |
| #198 | C |
SLV | iShares Silver Trust | +61.98% | 0.5% | $34.7B |
| #199 | C |
IAUM | iShares Gold Trust Micro | +24.86% | 0.09% | $8.14B |
| #203 | C |
GLD | SPDR Gold Shares | +24.51% | 0.4% | $153B |
| #215 | C |
SGOL | abrdn Physical Gold Shares ETF | +24.76% | 0.17% | $7.75B |
| #216 | C |
USO | United States Oil Fund, LP | +91.37% | 0.86% | $1.90B |
| #238 | C |
OUNZ | VanEck Merk Gold Trust | +24.62% | 0.25% | $2.85B |
| #239 | C |
BAR | GraniteShares Gold Trust | +24.80% | 0.1749% | $1.46B |
| #265 | C |
CPER | United States Copper Index Fund, LP | +42.27% | 0.88% | $750M |
| #352 | C |
PPLT | abrdn Physical Platinum Shares ETF | +31.65% | 0.6% | $2.30B |
| #374 | C |
DBA | Invesco DB Agriculture Fund | +9.73% | 0.85% | $1.33B |
| #426 | D |
WEAT | Teucrium Wheat Fund | +27.05% | 1% | $363M |
| #428 | D |
PALL | abrdn Physical Palladium Shares ETF | +23.40% | 0.6% | $769M |
| #458 | F |
UNG | United States Natural Gas Fund, LP | -19.39% | 1.17% | $579M |