Compare UNG vs. UNL ETF performance
Comparing 2 ETFs | Performance (December 11, 2025 - March 11, 2026) |
UNG UNL |
Comparison analysis The ETFs United States Natural Gas Fund (UNG) and United States 12 Month Natural Gas Fund LP (UNL) are passive ETFs that track the performance of the Natural Gas Price - USD. As a result, they allow investors to get exposure to Energy. United States Natural Gas Fund (UNG) has a lower tracking difference () than United States 12 Month Natural Gas Fund LP (UNL) (), and a lower tracking error ( vs. ). UNG replicates its index using the Other with a Other model, while UNL is built on a Other replication method with a Futures or forwards model. With a Total Expense Ratio (TER) of 1.24%, UNG is cheaper than UNL, with 1.57%. UNG has a 3M average daily volume (ADV) of +$232M vs. +$838K for UNL. The recorded 1Y bid-ask spread is +7.05bps (UNG) and +35.77bps (UNL). The table below shows the full side-by-side ETF comparison of UNG and UNL, with detailed data on performance, flows, liquidity, exposure to individual stocks, segments, sectors, and geographies, helping you select the best ETFs. |
UNL United States 12 Month Natural Gas Fund LP - USDThis ETF provides exposure to Natural gas ISIN US91288X1090 |
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Product Type | Passive ETF | Passive ETF | ||
Strategy | Long only | Long only | ||
NAV | $12.92 | $7.45 | ||
AuM | - | - | ||
E/R | 1.24% | 1.57% | ||
Rating | Not rated | Not rated | ||
Provider | ||||
Investment strategy | The United States Natural Gas Fund® LP (UNG) is an exchange-traded security that is designed to track the daily price movements of natural gas. UNG issues shares that may be purchased and sold on the NYSE Arca. | The United States 12 Month Natural Gas Fund® LP (UNL) is an exchange traded security that is designed to track the movements of natural gas prices. UNL issues shares that may be purchased and sold on the NYSE Arca. | ||
Dividend policy | Capitalization | No income | ||
Tax optimisation | ||||
PEA | ||||
UK Reporting | ||||
Performance and flows | Perf. Flows | Perf. Flows | ||
1 month | +5.47% To view, create a free account | +3.62% To view, create a free account | ||
3 months | -1.30% | -5.58% | ||
1 year | -45.32% | -31.65% | ||
3 years | -62.49% | -42.56% | ||
5 years | -67.60% | -8.18% | ||
Month to date | +12.35% | +8.76% | ||
Quarter to date | +5.90% | +1.50% | ||
Year to date | +5.90% | +1.50% | ||
Volatility and risk | 1 year 3 years 5 years | 1 year 3 years 5 years | ||
Volatility | To view, create a free account | To view, create a free account | ||
Perf./Volatility | ||||
Max drawdown | ||||
Create a free Trackinsight Essentials account to unlock insights Access exclusive metrics and features to support your investment decisions. | ||||
Exposure | ||||
Countries | - | - | ||
Sectors or issuer types | - | - | ||
Number of holdings | - | - | ||
Weight of top 15 holdings | ||||
Top 15 holdings | ||||
Replication | ||||
Benchmark | ||||
Replication method | ||||
Replication model | ||||
Trackinsight replication rating | Not rated | Not rated | ||
Tracking error (1Y) | ||||
Tracking difference (1Y) | ||||
Sustainability | ||||
ESG Consensus® |  | | ||
SDG |
Frequently asked questions about UNG and UNL
How did UNG and UNL perform in 2026?
As of 3/11/2026, UNG has delivered a year-to-date performance of 5.90%, while UNL has returned 1.50%.
Which ETF is seeing higher flows: UNG or UNL?
As of 3/11/2026, UNG has recorded -€149M in net flows YTD, compared to -€2.2M for UNL since the beginning of the year.
Which ETF shows higher volatility: UNG or UNL?
As of 3/11/2026, UNG reported a 1-year volatility of 66.48%, whereas UNL registered volatility 39.80% over the same period.
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