UNG — United States Natural Gas Fund, LP
Commodities Ranked #457 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
The United States Natural Gas Fund, LP (UNG) is a commodity-focused fund issued by USCF Investments that currently holds $419 million in assets. Tracked within a category of 22 ETFs, the fund carries an overall rank of #457 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of F with a score of 17.5 out of 100. Investors face an expense ratio of 1.17% while the fund offers a dividend yield of 0.00%. The current share price sits at $9.80, a level that reflects the fund's significant underperformance relative to its peers and the broader market. This combination of a low asset base, high fees, and a bottom-tier ranking suggests limited investor adoption compared to other vehicles in the commodities sector.
Recent price action shows a sharp decline over the last day with a return of -3.07%, extending into a weekly loss of -5.77%. The one-month performance deteriorated further to -17.44%, while the three-month return stands at -6.58%, indicating a period of sustained negative momentum. Year-to-date returns are down -18.74%, and the one-year return has fallen to -29.14%. The long-term trend is even more severe, with the three-year return reaching -63.27%. This pattern demonstrates a consistent downward trajectory across all measured time horizons, with no evidence of recovery or positive divergence between short-term and long-term results.
The fund is classified with a Very High volatility label and exhibits a beta of 1.70, indicating that its price movements are significantly more sensitive to market fluctuations than the broader benchmark. A Sharpe ratio of -0.58 reflects poor risk-adjusted returns, suggesting that the fund has generated negative returns relative to the risk taken. This risk profile is further illustrated by a maximum drawdown of -69.26%, which represents the largest peak-to-trough decline experienced by investors. The combination of high beta and extreme drawdown implies that the fund amplifies market moves in both directions, leading to substantial losses during downturns without providing proportional gains during upswings.
AI-generated summary based on the data on this page.
Market Backdrop
10-Year Treasury Yield: 4.65% (as of 2026-07-27) — 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): 18.67 (as of 2026-07-27) — 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 2026-06-01) — 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 0.10% and average daily volume is 7.8M/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 $419M 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 | -3.07% |
| 1-Week | -5.77% |
| 1-Month | -17.44% |
| 3-Month | -6.58% |
| 6-Month | -33.92% |
| YTD | -18.74% |
| 1-Year | -29.14% |
| 3-Year | -63.27% |
How UNG Compares to Other Commodities ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #93 | B |
BCI | abrdn Bloomberg All Commodity Strategy K-1 Free ETF | +29.27% | 0.26% | $2.28B |
| #136 | B |
PDBC | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | +32.75% | 0.59% | $5.33B |
| #167 | B |
DJP | iPath Bloomberg Commodity Index Total Return(SM) ETN | +33.08% | 0.7% | $850M |
| #177 | C |
COMT | iShares GSCI Commodity Dynamic Roll Strategy ETF | +30.93% | 0.48% | $1.11B |
| #189 | C |
DBC | Invesco DB Commodity Index Tracking Fund | +31.98% | 0.85% | $1.58B |
| #195 | C |
GLDM | SPDR Gold MiniShares | +20.53% | 0.1% | $27.3B |
| #202 | C |
GSG | iShares S&P GSCI Commodity-Indexed Trust | +37.38% | 0.75% | $839M |
| #205 | C |
SLV | iShares Silver Trust | +49.16% | 0.5% | $28.2B |
| #207 | C |
IAU | iShares Gold Trust | +20.33% | 0.25% | $60.1B |
| #219 | C |
DBB | Invesco DB Base Metals Fund | +27.83% | 0.75% | $355M |
| #226 | C |
GLD | SPDR Gold Shares | +20.16% | 0.4% | $130B |
| #258 | C |
USO | United States Oil Fund, LP | +60.98% | 0.86% | $1.88B |
| #261 | C |
IAUM | iShares Gold Trust Micro | +19.43% | 0.09% | $6.31B |
| #278 | C |
SGOL | abrdn Physical Gold Shares ETF | +19.29% | 0.17% | $6.74B |
| #311 | C |
OUNZ | VanEck Merk Gold Trust | +19.19% | 0.25% | $2.50B |
| #314 | C |
BAR | GraniteShares Gold Trust | +19.19% | 0.1749% | $1.33B |
| #373 | C |
DBA | Invesco DB Agriculture Fund | +10.09% | 0.85% | $1.15B |
| #412 | D |
PPLT | abrdn Physical Platinum Shares ETF | +13.35% | 0.6% | $1.77B |
| #426 | D |
CPER | United States Copper Index Fund, LP | +5.97% | 0.88% | $738M |
| #451 | F |
WEAT | Teucrium Wheat Fund | +9.91% | 1% | $269M |
| #452 | F |
PALL | abrdn Physical Palladium Shares ETF | +2.52% | 0.6% | $591M |
| #457 | F |
UNG | United States Natural Gas Fund, LP | -29.14% | 1.17% | $419M |