UNL

United States 12 Month Natural Gas Fund LP
*Unless otherwise stated, data provided by FactSet.

UNL Fund Description

UNL holds the 12 nearest-month NYMEX natural gas futures contracts in equal weights.

UNL Factset Analytics Insight

UNL offers an alternative method of exposure to natural gas in a viable, if not quite bulletproof, vehicle. The fund spreads its futures exposure equally across the nearest 12 contract months in an effort to minimize the impact of contango on returns. In contrast to its sibling funds, that offers exposure to the next-nearest month. This will mean it will have less sensitivity to short-term moves in spot natural gas. Investors should consider using limit orders to manage spreads. UNL's legal structure isn’t unusual in the commodities space, but it does change the tax structure and result in a K-1 at tax time.

PERFORMANCE [as of 06/16/21] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
UNL 7.03% 17.72% 20.36% 18.64% -1.98% -1.85% -12.34%
UNL (NAV) 7.68% 17.77% 19.24% 21.60% -1.66% -1.56% -12.01%
12 Month Natural Gas -- -- -- -- -- -- --
S&P GSCI Natural Gas Index 7.85% 19.65% 23.69% 14.32% -22.88% -18.28% -23.82%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

UNL Summary Data

11/18/09
Commodities Pool
0.90%
$10.56M
$162.33K
0.48%
UNG, GAZ

UNL Portfolio Data

Futures
Laddered
Monthly
3

UNL Index Data

12 Month Natural Gas
Single Asset
Single Asset
S&P GSCI Natural Gas Index

UNL Portfolio Management

0.90%
--
--
--

UNL Tax Exposures

27.84% / 27.84%
--
Yes

UNL Fund Structure

Commodities Pool
No
No
N/A
N/A
High
Daily

UNL Factset Analytics Block Liquidity

As of 06/17/21
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of UNL. UNL is rated a 5 out of 5.

UNL Tradability

18,623
$162.33K
3,554
$30.13K
0.48%
$0.04
-0.10%
2.01% / -2.27%
None
100.00%
50,000
0.07
0.07%
--
79
$9.23
5

UNL Sector Breakdown


UNL
Segment Benchmark
100.00%
100.00%

UNL Top 10 Targeted Commodity Weights

53.82%
29.92%
16.26%
100.00%

UNL Tenor Strategy

UNL's laddered strategy invests in the nearest 12 forward contracts on the natural gas curve.

UNL Rolling Strategy

UNL is rolled over the course of one day.

UNL Performance Statistics

0.83
0.48
0.44
0.58
0.01%