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

Note: The issuer has temporarily suspended creations for this fund as of Mar 22, 2016 pending the filing of new paperwork with the SEC. This action could create unusual or excessive premiums— an increase of the market price of the fund relative to its fair value. Redemptions are not affected. Trade with care; check iNAV vs. price.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, our benchmark—as well as UNL's sister fund UNG—offers exposure to the next-nearest month. This approach has generally helped returns over the past 12 months, and our forward estimate of decay suggests that that may continue going forward. The fund has enough assets to lower its risk of closure. UNL can be fairly traded with some effort: Use limit orders to manage spreads. UNL's legal structure isn't at all unusual in the commodities space, but it does change the tax structure and result in a K-1 at tax time.

UNL Charts And Performance

Price Chart ($)
Total Return Chart (%)
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
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Select ETFs to compare their performance:
PERFORMANCE [as of 12/04/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
UNL -5.66% -2.94% -16.94% -23.67% -7.65% -12.13% -15.53%
UNL (NAV) -9.61% -5.68% -16.59% -25.53% -7.78% -11.71% -15.75%
12 Month Natural Gas -- -- -- -- -- -- -15.75%
S&P GSCI Natural Gas Index -17.60% -13.95% -26.01% -49.62% -18.84% -23.76% -22.98%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

UNL Summary Data

11/18/09
Commodities Pool
0.88%
$3.85M
$16.41K
0.59%

UNL Portfolio Data

Futures
Laddered
N/A
29

UNL Index Data

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

UNL Portfolio Management

0.88%
--
--
--

UNL Tax Exposures

27.84% / 27.84%
--
Yes

UNL Fund Structure

Commodities Pool
No
N/A
N/A
N/A
High
Daily
Cboe Book Viewer
Top Of Book
Last 10 Trades
Bats BZX Real-time Quote -

UNL Factset Analytics Block Liquidity

As of 12/05/19
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

1,832
$16.41K
1,454
$12.99K
0.59%
$0.05
-0.05%
1.57% / -1.77%
None
100.00%
50,000
0.03
0.08%
--
3
$8.56
5

UNL Sector Breakdown


UNL
Segment Benchmark
100.00%
100.00%

UNL Top 10 Targeted Commodity Weights[View All]

99.94%
10.39%
5.19%
5.18%
5.17%
5.16%
2.60%
2.60%
2.60%
2.59%
141.42%

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

0.86
0.49
0.44
0.58
0.01%