Market Data
United States Natural Gas Fund, LP (UNG) is a commodities focused exchange-traded fund from USCF Investments, launched Apr 18, 2007. The fund charges an expense ratio of 1.17% a year and holds $458M in assets.
Holdings & Allocation
Behaviour On Record
United States Natural Gas Fund, LP is currently running 42.5% annualised volatility over the last 21 sessions. Measured against UNG's own 13 years of daily returns rather than a market-wide average, that is the 49th percentile — close to its own typical level, against a typical reading of 43.2%.
UNG is trading -97.7% below its running peak. Across 13 full years on file, its median worst-drawdown-in-a-year was -46.2%, and the deepest was -65.6% in 2023. The current drawdown is already deeper than this fund's typical annual low point, which puts it in the part of its range where past recoveries began, and where past declines also continued.
Price sits -9.2% from its 200-day moving average. Against every other day in its history, that gap ranks at the 57th percentile — a somewhat wider gap than its own norm. Over the past year UNG closed higher on 48% of sessions, and it is currently 1 session into a falling streak.
On October specifically: over 13 years of records, UNG finished the month higher 5 of 13 times, with a median return of -3.5% and an average of -2.3%. Its strongest month historically has been August at +5.1% on average, its weakest December at -8.7%.
Overnight risk is measurable too: UNG has opened more than 2% away from the prior close in 331 of 3,268 sessions (10.1% of the time), with the largest gaps running +12.6% and -18.0%.
All figures computed from 3,269 daily closes between 2013-10-22 and 2026-10-21, split-adjusted, recomputed daily. Percentiles are against UNG's own 13-year history, not a peer group or index.
News & sentiment
UNG fell 9.4% over the month to Oct 22. News tone held between 46 and 100 from Sep 22 to Oct 15, then dropped to 44 on Oct 19.
Technical analysis
On the daily chart UNG ranks at the 20th percentile for momentum against 1,059 stocks and ETFs, a bearish reading.
Institutional ownership
7 of the 25 tracked managers added to UNG in their latest 13F and 15 trimmed. Together their positions are worth $35.4M.
Discover more
Over the six months to Oct 22, UNG returned −9.7%. Of the 4 related stocks and ETFs, 2 did better, led by USO at +25.8%.
