COMT vs. UNG
COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) and UNG (United States Natural Gas Fund LP) are both exchange-traded funds - COMT is a Commodities fund tracking the S&P GSCI Dynamic Roll (USD) Total Return Index, while UNG is a Oil & Gas fund tracking the Front Month Natural Gas Futures. Both are passively managed. Over the past 10 years, COMT returned 8.65%/yr vs -22.65%/yr for UNG. Their 0.20 correlation means their historical movements had little consistent relationship. COMT charges 0.48%/yr vs 1.17%/yr for UNG.
Performance
COMT vs. UNG - Performance Comparison
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Returns By Period
In the year-to-date period, COMT achieves a 29.71% return, which is significantly higher than UNG's -17.54% return. Over the past 10 years, COMT has outperformed UNG with an annualized return of 8.65%, while UNG has yielded a comparatively lower -22.65% annualized return.
COMT
- 1D
- -1.07%
- 1M
- 6.95%
- 6M
- 22.67%
- YTD
- 29.71%
- 1Y
- 32.33%
- 3Y*
- 10.69%
- 5Y*
- 11.95%
- 10Y*
- 8.65%
- ALL TIME*
- 3.32%
UNG
- 1D
- 0.50%
- 1M
- -12.69%
- 6M
- -20.39%
- YTD
- -17.54%
- 1Y
- -25.77%
- 3Y*
- -28.62%
- 5Y*
- -29.56%
- 10Y*
- -22.65%
- ALL TIME*
- -28.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.37M | $10.68M | $14.03M | |
| $81.89M | $81.97M | $83.57M |
COMT vs. UNG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 29.71% | 6.07% | 5.96% | -6.56% | 19.45% | 36.88% | -18.66% | 10.81% | -6.67% | 11.70% |
UNG United States Natural Gas Fund LP | -17.54% | -27.07% | -17.11% | -64.04% | 12.89% | 35.76% | -45.43% | -31.77% | 5.96% | -37.58% |
Correlation
The correlation between COMT and UNG is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.20 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2014 | 0.20 |
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Return for Risk
COMT vs. UNG — Risk / Return Rank
COMT
UNG
COMT vs. UNG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) and United States Natural Gas Fund LP (UNG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| COMT | UNG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.94 | ||
| Sortino ratioReturn per unit of downside risk | +2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.96 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | -0.62 | +2.46 |
| Martin ratioReturn relative to average drawdown | 5.74 | -1.02 | +6.76 |
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Drawdowns
COMT vs. UNG - Drawdown Comparison
The maximum COMT drawdown since its inception was -51.89%, smaller than the maximum UNG drawdown of -99.88%. Use the drawdown chart below to compare losses from any high point for COMT and UNG.
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Drawdown Indicators
| COMT | UNG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.89% | -99.88% | +47.99% |
Max Drawdown (1Y)Largest decline over 1 year | -17.57% | -42.01% | +24.44% |
Max Drawdown (3Y)Largest decline over 3 years | -17.57% | -69.26% | +51.69% |
Max Drawdown (5Y)Largest decline over 5 years | -29.00% | -92.75% | +63.75% |
Max Drawdown (10Y)Largest decline over 10 years | -39.22% | -93.77% | +54.55% |
Current DrawdownCurrent decline from peak | -11.61% | -99.88% | +88.27% |
Average DrawdownAverage peak-to-trough decline | -23.90% | -90.03% | +66.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.65% | 25.26% | -19.61% |
Volatility
COMT vs. UNG - Volatility Comparison
The current volatility for iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) is 5.28%, while United States Natural Gas Fund LP (UNG) has a volatility of 10.03%. This indicates that COMT experiences smaller price fluctuations and is considered to be less risky than UNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COMT | UNG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.28% | 10.03% | -4.75% |
Volatility (6M)Calculated over the trailing 6-month period | 19.54% | 40.36% | -20.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.66% | 59.10% | -37.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.10% | 64.16% | -43.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.86% | 54.70% | -35.84% |
COMT vs. UNG - Expense Ratio Comparison
COMT has a 0.48% expense ratio, which is lower than UNG's 1.17% expense ratio.
Dividends
COMT vs. UNG - Dividend Comparison
COMT's dividend yield for the trailing twelve months is around 5.97%, while UNG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 5.97% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
UNG United States Natural Gas Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
COMT and UNG have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UNG has higher volatility (10.03%) compared to COMT (5.28%). In terms of maximum drawdown, COMT dropped -51.89% vs UNG's -99.88%.
On 10-year performance, COMT leads with 8.65% vs -22.65% for UNG. On fees, COMT is cheaper at 0.48% per year. On volatility, COMT has been the lower-risk option at 5.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, COMT has performed better with a 8.65% return vs -22.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMT is cheaper with a 0.48% expense ratio, compared with 1.17% for UNG.
COMT has the higher dividend yield at 5.97%, compared with 0.00% for UNG.
COMT is categorized as Commodities, while UNG is Oil & Gas. COMT tracks S&P GSCI Dynamic Roll (USD) Total Return Index, while UNG tracks Front Month Natural Gas Futures. They also come from different issuers: iShares and USCF. Their fees differ too: 0.48% for COMT and 1.17% for UNG.
COMT currently has the higher Sharpe Ratio (1.50 vs -0.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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