KJUL vs. UNL
KJUL (Innovator Russell 2000 Power Buffer ETF - July) and UNL (United States 12 Month Natural Gas Fund LP) are both exchange-traded funds - KJUL is a Defined Outcome fund tracking the iShares Russell 2000 ETF, while UNL is a Oil & Gas fund tracking the 12 Month Natural Gas. Both are passively managed. Over the past 5 years, KJUL returned 4.93%/yr vs -5.77%/yr for UNL. At a 0.01 correlation, their price movements are largely independent. KJUL charges 0.79%/yr vs 0.90%/yr for UNL.
Performance
KJUL vs. UNL - Performance Comparison
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Returns By Period
In the year-to-date period, KJUL achieves a 6.53% return, which is significantly higher than UNL's -11.00% return.
KJUL
- 1D
- -0.10%
- 1M
- 1.15%
- YTD
- 6.53%
- 6M
- 7.06%
- 1Y
- 18.66%
- 3Y*
- 10.66%
- 5Y*
- 4.93%
- 10Y*
- —
UNL
- 1D
- 1.21%
- 1M
- -1.96%
- YTD
- -11.00%
- 6M
- -23.47%
- 1Y
- -28.37%
- 3Y*
- -14.70%
- 5Y*
- -5.77%
- 10Y*
- -3.81%
KJUL vs. UNL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
KJUL Innovator Russell 2000 Power Buffer ETF - July | 6.53% | 7.70% | 8.69% | 11.78% | -8.44% | 2.51% | 11.61% |
UNL United States 12 Month Natural Gas Fund LP | -11.00% | -9.67% | -4.78% | -50.20% | 47.01% | 54.42% | 0.53% |
Correlation
The correlation between KJUL and UNL is -0.31, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2020 | 0.01 |
The correlation between KJUL and UNL shifts across timeframes, from -0.31 (1 year) to 0.02 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
KJUL vs. UNL — Risk / Return Rank
KJUL
UNL
KJUL vs. UNL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Russell 2000 Power Buffer ETF - July (KJUL) and United States 12 Month Natural Gas Fund LP (UNL). 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.
| KJUL | UNL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.14 | ||
| Sortino ratioReturn per unit of downside risk | +4.47 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 0.87 | +0.58 |
| Calmar ratioReturn relative to maximum drawdown | 5.47 | -0.81 | +6.28 |
| Martin ratioReturn relative to average drawdown | 20.24 | -1.30 | +21.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KJUL | UNL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.35 | -0.79 | +3.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | -0.14 | +0.54 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | -0.40 | +0.96 |
Drawdowns
KJUL vs. UNL - Drawdown Comparison
The maximum KJUL drawdown since its inception was -16.69%, smaller than the maximum UNL drawdown of -89.00%. Use the drawdown chart below to compare losses from any high point for KJUL and UNL.
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Drawdown Indicators
| KJUL | UNL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.69% | -89.00% | +72.31% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -35.11% | +31.69% |
Max Drawdown (3Y)Largest decline over 3 years | -14.45% | -48.16% | +33.71% |
Max Drawdown (5Y)Largest decline over 5 years | -16.69% | -78.12% | +61.43% |
Max Drawdown (10Y)Largest decline over 10 years | — | -78.12% | — |
Current DrawdownCurrent decline from peak | -0.10% | -88.37% | +88.27% |
Average DrawdownAverage peak-to-trough decline | -4.00% | -73.36% | +69.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 21.92% | -21.00% |
Volatility
KJUL vs. UNL - Volatility Comparison
The current volatility for Innovator Russell 2000 Power Buffer ETF - July (KJUL) is 0.61%, while United States 12 Month Natural Gas Fund LP (UNL) has a volatility of 8.36%. This indicates that KJUL experiences smaller price fluctuations and is considered to be less risky than UNL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KJUL | UNL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 8.36% | -7.75% |
Volatility (6M)Calculated over the trailing 6-month period | 4.77% | 32.00% | -27.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.06% | 35.82% | -27.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.31% | 41.76% | -29.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.67% | 33.84% | -22.17% |
KJUL vs. UNL - Expense Ratio Comparison
KJUL has a 0.79% expense ratio, which is lower than UNL's 0.90% expense ratio.
Dividends
KJUL vs. UNL - Dividend Comparison
Neither KJUL nor UNL has paid dividends to shareholders.
Frequently Asked Questions
KJUL and UNL have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UNL has higher volatility (8.36%) compared to KJUL (0.61%). In terms of maximum drawdown, KJUL dropped -16.69% vs UNL's -89.00%.
On 5-year performance, KJUL leads with 4.93% vs -5.77% for UNL. On fees, KJUL is cheaper at 0.79% per year. On volatility, KJUL has been the lower-risk option at 0.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KJUL has performed better with a 4.93% return vs -5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KJUL is cheaper with a 0.79% expense ratio, compared with 0.90% for UNL.
KJUL and UNL have nearly identical dividend yields, around 0.00%.
KJUL is categorized as Defined Outcome, while UNL is Oil & Gas. KJUL tracks iShares Russell 2000 ETF, while UNL tracks 12 Month Natural Gas. They also come from different issuers: Innovator and Concierge Technologies. Their fees differ too: 0.79% for KJUL and 0.90% for UNL.
KJUL currently has the higher Sharpe Ratio (2.35 vs -0.79), 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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