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 5.01%/yr vs -7.73%/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 6.94% return, which is significantly higher than UNL's -13.41% return.
KJUL
- 1D
- 0.03%
- 1M
- 0.80%
- YTD
- 6.94%
- 6M
- 6.28%
- 1Y
- 18.43%
- 3Y*
- 11.12%
- 5Y*
- 5.01%
- 10Y*
- —
UNL
- 1D
- -1.92%
- 1M
- 1.75%
- YTD
- -13.41%
- 6M
- -15.14%
- 1Y
- -30.69%
- 3Y*
- -17.95%
- 5Y*
- -7.73%
- 10Y*
- -4.56%
KJUL vs. UNL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
KJUL Innovator Russell 2000 Power Buffer ETF - July | 6.94% | 7.70% | 8.69% | 11.78% | -8.44% | 2.51% | 10.84% |
UNL United States 12 Month Natural Gas Fund LP | -13.41% | -9.67% | -4.78% | -50.20% | 47.01% | 54.42% | 0.13% |
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 | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 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.
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.
| KJUL | UNL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.26 | ||
| Sortino ratioReturn per unit of downside risk | +4.70 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 0.86 | +0.63 |
| Calmar ratioReturn relative to maximum drawdown | 5.41 | -0.95 | +6.35 |
| Martin ratioReturn relative to average drawdown | 20.98 | -1.52 | +22.51 |
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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% | -32.43% | +29.01% |
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 | 0.00% | -88.68% | +88.68% |
Average DrawdownAverage peak-to-trough decline | -3.97% | -73.39% | +69.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 20.45% | -19.57% |
Volatility
KJUL vs. UNL - Volatility Comparison
The current volatility for Innovator Russell 2000 Power Buffer ETF - July (KJUL) is 0.40%, while United States 12 Month Natural Gas Fund LP (UNL) has a volatility of 7.26%. 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 | 0.40% | 7.26% | -6.86% |
Volatility (6M)Calculated over the trailing 6-month period | 4.60% | 30.37% | -25.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.75% | 35.76% | -28.01% |
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 | 11.62% | 33.86% | -22.24% |
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 (7.26%) compared to KJUL (0.40%). In terms of maximum drawdown, KJUL dropped -16.69% vs UNL's -89.00%.
On 5-year performance, KJUL leads with 5.01% vs -7.73% for UNL. On fees, KJUL is cheaper at 0.79% per year. On volatility, KJUL has been the lower-risk option at 0.40%. 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 5.01% return vs -7.73%. 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 (2.40 vs -0.86), 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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