NGAS.L vs. SJT

Last updated Jun 4, 2026

NGAS.L (WisdomTree Natural Gas ETF) is Commodities fund tracking the Bloomberg Natural Gas Sub Total Return Index, while SJT (San Juan Basin Royalty Trust) is a stock. Over the past 10 years, NGAS.L returned -23.35%/yr vs 1.02%/yr for SJT. At a 0.22 correlation, their price movements are largely independent.

Performance

NGAS.L vs. SJT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Natural Gas ETF (NGAS.L) and San Juan Basin Royalty Trust (SJT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NGAS.L achieves a -11.49% return, which is significantly higher than SJT's -32.38% return. Over the past 10 years, NGAS.L has underperformed SJT with an annualized return of -23.35%, while SJT has yielded a comparatively higher 1.02% annualized return.

NGAS.L

• 1D: 2.07%
• 1M: 4.84%
• YTD: -11.49%
• 6M: -29.61%
• 1Y: -36.85%
• 3Y*: -25.66%
• 5Y*: -25.67%
• 10Y*: -23.35%

SJT

• 1D: -0.52%
• 1M: -16.48%
• YTD: -32.38%
• 6M: -34.14%
• 1Y: -41.81%
• 3Y*: -21.88%
• 5Y*: 1.16%
• 10Y*: 1.02%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NGAS.L vs. SJT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NGAS.L WisdomTree Natural Gas ETF	-11.49%	-24.72%	-26.18%	-65.28%	20.27%	25.42%	-43.27%	-40.74%	2.93%	-37.77%
SJT San Juan Basin Royalty Trust	-32.38%	46.74%	-22.92%	-50.02%	120.63%	163.80%	11.80%	-45.15%	-38.19%	39.22%

Correlation

The correlation between NGAS.L and SJT is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Sep 28, 2006	0.22

Return for Risk

NGAS.L vs. SJT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NGAS.L

NGAS.L Risk / Return Rank: 3
NGAS.L Sharpe Ratio Rank: 3
NGAS.L Sortino Ratio Rank: 4
NGAS.L Omega Ratio Rank: 4
NGAS.L Calmar Ratio Rank: 2
NGAS.L Martin Ratio Rank: 4

SJT

SJT Risk / Return Rank: 3
SJT Sharpe Ratio Rank: 2
SJT Sortino Ratio Rank: 4
SJT Omega Ratio Rank: 5
SJT Calmar Ratio Rank: 4
SJT Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NGAS.L vs. SJT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Natural Gas ETF (NGAS.L) and San Juan Basin Royalty Trust (SJT). 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.

	NGAS.L	SJT	Difference
Sharpe ratio: Return per unit of total volatility	-0.66	-1.18	+0.51
Sortino ratio: Return per unit of downside risk	-0.75	-1.76	+1.01
Omega ratio: Gain probability vs. loss probability	0.91	0.80	+0.11
Calmar ratio: Return relative to maximum drawdown	-0.77	-0.95	+0.18
Martin ratio: Return relative to average drawdown	-1.11	-1.95	+0.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NGAS.L vs. SJT - Sharpe Ratio Comparison

The current NGAS.L Sharpe Ratio is -0.66, which is higher than the SJT Sharpe Ratio of -1.18. The chart below compares the historical Sharpe Ratios of NGAS.L and SJT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NGAS.L	SJT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.66	-1.18	+0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.44	0.02	-0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.46	0.02	-0.48
Sharpe Ratio (All Time) Calculated using the full available price history	-0.59	0.15	-0.74

Drawdowns

NGAS.L vs. SJT - Drawdown Comparison

The maximum NGAS.L drawdown since its inception was -99.91%, which is greater than SJT's maximum drawdown of -92.82%. Use the drawdown chart below to compare losses from any high point for NGAS.L and SJT.

Drawdown Indicators

	NGAS.L	SJT	Difference
Max Drawdown Largest peak-to-trough decline	-99.91%	-92.82%	-7.09%
Max Drawdown (1Y) Largest decline over 1 year	-47.73%	-44.36%	-3.37%
Max Drawdown (3Y) Largest decline over 3 years	-70.31%	-60.59%	-9.72%
Max Drawdown (5Y) Largest decline over 5 years	-93.13%	-73.47%	-19.66%
Max Drawdown (10Y) Largest decline over 10 years	-94.91%	-81.54%	-13.37%
Current Drawdown Current decline from peak	-99.91%	-73.41%	-26.50%
Average Drawdown Average peak-to-trough decline	-89.09%	-37.64%	-51.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.25%	21.43%	+11.82%

Volatility

NGAS.L vs. SJT - Volatility Comparison

WisdomTree Natural Gas ETF (NGAS.L) and San Juan Basin Royalty Trust (SJT) have volatilities of 11.19% and 11.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NGAS.L	SJT	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.19%	11.26%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	47.23%	23.72%	+23.51%
Volatility (1Y) Calculated over the trailing 1-year period	55.38%	35.61%	+19.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.00%	48.22%	+10.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.65%	49.31%	+1.34%

Dividends

NGAS.L vs. SJT - Dividend Comparison

Neither NGAS.L nor SJT has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NGAS.L WisdomTree Natural Gas ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SJT San Juan Basin Royalty Trust	0.00%	0.00%	2.89%	21.81%	14.58%	12.67%	5.96%	6.85%	8.03%	10.19%	5.05%	8.81%

Frequently Asked Questions

Can I hold both NGAS.L and SJT in my portfolio?

NGAS.L and SJT have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.