UMI vs. UNG
UMI (USCF Midstream Energy Income Fund ETF) and UNG (United States Natural Gas Fund LP) are both exchange-traded funds - UMI is a Energy Equities fund actively managed by USCF, while UNG is a Oil & Gas fund tracking the Front Month Natural Gas Futures. UMI is actively managed, while UNG is passively managed. Over the past 5 years, UMI returned 22.50%/yr vs -28.82%/yr for UNG. Their 0.17 correlation means their historical movements had little consistent relationship. UMI charges 0.85%/yr vs 1.17%/yr for UNG.
Performance
UMI vs. UNG - Performance Comparison
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Returns By Period
In the year-to-date period, UMI achieves a 26.70% return, which is significantly higher than UNG's -17.94% return.
UMI
- 1D
- 0.50%
- 1M
- 3.72%
- 6M
- 18.07%
- YTD
- 26.70%
- 1Y
- 28.25%
- 3Y*
- 26.23%
- 5Y*
- 22.50%
- 10Y*
- —
- ALL TIME*
- 14.58%
UNG
- 1D
- 0.50%
- 1M
- -13.13%
- 6M
- -40.47%
- YTD
- -17.94%
- 1Y
- -26.14%
- 3Y*
- -28.64%
- 5Y*
- -28.82%
- 10Y*
- -22.61%
- ALL TIME*
- -28.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.28M | $1.03M | $1.15M | |
| $82.18M | $81.43M | $85.25M |
UMI vs. UNG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UMI USCF Midstream Energy Income Fund ETF | 26.70% | 5.11% | 42.97% | 14.60% | 20.78% | 20.97% | -8.25% | 21.06% | -10.64% | 2.76% |
UNG United States Natural Gas Fund LP | -17.94% | -27.07% | -17.11% | -64.04% | 12.89% | 35.76% | -45.43% | -31.77% | 5.96% | -7.61% |
Correlation
The correlation between UMI and UNG is 0.17, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.17 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2017 | 0.17 |
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Return for Risk
UMI vs. UNG — Risk / Return Rank
UMI
UNG
UMI vs. UNG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USCF Midstream Energy Income Fund ETF (UMI) 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.
| UMI | UNG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.39 | ||
| Sortino ratioReturn per unit of downside risk | +2.98 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.96 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | -0.62 | +4.41 |
| Martin ratioReturn relative to average drawdown | 9.51 | -1.04 | +10.54 |
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Drawdowns
UMI vs. UNG - Drawdown Comparison
The maximum UMI drawdown since its inception was -48.08%, smaller than the maximum UNG drawdown of -99.88%. Use the drawdown chart below to compare losses from any high point for UMI and UNG.
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Drawdown Indicators
| UMI | UNG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.08% | -99.88% | +51.80% |
Max Drawdown (1Y)Largest decline over 1 year | -7.50% | -42.01% | +34.51% |
Max Drawdown (3Y)Largest decline over 3 years | -17.08% | -69.26% | +52.18% |
Max Drawdown (5Y)Largest decline over 5 years | -20.05% | -92.75% | +72.70% |
Max Drawdown (10Y)Largest decline over 10 years | — | -93.77% | — |
Current DrawdownCurrent decline from peak | -2.00% | -99.88% | +97.88% |
Average DrawdownAverage peak-to-trough decline | -6.53% | -90.02% | +83.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 25.13% | -22.15% |
Volatility
UMI vs. UNG - Volatility Comparison
The current volatility for USCF Midstream Energy Income Fund ETF (UMI) is 5.19%, while United States Natural Gas Fund LP (UNG) has a volatility of 10.03%. This indicates that UMI 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
| UMI | UNG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 10.03% | -4.84% |
Volatility (6M)Calculated over the trailing 6-month period | 11.67% | 42.08% | -30.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.59% | 59.01% | -44.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.35% | 64.14% | -44.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.10% | 54.70% | -31.60% |
UMI vs. UNG - Expense Ratio Comparison
UMI has a 0.85% expense ratio, which is lower than UNG's 1.17% expense ratio.
Dividends
UMI vs. UNG - Dividend Comparison
UMI's dividend yield for the trailing twelve months is around 5.80%, while UNG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
UMI USCF Midstream Energy Income Fund ETF | 5.80% | 6.23% | 4.39% | 4.67% | 4.36% | 3.00% | 2.18% | 2.47% | 2.48% | 0.15% |
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% |
Frequently Asked Questions
UMI and UNG 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.
UNG has higher volatility (10.03%) compared to UMI (5.19%). In terms of maximum drawdown, UMI dropped -48.08% vs UNG's -99.88%.
On 5-year performance, UMI leads with 22.50% vs -28.82% for UNG. On fees, UMI is cheaper at 0.85% per year. On volatility, UMI has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UMI has performed better with a 22.50% return vs -28.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UMI is cheaper with a 0.85% expense ratio, compared with 1.17% for UNG.
UMI has the higher dividend yield at 5.80%, compared with 0.00% for UNG.
UMI is categorized as Energy Equities, while UNG is Oil & Gas. Their fees differ too: 0.85% for UMI and 1.17% for UNG.
UMI currently has the higher Sharpe Ratio (1.95 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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