UNG vs. KJUL
UNG (United States Natural Gas Fund LP) and KJUL (Innovator Russell 2000 Power Buffer ETF - July) are both exchange-traded funds - UNG is a Oil & Gas fund tracking the Front Month Natural Gas Futures, while KJUL is a Defined Outcome fund tracking the iShares Russell 2000 ETF. Both are passively managed. Over the past 5 years, UNG returned -28.82%/yr vs 5.16%/yr for KJUL. Their 0.02 correlation means their historical movements had little consistent relationship. UNG charges 1.17%/yr vs 0.79%/yr for KJUL.
Performance
UNG vs. KJUL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, UNG achieves a -17.94% return, which is significantly lower than KJUL's 5.90% return.
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%
KJUL
- 1D
- -0.30%
- 1M
- -0.80%
- 6M
- 3.94%
- YTD
- 5.90%
- 1Y
- 14.97%
- 3Y*
- 8.31%
- 5Y*
- 5.16%
- 10Y*
- —
- ALL TIME*
- 6.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.73M | $5.07M | $2.30M | |
| $82.18M | $81.43M | $85.25M |
UNG vs. KJUL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UNG United States Natural Gas Fund LP | -17.94% | -27.07% | -17.11% | -64.04% | 12.89% | 35.76% | -10.33% |
KJUL Innovator Russell 2000 Power Buffer ETF - July | 5.90% | 7.70% | 8.69% | 11.78% | -8.44% | 2.51% | 10.84% |
Correlation
The correlation between UNG and KJUL is -0.29, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.29 |
Correlation (3Y) Balances recent behavior with more history. | -0.07 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2020 | 0.02 |
The correlation between UNG and KJUL shifts across timeframes, from -0.29 (1 year) to 0.03 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
UNG vs. KJUL — Risk / Return Rank
UNG
KJUL
UNG vs. KJUL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Natural Gas Fund LP (UNG) and Innovator Russell 2000 Power Buffer ETF - July (KJUL). 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.
| UNG | KJUL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.38 | ||
| Sortino ratioReturn per unit of downside risk | -3.23 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.39 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.62 | 4.13 | -4.75 |
| Martin ratioReturn relative to average drawdown | -1.04 | 16.17 | -17.21 |
Loading charts...
Drawdowns
UNG vs. KJUL - Drawdown Comparison
The maximum UNG drawdown since its inception was -99.88%, which is greater than KJUL's maximum drawdown of -16.69%. Use the drawdown chart below to compare losses from any high point for UNG and KJUL.
Loading charts...
Drawdown Indicators
| UNG | KJUL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.88% | -16.69% | -83.19% |
Max Drawdown (1Y)Largest decline over 1 year | -42.01% | -3.42% | -38.59% |
Max Drawdown (3Y)Largest decline over 3 years | -69.26% | -14.45% | -54.81% |
Max Drawdown (5Y)Largest decline over 5 years | -92.75% | -16.69% | -76.06% |
Max Drawdown (10Y)Largest decline over 10 years | -93.77% | — | — |
Current DrawdownCurrent decline from peak | -99.88% | -1.18% | -98.70% |
Average DrawdownAverage peak-to-trough decline | -90.02% | -3.91% | -86.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.13% | 0.87% | +24.26% |
Volatility
UNG vs. KJUL - Volatility Comparison
United States Natural Gas Fund LP (UNG) has a higher volatility of 10.03% compared to Innovator Russell 2000 Power Buffer ETF - July (KJUL) at 2.03%. This indicates that UNG's price experiences larger fluctuations and is considered to be riskier than KJUL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| UNG | KJUL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.03% | 2.03% | +8.00% |
Volatility (6M)Calculated over the trailing 6-month period | 42.08% | 4.80% | +37.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.01% | 7.32% | +51.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 64.14% | 12.27% | +51.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.70% | 11.55% | +43.15% |
UNG vs. KJUL - Expense Ratio Comparison
UNG has a 1.17% expense ratio, which is higher than KJUL's 0.79% expense ratio.
Dividends
UNG vs. KJUL - Dividend Comparison
Neither UNG nor KJUL has paid dividends to shareholders.
Frequently Asked Questions
UNG and KJUL have a correlation of -0.29, 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 KJUL (2.03%). In terms of maximum drawdown, UNG dropped -99.88% vs KJUL's -16.69%.
On 5-year performance, KJUL leads with 5.16% vs -28.82% for UNG. On fees, KJUL is cheaper at 0.79% per year. On volatility, KJUL has been the lower-risk option at 2.03%. 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 5.16% return vs -28.82%. 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 1.17% for UNG.
UNG and KJUL have nearly identical dividend yields, around 0.00%.
UNG is categorized as Oil & Gas, while KJUL is Defined Outcome. UNG tracks Front Month Natural Gas Futures, while KJUL tracks iShares Russell 2000 ETF. They also come from different issuers: USCF and Innovator. Their fees differ too: 1.17% for UNG and 0.79% for KJUL.
KJUL currently has the higher Sharpe Ratio (1.94 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.
Find the right allocation for UNG and KJUL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer