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, while KJUL is a Defined Outcome fund tracking the iShares Russell 2000 ETF. Both are passively managed. Over the past 5 years, UNG returned -22.57%/yr vs 4.93%/yr for KJUL. At a 0.02 correlation, their price movements are largely independent. UNG charges 1.28%/yr vs 0.79%/yr for KJUL.
Performance
UNG vs. KJUL - Performance Comparison
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Returns By Period
In the year-to-date period, UNG achieves a -1.14% return, which is significantly lower than KJUL's 6.53% return.
UNG
- 1D
- 3.50%
- 1M
- 13.91%
- YTD
- -1.14%
- 6M
- -22.61%
- 1Y
- -28.33%
- 3Y*
- -21.15%
- 5Y*
- -22.57%
- 10Y*
- -20.42%
KJUL
- 1D
- 0.00%
- 1M
- 0.84%
- YTD
- 6.53%
- 6M
- 6.73%
- 1Y
- 18.90%
- 3Y*
- 11.07%
- 5Y*
- 4.93%
- 10Y*
- —
UNG vs. KJUL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UNG United States Natural Gas Fund LP | -1.14% | -27.07% | -17.11% | -64.04% | 12.89% | 35.76% | -6.98% |
KJUL Innovator Russell 2000 Power Buffer ETF - July | 6.53% | 7.70% | 8.69% | 11.78% | -8.44% | 2.51% | 11.61% |
Correlation
The correlation between UNG and KJUL is -0.30, 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 | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2020 | 0.02 |
The correlation between UNG and KJUL shifts across timeframes, from -0.30 (1 year) to 0.03 (5 years), reflecting how their relationship changes across market environments.
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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.
| UNG | KJUL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.85 | ||
| Sortino ratioReturn per unit of downside risk | -3.87 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.47 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.65 | 5.54 | -6.19 |
| Martin ratioReturn relative to average drawdown | -0.95 | 20.49 | -21.45 |
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
| UNG | KJUL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.47 | 2.38 | -2.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.35 | 0.40 | -0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.37 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.57 | 0.57 | -1.14 |
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.
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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 | -43.86% | -3.42% | -40.44% |
Max Drawdown (3Y)Largest decline over 3 years | -68.16% | -14.45% | -53.71% |
Max Drawdown (5Y)Largest decline over 5 years | -92.49% | -16.69% | -75.80% |
Max Drawdown (10Y)Largest decline over 10 years | -93.55% | — | — |
Current DrawdownCurrent decline from peak | -99.85% | -0.10% | -99.75% |
Average DrawdownAverage peak-to-trough decline | -89.96% | -4.00% | -85.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.75% | 0.92% | +28.83% |
Volatility
UNG vs. KJUL - Volatility Comparison
United States Natural Gas Fund LP (UNG) has a higher volatility of 12.99% compared to Innovator Russell 2000 Power Buffer ETF - July (KJUL) at 0.55%. 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.
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Volatility by Period
| UNG | KJUL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.99% | 0.55% | +12.44% |
Volatility (6M)Calculated over the trailing 6-month period | 53.06% | 4.77% | +48.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.59% | 7.99% | +52.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 64.11% | 12.31% | +51.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.78% | 11.67% | +43.11% |
UNG vs. KJUL - Expense Ratio Comparison
UNG has a 1.28% 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 -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UNG has higher volatility (12.99%) compared to KJUL (0.55%). In terms of maximum drawdown, UNG dropped -99.88% vs KJUL's -16.69%.
On 5-year performance, KJUL leads with 4.93% vs -22.57% for UNG. On fees, KJUL is cheaper at 0.79% per year. On volatility, KJUL has been the lower-risk option at 0.55%. 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 -22.57%. 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 1.28% 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, while KJUL tracks iShares Russell 2000 ETF. They also come from different issuers: Concierge Technologies and Innovator. Their fees differ too: 1.28% for UNG and 0.79% for KJUL.
KJUL currently has the higher Sharpe Ratio (2.38 vs -0.47), 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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