UNG vs. LNG
UNG (United States Natural Gas Fund LP) is Oil & Gas fund tracking the Front Month Natural Gas Futures, while LNG (Cheniere Energy, Inc.) is a stock. Over the past 10 years, UNG returned -22.61%/yr vs 21.52%/yr for LNG. Their 0.12 correlation means their historical movements had little consistent relationship.
Performance
UNG vs. LNG - Performance Comparison
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Returns By Period
In the year-to-date period, UNG achieves a -17.94% return, which is significantly lower than LNG's 36.26% return. Over the past 10 years, UNG has underperformed LNG with an annualized return of -22.61%, while LNG has yielded a comparatively higher 21.52% annualized 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%
LNG
- 1D
- 2.14%
- 1M
- 7.16%
- 6M
- 25.23%
- YTD
- 36.26%
- 1Y
- 11.68%
- 3Y*
- 19.21%
- 5Y*
- 26.62%
- 10Y*
- 21.52%
- ALL TIME*
- 12.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $449.81M | $470.16M | $533.59M | |
| $82.18M | $81.43M | $85.25M |
UNG vs. LNG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | -37.58% |
LNG Cheniere Energy, Inc. | 36.26% | -8.70% | 27.18% | 15.02% | 49.30% | 69.48% | -1.70% | 3.18% | 9.94% | 29.95% |
Correlation
The correlation between UNG and LNG is 0.15, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.15 |
Correlation (3Y) Balances recent behavior with more history. | 0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.18 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.12 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2007 | 0.12 |
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Return for Risk
UNG vs. LNG — Risk / Return Rank
UNG
LNG
UNG vs. LNG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Natural Gas Fund LP (UNG) and Cheniere Energy, Inc. (LNG). 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 | LNG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.16 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.10 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.62 | 0.54 | -1.16 |
| Martin ratioReturn relative to average drawdown | -1.04 | 1.00 | -2.04 |
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Drawdowns
UNG vs. LNG - Drawdown Comparison
The maximum UNG drawdown since its inception was -99.88%, roughly equal to the maximum LNG drawdown of -97.84%. Use the drawdown chart below to compare losses from any high point for UNG and LNG.
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Drawdown Indicators
| UNG | LNG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.88% | -97.84% | -2.04% |
Max Drawdown (1Y)Largest decline over 1 year | -42.01% | -24.09% | -17.92% |
Max Drawdown (3Y)Largest decline over 3 years | -69.26% | -24.87% | -44.39% |
Max Drawdown (5Y)Largest decline over 5 years | -92.75% | -24.87% | -67.88% |
Max Drawdown (10Y)Largest decline over 10 years | -93.77% | -57.53% | -36.24% |
Current DrawdownCurrent decline from peak | -99.88% | -11.02% | -88.86% |
Average DrawdownAverage peak-to-trough decline | -90.02% | -43.02% | -47.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.13% | 12.86% | +12.27% |
Volatility
UNG vs. LNG - Volatility Comparison
United States Natural Gas Fund LP (UNG) has a higher volatility of 10.03% compared to Cheniere Energy, Inc. (LNG) at 9.48%. This indicates that UNG's price experiences larger fluctuations and is considered to be riskier than LNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UNG | LNG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.03% | 9.48% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 42.08% | 23.32% | +18.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.01% | 26.45% | +32.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 64.14% | 30.42% | +33.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.70% | 32.28% | +22.42% |
Dividends
UNG vs. LNG - Dividend Comparison
UNG has not paid dividends to shareholders, while LNG's dividend yield for the trailing twelve months is around 0.82%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
LNG Cheniere Energy, Inc. | 0.82% | 1.06% | 0.84% | 0.95% | 0.92% | 0.33% |
UNG United States Natural Gas Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UNG and LNG have a correlation of 0.15, 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 LNG (9.48%). In terms of maximum drawdown, UNG dropped -99.88% vs LNG's -97.84%.
LNG currently has the higher Sharpe Ratio (0.49 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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