UNG vs. SDCI
UNG (United States Natural Gas Fund LP) and SDCI (USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund) are both exchange-traded funds - UNG is a Oil & Gas fund tracking the Front Month Natural Gas Futures, while SDCI is a Commodities fund tracking the SummerHaven Dynamic Commodity Index Total Return. Both are passively managed. Over the past 5 years, UNG returned -27.30%/yr vs 20.42%/yr for SDCI. At a 0.17 correlation, their price movements are largely independent. UNG charges 1.17%/yr vs 0.60%/yr for SDCI.
Performance
UNG vs. SDCI - Performance Comparison
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Returns By Period
In the year-to-date period, UNG achieves a -15.01% return, which is significantly lower than SDCI's 27.96% return.
UNG
- 1D
- -1.23%
- 1M
- -11.39%
- 6M
- 1.17%
- YTD
- -15.01%
- 1Y
- -34.05%
- 3Y*
- -27.27%
- 5Y*
- -27.30%
- 10Y*
- -22.23%
SDCI
- 1D
- -0.60%
- 1M
- 4.91%
- 6M
- 22.03%
- YTD
- 27.96%
- 1Y
- 33.49%
- 3Y*
- 21.67%
- 5Y*
- 20.42%
- 10Y*
- —
UNG vs. SDCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
UNG United States Natural Gas Fund LP | -15.01% | -27.07% | -17.11% | -64.04% | 12.89% | 35.76% | -45.43% | -31.77% | 9.92% |
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 27.96% | 17.60% | 17.91% | -0.88% | 33.23% | 36.52% | -10.61% | -2.36% | -13.91% |
Correlation
The correlation between UNG and SDCI is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since May 3, 2018 | 0.17 |
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Return for Risk
UNG vs. SDCI — Risk / Return Rank
UNG
SDCI
UNG vs. SDCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Natural Gas Fund LP (UNG) and USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI). 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 | SDCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.53 | ||
| Sortino ratioReturn per unit of downside risk | -3.17 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.33 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 3.05 | -3.91 |
| Martin ratioReturn relative to average drawdown | -1.32 | 9.53 | -10.85 |
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Drawdowns
UNG vs. SDCI - Drawdown Comparison
The maximum UNG drawdown since its inception was -99.88%, which is greater than SDCI's maximum drawdown of -45.79%. Use the drawdown chart below to compare losses from any high point for UNG and SDCI.
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Drawdown Indicators
| UNG | SDCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.88% | -45.79% | -54.09% |
Max Drawdown (1Y)Largest decline over 1 year | -39.94% | -11.03% | -28.91% |
Max Drawdown (3Y)Largest decline over 3 years | -68.16% | -11.96% | -56.20% |
Max Drawdown (5Y)Largest decline over 5 years | -92.49% | -18.55% | -73.94% |
Max Drawdown (10Y)Largest decline over 10 years | -93.55% | — | — |
Current DrawdownCurrent decline from peak | -99.87% | -3.76% | -96.11% |
Average DrawdownAverage peak-to-trough decline | -90.00% | -11.52% | -78.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.76% | 3.52% | +22.24% |
Volatility
UNG vs. SDCI - Volatility Comparison
United States Natural Gas Fund LP (UNG) has a higher volatility of 10.58% compared to USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI) at 5.27%. This indicates that UNG's price experiences larger fluctuations and is considered to be riskier than SDCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UNG | SDCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.58% | 5.27% | +5.31% |
Volatility (6M)Calculated over the trailing 6-month period | 48.34% | 14.59% | +33.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.59% | 17.16% | +42.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 64.19% | 18.43% | +45.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.74% | 17.08% | +37.66% |
UNG vs. SDCI - Expense Ratio Comparison
UNG has a 1.17% expense ratio, which is higher than SDCI's 0.60% expense ratio.
Dividends
UNG vs. SDCI - Dividend Comparison
UNG has not paid dividends to shareholders, while SDCI's dividend yield for the trailing twelve months is around 2.88%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 2.88% | 3.68% | 5.92% | 3.46% | 33.49% | 19.26% | 0.20% | 0.93% | 0.68% |
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% |
Frequently Asked Questions
UNG and SDCI have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UNG has higher volatility (10.58%) compared to SDCI (5.27%). In terms of maximum drawdown, UNG dropped -99.88% vs SDCI's -45.79%.
On 5-year performance, SDCI leads with 20.42% vs -27.30% for UNG. On fees, SDCI is cheaper at 0.60% per year. On volatility, SDCI has been the lower-risk option at 5.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SDCI has performed better with a 20.42% return vs -27.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SDCI is cheaper with a 0.60% expense ratio, compared with 1.17% for UNG.
SDCI has the higher dividend yield at 2.88%, compared with 0.00% for UNG.
UNG is categorized as Oil & Gas, while SDCI is Commodities. UNG tracks Front Month Natural Gas Futures, while SDCI tracks SummerHaven Dynamic Commodity Index Total Return. Their fees differ too: 1.17% for UNG and 0.60% for SDCI.
SDCI currently has the higher Sharpe Ratio (1.96 vs -0.57), 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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