UNL vs. LNG
UNL (United States 12 Month Natural Gas Fund LP) is Oil & Gas fund tracking the 12 Month Natural Gas, while LNG (Cheniere Energy, Inc.) is a stock. Over the past 10 years, UNL returned -5.25%/yr vs 20.44%/yr for LNG. Their 0.11 correlation means their historical movements had little consistent relationship.
Performance
UNL vs. LNG - Performance Comparison
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Returns By Period
In the year-to-date period, UNL achieves a -18.43% return, which is significantly lower than LNG's 33.42% return. Over the past 10 years, UNL has underperformed LNG with an annualized return of -5.25%, while LNG has yielded a comparatively higher 20.44% annualized return.
UNL
- 1D
- 0.11%
- 1M
- -5.05%
- 6M
- -17.42%
- YTD
- -18.43%
- 1Y
- -25.86%
- 3Y*
- -18.35%
- 5Y*
- -11.98%
- 10Y*
- -5.25%
- ALL TIME*
- -12.55%
LNG
- 1D
- -2.08%
- 1M
- 4.92%
- 6M
- 24.84%
- YTD
- 33.42%
- 1Y
- 9.36%
- 3Y*
- 17.64%
- 5Y*
- 25.94%
- 10Y*
- 20.44%
- ALL TIME*
- 12.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $447.58M | $465.79M | $529.75M | |
| $201.90K | $282.26K | $431.49K |
UNL vs. LNG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UNL United States 12 Month Natural Gas Fund LP | -18.43% | -9.67% | -4.78% | -50.20% | 47.01% | 54.42% | -9.54% | -18.78% | 12.53% | -21.47% |
LNG Cheniere Energy, Inc. | 33.42% | -8.70% | 27.18% | 15.02% | 49.30% | 69.48% | -1.70% | 3.18% | 9.94% | 29.95% |
Correlation
The correlation between UNL and LNG is 0.18, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.18 |
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 Jan 4, 2010 | 0.11 |
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Return for Risk
UNL vs. LNG — Risk / Return Rank
UNL
LNG
UNL vs. LNG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States 12 Month Natural Gas Fund LP (UNL) 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.
| UNL | LNG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.08 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 0.39 | -1.17 |
| Martin ratioReturn relative to average drawdown | -1.32 | 0.73 | -2.05 |
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Drawdowns
UNL vs. LNG - Drawdown Comparison
The maximum UNL drawdown since its inception was -89.48%, smaller than the maximum LNG drawdown of -97.84%. Use the drawdown chart below to compare losses from any high point for UNL and LNG.
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Drawdown Indicators
| UNL | LNG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.48% | -97.84% | +8.36% |
Max Drawdown (1Y)Largest decline over 1 year | -33.33% | -24.09% | -9.24% |
Max Drawdown (3Y)Largest decline over 3 years | -50.42% | -24.87% | -25.55% |
Max Drawdown (5Y)Largest decline over 5 years | -79.07% | -24.87% | -54.20% |
Max Drawdown (10Y)Largest decline over 10 years | -79.07% | -57.53% | -21.54% |
Current DrawdownCurrent decline from peak | -89.34% | -12.88% | -76.46% |
Average DrawdownAverage peak-to-trough decline | -73.49% | -43.01% | -30.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.64% | 12.89% | +6.75% |
Volatility
UNL vs. LNG - Volatility Comparison
The current volatility for United States 12 Month Natural Gas Fund LP (UNL) is 5.26%, while Cheniere Energy, Inc. (LNG) has a volatility of 9.78%. This indicates that UNL experiences smaller price fluctuations and is considered to be less risky 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
| UNL | LNG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.26% | 9.78% | -4.52% |
Volatility (6M)Calculated over the trailing 6-month period | 24.99% | 23.42% | +1.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.80% | 26.55% | +8.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.71% | 30.45% | +11.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.81% | 32.28% | +1.53% |
Dividends
UNL vs. LNG - Dividend Comparison
UNL has not paid dividends to shareholders, while LNG's dividend yield for the trailing twelve months is around 0.84%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
LNG Cheniere Energy, Inc. | 0.84% | 1.06% | 0.84% | 0.95% | 0.92% | 0.33% |
UNL United States 12 Month Natural Gas Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UNL and LNG have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LNG has higher volatility (9.78%) compared to UNL (5.26%). In terms of maximum drawdown, UNL dropped -89.48% vs LNG's -97.84%.
LNG currently has the higher Sharpe Ratio (0.35 vs -0.75), 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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