USCI vs. UNL
Compare and contrast key facts about United States Commodity Index Fund (USCI) and United States 12 Month Natural Gas Fund LP (UNL).
USCI and UNL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. USCI is a passively managed fund by Concierge Technologies that tracks the performance of the SummerHaven Dynamic Commodity (TR). It was launched on Aug 10, 2010. UNL is a passively managed fund by Concierge Technologies that tracks the performance of the 12 Month Natural Gas. It was launched on Nov 18, 2009. Both USCI and UNL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
USCI vs. UNL - Performance Comparison
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USCI vs. UNL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USCI United States Commodity Index Fund | 22.82% | 17.63% | 17.24% | -0.00% | 29.47% | 33.07% | -11.47% | -1.68% | -11.76% | 6.32% |
UNL United States 12 Month Natural Gas Fund LP | -6.50% | -9.67% | -4.78% | -50.20% | 47.01% | 54.42% | -9.54% | -18.78% | 12.53% | -21.47% |
Returns By Period
In the year-to-date period, USCI achieves a 22.82% return, which is significantly higher than UNL's -6.50% return. Over the past 10 years, USCI has outperformed UNL with an annualized return of 9.00%, while UNL has yielded a comparatively lower -2.45% annualized return.
USCI
- 1D
- -0.70%
- 1M
- 11.64%
- YTD
- 22.82%
- 6M
- 22.37%
- 1Y
- 32.16%
- 3Y*
- 20.66%
- 5Y*
- 21.59%
- 10Y*
- 9.00%
UNL
- 1D
- -1.99%
- 1M
- 0.15%
- YTD
- -6.50%
- 6M
- -11.42%
- 1Y
- -32.68%
- 3Y*
- -15.85%
- 5Y*
- -2.73%
- 10Y*
- -2.45%
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USCI vs. UNL - Expense Ratio Comparison
USCI has a 1.03% expense ratio, which is higher than UNL's 0.90% expense ratio.
Return for Risk
USCI vs. UNL — Risk / Return Rank
USCI
UNL
USCI vs. UNL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Commodity Index Fund (USCI) and United States 12 Month Natural Gas Fund LP (UNL). 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.
| USCI | UNL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.76 | -0.84 | +2.60 |
Sortino ratioReturn per unit of downside risk | 2.28 | -1.06 | +3.34 |
Omega ratioGain probability vs. loss probability | 1.30 | 0.86 | +0.44 |
Calmar ratioReturn relative to maximum drawdown | 2.76 | -0.87 | +3.63 |
Martin ratioReturn relative to average drawdown | 9.39 | -1.41 | +10.80 |
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
| USCI | UNL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.76 | -0.84 | +2.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.18 | -0.07 | +1.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | -0.07 | +0.64 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | -0.39 | +0.68 |
Correlation
The correlation between USCI and UNL is 0.20, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
USCI vs. UNL - Dividend Comparison
Neither USCI nor UNL has paid dividends to shareholders.
Drawdowns
USCI vs. UNL - Drawdown Comparison
The maximum USCI drawdown since its inception was -66.41%, smaller than the maximum UNL drawdown of -88.52%. Use the drawdown chart below to compare losses from any high point for USCI and UNL.
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Drawdown Indicators
| USCI | UNL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.41% | -88.52% | +22.11% |
Max Drawdown (1Y)Largest decline over 1 year | -12.01% | -36.28% | +24.27% |
Max Drawdown (5Y)Largest decline over 5 years | -18.84% | -77.17% | +58.33% |
Max Drawdown (10Y)Largest decline over 10 years | -45.82% | -77.17% | +31.35% |
Current DrawdownCurrent decline from peak | -0.70% | -87.78% | +87.08% |
Average DrawdownAverage peak-to-trough decline | -29.82% | -73.19% | +43.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 22.58% | -19.05% |
Volatility
USCI vs. UNL - Volatility Comparison
The current volatility for United States Commodity Index Fund (USCI) is 6.98%, while United States 12 Month Natural Gas Fund LP (UNL) has a volatility of 11.08%. This indicates that USCI experiences smaller price fluctuations and is considered to be less risky than UNL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USCI | UNL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.98% | 11.08% | -4.10% |
Volatility (6M)Calculated over the trailing 6-month period | 13.85% | 32.23% | -18.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.38% | 39.10% | -20.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.42% | 41.68% | -23.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.78% | 33.81% | -18.03% |