WEEI vs. UNG

Last updated Jun 24, 2026

WEEI (Westwood Salient Enhanced Energy Income ETF) and UNG (United States Natural Gas Fund LP) are both exchange-traded funds - WEEI is a Energy Equities fund actively managed by Westwood, while UNG is a Oil & Gas fund tracking the Front Month Natural Gas Futures. WEEI is actively managed, while UNG is passively managed. Over the past year, WEEI returned 22.30% vs -31.71% for UNG. At a 0.14 correlation, their price movements are largely independent. WEEI charges 0.85%/yr vs 1.17%/yr for UNG.

Performance

WEEI vs. UNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Westwood Salient Enhanced Energy Income ETF (WEEI) and United States Natural Gas Fund LP (UNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WEEI achieves a 12.67% return, which is significantly higher than UNG's -6.20% return.

WEEI

• 1D: 0.75%
• 1M: -6.17%
• YTD: 12.67%
• 6M: 13.31%
• 1Y: 22.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UNG

• 1D: -2.29%
• 1M: 5.12%
• YTD: -6.20%
• 6M: -10.85%
• 1Y: -31.71%
• 3Y*: -27.52%
• 5Y*: -24.87%
• 10Y*: -21.37%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WEEI vs. UNG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WEEI Westwood Salient Enhanced Energy Income ETF	12.67%	11.28%	-3.19%
UNG United States Natural Gas Fund LP	-6.20%	-27.07%	16.41%

Correlation

The correlation between WEEI and UNG is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (All Time) Calculated using the full available price history since May 1, 2024	0.14

Return for Risk

WEEI vs. UNG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WEEI

WEEI Risk / Return Rank: 47
WEEI Sharpe Ratio Rank: 48
WEEI Sortino Ratio Rank: 43
WEEI Omega Ratio Rank: 43
WEEI Calmar Ratio Rank: 51
WEEI Martin Ratio Rank: 51

UNG

UNG Risk / Return Rank: 4
UNG Sharpe Ratio Rank: 5
UNG Sortino Ratio Rank: 5
UNG Omega Ratio Rank: 5
UNG Calmar Ratio Rank: 2
UNG Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WEEI vs. UNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Westwood Salient Enhanced Energy Income ETF (WEEI) and United States Natural Gas Fund LP (UNG). 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.

	WEEI	UNG	Difference
Sharpe ratio: Return per unit of total volatility	1.56	-0.53	+2.09
Sortino ratio: Return per unit of downside risk	2.06	-0.45	+2.51
Omega ratio: Gain probability vs. loss probability	1.27	0.94	+0.33
Calmar ratio: Return relative to maximum drawdown	2.37	-0.80	+3.16
Martin ratio: Return relative to average drawdown	8.14	-1.25	+9.39

WEEI vs. UNG - Sharpe Ratio Comparison

The current WEEI Sharpe Ratio is 1.56, which is higher than the UNG Sharpe Ratio of -0.53. The chart below compares the historical Sharpe Ratios of WEEI and UNG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WEEI vs. UNG - Drawdown Comparison

The maximum WEEI drawdown since its inception was -18.78%, smaller than the maximum UNG drawdown of -99.88%. Use the drawdown chart below to compare losses from any high point for WEEI and UNG.

Drawdown Indicators

	WEEI	UNG	Difference
Max Drawdown Largest peak-to-trough decline	-18.78%	-99.88%	+81.10%
Max Drawdown (1Y) Largest decline over 1 year	-9.46%	-39.94%	+30.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-68.16%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-92.49%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-93.55%	—
Current Drawdown Current decline from peak	-7.81%	-99.86%	+92.05%
Average Drawdown Average peak-to-trough decline	-4.20%	-89.97%	+85.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	26.12%	-23.37%

Volatility

WEEI vs. UNG - Volatility Comparison

The current volatility for Westwood Salient Enhanced Energy Income ETF (WEEI) is 5.77%, while United States Natural Gas Fund LP (UNG) has a volatility of 12.10%. This indicates that WEEI experiences smaller price fluctuations and is considered to be less risky than UNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WEEI	UNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.77%	12.10%	-6.33%
Volatility (6M) Calculated over the trailing 6-month period	11.17%	50.87%	-39.70%
Volatility (1Y) Calculated over the trailing 1-year period	14.46%	60.39%	-45.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.36%	64.14%	-45.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.36%	54.80%	-36.44%

WEEI vs. UNG - Expense Ratio Comparison

WEEI has a 0.85% expense ratio, which is lower than UNG's 1.17% expense ratio.

Dividends

WEEI vs. UNG - Dividend Comparison

WEEI's dividend yield for the trailing twelve months is around 11.84%, while UNG has not paid dividends to shareholders.

Position	TTM	2025	2024
UNG United States Natural Gas Fund LP	0.00%	0.00%	0.00%
WEEI Westwood Salient Enhanced Energy Income ETF	11.84%	12.59%	7.20%

Frequently Asked Questions

Can I hold both WEEI and UNG in my portfolio?

WEEI and UNG have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WEEI or UNG?

UNG has higher volatility (12.10%) compared to WEEI (5.77%). In terms of maximum drawdown, WEEI dropped -18.78% vs UNG's -99.88%.

Which ETF is better, WEEI or UNG?

On 1-year performance, WEEI leads with 22.30% vs -31.71% for UNG. On fees, WEEI is cheaper at 0.85% per year. On volatility, WEEI has been the lower-risk option at 5.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WEEI or UNG?

Over the 1-year period, WEEI has performed better with a 22.30% return vs -31.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WEEI or UNG?

WEEI is cheaper with a 0.85% expense ratio, compared with 1.17% for UNG.

Which ETF pays a higher dividend yield, WEEI or UNG?

WEEI has the higher dividend yield at 11.84%, compared with 0.00% for UNG.

What is the main difference between WEEI and UNG?

WEEI is categorized as Energy Equities, while UNG is Oil & Gas. They also come from different issuers: Westwood and USCF Investments. Their fees differ too: 0.85% for WEEI and 1.17% for UNG.

Which has better risk-adjusted returns?

WEEI currently has the higher Sharpe Ratio (1.56 vs -0.53), 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.