XELA vs. UNL

Last updated Jun 4, 2026

XELA (Exela Technologies, Inc.) is a stock, while UNL (United States 12 Month Natural Gas Fund LP) is Oil & Gas fund tracking the 12 Month Natural Gas. Over the past 10 years, XELA returned -83.66%/yr vs -3.81%/yr for UNL. At a 0.04 correlation, their price movements are largely independent.

Performance

XELA vs. UNL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Exela Technologies, Inc. (XELA) and United States 12 Month Natural Gas Fund LP (UNL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XELA achieves a -85.45% return, which is significantly lower than UNL's -11.00% return. Over the past 10 years, XELA has underperformed UNL with an annualized return of -83.66%, while UNL has yielded a comparatively higher -3.81% annualized return.

XELA

• 1D: 0.00%
• 1M: 0.00%
• YTD: -85.45%
• 6M: -97.33%
• 1Y: -27.27%
• 3Y*: -93.27%
• 5Y*: -95.17%
• 10Y*: -83.66%

UNL

• 1D: 1.21%
• 1M: -1.96%
• YTD: -11.00%
• 6M: -23.47%
• 1Y: -28.37%
• 3Y*: -14.70%
• 5Y*: -5.77%
• 10Y*: -3.81%

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

XELA vs. UNL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XELA Exela Technologies, Inc.	-85.45%	-99.01%	-66.96%	-79.51%	-99.53%	-29.58%	1.79%	-89.51%	-24.47%	-48.24%
UNL United States 12 Month Natural Gas Fund LP	-11.00%	-9.67%	-4.78%	-50.20%	47.01%	54.42%	-9.54%	-18.78%	12.53%	-21.47%

Correlation

The correlation between XELA and UNL is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Mar 10, 2015	0.04

Return for Risk

XELA vs. UNL — Risk / Return Rank

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

UNL

UNL Risk / Return Rank: 3
UNL Sharpe Ratio Rank: 3
UNL Sortino Ratio Rank: 3
UNL Omega Ratio Rank: 3
UNL Calmar Ratio Rank: 2
UNL 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.

XELA vs. UNL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Exela Technologies, Inc. (XELA) 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.

	XELA	UNL	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	-0.79	+0.79
Sortino ratio: Return per unit of downside risk	26.73	-0.97	+27.70
Omega ratio: Gain probability vs. loss probability	5.37	0.87	+4.49
Calmar ratio: Return relative to maximum drawdown	-0.27	-0.81	+0.54
Martin ratio: Return relative to average drawdown	-0.37	-1.30	+0.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XELA vs. UNL - Sharpe Ratio Comparison

The current XELA Sharpe Ratio is -0.01, which is higher than the UNL Sharpe Ratio of -0.79. The chart below compares the historical Sharpe Ratios of XELA and UNL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XELA	UNL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.01	-0.79	+0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.05	-0.14	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.06	-0.11	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	-0.40	+0.39

Drawdowns

XELA vs. UNL - Drawdown Comparison

The maximum XELA drawdown since its inception was -100.00%, which is greater than UNL's maximum drawdown of -89.00%. Use the drawdown chart below to compare losses from any high point for XELA and UNL.

Drawdown Indicators

	XELA	UNL	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-89.00%	-11.00%
Max Drawdown (1Y) Largest decline over 1 year	-99.59%	-35.11%	-64.48%
Max Drawdown (3Y) Largest decline over 3 years	-99.98%	-48.16%	-51.82%
Max Drawdown (5Y) Largest decline over 5 years	-100.00%	-78.12%	-21.88%
Max Drawdown (10Y) Largest decline over 10 years	-100.00%	-78.12%	-21.88%
Current Drawdown Current decline from peak	-100.00%	-88.37%	-11.63%
Average Drawdown Average peak-to-trough decline	-70.91%	-73.36%	+2.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	73.86%	21.92%	+51.94%

Volatility

XELA vs. UNL - Volatility Comparison

Exela Technologies, Inc. (XELA) has a higher volatility of 451.49% compared to United States 12 Month Natural Gas Fund LP (UNL) at 8.36%. This indicates that XELA's price experiences larger fluctuations and is considered to be riskier than UNL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XELA	UNL	Difference
Volatility (1M) Calculated over the trailing 1-month period	451.49%	8.36%	+443.13%
Volatility (6M) Calculated over the trailing 6-month period	783.93%	32.00%	+751.93%
Volatility (1Y) Calculated over the trailing 1-year period	4,287.39%	35.82%	+4,251.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1,939.79%	41.76%	+1,898.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1,374.83%	33.84%	+1,340.99%

Dividends

XELA vs. UNL - Dividend Comparison

Neither XELA nor UNL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XELA and UNL in my portfolio?

XELA and UNL have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XELA or UNL?

XELA has higher volatility (451.49%) compared to UNL (8.36%). In terms of maximum drawdown, XELA dropped -100.00% vs UNL's -89.00%.

Which has better risk-adjusted returns?

XELA currently has the higher Sharpe Ratio (-0.01 vs -0.79), 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.