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United States Natural Gas Fund LP UNG
Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.
Fund and replication metrics
| Measure | UNG | Replication |
|---|---|---|
| Annualized growth | -31.8% | 10.1% |
| Annualized volatility | 63.1% | 16.4% |
| Sharpe ratio | -0.29 | 0.67 |
| Maximum drawdown | 92.5% | 24.6% |
| Replication fit (R²) | 0.17 · Tracking error 57.6% | |
Replication portfolio
The published portfolio below is the investable basket used to model UNG’s historical return behavior.
| Ticker | Building block | Weight |
|---|---|---|
| BCI | Alternatives · Commodities | 100.0% |