Key stats
About United States 12 Month Natural Gas Fund
Expense ratio
0.90%
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Inception date
Nov 18, 2009
ISIN
US91288X1090
UNL offers an alternative method of exposure to natural gas in a viable, if not quite bulletproof, vehicle. The fund spreads its futures exposure equally across the nearest 12 contract months in an effort to minimize the impact of contango on returns. In contrast to its sibling funds, that offers exposure to the next-nearest month. This will mean it will have less sensitivity to short-term moves in spot natural gas. Investors should consider using limit orders to manage spreads. UNL's legal structure isnt unusual in the commodities space, but it does change the tax structure and result in a K-1 at tax time.
Classification
What's in the fund
Exposure type
Producer Manufacturing
Cash
Futures
Stocks17.82%
Producer Manufacturing17.82%
Bonds, Cash & Other82.18%
Cash51.98%
Futures30.20%