United States 12 Month Natural Gas Fund LP (UNL) Fund Overview
Educational signal · not a buy or sell recommendation · How to read this
Beta 1.73: the stock has moved about 73% more than the S&P 500.
For informational purposes only. Not financial advice. Machine-generated analysis by Stock Expert AI — model gemini-2.0-flash, generated Mar 18, 2026. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief. Data sources: Financial Modeling Prep, Yahoo Finance, SEC EDGAR
Quick AnswerUnited States 12 Month Natural Gas Fund LP (UNL) trades at $5.63. United States 12 Month Natural Gas Fund LP (UNL) is designed to track the performance of natural gas futures contracts. Sector: Financials.
Price as of · Last analyzed: Mar 18, 2026Analyst Coverage for UNL: UNL does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage.
United States 12 Month Natural Gas Fund LP (UNL) Financial Services Profile
United States 12 Month Natural Gas Fund LP (UNL) offers exposure to natural gas futures, tracking near-month and subsequent eleven-month NYMEX contracts. As an asset management product, UNL caters to investors seeking to capitalize on natural gas price fluctuations, but is subject to commodity market volatility and contango effects.
What Is the Investment Thesis for UNL?
UNL provides a vehicle for investors seeking exposure to the natural gas market without directly investing in the commodity. Its performance is closely tied to the price movements of natural gas futures contracts on the NYMEX. A key consideration is the fund's vulnerability to contango, which can erode returns as the fund rolls over expiring contracts into more expensive, longer-dated ones. Given the fund's beta of 1.73, it exhibits higher volatility compared to the broader market. Investors should monitor natural gas supply and demand dynamics, geopolitical events, and weather patterns, as these factors significantly impact futures prices. The fund's market cap of $0.01 billion indicates it is a smaller, more volatile investment option.
Based on FMP financials and quantitative analysis
UNL Key Highlights
UNL's investment strategy focuses on natural gas futures contracts traded on the NYMEX.
- The fund tracks the near month contract to expire and the following 11 months' contracts.
- UNL is susceptible to contango, which can negatively impact returns.
- The fund's beta of 1.73 indicates higher volatility compared to the overall market.
- UNL does not pay a dividend.
Who Are UNL's Competitors?
UNL is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | MoonshotScore |
|---|---|---|---|---|
| BFIX Build Bond Innovation ETF | $24.64 | -0.04% | $11.8M | — |
| IBAT iShares Energy Storage & Materials ETF | $42.00 | +3.40% | $13.5M | — |
| LTTI FT Vest 20+ Year Treasury & Target Income ETF | $16.41 | -0.56% | $13.9M | — |
| NIKL Sprott Nickel Miners ETF | $13.29 | +0.91% | $10.5M | — |
| BLK BlackRock, Inc. | $1059.63 | -0.44% | $164B | 51 5-pillar |
| BX Blackstone Inc. | $111.74 | -0.45% | $135B | 68 5-pillar |
| APOS Apollo Global Management, Inc. | $25.59 | -0.23% | $74.8B | 56 5-pillar |
| BAM Brookfield Asset Management | $44.85 | +0.65% | $71.6B | 57 5-pillar |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are UNL's Key Strengths?
Provides direct exposure to natural gas futures prices.
- Offers a liquid and accessible way to invest in natural gas.
- Transparent investment strategy based on NYMEX futures contracts.
- Can be used for hedging or speculative purposes.
What Are UNL's Weaknesses?
Vulnerable to contango, which can erode returns.
- High volatility due to the nature of natural gas futures.
- Performance may not perfectly track spot natural gas prices.
- Subject to regulatory changes affecting commodity futures trading.
What Are the Key Risks for UNL?
Weak fundamentals — a Piotroski F-Score of 2/9 flags soft profitability, leverage or efficiency.
- Contango in the natural gas futures market could erode returns.
- Unexpected weather events could impact natural gas supply and demand.
- Regulatory changes affecting commodity futures trading could increase costs.
- Competition from other commodity ETFs and ETNs could limit market share.
What Threats Does UNL Face?
- Competition from other commodity ETFs and ETNs.
- Changes in government regulations impacting natural gas production or trading.
- Unexpected weather events or geopolitical disruptions.
- Shifting investor sentiment towards alternative energy sources.
What Are UNL's Competitive Advantages?
- First-mover advantage in offering a specific natural gas futures tracking product.
- Established trading history and liquidity on the NYSE Arca.
- Brand recognition among investors seeking natural gas exposure.
What Does UNL Do?
United States 12 Month Natural Gas Fund LP (UNL) is a commodity pool that seeks to provide investment results that correspond generally to the daily changes in percentage terms of the price of natural gas futures contracts. The fund focuses on futures contracts traded on the New York Mercantile Exchange (NYMEX). Specifically, UNL invests in the near month contract to expire and the contracts for the following eleven months, totaling twelve consecutive months' contracts. This strategy aims to capture the short-term price movements in the natural gas market. UNL does not invest directly in physical natural gas. Instead, it uses a futures-based approach to track the commodity's performance. The fund is designed for sophisticated investors who understand the risks associated with commodity futures trading, including the potential for significant losses and the impact of contango, where futures prices are higher than the expected spot price.
What Products and Services Does UNL Offer?
- Tracks the performance of natural gas futures contracts.
- Invests in near-month and subsequent eleven-month NYMEX natural gas futures.
- Provides investors with exposure to natural gas price movements.
- Offers a way to invest in natural gas without directly owning the commodity.
- Trades on the NYSE Arca exchange.
- Designed for sophisticated investors with an understanding of commodity futures.
How Does UNL Make Money?
- Generates returns based on the price movements of natural gas futures contracts.
- Manages a portfolio of futures contracts to track the benchmark index.
- Earns fees from investors for managing the fund.
What Industry Does UNL Operate In?
UNL operates within the asset management industry, specifically focusing on commodity-linked investment products. The broader asset management industry is experiencing growth driven by increasing investor interest in alternative assets and commodity exposure. However, funds like UNL face competition from other commodity ETFs and ETNs, as well as direct investments in futures contracts. The natural gas market is influenced by factors such as weather patterns, production levels, and geopolitical events, creating volatility and opportunities for specialized funds like UNL.
Who Are UNL's Key Customers?
- Retail investors seeking exposure to natural gas.
- Institutional investors looking for commodity diversification.
- Traders who speculate on natural gas price movements.
Research confidence
Thin evidence — scoring coverage unknown. Treat this as a starting point, not a conclusion.
- ● Scoring coverage unknown
- ● Price is current
- ● No filing on record
- ● No analyst coverage
- ● This is a fund, not an operating company
MoonshotScore History
Recorded daily since 2026-08-23 · 41 snapshots
| 2026-08-23 | 39 |
| 2026-08-31 | 39 |
| 2026-09-08 | 39 |
| 2026-09-16 | 39 |
| 2026-09-24 | 39 |
| 2026-10-04 | 39 |
What changed?
The score has stayed at 39.
Over the same 30 days the stock moved -3.9%.
Financial Health
United States 12 Month Natural Gas Fund LP's Piotroski F-Score is 2/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny.
UNL Financials
Bull Case vs Bear Case
Bull Case
- Provides direct exposure to natural gas futures prices.
- Offers a liquid and accessible way to invest in natural gas.
- Transparent investment strategy based on NYMEX futures contracts.
- Can be used for hedging or speculative purposes.
Bear Case
- Vulnerable to contango, which can erode returns.
- High volatility due to the nature of natural gas futures.
- Performance may not perfectly track spot natural gas prices.
- Subject to regulatory changes affecting commodity futures trading.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · July 2026
UNL Latest News
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UNL Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations collected by Financial Modeling Prep for UNL.
Price Targets
Wall Street price target analysis for UNL.
UNL MoonshotScore
MoonshotScore is Stock Expert AI's proprietary 0-100 research rating, not a buy or sell recommendation. No MoonshotScore is published for UNL; grades run from A+ (80-100) to F (below 30).
What Investors Ask About United States 12 Month Natural Gas Fund LP (UNL) — Financials
What do analysts say about UNL stock?
As of March 18, 2026, there is no available AI analyst consensus on UNL. Given its structure as a commodity pool tracking natural gas futures, its performance is highly dependent on the price of natural gas.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
MoonshotScore is not published for this security.
Data provided for informational purposes only.
- Financial data is based on available information and may be subject to change.