The United States Natural Gas Fund (UNG) has been one of the most perplexing exchange-traded products of 2009. The fund has lost almost 60% so far this year, but has seen cash billions of dollar in cash inflows ($5.4 billion through November, well more than the $4.0 billion in total assets the fund had at the time). So when U.S. Commodity Funds introduced a 12 Month Natural Gas Fund (UNL) in mid-November, it seemed like a “can’t miss” product, a fund offering exposure to the same commodity without some of the drawbacks that have led to the poor returns. [click to continue…]
U. S. Commodity Funds, the issuer behind ultra-popular commodity ETPs such as UNG and USO, has launched the United States 12 Month Natural Gas Fund under the ticker UNL. The investment objective on UNL is to reflect the changes in percentage terms of the spot price of natural gas delivered at Henry Hub, Louisiana, as measured by the changes in average of the prices of 12 NYMEX natural gas futures contracts, consisting of the near month contract to expire and the contracts for the following 11 months. UNL will “roll” near month futures contracts when they are within two weeks of expiration. [click to continue…]
Denver-based United States Commodity Funds has launched another exchange-traded commodity product, its first to offer inverse exposure to commodity prices. The United States Short Oil Fund (DNO) began trading this week on the NYSE Arca Exchange. DNO is the sixth product from United States Commodity funds, joining products offering exposure to crude oil (USO), natural [...]
It’s been an interesting week in the world of ETFs: The United States scrapped a missile defense system in Eastern Europe and gold is now holding steady above $1010/oz. Here are the ETF Database staff picks of the week’s most important and interesting stories from around the Web:
