IVV vs UNL
iShares Core S&P 500 ETF vs United States 12 Month Natural Gas Fund
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | UNL | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 1.65% | |
| AUM | $907.0B | $16M | |
| Dividend Yield | 1.10% | 0.00% | |
| Holdings | 508 | 16 | |
| YTD Return | +12.71% | -19.49% | |
| 1Y Return | +21.89% | -23.82% | |
| 3Y Return (annualized) | +22.08% | -20.09% | |
| 5Y Return (annualized) | +12.96% | -12.00% | |
| Volatility (annualized) | 15.1% | 30.8% | |
| Max Drawdown | -56.5% | -89.8% | |
| Fund Family | iShares by BlackRock (US) | USCF Investments | |
| Category | Equity | Commodity | |
| Inception | May 15, 2000 | Nov 18, 2009 |
IVV vs UNL Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and United States 12 Month Natural Gas Fund (UNL) is a ETF from USCF Investments. Over the past year IVV returned +21.89% while UNL returned -23.82%. Year to date, IVV is up 12.71% versus a loss of 19.49% for UNL.
Over three years, IVV compounded at +22.08% per year against -20.09% for UNL; over five years the annualized figures are +12.96% and -12.00% respectively. Across the full 17-year window we track, IVV has the edge at +7.00% annualized vs -11.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UNL has been the more volatile fund, with annualized monthly volatility of 30.8% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -89.8% for UNL. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.05. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while UNL charges 1.65%. On a $10,000 position that is $3 vs $165 annually, a gap of $162 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 0.00% for UNL.
Holdings Overlap
IVV and UNL share 0 holdings out of 507 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or UNL?
IVV has an expense ratio of 0.03% while UNL charges 1.65%. IVV is the cheaper option. On a $10,000 investment, that is $162 per year of difference.
Which performed better, IVV or UNL?
Over the past year IVV returned +21.89% vs -23.82% for UNL, so IVV leads on 1-year performance. Over the longest common window we track (17 years), IVV annualized +7.00% vs -11.87% for UNL. Past performance does not guarantee future results.
Which is riskier, IVV or UNL?
UNL has been the more volatile fund at 30.8% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs UNL -89.8%.
Should I hold both IVV and UNL?
IVV and UNL have a monthly-return correlation of 0.05, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and UNL?
IVV and UNL share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, IVV or UNL?
IVV yields 1.10% while UNL yields 0.00%, so IVV currently pays the higher dividend yield.
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