UNL vs VOO
United States 12 Month Natural Gas Fund vs Vanguard S&P 500 ETF
Which is better, UNL or VOO?
Energy against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. VOO is less concentrated, with 39.1% of the fund in its ten largest positions against 61.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | UNL | VOO |
|---|---|---|
| Expense Ratio | 1.65% | 0.03%Best |
| AUM | $14M | $1.0T |
| Dividend Yield | 0.00% | 1.05% |
| Holdings | 57 | 519 |
| YTD Return | -24.84% | +12.11%Best |
| 1Y Return | -35.43% | +12.50%Best |
| 3Y Return (annualized) | -21.02% | +21.54%Best |
| 5Y Return (annualized) | -17.16% | +11.93%Best |
| Volatility (annualized) | 30.9% | 14.0%Best |
| Max Drawdown | -86.0% | -34.3%Best |
| $10,000 over 5 years | $3,901 | $17,568Best |
| Top 10 Weight | 61.5% | 39.1%Best |
| Fund Family | USCF Investments | Vanguard (US) |
| Category | Commodity | Equity |
| Style | Energy | Large Cap Blend |
| Inception | Nov 18, 2009 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Nov 11, 2026 (16.2 years).
UNL vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16.2 years both funds cover.
UNL vs VOO Performance
United States 12 Month Natural Gas Fund (UNL) is an ETF from USCF Investments and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year UNL returned -35.43% while VOO returned +12.50%. Year to date, UNL is down 24.84% versus a gain of 12.11% for VOO.
Over three years, UNL compounded at -21.02% per year against +21.54% for VOO; over five years the annualized figures are -17.16% and +11.93% respectively. Across the full 16-year window we track, VOO has the edge at +13.24% annualized vs -11.03%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UNL has been the more volatile fund, with annualized monthly volatility of 30.9% compared with 14.0% for VOO. 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 -86.0% for UNL and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.07. They move largely independently of each other.
Fees and Cost Over Time
UNL charges 1.65% per year while VOO charges 0.03%. On a $10,000 position that is $165 vs $3 annually, a gap of $162 per year that compounds over a long holding period. On income, UNL currently yields 0.00% against 1.05% for VOO.
Holdings Overlap
52.9% of UNL's money is in holdings VOO also owns. 10.2% of VOO's money is in holdings UNL also owns.
The two portfolios partly overlap.
11 positions in common, counted across the 24 positions we hold weights for in UNL and 506 in VOO, against full books of 57 and 519.
What only one of them owns
Our book lists 490 positions for VOO that do not appear in our book for UNL (89.8% of the fund), and 12 for UNL that do not appear in VOO (44.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in UNL | Weight in VOO | Difference |
|---|---|---|---|
| PANWPalo Alto Networks Inc. | 11.40% | 0.49% | 10.91% |
| MSFTMicrosoft Corp | 3.49% | 5.78% | 2.29% |
| CRWDCrowdstrike Holdings Inc | 7.37% | 0.41% | 6.96% |
| AVGOBroadcom Inc | 4.03% | 2.54% | 1.49% |
| CSCOCisco Systems Inc. - Ordinary Shares | 5.04% | 0.64% | 4.40% |
| FTNTFortinet Inc | 4.96% | 0.17% | 4.79% |
| FFIVF5 Networks Inc. | 4.94% | 0.04% | 4.90% |
| VRSNVerisign Inc. | 4.14% | 0.03% | 4.11% |
| AKAMAkamai Technologies Inc. | 2.68% | 0.02% | 2.66% |
| LDOSLeidos Holdings, Inc. | 2.44% | 0.02% | 2.42% |
52.9% of UNL is already inside VOO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, UNL or VOO?
UNL has an expense ratio of 1.65% while VOO charges 0.03%. VOO is the cheaper option, by $162 a year on a $10,000 investment.
Which performed better, UNL or VOO?
Over the past year UNL returned -35.43% vs +12.50% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), UNL annualized -11.03% vs +13.24% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, UNL or VOO?
UNL has been the more volatile fund at 30.9% annualized versus 14.0% for VOO. Worst drawdown: UNL -86.0% vs VOO -34.3%.
Should I hold both UNL and VOO?
UNL and VOO have a monthly-return correlation of 0.07, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between UNL and VOO?
52.9% of UNL's money is in holdings VOO also owns. 10.2% of VOO's is in holdings UNL also owns. They hold 11 positions in common, counted across the 24 positions we hold weights for in UNL and 506 in VOO.
Which pays a higher dividend, UNL or VOO?
UNL yields 0.00% while VOO yields 1.05%, so VOO currently pays the higher dividend yield.
Is VOO better than UNL?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. VOO is less concentrated, with 39.1% of the fund in its ten largest positions against 61.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.