UNL,UNG, and UGA are the best ETFs for Q3 2022(2022.06.03)

2022.06.03

Best ETFs for Q3 2022 (investopedia.com)

Exchange-traded funds (ETFs) hold a collection of securities—such as stocks—that often track an underlying index. While they are similar to mutual funds in some ways, ETFs are different in that they are listed on exchanges and can be traded throughout the day like traditional stocks.

 

상장지수펀드(ETF)는 종종 기본 지수를 추적하는 주식과 같은 증권 모음을 보유합니다. 어떤 면에서는 뮤추얼 펀드와 비슷하지만 ETF는 거래소에 상장되어 기존 주식처럼 하루 종일 거래할 수 있다는 점에서 다릅니다.

 

Exchange-Traded Fund (ETF)

In recent years, ETFs have become immensely popular with investors for two major reasons:

1. They provide an easy access point to a wide variety of sectors, industries, and strategies.
2. They tend to minimize many of the risks inherent in investing in individual stocks.

최근 몇 년 동안  ETF는  두 가지 주요 이유로 투자자들에게 엄청난 인기를 얻었습니다.

그들은 다양한 부문, 산업 및 전략에 쉽게 접근할 수 있는 접점을 제공합니다.

그들은 개별 주식 투자에 내재된 많은 위험을 최소화하는 경향이 있습니다.

KEY TAKEAWAYS

• The best exchange-traded funds (ETFs) by one-year trailing total returns have dramatically outperformed the broader market over the past year.
• The ETFs with the best one-year trailing total returns are UNL, UNG, and UGA.
• The top holding of the first two funds is natural gas futures, while the third fund mainly holds reformulated gasoline futures.

지난 1년 후행 총 수익률 기준 최고의 상장지수펀드(ETF)는 지난 1년 동안 전체 시장을 크게 능가했습니다.

지난 1년 후행 총 수익률이 가장 좋은 ETF는 UNL, UNG 및 UGA입니다.

처음 두 펀드의 최상위 보유 주식은 천연 가스 선물이고, 세 번째 펀드는 주로 개질된 가솔린 선물을 보유하고 있습니다.

There are 1,685 ETFs that trade in the United States, excluding leveraged and inverse funds as well as those with less than $50 million in assets under management (AUM).

All three of the top-performing ETFs are linked to energy commodities that have dramatically outperformed the S&P 500 Index over the past year. These aren't formal benchmarks, but oil, natural gas, and gasoline have returned 91.2%, 178.8%, and 100.5% as measured by the Bloomberg Composite Crude Oil Subindex, Bloomberg Natural Gas Subindex, and Bloomberg Unleaded Gasoline Subindex respectively. The S&P 500 has provided a total return of -1.9% over the past 12 months, as of May 26, 2022.1

The performance of these energy-related commodity ETFs has been driven by a number of forces, including the spike in oil, natural gas, and gasoline prices following increased demand in post-Covid economic reopening across the world. Also, OPEC+ has been slow to increase the supply of oil.2 

And the ban on Russian energy imports by the U.S. and its allies has also spurred prices.3

 

 

The best-performing ETF, based on performance over the past year, is the United States 12 Month Natural Gas Fund LP (UNL).

We examine the best three ETFs below. All numbers below are as of May 26, 2022.4

United States 12 Month Natural Gas Fund LP (UNL)

• Performance Over One Year: 204.4%
• Expense Ratio: 0.90%
• Annual Dividend Yield: N/A
• Three-Month Average Daily Volume: 104,628
• Assets Under Management: $50.8 million
• Inception Date: Nov. 18, 2009
• Issuer: Concierge Technologies

UNL aims to track prices of natural gas as measured by the fund's Benchmark Futures Contracts, after expenses. The benchmark is the near-month futures contract to expire and contracts for the next 11 months, for 12 straight months. If the near-month futures contract expires in two weeks, the Benchmark will be the next month's contract to expire as well as contracts for the next 11 months. The fund provides exposure to natural gas prices by investing mainly in natural gas futures contracts as well as forwards and swap contracts. By holding futures contracts across multiple maturities, UNL aims to reduce the risk of contango.56

United States Natural Gas Fund LP (UNG)

• Performance Over One Year: 180.0%
• Expense Ratio: 1.11%7
• Annual Dividend Yield: N/A
• Three-Month Average Daily Volume: 8,272,690
• Assets Under Management: $545.5 million
• Inception Date: April 18, 2007
• Issuer: Concierge Technologies

UNG is structured as a commodity pool, a private investment structure that pools investor contributions and then trades futures and options in commodities on their behalf. The fund’s goal is to reflect the performance of the daily change on the Benchmark Futures Contract on natural gas as traded on the New York Mercantile Exchange (NYMEX). The ETF invests in futures contracts set to expire within the next month, which leaves it exposed to adverse impacts of contango. For this reason, UNG may be more appropriate for traders with a short-term strategy or as a hedge against inflation. UNG provides exposure to natural gas prices by holding natural gas futures contracts and related futures contracts.89

United States Gasoline Fund LP (UGA)

• Performance Over One Year: 104.3%
• Expense Ratio: 0.90%10
• Annual Dividend Yield: N/A
• Three-Month Average Daily Volume: 105,558
• Assets Under Management: $152.5 million
• Inception Date: Feb. 26, 2008
• Issuer: Concierge Technologies

Like UNG, UGA is structured as a commodity pool that uses investor contributions to trade commodity futures and options contracts. The fund seeks to replicate the daily percentage change in the price of gasoline, also known as reformulated gasoline blendstock for oxygen blending (RBOB), as measured by the Benchmark Futures Contract.10 

UGA invests in listed RBOB futures contracts and other gasoline-related futures contracts set to expire within the next month. The fund's short-term focus is likely to make it less attractive to investors seeking a long-term, buy-and-hold investment strategy. The strength of UGA, however, is that it provides targeted exposure to a specific sector of the energy market.11

 

 

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5 ETFs Outperforming as Commodity Gauge Hits New High (yahoo.com)

5 ETFs Outperforming as Commodity Gauge Hits New High

 

 

Commodities have been on a hot streak this year, buoyed by the shortage of energy and food supplies amid higher demand.

This is especially true as the Bloomberg Commodity Spot Index, which tracks prices for 23 raw materials, hit the highest-ever level.

Most of the rally was driven by a jump in natural gas and wheat prices amid renewed supply fears.

The gauge is up 36% this year, heading for the biggest annual advance in more than a decade.

 

원자재는 수요 증가에 따른 에너지 및 식품 공급 부족으로 인해 올해 뜨거운 행진을 보였습니다.

23개 원자재 가격을 추적하는 블룸버그 상품 현물 지수가 사상 최고치를 기록하면서 특히 그렇습니다.

랠리의 대부분은 공급에 대한 두려움이 다시 살아나면서 천연가스와 밀 가격이 급등했기 때문입니다.

지수는 올해 36% 증가하여 10년 이상 만에 가장 큰 연간 상승을 향하고 있습니다.

While most commodity ETFs have been soaring, United States Natural Gas Fund UNG, United States Gasoline ETF UGA, United States Brent Oil Fund BNO, Teucrium Wheat Fund WEAT and iPath Series B Bloomberg Nickel Subindex Total Return ETN JJN have been the show stealers this year.

 

대부분의 상품 ETF가 급등하는 동안, 미국 천연 가스 펀드 UNG, 미국 가솔린 ETF UGA, 미국 브렌트유 펀드 BNO, Teucrium Wheat Fund WEAT 및 iPath Series B Bloomberg Nickel Subindex Total Return ETN JJN이

올해 두드러졌습니다.

A wide range of raw materials is soaring thanks to massive stimulus spending, production cuts and widespread bottlenecks across supply chains. Skyrocketing inflation that compelled central banks to raise interest rates along with the Russia’s invasion of Ukraine has further disrupted energy and grain supplies in an already-tight commodity market (read: Tap Rising Grocery Prices With These ETFs).

 

대규모 경기 부양 지출, 생산 감소 및 공급망 전반에 걸친 광범위한 병목 현상으로 인해

다양한 원자재 가격이  상승하고 있습니다.

러시아의 우크라이나 침공과 함께 중앙 은행이 금리를 인상하도록 강요한 치솟는 인플레이션은

이미 빡빡한 원자재 시장에서 에너지 및 곡물 공급을 더욱 방해했습니다.

On the other hand, the roll back of COVID-19 lockdowns in China has raised the demand for raw materials.

Additionally, the combination of other factors such as increased demand for electric vehicles and green energy are creating a sustained surge in demand for relevant raw materials.

 

반면 중국의 코로나19 봉쇄 조치가 풀리면서 원자재 수요가 늘었다. 또한 전기 자동차 및 녹색 에너지에 대한

수요 증가와 같은 다른 요인의 조합으로 관련 원자재에 대한 수요가 지속적으로 급증하고 있습니다.

Notably, the Bloomberg spot energy subindex has skyrocketed more than 92% year to date, reaching the highest level since at least 1992, while a gauge tracking agricultural prices has gained 24%.

 

특히, 블룸버그 현물 에너지 하위 지수는 현재까지 92% 이상 급등하여 적어도 1992년 이후 최고 수준에 도달했으며

농산물 가격을 추적하는 지수는 24% 상승했습니다.

Further, the commodity futures market is in a state of backwardation, where later-dated contracts are cheaper than near-term contracts, which has erased worries about roll costs and supported the rally. This signals that the commodity market is tightening and demand is robust, paving the way for a rally. This trend is likely to persist, at least in the near term, acting as the biggest catalyst for the commodities.

 

또한 상품 선물 시장은 만기가 단기보다 저렴한 백워데이션 상태에 있어 롤오버 비용에 대한 우려가 사라지고 랠리를 뒷받침했다. 이는 상품 시장이 타이트해지고 수요가 견실하다는 신호로 랠리의 길을 열어줍니다. 이러한 추세는 적어도 단기적으로는 지속되어 원자재의 가장 큰 촉매제 역할을 할 것입니다.

We have profiled the ETFs below:

United States Natural Gas Fund (UNG) – Up 154%

United States Natural Gas Fund provides direct exposure to the price of natural gas on a daily basis through futures contracts. If the near-month contract is within two weeks of expiration, the benchmark will be the next month's contract to expire (read: 10 Top-Performing Oil-Energy ETFs of May).

United States Natural Gas Fund has AUM of $531.9 million and trades in volume of around 8.7 million shares per day. The fund has 1.11% in expense ratio.

United States Gasoline ETF (UGA) – Up 91.2%

United States Gasoline ETF is designed to track in percentage terms the movements of gasoline prices. The benchmark futures contract is the futures contract on gasoline as traded on the NYMEX. If the near-month contract is within two weeks of expiration, the benchmark will be the next-month contract to expire.

United States Gasoline ETF is illiquid with a daily trading volume of about 75,000, suggesting that investors have to pay extra beyond the annual fee of 0.90% per year. The fund has managed assets of $179.4 million.

United States Brent Oil Fund (BNO) – Up 66.8%

United States Brent Oil Fund provides direct exposure to the spot price of Brent crude oil on a daily basis through futures contracts. BNO invests primarily in listed crude oil futures contracts and other oil-related futures contracts, and may invest in forwards and swap contracts.

United States Brent Oil Fund amassed $314.5 million in its asset base and charges 1.02% as annual fees and expenses. Volume is good as it exchanges 1.4 million shares a day on average (read: 5 ETFs to Tap Oil Price Strength).

Teucrium Wheat Fund (WEAT) – Up 51.7%

Teucrium Wheat Fund provides investors an easy way to gain exposure to the price of wheat futures in a brokerage account. It uses three futures contracts for wheat, all of which are traded on the CBOT Futures Exchange. The three contracts include the second-to-expire contract weighted 35%; the third-to-expire contract weighted 30%; and the contract expiring in December following the expiration month of the third-to-expire contract weighted 35%.

Teucrium Wheat Fund has amassed $596.2 million in its asset base and trades in a good volume of about 4.5 million shares a day. It charges a fee of 1.14% per year and has a Zacks ETF Rank #3 with a High risk outlook.

iPath Series B Bloomberg Nickel Subindex Total Return ETN (JJN) – Up 43.6%

iPath Series B Bloomberg Nickel Subindex Total Return ETN follows the Bloomberg Nickel Subindex Total Return, which delivers returns through an unleveraged investment in the futures contracts on nickel.

The note has been able to manage $48.1 million in AUM and trades in a paltry volume of roughly 25,000 shares per day. It has an expense ratio is 0.45% and has a Zacks ETF Rank #3 (Hold) with a High risk outlook.

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United States Brent Oil ETF (BNO): ETF Research Reports
 
United States Gasoline ETF (UGA): ETF Research Reports
 
Teucrium Wheat ETF (WEAT): ETF Research Reports
 
iPath Series B Bloomberg Nickel Subindex Total Return ETN (JJN): ETF Research Reports
 
United States Natural Gas ETF (UNG): ETF Research Reports
 
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