UNG – United States Natural Gas – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to reflect the daily changes in percentage terms of the spot price of natural gas delivered at the Henry Hub, Louisiana, as measured by the daily changes in the price of a specified short-term futures contract. The fund invests primarily in futures contracts for natural gas that are traded on the NYMEX, ICE Futures Europe and ICE Futures U.S. (together, “ICE Futures”) or other U.S. and foreign exchanges. The Benchmark Futures Contract is the futures contract on natural gas as traded on the New York Mercantile Exchange that is the near month contract to expire, except when the near month contract is within two weeks of expiration.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
UNG	United States Natural Gas Fund, LP	ETF	Open	—	—	Apr 18, 2007	—	1.170%	—	—	—
—	United States Natural Gas Fund, LP	ETF	Open	—	—	Apr 18, 2007	—	1.170%	—	—	—
UNG	United States Natural Gas Fund, LP	ETF	Open	—	—	Apr 18, 2007	$471.34M	1.170%	—	—	−$215.21M

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