United States Natural Gas Fund (UNG) Asset Utilization Ratio (2013 - 2025)
United States Natural Gas Fund (UNG) recorded quarterly Asset Utilization Ratio of 0.64 in Q4 2025, down 26.15% on a QoQ basis from 0.86 in Q3 2025, and up 37.46% YoY from 0.46 in Q4 2024.
Analysis
United States Natural Gas Fund (UNG) Asset Utilization Ratio (2013 - 2025) Analysis & Trends
United States Natural Gas Fund (UNG) has reported Asset Utilization Ratio for 13 consecutive years, with 0.64 the latest figure, recorded in Q4 2025.
- For the quarter ending Q4 2025, Asset Utilization Ratio rose 37.46% year-over-year to 0.64; the trailing twelve-month figure through Dec 2025 stood at 0.64 (up 37.46% YoY), and the FY2025 full-year result was 0.01, down 87.6% from the prior year.
- Asset Utilization Ratio was 0.64 for Q4 2025 at United States Natural Gas Fund, down from 0.86 in the prior quarter.
- The five-year high for Asset Utilization Ratio was 1.62 in Q1 2022, with the low at 0.46 in Q4 2024.
- Historically, Asset Utilization Ratio has averaged 0.91 across 5 years, with a median of 0.83 in 2021.
- Annual changes were most pronounced in 2022 — Asset Utilization Ratio jumped 176.77% — and 2023, when it tumbled 49.81%.
- Tracing UNG's Asset Utilization Ratio over 5 years: stood at 1.16 in 2021, then rose by 9.45% to 1.27 in 2022, then plunged by 35.04% to 0.83 in 2023, then sank by 43.93% to 0.46 in 2024, then jumped by 37.46% to 0.64 in 2025.
- Per Business Quant data, the three most recent Asset Utilization Ratio figures were 0.64 in Q4 2025, 0.86 in Q3 2025, and 0.96 in Q2 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Asset Util. (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 169.89 Bn | 156.02 Bn | - | 0.16 |
| 2 | Spdr Gold Trust | 144.81 Bn | -413.20 Bn | - | - |
| 3 | Ishares Gold Trust | 30.30 Bn | -29.81 Bn | - | - |
| 4 | World Gold Trust | 29.28 Bn | -73.79 Bn | - | - |
| 5 | Principal Financial | 24.84 Bn | -28.13 Bn | 1.91 Bn | 0.05 |
| 6 | iShares Silver Trust | 22.15 Bn | -6.05 Bn | - | - |
| 7 | Franklin Resources | 17.84 Bn | 14.12 Bn | - | 0.27 |
| 8 | Invesco | 14.63 Bn | 13.72 Bn | 1.79 Bn | 0.25 |
| 9 | Affiliated Managers | 9.51 Bn | 9.10 Bn | - | 0.24 |
| 10 | United States Natural Gas Fund | 445.85 Mn | 158.25 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 0.64 |
| Sep 30, 2025 | 0.86 |
| Jun 30, 2025 | 0.96 |
| Mar 31, 2025 | 0.72 |
| Dec 31, 2024 | 0.46 |
| Sep 30, 2024 | 0.72 |
| Jun 30, 2024 | 0.86 |
| Mar 31, 2024 | 0.66 |
| Dec 31, 2023 | 0.83 |
| Sep 30, 2023 | 0.73 |
| Jun 30, 2023 | 0.74 |
| Mar 31, 2023 | 0.99 |
| Dec 31, 2022 | 1.27 |
| Sep 30, 2022 | 1.35 |
| Jun 30, 2022 | 1.48 |
| Mar 31, 2022 | 1.62 |
| Dec 31, 2021 | 1.16 |
| Sep 30, 2021 | 0.82 |
| Jun 30, 2021 | 0.74 |
| Mar 31, 2021 | 0.59 |