Natural Gas ETFs List: Top Funds for Energy Market Exposure

Natural gas is composed primarily of methane and serves as the most versatile fossil fuel — used for electricity generation, industrial heat, chemical feedstock, and heating in buildings. The United States has been the world’s top producer since surpassing Russia in 2009, while Asia accounts for the majority of global LNG imports, led by Japan, South Korea, and China.

Natural gas ETFs track the price changes of this commodity through several distinct structures:

• Futures-based ETFs: Funds like the United States Natural Gas Fund (UNG) and the United States 12 Month Natural Gas Fund (UNL) gain exposure through futures contracts on the NYMEX, priced at Henry Hub, Louisiana. These funds do not hold physical natural gas — UNG is actually structured as a partnership, not a traditional ETF.
• Equity / E&P ETFs: Funds like the First Trust Natural Gas ETF (FCG) and Global X U.S. Natural Gas ETF (LNGX) invest in companies involved in natural gas exploration, production, and midstream activities.
• Leveraged and inverse ETFs: ProShares Ultra Bloomberg Natural Gas (BOIL) seeks 2x daily returns, while ProShares UltraShort Bloomberg Natural Gas (KOLD) targets −2x daily returns. These may require special trading permission.

One structural consideration with futures-based natural gas ETFs is contango risk: when future contracts are priced higher than near-term ones, the fund must sell low and buy high during each monthly roll, creating a persistent drag on returns over time.

Equity-focused natural gas ETFs tend to include companies that also operate in oil and gas, since few publicly traded firms work exclusively in natural gas production. For a broader view of commodity-linked funds, see our complete list of commodity ETFs.

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The table below lists natural gas ETFs with live pricing, net asset value, and daily trading volume, updated intraday.