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U.S. Natural Gas(UNG Quote) soon may have a sibling in the form of the U.S. 12-Month Natural Gas fund. The new fund is designed to reduce the effects of contango by spreading the contract purchases over a 12-month period.
Instead of putting all the assets into one contract and rolling the total assets every month, the new fund will roll from the contract facing expiration and purchase the contract 12 months out.
The new ETF is a result of the success of UNG, which grew so large that it was distorting the market and exacerbating contango, the phenomenon of far future delivery prices exceeding those of a nearer future delivery. ...
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