FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2020

FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of valuation of UNG's securities using the fair value hierarchy

The following table summarizes the valuation of UNG’s securities at June 30, 2020 using the fair value hierarchy:

At June 30, 2020	Total		Level I		Level II		Level III
Short-Term Investments	$	368,750,955	$	368,750,955	$	—	$	—
Exchange-Traded Futures Contracts
United States Contracts		1,356,010		1,356,010		—		—

The following table summarizes the valuation of UNG’s securities at December 31, 2019 using the fair value hierarchy:

At December 31, 2019	Total		Level I		Level II		Level III
Short-Term Investments	$	418,959,876	$	418,959,876	$	—	$	—
Exchange-Traded Futures Contracts
United States Contracts		(20,768,690)		(20,768,690)		—		—

Schedule of fair value of derivative instruments

Fair Value of Derivative Instruments

Derivatives not	Condensed
Accounted for	Statements of	Fair Value		Fair Value
as Hedging	Financial	at June 30,		at December 31,
Instruments	Condition Location	2020		2019
Futures - Commodity Contracts	Assets	$	1,356,010	$	(20,768,690)

Schedule of effect of derivative instruments on the condensed statements of operations

The Effect of Derivative Instruments on the Condensed Statements of Operations

		For the six months ended				For the six months ended
		June 30, 2020				June 30, 2019
				Change in				Change in
	Location of	Realized		Unrealized		Realized		Unrealized
Derivatives not	Gain (Loss)	gain (Loss)		Gain (Loss) on		Gain (Loss)		Gain (Loss) on
Accounted for	on Derivatives	on Derivatives		Derivatives		in Derivatives		Derivatives
as Hedging	Recognized in	Recognized in		Recognized in		Recognized in		Recognized in
Instruments	Income	Income		Income		Income		Income
Futures - Commodity Contracts	Realized gain (loss) on closed positions	$	(227,224,580)			$	(104,711,777)
	Change in unrealized gain (loss) on open positions			$	22,124,700			$	61,939,447