This ETF offers 3x daily leverage to natural gas prices, making UGAZ a powerful tool for expressing a bullish outlook on the energy sector. It should be noted that the daily reset feature combined with the explicit leverage in this ETF make UGAZ inappropriate for investors without the ability or willingness to monitor this position on a regular (daily) basis. Moreover, investors should note that the underlying index won't always move in unison with spot natural gas prices, even over the course of simply a single trading session. For sophisticated investors with a fair amount of tolerance for risk and volatility, this ETF can be a very powerful tool. But UGAZ shouldn't ever be found in a long-term, buy-and-hold portfolio; it's simply too risky, and the nuances of this fund make significant losses possible when held for an extended period of time in volatile markets. UGAZ is a trading instrument, and should be treated as such.
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