Market Insights
Will Hormuz Crisis Delay Anthropic IPO Further?
While seemingly unrelated, market conditions and trends link Anthropic to the Middle East crisis
ISIN:
XS3299458714
3x Long Natural Gas
NAV as of 19 Oct 2026, 12:00 AM UTC
$4.32 (-5.68%)
Year-To-Date Change
-58.36%
-
LSE
-
XAMS
-
Borsa Italiana
Capital at risk. NAV calculated by Leverage Shares. For more information on the calculation please click here
Overview
What is the Long Natural Gas ETC?
The Leverage Shares 3x Long Natural Gas ETC (ISIN XS3299458714) is an exchange traded commodity (ETC) that seeks to deliver the daily performance of United States Natural Gas Fund (UNG). It is fully collateralised and does not use swaps to achieve its exposure, so investors are not exposed to a swap counterparty. It does not use leverage, so it is not subject to volatility decay. You cannot lose more than the amount you invest. The Leverage Shares 3x Long Natural Gas ETC has an annual management fee of 0.35% and is listed on the following exchanges: London Stock Exchange, Euronext Amsterdam, Borsa Italiana. It can be held over longer periods as well as traded intraday.
ETC objective
To seek daily investment results, before fees and expenses, that correspond to 300% (3x) the daily performance of the underlying stock (UNG).
Who is this product for?
Sophisticated investors and active traders seeking to magnify short-term bullish views or tactically hedge positions, via transparent leverage and without a margin account.
*However, these are complex products.
Value of Underlying Assets
$519,276
or 49,644 shares of UNG
AUM
$172,844
or 40,005 shares of NGL3
Liabilities
$346,432
Listings & Tickers
Key Facts
Net Asset Value
- NAV (as of 19 Oct 2026)
- $4.32
- Daily Return (% NAV change)
- -5.68%
- Daily Change (of NAV)
- $-0.26
Structure
- Structure
- ETC
- Domicile
- Ireland
- Replication Method
- Physical
- Dividends
- Reinvested
- Underlying Asset
- UNG
- Target Weights
- Rebalance Frequency
Fees
- Annual Management Fee
- 0.35%
- Interest Paid On Cash Balances
- Performance Fee
- Stock Borrow Rate
Tax & Legal
- ISA
- Eligible
- SIPP
- Eligible
- UK Fund Reporting Status
- Yes (effective 16/06/2026)
- US IRS Sec 871(m)
- Not applicable
Passported Countries:
United Kingdom
Italy
Germany
France
Spain
Netherlands
Ireland
Poland
Belgium
Sweden
Norway
Austria
* The information on this website regarding UK Fund Reporting Status is accurate as of the stated effective date (the "Effective Date"). Leverage Shares makes no representation or warranty that such information will remain accurate, complete or current thereafter, assumes no obligation to update it, and, to the fullest extent permitted by applicable law, accepts no responsibility or liability for any inaccuracies or omissions arising after the Effective Date.
Key Services Providers
- Issuer
- Leverage Shares plc
- Arranger
- Leverage Shares Management Company Limited
- Trustee
- Apex Corporate Trustees (UK) Limited
- Issuing and Paying Agent
- U.S. Bank Europe DAC
- Registrar
- U.S. Bank Europe DAC
- Portfolio Administrators
- Flexinvest Limited
- Stock Borrowing Provider and Custodian
- Interactive Brokers LLC and/or Morgan Stanley & Co. LLC and/or Pershing LLC
- Determination Agent
- Calculation Agent Services LLC
- Initial Authorised Participant
- BNP Paribas Arbitrage S.N.C.,Virtu Financial Ireland Limited, Flow Traders and others
- Sponsor
Fact Sheet
Reportable Income
EMT
Supplemental Trust Deeds
Supplement (CBI)
07 July 2026
Supplement (FCA)
07 July 2026
Prospectus (CBI)
11 June 2026
Prospectus (FCA)
09 June 2026
Prospectus (CBI)
13 March 2026
Prospectus (FCA)
13 March 2026
Prospectus (CBI)
17 July 2024
Prospectus (FCA)
17 July 2024
Prospectus (CBI)
15 March 2024
Prospectus (FCA)
15 March 2024
Prospectus (CBI)
18 October 2023
Prospectus (FCA)
18 October 2023
Prospectus (CBI)
04 May 2023
Prospectus (FCA)
04 May 2023
Supplement
01 June 2022
Prospectus
16 May 2022
Prospectus
07 December 2021
Supplement
08 October 2021
Supplement
17 September 2021
Supplement
06 May 2021
Supplement
04 March 2021
Prospectus
18 December 2020
Prospectus
06 November 2020
Prospectus
05 February 2020
Half Financial Year Ended
31.12.2025
Financial Year Ended
30.06.2025
Half Financial Year Ended
31.12.2024
Financial Year Ended
30.06.2024
Half Financial Year Ended
31.12.2023
Financial Year Ended
30.06.2023
Half Financial Year Ended
31.12.2022
Financial Year Ended
30.06.2022
Half Financial Year Ended
31.12.2021
Financial Year Ended
30.06.2021
Half financial year ended
31.12.2020
Financial Year Ended
30.06.2020
Half Financial Year Ended
31.12.2019
For the Year Ended
30.06.2019
From 01.07.18 to 31.12.18
31.12.2018
From 27.01.17 to 30.06.18
30.06.2018
Notices
Latest Notice
18.09.2026
Batch Notification
11.09.2026
Notice Appointment of Authorised Participants
26.08.2026
Notification of New Series
21.07.2026
Batch Notification
19.06.2026
Notice to ETP Securityholders
03.06.2026
Notices of Investment Strategy Modifications
21.05.2026
Batch Notification
30.04.2026
Notification of New Series
24.03.2026
Notification of New Series
23.03.2026
Batch Notification
02.11.2023
Notice of Late Filing of Audited Financial Report
19.10.2023
Notice to ETP Securityholders
20.09.2023
Notice of Migration to IB LLC
04.05.2023
Notice of Amended and Restated Conditions
Frequently Asked Questions about the 3x Long Natural Gas ETC
The Leverage Shares 3x Long Natural Gas ETC (ISIN XS3299458714) is an exchange traded commodity (ETC) that seeks to deliver the daily performance of United States Natural Gas Fund (UNG). It is listed on the following exchanges: London Stock Exchange, Euronext Amsterdam, Borsa Italiana.
The Leverage Shares 3x Long Natural Gas ETC has an annual management fee of 0.35%.
The Leverage Shares 3x Long Natural Gas ETC is fully collateralised and does not use swaps to achieve its exposure, so investors are not exposed to a swap counterparty. Its exposure is obtained through the underlying commodity instruments, which are rolled forward before expiry where futures are used.
The Leverage Shares 3x Long Natural Gas is an exchange traded commodity, not an ETF. ETCs are structured as debt securities and lie outside the remit of UCITS. While not UCITS compliant, they may be UCITS eligible, meaning they are capable of being an eligible investment for another UCITS fund. It trades on exchange in the same way as a share.
Yes. The Leverage Shares 3x Long Natural Gas ETC does not use leverage and does not rebalance daily to maintain a leverage target, so it can be held for more than one day. Where futures are used, returns over longer periods can be affected by the cost of rolling contracts forward.
Volatility decay is the effect of daily rebalancing and compounding on a leveraged product. Because the Leverage Shares 3x Long Natural Gas ETC does not use leverage and does not rebalance daily, it is not subject to volatility decay.
An investor in the Leverage Shares 3x Long Natural Gas ETC cannot lose more than the amount they invest. You could lose the full value of your investment if United States Natural Gas Fund (UNG) falls to zero.
Yes. Alongside the Leverage Shares 3x Long Natural Gas ETC, the Leverage Shares -3x Short Natural Gas ETC (ISIN XS3299459951) provides -3x exposure to United States Natural Gas Fund (UNG).
The Leverage Shares 3x Long Natural Gas ETC does not pay dividends. Its exposure is to a commodity, which does not pay dividends, and performance is reflected in the value of the ETC.
The Leverage Shares 3x Long Natural Gas ETC can be held over longer periods. Where futures are used, the cost of rolling contracts forward can cause returns to differ from the spot price of United States Natural Gas Fund (UNG) over time.
The Leverage Shares 3x Long Natural Gas ETC is fully collateralised. Leverage Shares does not use derivatives, like swaps, to offer its exposures.
Experienced investors may use the Leverage Shares 3x Long Natural Gas ETC for a variety of strategies. Some examples include taking a position on commodity prices, responding to technical indicators, and hedging existing exposures in a portfolio.
The Leverage Shares 3x Long Natural Gas ETC can be traded through brokerage accounts that have access to the exchanges where it is listed. It trades on the following exchanges, each with the ticker(s) to search on that exchange:
- London Stock Exchange: NGL3 (USD), 3UNG (GBP)
- Euronext Amsterdam: NGL3 (EUR)
- Borsa Italiana: NGL3 (EUR)
Related Articles
Market Insights
