Question: are dgaz and ugaz inverse?
Answer: There are two 3X leveraged ETFs in relation to UNG, and those are UGAZ and DGAZ. They are the VelocityShares funds that apply 300% and -300% to the S&P GSCI Natural Gas Index Excess Return (SPGSNGP). ... DGAZ is the inverse, so as UNG increases 1%, DGAZ falls 3%.