Unseasonably warm weather across the U.S. has kept natural gas futures-based exchange traded funds firmly depressed. ETF investors, though, may opt to gain exposure to the natural gas equities side as a less risky play on the natural gas market.

With oversupply concerns still weighing on the futures market, funds such as the U.S. Natural Gas Fund (NYSEArca: UNG) and iPath Natural Gas Total Return ETN (NYSEArca: GAZ) may be better suited as a gauge of the markets, writes Don Dion for TheStreet. [Warm Weather Saps Natural Gas ETFs]

However, an ETF linked to natural gas-related equities may be a better investment idea as producers continue to expand within the energy sector. [ETFs for Natural Gas]

For instance, Chevron (NYSE: CVX) recently revealed that it will go forward with its own shale natural gas production, expanding into the Marcellus Shale formation, despite the low gas prices, according to a Wall Street Journal article.

The First Trust ISE-Revere Natural Gas Index Fund (NYSEArca: FCG) provides investors with the opportunity to gain broad exposure to producers engaged in the production of natural gas.

For example, top holdings include Stone Energy (NYSE: SGY) 4.2%, Cimarex Energy (NYSE: XEC) 4.1% and EOG Resources (NYSE: EOG) 3.8%.

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