Fund Description
The investment objective of USL is to have the changes in percentage terms of the units net asset value reflect the changes in percentage terms of the price of light sweet crude oil delivered to Cushing Oklahoma as measured by the changes in the average of the prices of 12 Futures Contracts on crude oil traded on the New York Mercantile Exchange (the Benchmark Futures Contracts) consisting of the near month contract to expire and the contracts for the following eleven months for a total of 12 consecutive months contracts except when the near month contract is within two weeks of expiration in which case it will be measured by the futures contracts that are the next month contract to expire and the contracts for the following eleven consecutive months less USLs expenses. When calculating the daily movement of the average price of the 12 contracts each contract month will be equally weighted.
Fund Profile
Fund Name United States 12 Month Oil Fund LP
Fund Exchange Ticker USL
Fund Sponsor United States Commodity Funds
Fund ISIN US91288V1035
Net Expense Ratio 0.88 %
Fund Inception Date 6 December 2007
Fund Legal Structure Limited Partnership
Exchange NYSE Arca
Listing Country Code US
Fund Investment Objective
ETF Type Specific Commodities & Metals - Energy
Asset Class Commodities & Metals
Index Linked Passive
Index Name Crude Oil - NYMEX traded light sweet crude oil next 12 months average futures contracts
Index Provider Not Applicable
Currency Hedged No
Inverse / Leveraged Not Applicable
Developed / Emerging Funds Combining Developed & Emerging Exposure
Commodity Types Energy
Key Statistics
Return As of Date 11 August 2022
Asset Under Management 114.96 Million (USD)
1 Month Total Return 5.37 %
Year To Date Return 36.91 %
1 Year Total Return 56.98 %
3 Year Annualized Total Return 23.77 %
NAV 38.32
Share Outstanding 3,000,000
Top 10 Holdings (12 August 2022)
Constituent Name Constituent Ticker Constituent Type Weighting
US DOLLARS CASH 0.2808447061
WTI CRUDE FUTURE Nov22 FUTR 0.0450792796
WTI CRUDE FUTURE Oct22 FUTR 0.0449518591
WTI CRUDE FUTURE Dec22 FUTR 0.0447270590
WTI CRUDE FUTURE Jan23 FUTR 0.0443500341
WTI CRUDE FUTURE Mar23 FUTR 0.0435513366
WTI CRUDE FUTURE Feb23 FUTR 0.0435363622
WTI CRUDE FUTURE Apr23 FUTR 0.0431842334
WTI CRUDE FUTURE May23 FUTR 0.0428419345