United States Commodity Funds

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United States Commodity Funds LLC
Type Private, employee-owned
Industry Investment management
Headquarters Alameda, California, U.S.
Products Exchange-traded funds, asset management, commodities
Total assets US$4.8 bn (September 30, 2010)
Employees 10 (2010)
Website www.unitedstatescommodityfunds.com

United States Commodity Funds LLC (USCF) is a US company based in Alameda, CA, specializing in managing exchange-traded commodity funds, which are often referred to as commodity-based exchange-traded funds (ETFs).[1] USCF was one of the earliest issuers of exchange-traded commodity funds in the United States. It is best known for launching in 2006 the first crude oil based exchange traded commodity fund in the United States, United States Oil Fund, LP (ticker: USO), as well as launching in 2007 the first natural gas exchange traded commodity fund, United States Natural Gas Fund, LP (ticker: UNG).[2] USO and UNG are two of the most actively traded ETFs in the United States.[3] As of September 30, 2010, USCF managed nine different exchange traded commodity funds with total assets of $4.8 billion.[1]

History[edit]

United States Commodity Funds LLC is an issuer of exchange traded commodity funds. It was founded in 2005 in Alameda, CA. The first fund it launched, in 2006, was United States Oil Fund, LP. USO was the first commodity ETF based on crude oil launched in the United States. USO was the fourth commodity ETF launched in the United States, after the SPDR Gold Shares Trust (ticker: GLD), the iShares COMEX Gold Trust (ticker: IAU), and the Powershares DB Commodity Index Fund (ticker: DBC).[2] USO is the largest and most actively traded oil-based ETF in the United States.[3]

In 2007, USCF launched United States Natural Gas Fund, LP, the first natural gas based ETF. UNG is the largest and most actively traded natural gas commodity ETF in the United States. USCF also launched the first gasoline based commodity ETF, United States Gasoline Fund, LP (ticker:UGA), and the first heating oil based commodity ETF, the United States Heating Oil Fund, LP, both in 2008. In 2010, USCF launched the first commodity ETF in the United States that invested in Brent crude oil, although previously a Brent crude oil based commodity ETF had been launched in London.[1]

In 2010, USCF launched its first non-energy specific commodity ETF, United States Commodity Index Fund (ticker:USCI), which holds a diversified basket of commodity futures based on the SummerHaven Dynamic Commodity Index ("SDCI"). The SDCI is the first broadly diversified commodity index whose commodity weightings are not fixed, but which instead are adjusted to reflect market conditions.[4]

USCF's commodity exchange traded funds are all listed on the New York Stock Exchange. Prior to the merger of the American Stock Exchange with the New York Stock Exchange, all of USCF's funds were listed for trading on the American Stock Exchange.[1]

On October 6, 2010, commodity index provider SummerHaven Index Management announced that USCF had licensed two new indexes from SummerHaven.[5]

Funds[edit]

The ETCs offered by USCF include eight single commodity funds, each based on an energy related commodity, and one commodity fund based on a diversified commodity index, the SummerHaven Dynamic Commodity Index. The full listing of USCF funds is:

  • United States Oil Fund, LP (ticker: USO)
  • United States Natural Gas Fund, LP (ticker: UNG)
  • United States 12 Month Oil Fund, LP (ticker: USL)
  • United States Gasoline Fund, LP (ticker: UGA)
  • United States Heating Oil Fund, LP (ticker: UHN)
  • United States Short Oil Fund, LP (ticker: DNO)
  • United States 12 Month Natural Gas Fund, LP (ticker: UNL)
  • United States Brent Oil Fund, LP (ticker: BNO)
  • United States Commodity Index Fund (ticker: USCI)

References[edit]

  1. ^ a b c d "United States Commodity Funds". United States Commodity Funds. 2012-10-31. Retrieved 2012-11-11. 
  2. ^ a b Prof. Seddik Meziani, Risk Books (2009) "Exchange Traded Funds: Conceptual and Practical Investment Approaches", ISBN 1-906348-23-5
  3. ^ a b "ETFR: Exchange Traded Funds Report" issue 118, September 2010
  4. ^ SummerHaven Index Management, LLC. "SummerHaven Commodity Index Management: Investment Tools". Summerhavenindex.com. Retrieved 2012-11-11. 
  5. ^ Murphy, Cinthia (2010-10-19). "SummerHaven, US Commodity In Indexing Pact - Yahoo! Finance". Finance.yahoo.com. Retrieved 2012-11-11. 

External links[edit]