USLUnited States 12 Month Oil Fund LP
USL Fund Description
The United States 12 Month Oil Fund tracks light, sweet crude oil spot prices using an average of the 12 nearest-month NYMEX WTI crude oil futures contracts.
USL Factset Analytics Insight
USL doesn't measure up in size and liquidity to its big sister USO—few funds do—but it brings an alternative futures strategy to the table that's had some success. USL has a viable asset base and trades with adequate liquidity in retail quantities. While USO excels in both areas, USL offers 12 reasons to choose it instead. In an effort to beat contango—the decay of exposure to oil when the futures curve is upsloping—the fund takes a position in 12 different futures contracts, one for each upcoming month. In contrast, USO (and our benchmark) puts all its eggs in the near-month basket, making it more sensitive to contango. The tradeoff: USL has less sensitivity to short-term moves in spot oil.
USL CHARTS AND PERFORMANCE
USL Top 10 Holdings [View All]
USL Summary Data
USL Portfolio Data
USL Index Data
USL Portfolio Management
USL Tax Exposures
USL Fund Structure
USL Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of USL. USL is rated a 5 out of 5.
USL SECTOR BREAKDOWN
USL TOP 10 TARGETED COMMODITY WEIGHTS[View All]
USL Tenor Strategy
USL's laddered strategy invests in the nearest 12 forward contracts on the WTI curve.
USL Rolling Strategy
USL is rolled over the course of one day.
USL Performance Statistics
Options Strategies for Outcome Investing
A collar strategy is a protective option strategy constructed by writing a call and buying a put with the same expiration date while being long the underlying security.
A covered call is an income strategy constructed by writing a call option against a holding of the underlying security.