USL

United States 12 Month Oil Fund LP
*Unless otherwise stated, data provided by FactSet.

USL Fund Description

USL 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 offers an alternative method of exposure to oil in a viable vehicle. The fund brings an alternative futures strategy to the table that's had some success. In an effort to beat contango the decay of exposure to oil when the futures curve is up sloping the fund takes a position in 12 different futures contracts, one for each upcoming month. This will mean it will have less sensitivity to short-term moves in spot oil. Investors should consider using limit orders to manage spreads. USL’s legal structure isn’t unusual in the commodities space, but it does change the tax structure and result in a K-1 at tax time.

PERFORMANCE [as of 07/27/21] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
USL -1.09% 16.59% 48.40% 64.47% 0.77% 8.01% -5.56%
USL (NAV) -1.72% 14.24% 47.29% 61.95% 0.91% 8.35% -5.43%
12 Month Light Sweet Crude Oil -- -- -- -- -- -- --
S&P GSCI Crude Oil Index -2.40% 15.16% 49.67% 68.66% -18.80% -4.71% -14.43%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

USL Summary Data

12/06/07
Commodities Pool
0.88%
$175.53M
$2.02M
0.10%

USL Portfolio Data

Futures
Laddered
Monthly
--

USL Index Data

Single Asset
Single Asset
S&P GSCI Crude Oil Index

USL Portfolio Management

0.88%
--
--
--

USL Tax Exposures

27.84% / 27.84%
--
Yes

USL Fund Structure

Commodities Pool
No
N/A
N/A
N/A
Low
Daily

USL Factset Analytics Block Liquidity

As of 07/28/21
5
4
3
2
1

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 Tradability

81,744
$2.02M
71,162
$1.75M
0.10%
$0.03
-0.16%
0.55% / -1.45%
None
100.00%
50,000
1.42
0.03%
--
7,014
$25.38
5

USL Sector Breakdown


USL
Segment Benchmark
100.00%
100.00%

USL Top 10 Targeted Commodity Weights

56.67%
43.27%
0.06%
100.00%

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

0.99
0.86
0.87
0.89
0.00%