USL: Understanding The Structure And Suitability Of This Commodity ETF

2026-01-30 15:29:20 ET

The United States 12 Month Oil Fund, LP ETF ( USL ) is an exchange-traded fund that is designed to track the daily price movements of West Texas Intermediate crude oil. The website for the fund states:

The investment objective of USL is for the daily changes in percentage terms of its shares’ net asset value to reflect the daily changes in percentage terms of the price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily changes in the average of the prices of USL’s Benchmark Oil Futures Contracts, plus interest earned on USL’s collateral holdings, less USL’s expenses.

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