Fund Details
The United States Oil Fund® LP (USO) is an exchange-traded security designed to track the daily price movements of West Texas Intermediate ("WTI") light, sweet crude oil. USO issues shares that may be purchased and sold on the NYSE Arca.
The investment objective of USO is for the daily changes in percentage terms of its shares' NAV to reflect the daily changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily changes in price of USO's Benchmark Oil Futures Contract, less USO's expenses.
USO's Benchmark is the near month crude oil futures contract traded on the NYMEX. If the near month futures contract is within two weeks of expiration, the Benchmark will be the next month contract to expire. The crude oil contract is WTI light, sweet crude oil delivered to Cushing, Oklahoma.
USO invests primarily in listed crude oil futures contracts and other oil-related futures contracts, and may invest in forwards and swap contracts. These investments will be collateralized by cash, cash equivalents, and US government obligations with remaining maturities of two years or less.
USO's Fund Benefits
- USO offers commodity exposure without using a commodity futures account.
- USO provides features including, intra-day pricing, and market, limit, and stop orders.
- USO provides portfolio holdings, market price, NAV and TNA on its website each day.
| Ticker | USO |
| Intraday Indicative Value | USO.IV |
| CUSIP | 91232N108 |
| ISIN | US91232N1081 |
| Minimum Trade | 1 share |
| Marginable | YES |
| Options Traded | YES |
| Management Fee | 0.45% |
| Total Expense Ratio | 0.73% |
| Trading Increment | $0.01 |
| Administrator | The Bank of New York Mellon |
| Distributor | ALPS Distributors, Inc. |
| General Partner | United States Commodity Funds, LLC |
The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted.
Performance
| 1 Month | 3 Month | YTD | 1 Year | 5 Years | 10 Years | Since Inception Cumulative† | Since Inception Annualized† | |
|---|---|---|---|---|---|---|---|---|
| Net Asset Value | -54.70% | -66.82% | -66.82% | -66.08% | -24.13% | -20.22% | -93.71% | -17.95% |
| Market Price | -55.45% | -67.14% | -67.14% | -66.32% | -24.21% | -20.22% | -93.75% | -17.99% |
| Benchmark | -54.69% | -66.86% | -66.86% | -66.46% | -24.40% | -19.99% | -93.84% | -18.07% |
The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted.
The Fund's NAV is calculated by dividing the value of the Fund's total assets less total liabilities by the number of shares outstanding. Share price returns are based on closing prices for the Fund and do not represent the returns an investor would receive if shares were traded at other times.
† USO commenced operations on 04/10/2006
Growth of $10,000 Investment
This chart shows how a hypothetical investment of $10,000 in the Fund at its inception would have performed versus an investment in the Fund’s benchmark futures contract(s). The values indicate what $10,000 would have grown to over the time period indicated. The hypothetical example does not represent the returns of any particular investment.
The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted.
Average Daily Returns
The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted.
Premium / Discount
| Premium/Discount Daily Information as of 04/20/2020 | |
|---|---|
| NAV | $3.46 |
| 4PM Bid/Ask Midpoint | $3.73 |
| Difference ($) | $0.27 |
| Premium/Discount (%) | 7.80% |
The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted.
The above frequency distribution chart presents information about the difference between the daily market price for shares of the Fund and the Fund's reported NAV. The amount that the Fund's market price is above the reported NAV is called the premium. The amount that the Fund's market price is below the reported NAV is called the discount. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 pm Eastern time). The vertical axis of the chart shows the premium or discount expressed in basis points. The horizontal axis indicates the number of trading days in the period covered by the chart. Each bar in the chart shows the number of trading days in which the Fund traded within the premium/discount range indicated.
* A basis point is equal to 1/100th of 1%.
Creation & Redemption Process
- Creation/Redemption Basket Size 100,000 Shares
- Transaction charge for each Authorized Purchasers Order is $1,000 (per order, not per basket)
- Order Cut-off for AP's is 12:00 p.m. ET
- USO's NAV is calculated generally around 4:00 pm ET
- Settlement is T+2
- Custodian is The Bank of New York Mellon
- Marketing Agent is ALPS Distributors, Inc.
Reference: http://www.uscfinvestments.com/uso
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