USCF Announces Fee Reduction On Their Exchange Traded Funds (Tickers: SDCI, BUY, BUYN)
WALNUT CREEK, Calif., Aug. 16, 2019 /PRNewswire/ -- USCF announced today that it implemented fee waivers for all three of its exchange-traded funds (ETFs) effective August 15, 2019: the USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI), the USCF SummerHaven SHPEI Index Fund (BUY) and the USCF SummerHaven SHPEN Index Fund (BUYN). The fee waivers for the three ETFs will remain in effect until October 31, 2020 and may be renewed in the future with approval of the Board of Trustees of USCF ETF Trust.
SDCI is a broad commodity fund that uses the same index for its benchmark as the United States Commodity Index Fund (USCI).
BUY and BUYN are index funds that seek to bring private equity like returns to retail investors.
The following table lists the prior fees and expenses and the new reduced fees and expenses for each of the ETFs:
Product | Prior Fees | New Fees |
USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | ||
Management Fee1 | 0.80% | 0.80% |
USCF SummerHaven SHPEI Index Fund | ||
Management Fee1 | 0.95% | 0.95% |
USCF SummerHaven SHPEN Index Fund | ||
Management Fee1 | 0.95% | 0.95% |
(1) | The Fund pays USCF Advisers LLC (the "Adviser") an annual unitary management fee based upon the Fund's average daily net assets at the rate set forth above. The Adviser is responsible for all expenses of the Fund except expenses for taxes and governmental fees; brokerage fees; commissions and other transaction expenses; costs of borrowing money, including interest expenses; securities lending expenses; extraordinary expenses (such as litigation and indemnification expenses); and fees and expenses of any independent legal counsel. |
(2) | The Adviser has contractually agreed to waive 0.20% of its management fees through October 31, 2020. The agreement may be amended or terminated prior to October 31, 2020 only by agreement of the Board of Trustees of USCF ETF Trust and the Adviser, and will terminate automatically if the investment advisory agreement between the Adviser and the Fund is terminated. After October 31, 2020, the Adviser, in its sole discretion, may choose to renew or amend the agreement. Amounts waived are not subject to recoupment by the Adviser. |
(3) | The Adviser has contractually agreed to waive 0.15% of its management fees through October 31, 2020. The agreement may be amended or terminated prior to October 31, 2020 only by agreement of the Board of Trustees of USCF ETF Trust and the Adviser, and will terminate automatically if the investment advisory agreement between the Adviser and the Fund is terminated. After October 31, 2020, the Adviser, in its sole discretion, may choose to renew or amend the agreement. Amounts waived are not subject to recoupment by the Adviser. |
About USCF
USCF operates on the leading edge of product innovation as an asset management firm offering exchange- traded products (ETPs) and exchange-traded funds (ETFs). The firm broke new ground with the launch of the first oil ETP, the United States Oil Fund, LP (USO), in 2006. Over the next decade, USCF designed and issued twelve more specialty products across commodity and private equity asset classes.
Forward Looking Statements
Statements other than statements of historical facts included in this press release may constitute forward looking statements and are not guarantees of future performance or results and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by the Company with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
USCF is a registered trademark. All rights reserved.
John P. Love and Katie Rooney are registered representatives of ALPS Distributors, Inc.
Past performance does not guarantee future results.
EXCHANGE TRADED PRODUCT DISCLOSURES
We advise you to consider a Fund's objectives, risks, charges and expenses carefully before investing. Download a copy of a Fund's Prospectus by clicking one of the following: USCI, USO which contains this and other information, or contact the Fund's distributor at: ALPS Distributors, Inc., 1290 Broadway, Suite 1100, Denver, Colorado 80203 or call 800-920-0259. Please read the Fund's Prospectus carefully before investing.
USCI and USO are commodity pools regulated by the Commodity Futures Trading Commission. These Funds, which are ETPs, are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.
Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. An investor may lose all or substantially all of an investment. Investing in commodity interests subject each Fund to the risks of its related industry. These risks could result in large fluctuations in the price of a particular Fund's respective shares. Funds that focus on a single sector generally experience greater volatility. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.
EXCHANGE TRADED FUND DISCLOSURES
We advise you to consider a fund's objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund's Prospectus by clicking one of the following: BUY, BUYN or SDCI. Please read any Prospectus carefully before investing.
An investment in the USCF SummerHaven SHPEI Index Fund (BUY), the USCF SummerHaven SHPEN Index Fund (BUYN) or the USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI) may not be suitable for all investors.
Investing involves risks, including loss of principal. The market value of shares of common stock can be volatile and change quickly. There is no guarantee that the fund's objective will be met. Fund concentration generally leads to greater price volatility. Foreign investing involves special risks such as currency fluctuations and political uncertainty. Investment in small companies generally experience greater price volatility.
Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. An investor may lose all or substantially all of an investment. Investing in commodity interests subject each Fund to the risks of its related industry. These risks could result in large fluctuations in the price of a particular Fund's respective shares. Funds that focus on a single sector generally experience greater volatility. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.
BUY, BUYN and SDCI shares are not individually redeemable. Individual investors must buy and sell BUY, BUYN and SDCI shares in the secondary market through their brokerage firm. Brokerage commissions may apply and will reduce returns.
Funds distributed by and not affiliated with ALPS Distributors, Inc.
USO002026 Exp. 8/31/2021
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SOURCE USCF
