United States Commodity Funds has announced that the $1.3 billion United States Oil Fund (USO US), the largest ETF to provide exposure to oil prices, will begin reverting back to a front-month futures strategy next month.
United States Commodity Funds has introduced a new actively managed ETF that utilizes a mix of commodity derivatives and, to a lesser extent, equities to deliver exposure to three sustainability-focused themes: agriculture, renewable energy, and electrification.
United States Commodity Funds (USCF) has launched a new actively managed ETF that seeks positive returns in all market environments by going long and short across energy commodities.
United States Commodity Funds (USCF) has launched a new actively managed thematic ETF that utilizes a mix of commodity and equity exposures to target the battery metals investment theme.
ProShares has announced that its two leveraged oil ETFs will adopt a new underlying index in a bid to make the products more resilient to future disruption in crude oil markets.
The United States Oil Fund (USO US), the largest ETP globally to track changes in oil prices, is facing a regulatory reckoning after the SEC recommended that the fund and its management face enforcement action.
United States Commodity Funds (USCF) has announced substantial new changes to the investment strategy of the $3.6 billion United States Oil Fund (USO US), the largest ETF worldwide to provide exposure to oil prices. In a series of filings, USCF has revised the fund’s mandate to invest in a mix of WTI futures contracts with delivery dates stretching out as far as June 2021. It has also revised the contract roll process, extending the roll period from four to ten days, and expanded the mandate to include futures contracts for different types of oil and petroleum-based fuel.
Oil ETFs suffered sizable losses yesterday amid increased volatility as the rout, which at the start of the week sent the expiring West Texas Intermediate May delivery futures contract into negative territory, spread to contracts for later months. ETPs such as the United States Oil Fund (USO US) and WisdomTree WTI Crude Oil ETC (CRUD LN), which largely swerved Monday’s cataclysmic crash having rolled their exposure to June and July futures, felt the full brunt of yesterday’s sell-off, closing down 40% and 29% respectively.
Front-month US oil futures contracts crashed a staggering 307% yesterday with prices nosediving deep into negative territory for the first time in history. A barrel of West Texas Intermediate (WTI) crude oil for May delivery fell from its Friday close of $18.27 to a mind-boggling -$37.63 (as of Monday’s close), effectively meaning sellers were paying buyers to take their oil. While many futures traders will undoubtedly have suffered cataclysmic losses, major ETFs tracking WTI crude oil contracts were largely spared from the carnage – they had already rolled their oil contracts into June or beyond.
United States Commodity Funds has announced an immediate change to the investment strategy of the $4.9 billion United States Oil Fund (USO US), the largest ETF providing exposure to oil prices. Whereas USO previously invested exclusively in front-month futures contracts for West Texas Intermediate (WTI), the fund will henceforth dedicate 20% of its assets to tracking second-month contracts. The move offers pros and cons for investors.