OAKLAND, Calif., April 10, 2016 /PRNewswire/ -- The United States Oil Fund (USO) is 10 years old today. Launched in 2006 by Oakland based investment manager, United States Commodity Funds, USO propelled the firm into the exchange traded fund (ETF) market with the first oil and first single-commodity ETF. Over the years -- and after eleven additional investment products -- the company has become known as USCF.
"USO permanently changed the investment landscape by giving Main Street investors the ability to trade crude oil alongside professional traders," says John Love, President and Chief Executive Officer of USCF. "Since 2006, USO has become a benchmark for energy volatility as well as actual, investable returns in crude oil."
Prior to USO's launch, it was difficult to observe actual returns to crude oil because the futures contracts underlying such an investment are quoted without factoring in the costs that often exist to "roll" those contracts forward. Similarly, changes in spot oil prices do not include costs to store, transport, or insure barrels of oil. By trading and rolling futures contracts, USO traces a path that an investment in crude oil looks like in the real world.
The strategy has proved popular in the marketplace. The fund is consistently one of largest commodity ETFs and one of the most liquid stocks among all types of listings. USO was recently named one of the "15 Most Important ETFs" by ETF.com.
"USCF is very proud to celebrate the 10 year anniversary of USO, our first ETF," says Love, "and we look forward to launching more groundbreaking products in the years to come."
Distributed by ALPS Distributors, Inc.
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.
This material must be preceded or accompanied by a prospectus. Please read it carefully before investing or sending money.
USCF is a registered trademark. All rights reserved.
United States Oil Fund, LP (USO), United States Natural Gas Fund, LP (UNG), United States 12 Month Oil Fund, LP (USL), United States Gasoline Fund, LP (UGA), United States 12 Month Natural Gas Fund, LP (UNL), United State Brent Oil Fund, LP (BNO), United States Short Oil Fund, LP (DNO), United States Diesel-Heating Oil Fund, LP (UHN), United States Commodity Index Fund (USCI), United States Copper Index Fund (CPER) and United States Agriculture Index Fund (USAG), (together "the Funds").
The Funds 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 and futures trading is highly speculative and generally volatile and are not suitable for all investors. The Funds are speculative and involve a high degree of risk. An investor may lose all or substantially all of an investment in the Funds.
Please review the prospectus for the breakeven calculations for the Funds. Ordinary brokerage commissions apply. Shares of the Funds are not FDIC insured, may lose value and have no bank guarantee. Indexes are unmanaged and do not reflect the deduction of any fees, expenses or taxes; individuals cannot invest directly in an Index. Only authorized participants may purchase or sell directly with the Funds. The Funds are not operated in a fashion such that their NAVs will reflect the percentage change of the price of any particular futures contract as measured over a time period greater than one day. It is not the intent to operate the Funds in a fashion such that their NAV will equal in dollar terms, the spot price of any particular futures contract.
John P. Love is a registered representative of ALPS Distributors, Inc.
For additional information, write: ALPS Distributors, Inc. 1290 Broadway, Suite 1100, Denver, CO 80203, or call 1-800-920-0259
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SOURCE United States Commodity Funds