8-K: Commodity Funds Report Mixed June Performance

United States Commodity Index Funds Trust released monthly account statements showing significant unrealized losses across its USCI and CPER funds for June 2026, impacting overall net asset value.

Summary

• The United States Commodity Index Funds Trust (Registrant) has issued its monthly account statements for June 30, 2026, for its series: United States Commodity Index Fund (USCI) and United States Copper Index Fund (CPER).
• USCI reported a net loss of $19,656,849 for the month, primarily driven by unrealized losses on commodity futures.
• CPER reported a net loss of $22,496,952 for the month, also largely due to unrealized losses on commodity futures.
• The total net loss across all series of the Trust for the month was $42,153,801, stemming from significant unrealized losses on market value of commodity futures.
• Net asset value for USCI decreased to $337,396,879 from $371,240,829 at the beginning of the month.
• Net asset value for CPER decreased to $724,734,128 from $812,064,180 at the beginning of the month.
• The Chief Financial Officer, Stuart P. Crumbaugh, has certified the accuracy and completeness of the account statements.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a negative sentiment due to significant unrealized losses impacting the net asset value of the commodity funds.

Positives

• USCI and CPER generated positive realized trading gains on commodity futures ($9,931,024 for USCI and $24,647,575 for CPER).
• Both funds received dividend and interest income, contributing positively to overall income.
• USCI had ETF transaction fees of $1,050 and CPER had ETF transaction fees of $4,550.
• The total net asset value for the Trust remained substantial at $1,062,131,007 at the end of June 2026.

Negatives

• Significant unrealized losses on the market value of commodity futures heavily impacted both funds.
• USCI experienced an unrealized loss of $10,458,427 on commodity futures.
• CPER experienced an unrealized loss of $48,856,447 on commodity futures.
• The total net income (loss) for USCI was a loss of $19,368,695.
• The total income (loss) for CPER was a loss of $21,941,117.
• The total net income (loss) for the entire Trust was a loss of $42,153,801.
• Net asset value per share for USCI was $92.44.
• Net asset value per share for CPER was $37.75.

Risks

• Volatility in commodity markets leading to significant unrealized losses on futures contracts.
• Potential for further market value fluctuations impacting the net asset value of the funds.
• The reliance on commodity futures exposes the funds to inherent market risks.

Future Outlook

The filing consists of monthly account statements and does not contain specific forward-looking statements or guidance beyond the reported period's financial performance.

Management Comments

• Stuart P. Crumbaugh, Chief Financial Officer, represents that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended June 30, 2026 is accurate and complete.

Industry Context

StockSavvy.ai notes that the significant unrealized losses reported by USCI and CPER reflect the inherent volatility and risks associated with commodity futures trading, particularly during periods of market uncertainty or significant price swings in underlying commodities.

Stakeholder Impact

• Shareholders of USCI and CPER experienced a decrease in the net asset value of their investments due to market fluctuations.
• The sponsor, United States Commodity Funds LLC, is responsible for managing the funds and ensuring accurate reporting.

Next Steps

• Review of subsequent monthly account statements to monitor performance trends.
• Continued monitoring of commodity market conditions that may affect fund performance.

Key Dates

Recommendation

The filing reports significant unrealized losses, which is a negative development. However, the realized gains and income generated, along with the substantial net asset value, suggest that the funds are still operational and have potential for recovery. A 'hold' recommendation is appropriate pending further market developments and performance trends.

Keywords

Commodity Futures, Index Fund, Account Statement, Income Loss, Net Asset Value, Commodity Exchange Act, USCI, CPER