8-K: United States Commodity Index Funds Trust Releases Monthly Account Statements for August 2024

United States Commodity Index Funds Trust has released its monthly account statements for August 2024, detailing the financial performance of its commodity and copper index funds.

Summary

• The United States Commodity Index Funds Trust released its monthly account statements for August 2024.
• The United States Commodity Index Fund (USCI) reported a net loss of $607,089 for the month, with a net asset value of $176,772,766 at the end of August.
• The United States Copper Index Fund (CPER) reported a net income of $496,397 for the month, with a net asset value of $164,289,639 at the end of August.
• The combined net asset value for the series of the United States Commodity Index Funds Trust was $341,062,405 at the end of August, with a net loss of $110,692 for the month.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the report contains both positive and negative results. The copper fund performed well, while the commodity fund experienced a loss. Overall, the results are within the expected range for these types of funds.

Positives

• The United States Copper Index Fund (CPER) generated a net income of $496,397 for the month of August.
• CPER experienced a net increase in shares of 450,000 during the month.

Negatives

• The United States Commodity Index Fund (USCI) reported a net loss of $607,089 for August.
• The combined series of the United States Commodity Index Funds Trust reported a net loss of $110,692 for August.
• USCI experienced a decrease in net asset value from $177,379,855 to $176,772,766 during the month.

Risks

• The funds are subject to market fluctuations in commodity futures, which can lead to both gains and losses.
• Changes in interest rates and dividend income can impact the overall performance of the funds.
• The funds are exposed to various expenses, including management fees, professional fees, and brokerage commissions, which can reduce net income.

Management Comments

• Stuart P. Crumbaugh, Chief Financial Officer of United States Commodity Funds LLC, certified the accuracy and completeness of the account statements.

Industry Context

This report provides insight into the performance of commodity-based exchange-traded funds (ETFs), which are often used by investors to gain exposure to commodity markets. The results reflect the volatility and market conditions during August 2024.

Comparison to Industry Standards

• The performance of USCI and CPER can be compared to other commodity and copper ETFs, such as the Invesco DB Commodity Index Tracking Fund (DBC) and the Global X Copper Miners ETF (COPX).
• The expense ratios of USCI and CPER should be compared to industry averages for similar ETFs to assess their cost-effectiveness.
• The net asset value changes and trading gains/losses should be benchmarked against the performance of the underlying commodity indices to evaluate the funds' tracking efficiency.

Stakeholder Impact

• Shareholders of USCI experienced a decrease in net asset value per share.
• Shareholders of CPER experienced an increase in net asset value per share.
• The report provides transparency to investors regarding the funds' performance.

Key Dates

Keywords

Commodity Index Fund, Copper Index Fund, Monthly Account Statement, Net Asset Value, Commodity Futures, Financial Report, USCI, CPER