8-K: United States Commodity Index Funds Trust Releases Monthly Account Statements for December 2023

United States Commodity Index Funds Trust has released its monthly account statements for December 2023, detailing the financial performance of its commodity and copper index funds.

Summary

• The United States Commodity Index Funds Trust has released its monthly account statements for December 2023.
• The statements include the performance of the United States Commodity Index Fund (USCI) and the United States Copper Index Fund (CPER).
• USCI experienced a net loss of $6,393,517 for the month, with a net asset value per share of $56.34.
• CPER reported a net income of $1,730,820 for the month, with a net asset value per share of $24.10.
• The total net asset value for the combined funds decreased from $313,038,921 to $300,379,910 during the month.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to the significant loss in the USCI fund, which outweighs the positive performance of the CPER fund. The overall decrease in net asset value also contributes to the negative sentiment.

Positives

• The United States Copper Index Fund (CPER) generated a net income of $1,730,820 for the month.
• CPER experienced an increase in net asset value due to share additions and positive net income.

Negatives

• The United States Commodity Index Fund (USCI) incurred a net loss of $6,393,517 for the month.
• USCI experienced a decrease in net asset value due to share withdrawals and net losses.
• The combined net asset value of the funds decreased by approximately $12.6 million during the month.

Risks

• The commodity futures market can be volatile, leading to significant gains or losses.
• Fluctuations in market value can impact the net asset value of the funds.
• Withdrawals of shares can negatively impact the net asset value of the funds.

Management Comments

• Stuart P. Crumbaugh, Chief Financial Officer, stated that the information in the account statements is accurate and complete to the best of his knowledge and belief.

Industry Context

This report provides insight into the performance of commodity and copper index funds, which are often used by investors seeking exposure to these markets. The results reflect the volatility and market conditions during December 2023.

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).
• USCI's loss may be compared to the performance of broad commodity indices, while CPER's gain can be benchmarked against copper prices and related mining companies.
• The management fees and other expenses can be compared to similar ETFs to assess cost-effectiveness.

Stakeholder Impact

• Shareholders of USCI experienced a decrease in the value of their holdings due to the net loss.
• Shareholders of CPER saw an increase in the value of their holdings due to the net income.
• The overall decrease in net asset value may concern investors in the funds.

Key Dates

Keywords

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