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

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

Summary

• United States Commodity Index Funds Trust released its monthly account statements for June 2024.
• The statements include the performance of the United States Commodity Index Fund (USCI) and the United States Copper Index Fund (CPER).
• USCI reported a net income of $687,882 for the month, with a net asset value of $183,890,139 at the end of June.
• CPER experienced a net loss of $8,139,543, with a net asset value of $216,988,161 at the end of June.
• The combined net loss for the trust was $7,451,661, with a total net asset value of $400,878,300 at the end of June.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to the overall net loss for the trust, although one fund did perform positively. The mixed results and the net loss for the trust temper any positive sentiment.

Positives

• USCI generated a net income of $687,882 for the month of June.
• USCI's net asset value increased from $183,202,257 to $183,890,139 during the month.

Negatives

• CPER experienced a net loss of $8,139,543 for the month of June.
• The combined net loss for the trust was $7,451,661 for the month of June.
• CPER's net asset value decreased from $229,188,290 to $216,988,161 during the month.

Risks

• The commodity futures market can be volatile, leading to significant gains or losses.
• Fluctuations in commodity prices can impact the net asset value of the funds.
• The funds are subject to market risks and may not achieve their investment objectives.

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-based exchange-traded funds (ETFs), which are often used by investors to gain exposure to commodity markets. The results reflect the volatility and risks associated with these markets.

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 positive net income contrasts with CPER's loss, highlighting the different market dynamics affecting various commodities.
• The net asset value changes can be compared to the performance of the underlying commodity indices to assess the tracking efficiency of the funds.

Stakeholder Impact

• Shareholders of USCI experienced a positive return on their investment for the month.
• Shareholders of CPER experienced a negative return on their investment for the month.
• The overall performance of the trust impacts the value of the shares held by investors.

Key Dates

Keywords

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