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

United States Commodity Index Funds Trust has released its monthly account statements for May 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 May 2024.
• The United States Commodity Index Fund (USCI) reported a net income of $737,137 for the month.
• USCI's net asset value increased from $179,400,729 to $183,202,257, with a net asset value per share of $62.10.
• The United States Copper Index Fund (CPER) experienced a net loss of $3,050,442 for the month.
• CPER's net asset value increased from $197,504,039 to $229,188,290, with a net asset value per share of $28.29.
• The combined series of the United States Commodity Index Funds Trust reported a net loss of $2,313,305 for the month.
• The combined net asset value increased from $376,904,768 to $412,390,547.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the report contains both positive and negative results. While USCI showed a profit, CPER and the combined series experienced losses. The overall performance is mixed.

Positives

• The United States Commodity Index Fund (USCI) generated a net income of $737,137 for the month.
• USCI's net asset value increased by approximately $3.8 million during the month.
• Both USCI and CPER saw increases in their net asset values.

Negatives

• The United States Copper Index Fund (CPER) incurred a net loss of $3,050,442 for the month.
• The combined series of the United States Commodity Index Funds Trust experienced a net loss of $2,313,305 for the month.

Risks

• The funds are subject to market fluctuations in commodity futures, which can lead to both gains and losses.
• Unrealized losses on commodity futures significantly impacted the overall performance of both funds in May.

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 transparency into the monthly performance of commodity and copper index funds, which are popular investment vehicles for those seeking exposure to these markets. The results reflect the volatility inherent in commodity trading.

Comparison to Industry Standards

• The performance of USCI and CPER can be compared to other commodity and copper ETFs such as Invesco DB Commodity Index Tracking Fund (DBC) and iShares Copper Trust (IAU).
• The monthly reporting is standard practice for commodity funds and provides investors with regular updates on fund performance.
• The reported gains and losses are typical for funds exposed to the volatility of commodity futures markets.

Stakeholder Impact

• Shareholders of USCI experienced a positive return for the month.
• Shareholders of CPER experienced a negative return for the month.
• The monthly statements provide transparency to all stakeholders regarding the funds' performance.

Key Dates

Keywords

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