8-K: United States Commodity Index Funds Trust Reports July 2024 Monthly Account Statements

United States Commodity Index Funds Trust released its monthly account statements for July 2024, showing net losses across its commodity and copper index funds.

Summary

• United States Commodity Index Funds Trust has released its monthly account statements for July 31, 2024.
• The United States Commodity Index Fund (USCI) reported a net loss of $3,389,905 for the month.
• The United States Copper Index Fund (CPER) experienced a net loss of $8,503,219.
• The combined net loss for the trust across all series was $11,893,124.
• USCI's net asset value decreased from $183,890,139 to $177,379,855 during the month.
• CPER's net asset value declined from $216,988,161 to $175,308,186.
• The total net asset value for the trust decreased from $400,878,300 to $352,688,041.
• These losses were primarily driven by realized and unrealized losses on commodity futures trading.

Sentiment

Score: 3

Explanation: The document reports significant losses and a decrease in net asset value, indicating a negative sentiment from an investment perspective.

Positives

• Both funds generated income from dividends and interest.
• The monthly account statements were certified as accurate and complete by the Chief Financial Officer.

Negatives

• Both the USCI and CPER funds experienced significant net losses for the month of July 2024.
• The losses were primarily driven by realized and unrealized losses on commodity futures trading.
• Both funds experienced a decrease in net asset value.

Risks

• The funds are exposed to the volatility of commodity futures markets.
• Unrealized losses on commodity futures can significantly impact the funds' performance.
• Withdrawals from the funds can further reduce net asset value.

Management Comments

• The Chief Financial Officer certified that the information in the account statements is accurate and complete.

Industry Context

The report reflects the inherent volatility and risk associated with commodity-based investment funds, which are subject to market fluctuations and trading performance.

Comparison to Industry Standards

• It is difficult to make a direct comparison without knowing the specific commodity futures held by the funds and the performance of similar funds during the same period.
• However, the losses highlight the challenges of managing commodity-based investments during periods of market volatility.
• Other commodity index funds may have experienced similar challenges during this period, depending on their specific holdings and strategies.

Stakeholder Impact

• Shareholders of the funds will experience a decrease in the value of their investments.
• The losses may impact investor confidence in the funds.

Key Dates

Keywords

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