Fund Details

The United States 3x Short Oil Fund^SM (USOD) is an exchange-traded product designed to inversely reflect three times (-3x) the movements of West Texas Intermediate (WTI) light, sweet crude oil. USOD issues shares that may be purchased and sold on the NYSE Arca.

The investment objective of USOD is for the daily changes in percentage terms of its shares' NAV to reflect three times the inverse (-3x) of the daily changes in percentage terms of a specified short-term futures contract on light, sweet crude oil called the “Benchmark Oil Futures Contract”, less USOD's expenses.

To achieve this objective, USCF will endeavor to have the notional value of the Fund’s aggregate short exposure to the Benchmark Oil Futures Contract at the close of each trading day approximately equal to 300% of the Fund’s NAV. The Fund will seek a return that is -300% of the return of the Benchmark Oil Futures Contract for a single day and does not seek to achieve its stated investment objective over a period of time greater than one day. The pursuit of daily inverse leveraged investment goals means that the return of the Fund for a period longer than a full trading day may have no resemblance to -300% of the return of the Benchmark Oil Futures Contract for a period of longer than a full trading day because the aggregate return of the Fund is the product of the series of each trading day’s daily returns. For the Fund to maintain a consistent -300% return versus short positions in the Benchmark Oil Futures Contract, the fund’s holdings must be rebalanced on a daily basis by selling additional Oil Interests or buying Oil Interests for which it holds short positions. Rebalancing will occur generally before or at the close of trading of the shares on NYSE Arca, at or as near as possible to that day’s settlement price.

USOD's benchmark is the near month light, sweet crude oil futures contract traded on the NYMEX, traded under the trading symbol “CL”. If the near month futures contract is within two weeks of expiration, the benchmark will be the next month futures contract to expire. The crude oil contract is WTI light, sweet crude oil delivered to Cushing, Oklahoma.

USOD invests primarily in listed crude oil futures contracts and may invest in forwards, swap contracts, other oil-related futures contracts, and certain options on oil futures contracts. USOD invests in these oil interests to the fullest extent possible without being leveraged or unable to satisfy its current or potential margin or collateral obligations. These investments will be collateralized by cash, cash equivalents, and US government obligations with remaining maturities of two years or less.

Additionally, investors should be aware that the Fund’s investment objective is not for its NAV or market price of shares to equal, in dollar terms, the spot price of light, sweet crude oil or to track the inverse performance thereof.

The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted.

Performance

The United States 3x Short Oil Fund^SM (USOD) launched on , therefore, Performance information is not available at this time.

Growth of $10,000 Investment

The United States 3x Short Oil Fund^SM (USOD) launched on , therefore, Growth of $10,000 Investment information is not available at this time.

Average Daily Returns

The United States 3x Short Oil Fund^SM (USOD) launched on , therefore, Average Daily Return information is not available at this time.

Premium / Discount