Overview
| Ticker | |
|---|---|
| CUSIP | |
| ISIN | US90290T8586 |
| Total Annual Fund Expenses | |
| Trading Increment | $0.01 |
| Administrator | The Bank of New York Mellon |
|---|---|
| Distributor | ALPS Distributors, Inc. |
| Investment Adviser | USCF Advisers, LLC |
| Portfolio Managers |
John E. Leslie III CFA Adam Fackler, CFA Michael Roomberg, CFA |
| Sub-Adviser | Miller/Howard Investments, Inc. |
Fund Summary
The primary investment objective of the USCF Dividend Income Fund (UDI) is to seek a high level of current income and, as a secondary objective, growth of income.
The Fund is an actively managed ETF. The Fund seeks to achieve its investment objective by investing in U.S. exchange-traded dividend-paying and dividend-growth companies that meet the Fund’s environmental, social and governance (ESG) criteria. The Fund may also invest in U.S. exchange-traded equity securities of issuers domiciled outside the U.S., including American Depositary Receipts (ADRs). The Fund may also invest in real estate investment trusts (REITs), with a typical sector limit of 25% or two times the weight in the Russell 1000 Value Index, whichever is greater. The Fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in dividend-paying equity securities and in other instruments that have economic characteristics similar to such securities.
The Fund’s sub-adviser, Miller/Howard Investments, Inc., primarily utilizes a bottom-up fundamental research process to evaluate companies and uses quantitative research to identify and compare potential candidates for further review. Companies are assessed on several key metrics, including dividend yield, prospects for dividend growth, balance sheet strength, dividend coverage, and low valuations. Additionally, each company is assessed against ESG criteria, which includes screening to eliminate companies that engage certain types of businesses (e.g., coal extraction, and production of alcohol, tobacco or firearms) and assessment of each company’s governance and ethics practices, environmental and human rights records, and diversity.
The Fund will typically invest in approximately thirty to forty-five companies that meet the Sub-Adviser’s financial and ESG criteria.
The Fund intends to pay out dividends on a monthly basis. Nonetheless, the Fund may not make a dividend payment every month. The Fund intends to distribute its net realized capital gains, if any, to investors annually. The Fund may occasionally be required to make supplemental distributions at some other time during the year. Distributions in cash may be reinvested automatically in additional whole shares only if the broker through whom you purchased shares makes such option available. Your broker is responsible for distributing the income and capital gain distributions to you. Dividend yield is one component of performance and should not be the only consideration for investment.
The portfolio consists of listed futures contracts and other commodity-related investments and may consist of forwards. These investments will be collateralized by cash, cash equivalents and US government obligations with remaining maturities of two years or less.
Below are the eligible commodities that may comprise the Index on a monthly basis:
Crude Oil (Brent)
Heating Oil
Feeder Cattle
Bean Oil
Soybean Meal
Copper
Tin
Platinum
Coffee
Crude Oil (WTI)
Natural Gas
Lean Hogs
Corn
Wheat
Lead
Zinc
Silver
Cotton
Gasoil
Unleaded Gasoline
Live Cattle
Soybeans
Aluminum
Nickel
Gold
Cocoa
Sugar
For the month of August, the Benchmark Component Futures Contracts are:
SOYBEAN OIL FUTR Oct25
COCOA FUTURE Dec25
WTI CRUDE FUTURE Nov25
BRENT CRUDE FUTR Nov25
COPPER FUTURE Dec25
NY Harb ULSD Fut Dec25
COFFEE 'C' FUTURE Dec25
LME PRI ALUM FUTR Oct25
LIVE CATTLE FUTR Oct25
LEAN HOGS FUTURE Oct25
LME ZINC FUTURE Oct25
Low Su Gasoil G Sep25
SILVER FUTURE Dec25
GASOLINE RBOB FUT Oct25
Key Facts
| NAV | |
|---|---|
| NAV Change | |
| Last Trade Price | |
| Premium Discount (%) | |
| Shares Outstanding | |
| Total Net Assets | |
| Median 30 Day Bid Ask Spread as of |
| 30-Day SEC Yield as of | |
|---|---|
| 30-Day SEC Yield (Unsubsidized) as of | |
| Trailing 12-Month Yield as of |
Performance
Historical NAV Performance download is not available at this time.
The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT 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.
The Fund's NAV is calculated by dividing the value of the Fund's total assets less total liabilities by the number of shares outstanding. Share price returns are based on closing prices for the Fund and do not represent the returns an investor would receive if shares were traded at other times.
Shares of the fund are bought and sold by individual investors at market price (not NAV) and are not individually redeemed by the Fund. Brokerage commissions apply and will reduce returns. Market returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. Eastern time (when NAV is normally determined for most ETFs), and do not represent the returns you would receive if you traded shares at other times.
S&P 500 Value Total Return Index (SPTRSVX): S&P 500 Value Total Return IndexSM (“SPTRSVX”) measures value stocks using three factors: the ratios of book value, earnings, and sales to price. S&P Style Indices divide the complete market capitalization of each parent index into growth and value segments. Constituents are drawn from the S&P 500. One cannot invest directly in an index.
† UDI commenced operations on 06/08/2022.
Growth of $10,000 Investment
This chart shows how a hypothetical investment of $10,000 in the Fund at its inception would have performed versus the performance of the Fund’s benchmark. The values indicate what $10,000 would have grown to over the time period indicated. The hypothetical example does not represent the returns of any particular investment. You cannot invest directly in an index.
This chart shows how a hypothetical investment of $10,000 in the Fund at its inception would have performed versus an investment in the Fund’s benchmark futures contract(s). The values indicate what $10,000 would have grown to over the time period indicated. The hypothetical example does not represent the returns of any particular investment.
The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT 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.
Distributions
| Ex-Date | Record Date | Pay Date | Ordinary Income | Short Term Gains | Long Term Gains | Return of Capital | Total | 19A-1 Notice | Form 8937 |
|---|---|---|---|---|---|---|---|---|---|
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Creation & Redemption
- Creation/Redemption Basket Size 10,000 Shares
- Authorized Participants pay a transaction fee of $100 for Creates/Redeems (per order, not per basket)
- Order cut-off for Cash Creates/Redeems is 3:00 p.m. ET
- UDI's NAV is calculated generally as of 4:00 p.m. ET
- Settlement is T+1
- Custodian is The Bank of New York Mellon
We advise you to consider a Fund's objectives, risks, charges and expenses carefully before investing. Download a copy of a Fund's Prospectus by clicking here: USCF Dividend Income Fund. Please read the Prospectus carefully before investing.
UDI and its design mark are service marks of USCF Advisers, LLC. USCF Advisers, LLC is not affiliated with Miller/Howard Investments.
Risks:
The Fund is not suitable for all investors. There are risks involved with investing in ETFs including the loss of money.
Investing in the Fund involves market risk. The trading prices of financial instruments fluctuate, sometimes rapidly and unpredictably, in response to a variety of factors. These factors include events impacting a specific market segment or the entire market, including global pandemics, such as the recent outbreak of COVID-19. The Fund’s NAV and market price may fluctuate significantly due to market risk. As a result, an investor could lose money over short periods due to short term market movements or over longer periods during prolonged market downturns. The loss of the entire principal amount of an investment is possible.
The Fund will primarily invest in equity securities of U.S. exchange-traded dividend-paying and dividend-growth companies. Unlike fixed income securities, dividend payments generally are not guaranteed and so may be discontinued by the issuer at its discretion or because of the issuer’s inability to satisfy its liabilities. Further, an issuer’s history of paying dividends does not guarantee that it will continue to pay dividends in the future. In general, prices of equity securities are sensitive to general movements in the stock market, and may fluctuate for several reasons, including changes in investors’ perceptions or the occurrence of certain political or economic events.
The Fund’s consideration of ESG factors in selecting investments may limit the investment opportunities available to the Fund or exclude the securities of certain issuers for non-financial reasons. As such, the Fund may invest in companies or industries that are out of favor in the market or underperforming the market. Companies that meet the Fund’s ESG criteria may be more focused on long-term rather than short-term returns. In evaluating a company based on ESG criteria, the Fund may use information and data from third-party providers of ESG research, which may be incomplete, inaccurate inconsistent or unavailable.
The Fund may invest in ADRs linked to companies located in foreign markets, including emerging markets. Investing in foreign companies involves certain considerations and risks not ordinarily associated with investments in securities of U.S. issuers. Foreign companies are not generally subject to the same accounting, auditing and financial standards and requirements as those applicable to U.S. companies. Investing in emerging markets may pose greater risks than investing in foreign developed countries, including smaller market capitalization of securities markets; significant price volatility; restrictions on foreign investment and the risk of nationalization of businesses, expropriation, and confiscatory taxation.
Since the Fund is new, there can be no assurance that the Fund will grow to or maintain an economically viable size.
