USCF Midstream Energy Income Overview
Investment Objective
The Fund seeks a high level of current income and, as a secondary objective, capital appreciation.
Investment Strategy
The Fund is an actively managed exchange-traded fund. The Fund’s investment sub-adviser, Miller/Howard Investments, Inc., utilizes a bottom-up fundamental research process to evaluate these midstream energy infrastructure companies on a number of key metrics, including income, growth of income, distribution coverage, leverage, direct-commodity price exposure, and contract quality.
The Fund will seek to achieve its investment objectives by investing, under normal market conditions, at least 80% of its net assets in equity securities of U.S. and Canadian companies of any market capitalization deemed by the Sub-Adviser to be engaged in the midstream energy sector.
The midstream energy sector primarily includes publicly-traded master limited partnerships and limited liability companies taxed as partnerships (MLPs), and companies structured or who elect to be taxed as C-corporations that derive the majority of their revenue from operating or providing midstream energy services. The Sub-Adviser considers midstream energy services to be transportation, storage, and gathering & processing infrastructure that primarily collect fees for transporting customers’ oil, natural gas, and other products.
The Fund may directly invest up to 25% of its total assets in equity securities of certain MLPs treated as publicly-traded partnerships. The Fund will invest more than 25% of the value of its total assets in the energy, oil, and gas industries.
Reasons to Consider UMI
- UMI permits exposure to the midstream energy market including master limited partnership, without a K-1.
- UMI is actively managed, integrating forward-looking fundamental and Environmental, Social, and Governance (ESG) research.
- UMI invests in companies whose cash flows are typically supported by long-term contracts and generally have limited direct commodity price exposure.
Ticker | UMI |
CUSIP | 90290T882 |
ISIN | US90290T8826 |
Total Annual Fund Expenses1 | |
Trading Increment | $0.01 |
Administrator | The Bank of New York Mellon |
Distributor | ALPS Distributors, Inc. |
Investment Advisor | USCF Advisers, LLC |
Portfolio Managers | Gregory Powell, PhD John R. Cusick, CFA Adam Fackler, CFA |
Sub-Adviser | Miller/Howard Investments, Inc. |
1 The Fund pays USCF Advisers LLC (the “Adviser”) an annual unitary management fee based upon the Fund’s average daily net assets at the rate set forth above. The Adviser is responsible for all expenses of the Fund except expenses for taxes and governmental fees; brokerage fees; commissions and other transaction expenses; costs of borrowing money, including interest expenses; securities lending expenses; extraordinary expenses (such as litigation and indemnification expenses); and fees and expenses of any independent legal counsel.
Historical NAV
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.
Performance
Cumulative | Average Annual | |||||||
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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.
Alerian Midstream Energy Select Total Return Index (AMEIX): The Alerian Midstream Energy Select Total Return IndexSM (“AMEIX”) is a composite of North American energy infrastructure companies. The capped, float-adjusted, capitalization-weighted index, whose constituents are engaged in midstream activities involving energy commodities, is disseminated real-time on a total-return basis. One cannot invest directly in an index.
† UMI commenced operations on 3/24/2021
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.
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.
Premium / Discount
Days Traded at Premium | Days Traded at Discount | |
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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.
The above frequency distribution chart presents information about the difference between the daily market price for shares of the Fund and the Fund's reported NAV. The amount that the Fund's market price is above the reported NAV is called the premium. The amount that the Fund's market price is below the reported NAV is called the discount. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 pm Eastern time). The vertical axis of the chart shows the premium or discount expressed in basis points. The horizontal axis indicates the number of trading days in the period covered by the chart. Each bar in the chart shows the number of trading days in which the Fund traded within the premium/discount range indicated.
* A basis point is equal to 1/100th of 1%.
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 Process
- 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
- UMI's NAV is calculated generally as of 4:00 p.m. ET
- Settlement is T+1
- Custodian is The Bank of New York Mellon
- Fund Details
- Performance
- Growth of $10k
- Average Daily Returns
- Premium Discounts
- Distributions
- Creation Redemption
- Holdings
- Roll/Rebalance Dates
- Documents
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NAV Change | |
4PM Bid/Ask Midpoint | |
Last Trade Price | |
Premium Discount (%) | |
30-Day SEC Yield as of | |
30-Day SEC Yield (Unsubsidized) as of | |
Trailing 12-Month Yield as of | |
Shares Outstanding | |
Total Net Assets | |
Median 30 Day Bid Ask Spread as of |