USCF Energy Commodity Strategy Absolute Return Fund
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- USCF Energy Commodity Strategy Absolute Return Fund (NYSE Arca: USE) is an actively managed exchange-traded fund that seeks long-term total return by investing in and allocating among energy-related derivative instruments based on oil, petroleum, and natural gas, as well as other energy-related derivatives; specifically, the Fund invests in futures contracts including, but not limited to, West Texas Intermediate (WTI) crude oil, Henry Hub natural gas, NY Harbor ultra-low sulfur diesel (formerly heating oil), RBOB gasoline, Brent crude oil, and gasoil; the Fund may also invest in futures based on clean energy sources such as wind and solar power. The Fund's proprietary quantitative methodology utilizes technical signals on price and volume, fundamental signals on specific energy commodities, general economic indicators, and portfolio manager discretion to determine the direction of futures contracts and to implement long, short, or spread positions. Although permitted to invest directly, the Fund primarily gains exposure to commodity-linked investments—including exchange-traded futures and options contracts, swap agreements, and structured notes—through its wholly-owned Cayman Islands subsidiary, USCF Cayman Commodity 3, while collateral investments are held in cash, cash equivalents, investment grade fixed-income securities, money market funds, or repurchase agreements. The Fund, part of the USCF ETF Trust, commenced operations on May 4, 2023, and is advised by USCF Advisers LLC, with portfolio management provided by Seth Lancaster, Darius Coby, and Andrew F. Ngim; it lists on NYSE Arca with ALPS Distributors, Inc. as distributor and The Bank of New York Mellon as administrator and custodian. USCF Investments, the parent firm founded in 2005 and headquartered in Walnut Creek, California, pioneered commodity exchange-traded products with the launch of the United States Oil Fund (USO) in 2006 and manages a suite of specialty ETPs and ETFs focused on commodities and alternatives. The Fund targets investors seeking returns uncorrelated with traditional stocks and bonds, benchmarking against the Bloomberg Energy Subindex Total Return, and operates without diversification constraints across U.S.- and non-U.S.-listed instruments denominated in U.S. dollars. No major acquisitions, funding rounds, partnerships, strategic alliances, name changes, or significant operational shifts have been reported for the Fund within the last 1-2 years since its 2023 launch; the Fund has maintained its core strategy amid ongoing SEC and CFTC oversight applicable to commodity ETFs. Recent filings confirm continued reliance on the Cayman subsidiary for tax-efficient commodity exposure qualifying as regulated investment company income, with no new product launches or reorganizations noted as of October 2025.