USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund
Key Statistics
Historical Performance
Total return including reinvested distributions, from adjusted closing prices.
Price History
Price history is being compiled for this fund.
Top Holdings
Top 25 holdings as of Mar 31, 2026 · source: SEC N-PORT. Full holdings & prospectus →
About SDCI
The Fund seeksto provide investment results that closely correspond, before fees and expenses, to the performance of the SDCITR. The SDCITR is a totalreturn commodity sector index designed to broadly represent major commodities. The SDCITR reflects the performance of a fully marginedand collateralized portfolio of commodities futures contracts.·A commodities futures contract is a financial instrument in which a party agrees to pay a fixed price for a fixed quantity of a commodity at a specified future date. The total cost of the commodities underlying a futures contract at their current price (or spot price) is often referred to as “notional amount.” Futures contracts are traded at market prices on exchanges pursuant to terms common to all market participants.·A futures contract is fully margined when a fund has deposited the amount required to enter into and maintain the contract, as determined by a commodity futures exchange, including the New York Mercantile Exchange, ICE Futures, Chicago Board of Trade, Chicago Mercantile Exchange, London Metal Exchange, and Commodity Exchange, Inc. (collectively, the “Futures Exchanges”), which is typically 5% to 10% of the contract amount.·A futures contract is fully collateralized when a fund holds cash or cash equivalents, government securities, or other liquid investments at least equal in value to the notional amount of the contract.At any time,the SDCITR is comprised of 14 futures contracts (the “Component Futures Contracts”), weighted equally by notional amount.The SDCITR is reconstituted and rebalanced on a monthly basis. See “Additional Information about the SDCITR” below for moreinformation about how the SDCITR is composed.In seeking totrack the SDCITR, the Fund invests in a fully margined and collateralized portfolio of commodities futures contracts that will generallyconsist of the Component Futures Contracts, weighted equally by notional amount. Under normal market conditions, the Fund will investat least 80% of its assets in Commodity-Linked Investments (as defined below). In determining the value of the Fund’s assetsfor this purpose, the Fund will value each derivative instrument using the instrument’s notional amount. The Fund’s portfolioof futures contracts is reconstituted and rebalanced on a monthly basis to reflect the changing composition of the SDCITR.Although theFund will seek to replicate the SDCITR’s positions in the Component Futures Contracts, the Fund may also invest in futures contractsthat the portfolio managers believe are economically identical or substantially similar to the Component Futures Contracts. Also, toobtain the desired economic exposure, the Fund may invest in commodity-related derivative instruments such as cash-settled options, forwardcontracts, options on futures contracts, and other options. The futures contracts (including Component Futures Contracts) and other commodity-relatedderivative instruments in which the Fund may invest are collectively referred to herein as “Commodity-Linked Investments.”The Fund mayinvest in Commodity-Linked Investments directly but it will primarily do so through the investments of its wholly-owned subsidiary incorporatedin the Cayman Islands, USCF Cayman Commodity 2 (the “Subsidiary”). The Subsidiary, which has the same investment objectiveas the Fund, is advised by the Adviser and sub-advised by SummerHaven Investment Management, LLC (“SummerHaven” or the “Sub-Adviser”).The SDCITR is owned and maintained by SummerHaven Index Management, LLC (“SHIM”), an affiliate of SummerHaven, and is calculatedand published by Bloomberg, L.P. Neither the Fund nor the Subsidiary invests directly in commodities.In additionto the market price movements of the Fund’s Commodity-Linked Investments, which are primarily futures contracts, the Fund’stotal return includes the return on any assets used to collateralize the Fund’s portfolio. In managing the collateral portion ofthe Fund’s investment strategy, the Adviser will seek to match the hypothetical return of the collateral portion of the SDCITR.The SDCITR’s Component Futures Contracts are hypothetically collateralized with U.S. Treasury bills (“Treasuries”)with three-month maturities, the value of which are calculated using the weekly auction rate for 3-Month U.S. Treasury Bills publishedby the U.S. Department of the Treasury. To collateralize its portfolio, the Fund will hold significant amounts of short-term U.S. governmentsecurities (e.g., Treasuries) and shares of money market mutualfunds.The Subsidiary’sinvestments are considered to be part of the Fund’s portfolio. By investing in the Subsidiary, the Fund expects to be ableto obtain greater exposure to the commodities markets while maintaining compliance with U.S. federal income taxation requirements applicableto investment companies. The Subsidiary may also hold investments used to collateralize the Fund’s portfolio.The Fund willnot invest more than 25% of its total assets in the Subsidiary, as determined at the end of each fiscal quarter. The amount of the Fund’stotal assets that is not invested in the Subsidiary at any given time will be invested directly by the Fund. The Subsidiary is subjectto the same investment restrictions and limitations, and follows the same compliance policies and procedures, as the Fund, except thatthe Subsidiary may invest without limitation in Commodity-Linked Investments.The Fund is“non-diversified,” as that term is defined in the Investment Company Act of 1940, as amended (the “1940Act”).AdditionalInformation about the SDCITR:At any time,the SDCITR is comprised of 14 Component Futures Contracts, weighted equally by notional amount, selected each month from a universe of27 eligible commodities and futures contracts for those commodities. The eligible futures contracts are physical non-financial commodityfutures contracts traded on the Futures Exchanges in major industrialized countries, and typically have active and liquid markets. Theeligible futures contracts are denominated in U.S. dollars. The universe of eligible commodities, categorized into five commodity sectors,is made up of:·petroleum (crude oil (Brent), crude oil (WTI), gas oil, heating oil, and unleaded gasoline)·precious metals (gold, silver, and platinum)·industrial metals (zinc, nickel, aluminum, copper, lead, and tin)·grains (soybean oil, wheat, corn, soybeans, and soybean meal)·non-primary sector (sugar, cotton, coffee, cocoa, natural gas, live cattle, lean hogs, feeder cattle)The SDCITR isbased on the notion that commodities with low inventories tend to outperform commodities with high inventories, as commodity prices tendto increase when supply is low and conversely tend to decrease when supply is high. To help assess the current state of commodity inventories,the SDCITR analyzes price-based signals (i.e., backwardation,contango, and momentum) within the universe of eligible commodity futures contracts, as discussed further below.The SDCITR isrules-based and reconstituted and rebalanced monthly using quantitative formulas, subject to the constraint that each of the four primarycommodity sectors above (Petroleum, Grains, Industrial Metals, and Precious Metals) must be represented by at least one Component FuturesContract. There is no requirement that the non-primary sector be so represented. Monthly commodity selection is a two-step process thatoccurs on the fifth business day prior to the end of the calendar month (the “Selection Date”) based upon the following:1)The annualized percentage price difference between the closest-to-expiration Component Futures Contract and the next closest to expiration Component Futures Contract is calculated for each of the 27 eligible Component Futures Contracts on the Selection Date. The 14 commodities with the greatest backwardation (or least contango) are selected where backwardation is measured based on the highest percentage price difference. When evaluating the data from the first step, all four primary commodity sectors must be represented (Petroleum, Grains, Industrial Metals, and Precious Metals).2)If the selection of the 14 commodities with the greatest backwardation fails to meet the overall diversification requirement that all four primary commodity sectors be represented in the SDCITR, the commodity with the greatest backwardation among the commodities of the omitted primary sector(s) would be substituted for the commodity with the least backwardation among the fourteen commodities.The 14 commoditiesselected are included in the SDCITR for the next month on an equally-weighted basis by notional amount. Due to the dynamic monthly commodityselection, the primary sector weights will vary from approximately 7% to 43% over time, depending on the price observations each month.Following theSelection Date, the SDCITR is reconstituted and rebalanced accordingly during the last four business days of the month.SHIM determinesthe composition of the SDCITR and relative components of the securities of the SDCITR. Bloomberg, L.P. is not affiliated with the USCFETF Trust (the “Trust”), the Fund, the Adviser or the Distributor (as defined below) or with any affiliate of these companies.
SDCI News
- (SDCI) as a Liquidity Pulse for Institutional Tactics
- (SDCI) Risk Channels and Responsive Allocation
- (SDCI) Movement as an Input in Quant Signal Sets
- (SDCI) Movement as an Input in Quant Signal Sets
- Liquidity Mapping Around (SDCI) Price Events
- USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (NYSEARCA:SDCI) Sees Large Decline in Short Interest
- Why (SDCI) Price Action Is Critical for Tactical Trading
- Short Interest in USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (NYSEARCA:SDCI) Rises By 60.0%
- USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (NYSEARCA:SDCI) Short Interest Update
Data for SDCI is aggregated from third-party providers (Tiingo, Nasdaq, Finnhub) and SEC filings, may be delayed at least 20 minutes, and may be incomplete or contain errors. Nothing here is investment advice. Verify with the official prospectus before investing.