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USE

GradeCNew York Stock Exchange Arca

USCF Energy Commodity Strategy Absolute Return Fund

Commodities · USCF · Inception 2023-05-04

$36.13+0.64 (+1.82%)

As of Sep 23, 2026, 2:19 PM EDT

History starts May 4, 2023.
Intraday session: up, 55 prints from 35.49 to 36.13. Range 35.88 to 36.34. Use the arrow keys to read each point.$36.00$36.20$36.4010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$7M
1Y return
+26.9%
Yield · Last 12 months
1.97%
Holdings
32
Volume · 30D
0M sh
NAV per share
$35.89
52W range
low $21.56high $37.72

The ETF.net USE Grade

C

41/ 100

Rank 10 of 15 in Commodity Futures⁠

Confidence Medium

Six-pillar profile for USE. Scores out of 100: Cost 54, Risk 23, Mission not scored, Tradability 41, Holdings not scored, Durability 31. Strongest: Cost (54). Weakest: Risk (23). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 41 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 54
    Category rank7/15 · top 47%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 23
    Category rank15/15 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 41
    Category rank9/15 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 31
    Category rank14/15 · bottom quartile

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on USE

ETF.net Research

CMost commodity funds hand you the whole grocery basket. USE shops one aisle: oil, petroleum and natural gas, run through derivatives with an absolute-return mandate instead of a buy-and-hold index.

Stated mandate

The report identifies USE as a Commodity Pool Fund whose strategy is implemented primarily through commodity-linked derivatives, with subsidiary exposure used to support RIC tax requirements.

Why people hold it

  1. 01Single-theme by design. The mandate points at oil, petroleum and natural gas, not the metals-grains-energy grab bag inside diversified peers like PDBC or HARD.
  2. 02Costs 0.79% a year, a shade under the typical commodity-futures fund and below index peers such as DBB at 0.81%.
  3. 03Clean plumbing for a futures strategy: a commodity pool built on commodity-linked derivatives, with a subsidiary sleeve used to support RIC tax treatment.

Worth knowing

  1. 01A small fund that trades thinly. That usually shows up as wider spreads and more attention needed on how orders get placed.
  2. 02Energy futures move sharply in both directions, and an absolute-return label does not mute that. It sits in the lower half of its commodity-futures peer group.
  3. 03Launched in 2023, so the operating history is short, and cash goes out at most once or twice a year rather than on a monthly rhythm.

USE Holdings

As of Sep 20, 2026, 6:39 AM
Asset class
Other
Holdings
32
Top-10 weight
100%
Largest holding
WTI CRUDE FUTURE Dec2632.5%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—WTI CRUDE FUTURE Dec2632.49%51$5M4
002—BNY CASH RESERVE21.12%3,050,957$3M13
003—TREASURY BILL 0 11/5/202616.88%2,450,000$2M21
004—NATURAL GAS FUTR Sep2712.81%58$2M2
005—TREASURY BILL 0 9/22/20268.65%1,250,000$1M16
006—GASOLINE RBOB FUT Dec265.24%6$756K1
007—US DOLLARS2.37%342,269$342K67
008—Micro WTI Crude F Dec260.45%7$64K1

Showing 1–8 of 8 holdings

USE Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

USE$12,690
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. USE $12,690. SPY $11,723. Use the arrow keys to read each point.$7,247$10,598$13,949Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for USE. Periods over one year show the average yearly return.
PeriodUSE
Year to date+55.0%
1 month+5.2%
3 months+28.5%
1 year+26.9%
3 years+11.9%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for USE
YearReturn barUSE
2026 YTD+55.0%
2025−15.0%
2024+22.4%
2023+10.0%

Since listing, May 4, 2023

USE in the news

ETF.net Research hasn’t filed on USE yet — coverage lands here as it’s written.

USE Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
1.97%Last 12 months
Payout per share
$0.70Last 12 months
Last payment
$0.70 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 4 payments from 2023 to 2026 YTD. Aug 28, 2023 $0.46; Dec 27, 2023 $1.06; Dec 27, 2024 $10.72; Dec 22, 2025 $0.70. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 23, 2025$0.70
Dec 27, 2024Dec 31, 2024$10.72
Dec 27, 2023Dec 29, 2023$1.06
Aug 28, 2023Aug 31, 2023$0.46

USE Risk

How much the fund’s monthly returns vary, scaled to a year.
34.1%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.35
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−28.2%
40 months · trough Jul 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.37
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

USE Cost

Expense ratio0.79%
  • The middle half of Commodity Futures funds
  • Median 0.79%

5 of the 13 Commodity Futures funds charge less.

USE costs $79.00 a year on $10,000. The median Commodity Futures fund costs $79.00.