Texas Light Sweet Crude Oil ETFs

Texas Light Sweet Crude Oil ETFs allow traders to buy and sell units  in one of the world's most actively traded commodities on US stock exchanges.  Texas Light Sweet Crude is used as an international pricing benchmark.

Texas Light Sweet Crude Oil ETFs

Texas Light Sweet Crude Oil ETFs allow traders to buy and sell units (similar to shares)  in one of the world's most actively traded commodities on US stock exchanges.

Texas Light Sweet Crude, also referred to as West Texas Intermediate (WTI), is used as an international pricing benchmark. There are several variations of domestically traded Texas Light Sweet crude oil Exchange Traded Funds including long, short and leveraged long/short funds.

 

Long Texas Light Sweet Crude Oil ETFs

United States Oil Fund (Symbol: USO)  The United States Oil Fund reflects the percentage change of the spot price of Texas light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the changes in the price of the futures contract for Texas Light Sweet Crude oil traded on the New York Mercantile Exchange (the "NYMEX"), less USO's expenses. . USO issues units that may be purchased and sold on the NYSE Arca.  Prospectus

PowerShares DB Oil Fund (Symbol: DBO)  The PowerShares DB Oil Fund is based on the DBIQ Optimum Yield Crude Oil Index Excess Return™.  The Index is a rules-based index composed of futures contracts on Texas Light Sweet Crude Oil and is intended to reflect the performance of crude oil.  Investors can buy and sell shares in the fund at market price on the NYSE Arca. Ordinary brokerage commissions apply.  Prospectus

United States 12 Month Oil Fund (Symbol: USL)  The United States 12 Month Oil Fund reflects the percentage changes of the price of Texas Light Sweet Crude oil, as measured by the changes in the average of the prices of 12 Futures Contracts on crude oil traded on the New York Mercantile Exchange.   The average consists of the near month contract plus the contracts for the next consecutive eleven months, for a total of 12 months' contracts, less USL's expenses.  When the near month contract is close to expiration (i.e. within two weeks), the average consists of the month following and subsequent 11 months futures contracts.  The average is calculated with each contract month equally weighted. USL issues units that may be purchased and sold on the NYSE Arca.  Prospectus

Short and Leveraged Texas Light Sweet Crude Oil ETFs

United States Short Oil Fund (Symbol: DNO)  The United States Short Oil Fund provides stock traders with a new way to manage their exposure to the energy sector.  DNO inversely reflects the changes, in percentage terms, of the spot price of Light Sweet Crude oil, as measured by the changes in the price of the near futures contract on Texas light, sweet crude oil as traded on the New York Mercantile Exchange escept when the near contract is close to expiration whereupon the subsequent month contract is used.  DNO issues units that may be purchased and sold on the NYSE Arca. Prospectus

ProShares UltraShort DJ-AIG Crude Oil ETF (Symbol: SCO)  The ProShares UltraShort DJ-AIG Crude Oil ETF seeks a return that is -2x the return of the Net Asset Value (NAV) of Texas light sweet crude oil for a single day.  Due to the compounding of daily returns, the UltraShort ETF returns over periods other than one day will differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced with increased volatility.  Prospectus.

ProShares Ultra DJ-AIG Crude Oil ETF (Symbol: UCO)  The ProShares Ultra DJ-AIG Crude Oil ETF seeks a return that is 2x the return of the Net Asset Value (NAV) of Texas Light Sweet Crude oil for a single day.  Due to the compounding of daily returns, the Ultra ETF returns over periods other than one day will differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced with increased volatility.  Prospectus.

Texas Light Sweet Crude Oil Commodity Pools

Teucrium WTI Crude Oil Fund (Symbol: CRUD) The Teucrium WTI Crude Oil Fund is a commodity pool that issues shares that may be purchased and sold on the NYSE Arca. The fund provides investors unleveraged exposure to Texas Light Sweet Crude oil without the need for a futures account and reduced effects of contango and backwardation as a result of the diversified futures structure.  CRUD was specifically designed to reduce the cost of rolling the investment when compared to funds that hold only a single month.  The commodity pool reflects the daily changes in percentage terms of a weighted average of the closing settlement prices for futures contracts for WTI crude oil traded on the NYMEX.  Specifically:

  1. the nearest to spot June or December Oil Futures Contract, weighted 35%;
  2. the June or December WTI Oil Futures Contract following the aforementioned (1), weighted 30%; and
  3. the December WTI Oil Futures Contract that immediately follows the aforementioned (2), weighted 35%; less the Fund’s expenses.

This weighted average of the three West Texas Intermediate Crude Oil Futures Contracts is referred to as the “Benchmark,” and the three WTI Crude Oil Futures Contracts that at any given time make up the Benchmark are referred to as the “Benchmark Component Futures Contracts."  Prospectus

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