CONTRACTS AND AGREEMENTS (Tables)

12 Months Ended

Dec. 31, 2019

CONTRACTS AND AGREEMENTS

Schedule of brokerage and futures commission

USCI

	For the Year Ended			For the Year Ended			For the Year Ended
	December 31, 2019			December 31, 2018			December 31, 2017
Total commissions accrued to brokers	$	453,997		$	539,884		$	527,610
Total commissions as annualized percentage of average total net assets		0.13	%		0.09	%		0.10	%
Commissions accrued as a result of rebalancing	$	429,823		$	508,021		$	505,199
Percentage of commissions accrued as a result of rebalancing		94.68	%		94.10	%		95.75	%
Commissions accrued as a result of creation and redemption activity	$	24,174		$	31,863		$	22,411
Percentage of commissions accrued as a result of creation and redemption activity		5.32	%		5.90	%		4.25	%

The decrease in total commissions accrued to brokers for the year ended December 31, 2019, compared to the year ended December 31, 2018, was due primarily to a lower number of contracts held and traded. The increase in total commissions accrued to brokers for the year ended December 31, 2018, compared to the year ended December 31, 2017, was due primarily to higher number of futures contracts being held and traded. However, there can be no assurance that commission costs and portfolio turnover will not cause commission expenses to rise in future quarters.

CPER

	For the Year Ended			For the Year Ended			For the Year Ended
	December 31, 2019			December 31, 2018			December 31, 2017
Total commissions accrued to brokers	$	6,082		$	5,181		$	5,461
Total commissions as annualized percentage of average total net assets		0.06	%		0.04	%		0.05	%
Commissions accrued as a result of rebalancing	$	5,353		$	4,205		$	4,390
Percentage of commissions accrued as a result of rebalancing		88.01	%		81.16	%		80.39	%
Commissions accrued as a result of creation and redemption activity	$	729		$	976		$	1,071
Percentage of commissions accrued as a result of creation and redemption activity		11.99	%		18.84	%		19.61	%

The increase in total commissions accrued to brokers for the year ended December 31, 2019, compared to the year ended December 31, 2018, was due primarily to a higher number of contracts held and traded. The decrease in total commissions accrued to brokers for the year ended December 31, 2018, compared to the year ended December 31, 2017, was due primarily to lower number of futures contracts being held and traded. However, there can be no assurance that commission costs and portfolio turnover will not cause commission expenses to rise in future quarters.