FINANCIAL HIGHLIGHTS (Tables)

9 Months Ended

Sep. 30, 2020

FINANCIAL HIGHLIGHTS

Schedule of per share performance data and other supplemental financial data for each Trust Series

The following table presents per share performance data and other supplemental financial data for the three and nine months ended September 30, 2020 and 2019 for the shareholders. This information has been derived from information presented in the condensed financial statements.

USCI

	Three months ended			Three months ended			Nine months ended			Nine months ended
	September 30, 2020			September 30, 2019			September 30, 2020			September 30, 2019
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
Per Share Operating Performance:
Net asset value, beginning of period	$	26.64		$	36.98		$	36.87		$	37.49
Total income (loss)		3.17			(1.04)			(6.90)			(1.34)
Total expenses		(0.08)			(0.10)			(0.24)			(0.31)
Net increase (decrease) in net asset value		3.09			(1.14)			(7.14)			(1.65)
Net asset value, end of period	$	29.73		$	35.84		$	29.73		$	35.84
Total Return		11.60	%		(3.08)	%		(19.37)	%		(4.40)	%
Ratios to Average Net Assets
Total income (loss)		12.54	%		(3.42)	%		(25.06)	%		(2.87)	%
Management fees*		0.80	%		0.80	%		0.80	%		0.80	%
Expenses excluding management fees*		0.30	%		0.27	%		0.31	%		0.31	%
Net income (loss)		12.26	%		(3.69)	%		(25.89)	%		(3.70)	%

*      Annualized.

CPER

	Three months ended			Three months ended			Nine months ended			Nine months ended
	September 30, 2020			September 30, 2019			September 30, 2020			September 30, 2019
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
Per Share Operating Performance:
Net asset value, beginning of period	$	16.99		$	16.99		$	17.54		$	16.44
Total income (loss)		1.82			(0.80)			1.33			(0.18)
Total expenses		(0.04)			(0.03)			(0.10)			(0.10)
Net increase (decrease) in net asset value		1.78			(0.83)			1.23			(0.28)
Net asset value, end of period	$	18.77		$	16.16		$	18.77		$	16.16
Total Return		10.48	%		(4.89)	%		7.01	%		(1.70)	%
Ratios to Average Net Assets
Total income (loss)		9.26	%		(5.09)	%		18.61	%		(3.00)	%
Management fees*		0.65	%†		0.65	%†		0.65	%†		0.65	%†
Total expenses excluding management fees*		0.40	%		0.67	%		0.51	%		0.81	%
Expense waived*		(0.25)	%†		(0.52)	%†		(0.36)	%†		(0.66)	%†
Net expense excluding management fees*		0.15	%		0.15	%		0.15	%		0.15	%
Net income (loss)		9.06	%		(5.29)	%		18.01	%		3.59	%

*      Annualized.

†      USCF paid certain expenses on a discretionary basis typically borne by CPER where expenses exceeded 0.15% (15 basis points) of CPER’s NAV, on an annualized basis. USCF has no obligation to continue such payments into subsequent periods.