- ISIN
- US91288V1035
- CUSIP
- 91288V103
- Issuer
- Concierge Technologies
- Inception Date
- Dec 6, 2007
- Category
- Oil & Gas
- Leveraged
- 1x (No leverage)
- Index Tracked
- 12 Month Light Sweet Crude Oil
- Distribution Policy
- Accumulating
- Asset Class
- Commodity
- Assets Under Management
- $40M
Share Price Chart
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Performance
USL Performance Chart
United States 12 Month Oil Fund LP (USL) is up 57.2% since the beginning of the year. USL is currently trading at $52 per share. Investors who bought $1,000 worth of USL shares 5 years ago would now be looking at an investment worth $2,152.
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Returns By Period
United States 12 Month Oil Fund LP (USL) has returned 57.21% so far this year and 52.34% over the past 12 months.
United States 12 Month Oil Fund LP
- 1D
- -2.09%
- 1M
- 2.40%
- YTD
- 57.21%
- 6M
- 51.69%
- 1Y
- 52.34%
- 3Y*
- 17.22%
- 5Y*
- 16.56%
- 10Y*
- 10.15%
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- 0.25%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USL Monthly Returns History
Based on dividend-adjusted daily data since Dec 6, 2007, USL's average daily return is +0.02%, while the average monthly return is +0.38%. At this rate, an investment would double in approximately 15.2 years.
Historically, 54% of months were positive and 46% were negative. The best month was May 2020 with a return of +27.5%, while the worst month was Mar 2020 at -32.4%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 8 months.
On a daily basis, USL closed higher 52% of trading days. The best single day was Mar 25, 2020 with a return of +13.1%, while the worst single day was Mar 9, 2020 at -19.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 11.78% | 2.98% | 25.68% | 11.29% | -3.88% | 1.59% | 57.21% | ||||||
| 2025 | 1.10% | -2.70% | 2.15% | -15.98% | 3.22% | 5.98% | 7.43% | -4.52% | -1.17% | -2.15% | -1.81% | -2.59% | -12.37% |
| 2024 | 4.88% | 1.44% | 6.72% | 0.34% | -2.91% | 4.35% | -2.39% | -4.83% | -4.55% | 3.34% | -1.45% | 3.91% | 8.30% |
| 2023 | -0.93% | -3.04% | -1.09% | 1.46% | -9.27% | 5.07% | 14.22% | 2.23% | 5.27% | -4.31% | -4.68% | -4.00% | -1.11% |
| 2022 | 13.35% | 6.48% | 10.23% | 2.96% | 9.98% | -5.99% | -2.05% | -5.42% | -11.38% | 9.50% | 0.24% | -0.42% | 27.10% |
| 2021 | 5.76% | 16.50% | -1.09% | 6.44% | 5.16% | 9.08% | 1.60% | -4.19% | 8.67% | 7.13% | -14.46% | 12.63% | 62.48% |
Benchmark Metrics
United States 12 Month Oil Fund LP has an annualized alpha of 81.28%, beta of -0.63, and R2 of 0.07 versus S&P 500 Index. Calculated based on daily prices since December 07, 2007.
- This ETF captured 51.39% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -475.60%) - a profile typical of hedging or uncorrelated assets.
- Beta of -0.63 may look defensive, but with R2 of 0.07 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.07 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 81.28%
- Beta
- -0.63
- R²
- 0.07
- Upside Capture
- 51.39%
- Downside Capture
- -475.60%
Expense Ratio
USL has an expense ratio of 0.88%, placing it in the medium range.
Return for Risk
Risk / Return Rank
USL ranks 54 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for United States 12 Month Oil Fund LP (USL) and compare them to S&P 500 Index.
| USL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.31 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.14 | — | — |
| Martin ratioReturn relative to average drawdown | 6.33 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the United States 12 Month Oil Fund LP. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the United States 12 Month Oil Fund LP was 89.06%, occurring on Apr 28, 2020. The portfolio has not yet recovered.
The current United States 12 Month Oil Fund LP drawdown is 40.38%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -89.06%Apr 2020 | 11y 9mo | — | 17y 11moJul 2008 - now |
Financial crisis2007–2009 | -10.83%Mar 2008 | 5d | 19d | 24dMar 2008 - Apr 2008 |
Financial crisis2007–2009 | -10.40%Jan 2008 | 20d | 26d | 1mo 16dJan 2008 - Feb 2008 |
Financial crisis2007–2009 | -9.47%Jun 2008 | 13d | 2d | 15dMay 2008 - Jun 2008 |
Financial crisis2007–2009 | -6.96%Jul 2008 | 2d | 2d | 4dJul 2008 - Jul 2008 |
Drawdown Indicators
| USL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.06% | -9.10% | -79.96% |
Max Drawdown (1Y)Largest decline over 1 year | -16.76% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -23.33% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -33.82% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -66.02% | — | — |
Current DrawdownCurrent decline from peak | -40.38% | -2.97% | -37.41% |
Average DrawdownAverage peak-to-trough decline | -61.45% | -1.13% | -60.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.29% | — | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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