SELECT A FUND USCI - United States Commodity Index Fund USO - United States Oil Fund USL - United States 12 Month Oil Fund BNO - United States Brent Oil Fund UNG - United States Natural Gas Fund UNL - United States 12 Month Natural Gas Fund UGA - United States Gasoline Fund CPER - United States Copper Index Fund SDCI - USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund GLDX - USCF Gold Strategy Plus Income Fund UMI - Midstream Energy Income Fund BNO United States Brent Oil Fund FUND DETAILS PERFORMANCE GROWTH OF $10K AVERAGE DAILY RETURNS PREMIUM DISCOUNTS CREATION REDEMPTION HOLDINGS ROLL/REBALANCE DATES DOCUMENTS Fund Facts as of NAV NAV Change 4PM Bid/Ask Midpoint Last Trade Price Premium Discount (%) 30-Day SEC Yield as of Trailing 12-Month Yield as of Shares Outstanding Total Net Assets Estimated Yield on Cash Holdings* as of *Represents the estimated annualized yield of the portfolio’s cash and cash equivalent holdings based on the current daily accrual rate. Actual rates are subject to change daily and may vary. Fund Details The United States Brent Oil Fund® LP (BNO) is an exchange-traded security designed to track the daily price movements of Brent crude oil. BNO issues shares that may be purchased and sold on the NYSE Arca. The investment objective of BNO is for the daily changes in percentage terms of its shares' NAV to reflect the daily changes in percentage terms of the spot price of Brent crude oil, as measured by the daily changes in price of BNO's Benchmark Oil Futures Contract, less BNO's expenses. BNO's Benchmark is the near month futures contract traded on the ICE Futures Exchange. If the near month futures contract is within two weeks of expiration, the Benchmark will be the next month contract to expire. The crude oil contract is Brent crude oil. BNO invests primarily in listed crude oil futures contracts and other oil-related futures contracts, and may invest in forwards and swap contracts. These investments will be collateralized by cash, cash equivalents, and US government obligations with remaining maturities of two years or less. BNO's Fund Benefits BNO offers commodity exposure without using a commodity futures account. BNO provides features including, intra-day pricing, and market, limit, and stop orders. BNO provides portfolio holdings, market price, NAV and TNA on its website each day. Ticker BNO Intraday Indicative Value BNO.IV CUSIP 91167Q100 ISIN US91167Q1004 Minimum Trade 1 share Marginable YES Options Traded YES Management Fee Total Expense Ratio Trading Increment $0.01 Administrator The Bank of New York Mellon Distributor ALPS Distributors, Inc. General Partner United States Commodity Funds, LLC Historical NAV The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Performance As of The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. The General Partner waived fees and reimbursed expenses of the Fund limiting Total Annual Operating Expenses to 0.75% of the Fund's average net assets through April 30, 2021. The Fund's NAV is calculated by dividing the value of the Fund's total assets less total liabilities by the number of shares outstanding. Share price returns are based on closing prices for the Fund and do not represent the returns an investor would receive if shares were traded at other times. †BNO commenced operations on 06/02/2010 Growth of $10,000 Investment This chart shows how a hypothetical investment of $10,000 in the Fund at its inception would have performed versus an investment in the Fund’s benchmark futures contract(s). The values indicate what $10,000 would have grown to over the time period indicated. The hypothetical example does not represent the returns of any particular investment. The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Average Daily Returns As of 09/30/2021 The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Premium / Discount The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. The above frequency distribution chart presents information about the difference between the daily market price for shares of the Fund and the Fund's reported NAV. The amount that the Fund's market price is above the reported NAV is called the premium. The amount that the Fund's market price is below the reported NAV is called the discount. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 pm Eastern time). The vertical axis of the chart shows the premium or discount expressed in basis points. The horizontal axis indicates the number of trading days in the period covered by the chart. Each bar in the chart shows the number of trading days in which the Fund traded within the premium/discount range indicated. * A basis point is equal to 1/100th of 1%. Premium/Discount Daily Information as of NAV 4PM Bid/Ask Midpoint Difference ($) Premium/Discount (%) Creation & Redemption Process Creation/redemption basket size: 50,000 shares Transaction charge for each Authorized Purchasers order is $350 (per order, not per basket) Order cut-off for APs is 12:00 pm ET BNO's NAV is calculated generally around 4:00 pm ET Settlement is T+2 Custodian is The Bank of New York Mellon Marketing Agent is ALPS Distributors, Inc. BNO United States Brent Oil Fund® and Design mark are registered trade and service marks of The United States Commodity Funds LLC. The United States Commodity Funds® is a registered trademark. All rights reserved. © Copyright 2006-2021 | BNO United States Brent Oil Fund | All rights reserved. Back to Top Our Company Disclosures Definitions Terms of Use Careers K-1 Information Privacy Site Map Stay Connected NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE This information is intended for U.S. residents. One cannot invest directly in an index. USCF is a registered service mark of United States Commodity Funds LLC. United States Commodity Funds LLC and USCF Advisers LLC are wholly owned limited liability companies of Wainwright Holdings, Inc. ALPS Distributors, Inc., is the distributor for funds sponsored by the United States Commodity Funds LLC and funds that are series of the USCF ETF Trust and not affiliated with USCF Investments or Wainwright Holdings, Inc. Shares of the funds that are exchange-traded products (ETPs) or exchange-traded funds (ETFs) are not individually redeemable and owners of any Shares may acquire those Shares from the Funds and tender those shares for redemption to the Funds in Creation Unit aggregations of 50,000 or 100,000 Shares. Investments contain a heightened risk including market and price movements that are outside the Fund’s control and may be influenced by infectious disease outbreaks, including Covid-19, weather and climate conditions, livestock disease, war, terrorism, political conflicts and economic event, interest rates, currency exchange rates, U.S. and non-U.S. government regulation and taxation Investments held in U.S. government securities and money market instruments can suffer losses. EXCHANGE TRADED PRODUCT DISCLOSURES We advise you to consider a Fund's objectives, risks, charges and expenses carefully before investing. Download a copy of a Fund's Prospectus by clicking one of the following: USCI, USO, USL, BNO, UNG, UNL, UGA, CPER which contains this and other information, or contact the Fund’s distributor at: ALPS Distributors, Inc., 1290 Broadway, Suite 1000, Denver, Colorado 80203 or call 800-920-0259. Please read the Fund’s Prospectus carefully before investing. USCI, USO, USL, BNO, UNG, UNL, UGA, and CPER are commodity pools regulated by the Commodity Futures Trading Commission. These Funds, which are ETPs, are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder. Past performance does not guarantee future results. Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. An investor may lose all or substantially all of an investment. Investing in commodity interests subject each Fund to the risks of its related industry. These risks could result in large fluctuations in the price of a particular Fund's respective shares. Funds that focus on a single sector generally experience greater volatility. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing. INVESTING IN USO INVOLVES RISKS SIMILAR TO THOSE INVOLVED WITH AN INVESTMENT DIRECTLY IN THE OIL FUTURES MARKETS, BUT IT IS NOT A PROXY FOR TRADING DIRECTLY IN THE OIL MARKETS AND THESE RISKS ARE REAL. Investing in USO also involves correlation risk. Recent and unprecedented volatility in the crude oil markets in 2020 demonstrates that these risks are real. An investor should consider carefully the risks described below before making an investment decision. See the section of the USO prospectus titled “Risk Factors Involved with an Investment in USO.” Certain of these risk factors are summarized in the Disclosures section of this website. EXCHANGE TRADED FUND DISCLOSURES We advise you to consider a fund's objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund's Prospectus by clicking one of the following: SDCI, UMI, GLDX. Please read any Prospectus carefully before investing. An investment in the USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI), the USCF Midstream Energy Income Fund (UMI) and the USCF Gold Strategy Plus Income Fund (GLDX) may not be suitable for all investors. Investing involves risks, including loss of principal. The market value of shares of common stock can be volatile and change quickly. There is no guarantee that the fund's objective will be met. Fund concentration generally leads to greater price volatility. Foreign investing involves special risks such as currency fluctuations and political uncertainty. Investment in small companies generally experience greater price volatility. Past performance does not guarantee future results. Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. An investor may lose all or substantially all of an investment. Investing in commodity interests subject each Fund to the risks of its related industry. These risks could result in large fluctuations in the price of a particular Fund's respective shares. Funds that focus on a single sector generally experience greater volatility. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing. SDCI, UMI, and GLDX shares are not individually redeemable. Individual investors must buy and sell SDCI, UMI, and GLDX shares in the secondary market through their brokerage firm. Brokerage commissions may apply and will reduce returns. UMI and GLDX are new and have a limited operating history. © 2021 USCF | All rights reserved.