USCF launches United States Metals Index

ALAMEDA (Commodity Online): United States Metals Index Fund (USMI), a new exchange traded commodity index fund under the ticker "USMI” was launched by United States Commodity Funds LLC.

The United States Metals Index Fund (USMI) is an exchange traded product ("ETP") that seeks to reflect the performance of a portfolio of metals futures contracts fully collateralized with U.S. Treasury Bills.


USMI is designed to track the price movements of the SummerHaven Dynamic Metals Index Total Return and is the twelfth ETF in the USCF range, which has some $2.7bn in assets under management. The SummerHaven Dynamic Metals Index has been specifically designed as a benchmark for investors seeking attractive risk-adjusted returns on a portfolio industrial and precious metals futures contracts.

The target of United States Metals Index Fund's is an Index comprised of a group of 10 metals currently traded on the LME, COMEX, and NYMEX exchanges. The Metals Index attempts to maximize back wardation and minimize contango while using contracts in the liquid portions of the futures curve.

The investment objective of USMI is for the daily changes in percentage terms of its units' net asset value ("NAV") to reflect the daily changes in percentage terms of the Summer Haven Dynamic Metals Index Total Return, less USMI's expenses.

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