Fund Objectives & Key Features

USL is a commodity pool organized as a Delaware limited partnership that issues units that may be purchased and sold on the NYSE Arca.

USL’s Objective

The investment objective of USL is to have the changes in percentage terms of the units’ net asset value reflect the changes in percentage terms of the price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the changes in the average of the prices of 12 Futures Contracts on crude oil traded on the New York Mercantile Exchange (the “Benchmark Futures Contracts”), consisting of the near month contract to expire and the contracts for the following eleven months, for a total of 12 consecutive months’ contracts, except when the near month contract is within two weeks of expiration, in which case it will be measured by the futures contracts that are the next month contract to expire and the contracts for the following eleven consecutive months, less USL’s expenses. When calculating the daily movement of the average price of the 12 contracts each contract month will be equally weighted.

USL’s Portfolio

The portfolio consists of listed crude oil futures contracts and other oil related futures, 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.

Fund Benefits

  • USL provides a vehicle to hedge crude oil movements or to take directional positions on oil prices
  • USL offers the convenience of an exchange-traded security (NYSE Arca)
  • USL permits commodity-like exposure without using a commodity futures account
  • USL provides equity-like order flexibility, including market, limit, stop, stop limit and GTC orders
  • USL provides Market Price, NAV, and Portfolio Holdings on a daily basis

For a copy of the Prospectus contact:
ALPS Distributors, Inc., 1290 Broadway, Suite 1100, Denver, Colorado 80203 or call 1.800.920.0259 or Click Here.

This investment may not be suitable for all investors.

For further discussion of these and additional risks associated with an investment in USL units, Click Here.

Investing in oil interests subjects USL to the risks of the oil industry. These risks could result in large fluctuations in the price of USL’s units. An investor could lose all or substantially all of his/her investment.  The United States 12 Month Oil Fund is distributed by ALPS Distributors, Inc.

© 2008 United States 12 Month Oil Fund, LP