ETF Evaluator:
USCF SummerHaven Dyn CmdtyStgy NoK-1 ETF ()
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(as of Aug 26)
Best Performing in Commodities Broad Basket Over the Last Year
| 54.6% | VanEck Commodity Strategy ETF (PIT) |
| 44.8% | DB Commodity Long ETN (DPU) |
| 40.4% | iShares S&P GSCI Commodity-Indexed Trust (GSG) |
| 40.1% | iPath® Bloomberg Cmdty TR ETN (DJP) |
| 39.9% | Harbor Commodity All-Weather StrategyETF (HGER) |
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ETF Details
USCF SummerHaven Dyn CmdtyStgy NoK-1 ETF Overview
USCF SummerHaven Dyn CmdtyStgy NoK-1 ETF (SDCI) is a passively managed Commodities Commodities Broad Basket exchange-traded fund (ETF). USCF Investments launched the ETF in 2018.
The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the SummerHaven Dynamic Commodity Index Total ReturnSM.
The index reflects the performance of a fully margined and collateralized portfolio of commodities futures contracts. Under normal market conditions, the fund will invest 80% of its assets in futures contracts and other commodity-related derivative instruments. In determining the value of the fund’s assets for this purpose, it will value each derivative instrument using the instrument’s notional amount. The fund is non-diversified.
About USCF SummerHaven Dyn CmdtyStgy NoK-1 ETF (SDCI)
There are 2 members of the management team with an average tenure of 6.14 years: Andrew Ngim (2018) and Seth Lancaster (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and SummerHaven Dynamic Commodity TR USD index with a weighting of 100%. USCF SummerHaven Dyn CmdtyStgy NoK-1 ETF has 24 securities in its portfolio. The top 10 holdings constitute 58.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
USCF SummerHaven Dyn CmdtyStgy NoK-1 ETF is part of the Real Assets global asset class and is within the Commodities ETF group. USCF SummerHaven Dyn CmdtyStgy NoK-1 ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 25.1% (25.1% domestic bond, 0.0% foreign bond and 0.0% convertible bond). USCF SummerHaven Dyn CmdtyStgy NoK-1 ETF has 55.5% of the portfolio in cash.
Assets Under Management
The fund has $575 million in total assets, which is below the $831 million average for the Commodities Broad Basket category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SDCI Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The USCF SummerHaven Dyn CmdtyStgy NoK-1 ETF expense ratio is above average compared to funds in the Commodities Broad Basket category. USCF SummerHaven Dyn CmdtyStgy NoK-1 ETF has an expense ratio of 0.60%, which is 9% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. USCF SummerHaven Dyn CmdtyStgy NoK-1 ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 26% for the Commodities Broad Basket category.
Recently, in the month of July 2026, USCF SummerHaven Dyn CmdtyStgy NoK-1 ETF returned 9.5%, which earned it a grade of B, as the Commodities Broad Basket category had an average return of 6.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
USCF SummerHaven Dyn CmdtyStgy NoK-1 ETF has a trailing yield of 2.81%, which is below the 5.12% category average.
The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
USCF SummerHaven Dyn CmdtyStgy NoK-1 ETF Grades
Year to date, the ETF has returned 30.9%, 8.8 percentage points better than the category, which translates into a grade of B. The fund has returned 36.5% over the past year (grade of B), 20.4% over the past three years (grade of A) and 20.7% per year over the past five years (grade of A).
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SDCI Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SDCI Return (NAV) | 9.5% | 1.6% | 36.5% | 20.4% | 20.7% | na |
| SDCI Return (Price) | 9.5% | 1.4% | 36.5% | 20.4% | 20.8% | na |
| NAV +/- Price Return | -0.003% | 0.160% | 0.018% | 0.045% | -0.088% | na |
| Commodities Broad Basket Avg | 6.9% | -4.5% | 31.7% | 13.2% | 11.6% | 8.6% |
| SDCI Grade (NAV) | B | A | B | A | A | na |
| +/- Category (NAV) | 2.6% | 6.1% | 4.8% | 7.3% | 9.1% | na |
| SDCI Tax-Cost Ratio | na | na | 1.4% | 1.5% | 4.7% | na |
SDCI Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SDCI Return (NAV) | 30.9% | 17.7% | 17.9% | 0.7% | 31.3% | 36.1% | -11.1% | -1.9% | na | na | na |
| SDCI Return (Price) | 31.4% | 17.5% | 18.0% | -0.9% | 32.9% | 36.5% | -10.6% | -2.4% | na | na | na |
| NAV +/- Price Ret | 0.016% | -0.009% | 0.001% | -2.377% | 0.051% | 0.012% | -0.043% | 25.4% | na | na | na |
| Commodities Broad Basket Avg | 22.1% | 15.5% | 7.4% | -4.2% | 15.9% | 31.9% | -4.8% | 7.3% | -10.7% | 5.9% | 11.7% |
| SDCI Grade (NAV) | B | B | A | A | A | B | D | F | na | na | na |
| +/- Category | 8.8% | 2.2% | 10.6% | 4.8% | 15.4% | 4.2% | -6.3% | -9.2% | na | na | na |
| Risk Measures | |
| Beta: | 0.84 |
| R-Squared: | 82% |
| Standard Deviation: | 12.6% |
| Category Risk Index: | 0.87 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 1.03 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 2.8% |
| Total Assets: | $ 576 Mil |
| Share Class Assets: | $ 576 Mil |
| Turnover: | 0.0% |
| Expense Ratio: | 0.60% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 8.3 years | |||
| Average Tenure: 6.1 years | |||
| Managers (Year): Ngim Andrew (2018), Lancaster Seth (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 24 |
| % in Top 10 Holdings: | 58.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 25.1% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 19.4% |
| Cash: | 55.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | USCF Investments |
| Phone Number: | 800-920-0259 |
| Website: | www.uscfinvestments.com |
| Inception Date: | May 3, 2018 |
Expenses and Fees
| Expense Ratio (%): | 0.60% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.66% |
