ETF Evaluator:
USCF Midstream Energy Income ETF ()
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(as of Aug 26)
Best Performing in Energy Limited Partnership Over the Last Year
| 31.2% | Invesco SteelPath MLP & Enrgy Infras ETF (PIPE) |
| 30.1% | VanEck Energy Income ETF (EINC) |
| 29.1% | Barclays ETN+ Select MLP (ATMP) |
| 28.7% | Alerian Energy Infrastructure ETF (ENFR) |
| 28.0% | USCF Midstream Energy Income ETF (UMI) |
Risk
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Risk
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ETF Details
USCF Midstream Energy Income ETF Overview
USCF Midstream Energy Income ETF (UMI) is an actively managed Sector Equity Energy Limited Partnership exchange-traded fund (ETF). USCF Investments launched the ETF in 2021.
The investment seeks a high level of current income; as a secondary objective, the fund seeks capital appreciation.
The fund will seek to achieve its investment objectives by investing, under normal market conditions, at least 80% of its net assets in equity securities of U.S. and Canadian companies of any market capitalization deemed by the Sub-Adviser to be engaged in the midstream energy sector. It will invest more than 25% of the value of its total assets in the energy, oil, and gas industries. The fund is non-diversified.
About USCF Midstream Energy Income ETF (UMI)
There are 2 members of the management team with an average tenure of 5.36 years: John Cusick (2021) and Adam Fackler (2021). 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 Alerian Midstream Energy Select TR USD index with a weighting of 100%. USCF Midstream Energy Income ETF has 25 securities in its portfolio. The top 10 holdings constitute 62.5% 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 Midstream Energy Income ETF is part of the Equity global asset class and is within the Sector Equity ETF group. USCF Midstream Energy Income ETF has 27.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 72.5% There is 27.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). USCF Midstream Energy Income ETF has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $509 million in total assets, which is below the $1 billion average for the Energy Limited Partnership 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.
UMI 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 Midstream Energy Income ETF expense ratio is above average compared to funds in the Energy Limited Partnership category. USCF Midstream Energy Income ETF has an expense ratio of 0.69%, which is 10% 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 Midstream Energy Income ETF has a portfolio turnover rate of 41%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 21% for the Energy Limited Partnership category.
Recently, in the month of July 2026, USCF Midstream Energy Income ETF returned 3.3%, which earned it a grade of C, as the Energy Limited Partnership category had an average return of 4.4%. 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 Midstream Energy Income ETF has a trailing yield of 5.81%, which is above the 5.06% category average.
The fund normally distributes its income monthly.
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 Midstream Energy Income ETF Grades
Year to date, the ETF has returned 26.2%, 1.1 percentage points better than the category, which translates into a grade of C. The fund has returned 28.0% over the past year (grade of B), 25.7% over the past three years (grade of B) and 22.3% per year over the past five years (grade of C).
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UMI 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 |
|
| UMI Return (NAV) | 3.3% | 2.1% | 28.0% | 25.7% | 22.3% | na |
| UMI Return (Price) | 3.3% | 2.1% | 28.2% | 25.8% | 22.3% | na |
| NAV +/- Price Return | -0.005% | -0.001% | -0.229% | -0.106% | -0.050% | na |
| Energy Limited Partnership Avg | 4.4% | 2.2% | 24.7% | 23.2% | 21.3% | 9.5% |
| UMI Grade (NAV) | C | C | B | B | C | na |
| +/- Category (NAV) | -1.1% | -0.2% | 3.3% | 2.5% | 1.0% | na |
| UMI Tax-Cost Ratio | na | na | 2.7% | 2.1% | 1.9% | na |
UMI Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| UMI Return (NAV) | 26.2% | 5.5% | 42.8% | 14.6% | 21.2% | na | na | na | na | na | na |
| UMI Return (Price) | 26.7% | 5.1% | 43.0% | 14.6% | 21.3% | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.020% | -0.077% | 0.004% | -0.003% | 0.003% | na | na | na | na | na | na |
| Energy Limited Partnership Avg | 25.0% | 6.0% | 34.2% | 17.3% | 23.5% | 38.2% | -26.5% | 13.9% | -14.9% | -4.6% | 27.4% |
| UMI Grade (NAV) | C | D | A | D | D | na | na | na | na | na | na |
| +/- Category | 1.1% | -0.5% | 8.6% | -2.7% | -2.3% | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.30 |
| R-Squared: | 7% |
| Standard Deviation: | 14.4% |
| Category Risk Index: | 0.97 |
| Category Risk Rating: | Average |
| Total Risk Index: | 1.17 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 5.8% |
| Total Assets: | $ 509 Mil |
| Share Class Assets: | $ 509 Mil |
| Turnover: | 41.0% |
| Expense Ratio: | 0.69% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 5.4 years | |||
| Average Tenure: 5.4 years | |||
| Managers (Year): Cusick John (2021), Fackler Adam (2021) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 25 |
| % in Top 10 Holdings: | 62.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 27.3% |
Portfolio Allocation |
|
| Domestic Stock: | 72.5% |
| Foreign Stock: | 27.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | USCF Investments |
| Phone Number: | 800-920-0259 |
| Website: | www.uscfinvestments.com |
| Inception Date: | March 24, 2021 |
Expenses and Fees
| Expense Ratio (%): | 0.69% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.76% |
