ETF Evaluator:
USCF Gold Strategy Plus Income Fund ()
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(as of Aug 26)
Best Performing in Commodities Focused Over the Last Year
| 2251.5% | Breakwave Tanker Shipping ETF (BWET) |
| 81.8% | United States Gasoline (UGA) |
| 64.2% | Commodities Focused () |
| 63.3% | Invesco DB Energy (DBE) |
| 61.8% | United States Oil (USO) |
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ETF Details
USCF Gold Strategy Plus Income Fund Overview
USCF Gold Strategy Plus Income Fund (USG) is an actively managed Commodities Commodities Focused exchange-traded fund (ETF). USCF Investments launched the ETF in 2021.
The investment seeks results that generally correspond over the long term to the performance of the price of gold, while generating dividend income through selling gold call options and through collateral interest income.
The fund adviser seeks to achieve its investment objective by maintaining substantial economic exposure to the performance of the physical gold and gold futures markets (the “Gold Markets”). The fund will only invest in COMEX Gold Warrants and gold futures through the subsidiary. The fund is non-diversified.
About USCF Gold Strategy Plus Income Fund (USG)
There are 2 members of the management team with an average tenure of 3.84 years: Jake DeSantis (2021) and Rajkumar Janardanan (2023). 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 Bloomberg Sub Gold TR USD index with a weighting of 100%. USCF Gold Strategy Plus Income Fund has 2 securities in its portfolio. The top 10 holdings constitute 19.9% 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 Gold Strategy Plus Income Fund is part of the Real Assets global asset class and is within the Commodities ETF group. USCF Gold Strategy Plus Income Fund 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 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). USCF Gold Strategy Plus Income Fund has 80.1% of the portfolio in cash.
Assets Under Management
The fund has $8 million in total assets, which is below the $4 billion average for the Commodities Focused 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.
USG 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 Gold Strategy Plus Income Fund expense ratio is average compared to funds in the Commodities Focused category. USCF Gold Strategy Plus Income Fund has an expense ratio of 0.45%, which is 41% lower than its category average, making the fund expense ratio grade a A. 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 Gold Strategy Plus Income Fund 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 15% for the Commodities Focused category.
Recently, in the month of July 2026, USCF Gold Strategy Plus Income Fund returned 0.8%, which earned it a grade of C, as the Commodities Focused category had an average return of 5.1%. 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 Gold Strategy Plus Income Fund has a trailing yield of 29.70%, which is above the 7.11% category average.
The fund normally distributes its income quarterly and its capital gains 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 Gold Strategy Plus Income Fund Grades
Year to date, the ETF has returned -6.3%, 37.7 percentage points worse than the category, which translates into a grade of C. The fund has returned 17.8% over the past year (grade of D) and 22.7% over the past three years (grade of B).
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USG 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 |
|
| USG Return (NAV) | 0.8% | -11.6% | 17.8% | 22.7% | na | na |
| USG Return (Price) | 0.8% | -11.8% | 17.5% | 22.7% | na | na |
| NAV +/- Price Return | 0.011% | 0.177% | 0.325% | -0.021% | na | na |
| Commodities Focused Avg | 5.1% | -6.8% | 64.2% | 14.3% | 9.6% | 6.0% |
| USG Grade (NAV) | C | C | D | B | na | na |
| +/- Category (NAV) | -4.3% | -4.8% | -46.4% | 8.4% | na | na |
| USG Tax-Cost Ratio | na | na | 8.8% | 5.0% | na | na |
USG Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| USG Return (NAV) | -6.3% | 51.4% | 23.9% | 9.3% | 1.4% | na | na | na | na | na | na |
| USG Return (Price) | -6.4% | 51.5% | 23.6% | 8.5% | 2.1% | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.011% | 0.003% | -0.012% | -0.086% | 0.445% | na | na | na | na | na | na |
| Commodities Focused Avg | 31.4% | 35.6% | 6.2% | -1.1% | 9.2% | 27.8% | 1.5% | 14.9% | -9.5% | 3.1% | 10.0% |
| USG Grade (NAV) | C | C | B | B | C | na | na | na | na | na | na |
| +/- Category | -37.7% | 15.8% | 17.7% | 10.3% | -7.7% | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.25 |
| R-Squared: | 4% |
| Standard Deviation: | 16.4% |
| Category Risk Index: | 0.64 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 1.33 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 29.7% |
| Total Assets: | $ 9 Mil |
| Share Class Assets: | $ 9 Mil |
| Turnover: | 0.0% |
| Expense Ratio: | 0.45% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 4.8 years | |||
| Average Tenure: 3.8 years | |||
| Managers (Year): DeSantis Jake (2021), Janardanan Rajkumar (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 2 |
| % in Top 10 Holdings: | 19.9% |
| 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: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 19.9% |
| Cash: | 80.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | USCF Investments |
| Phone Number: | 800-920-0259 |
| Website: | www.uscfinvestments.com |
| Inception Date: | November 2, 2021 |
Expenses and Fees
| Expense Ratio (%): | 0.45% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.76% |
