UNITED ST HT OIL The United States Diesel-Heating Oil FundSM LP (UHN) is an exchange-traded security that is designed to track in percentage terms the movements of heating oil prices. UHN issues shares that may be purchased and sold on the NYSE Arca.
UHN's Objective - The investment objective of UHN is for the daily changes in percentage terms of its shares' net asset value ("NAV") to reflect the daily changes in percentage terms of the spot price of heating oil (also known as No. 2 fuel) for delivery at the New York harbor, as measured by the changes in the price of the futures contract on heating oil as traded on the NYMEX (the "Benchmark Futures Contract") that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case the futures contract will be the next month contract to expire, less UHN's expenses.
UHN's Target - Heating oil is one of the most important physical commodities in the global economy. Heating oil futures are one of the most actively traded futures contracts and represent the primary US benchmark for heating oil prices.
UHN's Portfolio - The portfolio consists of listed heating oil futures contracts and other heating oil-related futures and may consist of 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 Data
TickerSymbol .................................... UHN
Intra-day Indicative Ticker .............UHN.IV NAV.................................................$12.69
Shares Outstanding ......................250,000
Total Net Assets .......................$3,171,313 CUSIP...................................... 91204P107
Primary Exchange ...................NYSE Arca ManagementFee ............................ 0.60%
TotalExpense Ratio ....................... 0.75%^
Fund Benefits
■■ UHN has 'equity-like' features including, intra-day pricing, and
Fund Performance as of 3/31/16
1 month | 3 month | Year-to-Date | 1 year | 5 year | Since Inception (4/9/2008) | |
UHN (NAV) | 7.54% | 1.68% | 1.68% | -40.00% | -64.94% | -74.62% |
Share Price | 7.34% | 1.04% | 1.04% | -40.55% | -65.17% | -74.84% |
Benchmark | 7.63% | 1.89% | 1.89% | -39.57% | -63.47% | -73.32% |
The performance quoted represents past performance, does not guarantee future results and current performance may be lower or higher than the data quoted.
The Fund's NAV is calculated by dividing the value of the Fund's total assets less total liabilities by the number of shares outstanding. Share Price returns are based on closing prices for the Fund and do not represent the returns an investor would receive if shares were traded at other times.
Growth of a $10,000 Investment as of 3/31/16
This chart shows how a hypothetical investment of $10,000 in the Fund at its inception would have performed versus an investment in the Fund's benchmark. The values indicate what $10,000 would have grown to over the time period indicated. The hypothetical example does not represent the returns of any particular investment.
market, limit, and stop orders.
■■ UHN offers commodity exposure without using a commodity futures account.
■■ UHN provides Portfolio holdings, Market price, NAV and TNA on its website each day.
$15,000
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UHN
Benchmark
$5,000
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UHN seeks to manage its portfolio such that the average daily changes in its NAV over any rolling 30-day period is within 10% +/- of the average daily change in the price of the benchmark.
This investment is not suitable for all investors. Funds that focus on a single sector generally experience greater volatility.
Important Considerations
■ ■ UHN® is not a mutual fund or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and UHN is not subject to regulation thereunder.■■ This investment is not suitable for all investors.
■■ Commodity trading is highly speculative. Commodity prices and futures generally are volatile and are not suitable for all investors. UHN is speculative and involves a high degree of risk. UHN is likely to be volatile and could suffer from periods of prolonged decline in value. An investor may lose all or substantially all of an investment in UHN. Funds that focus on a single sector generally experience greater volatility.
■■ The Fund is not operated in a fashion such that its NAV will reflect the percentage change of the price of any particular futures contract as measured over a time period greater than one day. It is not the intent to operate the Fund in a fashion such that its per share NAV will equal, in dollar terms, the spot price of any particular futures contract.
■■ There is the risk that the daily changes in the price of UHN's shares on the NYSE Arca will not closely track the changes in the price of heating oil. If these correlations do not exist, then investors may not be able to use UHN as a cost-effective way to invest indirectly in heating oil or as a hedge against the risk of loss in heating oil-related transactions.
■■ UHN could terminate at any time and cause the liquidation of your investment which may upset the overall maturity and timing of your investment portfolio. An unanticipated number of redemption requests during a short period of time could have an adverse effect on the NAV or UHN.
■■ UHN may not earn trading gains sufficient to compensate for the fees and expenses that it must pay, and as such, it may not earn any profit. You should not invest in UHN if you will need cash distributions from UHN to pay taxes on your share of income and gains of UHN, if any, or for any other reason.
■■ Shares of UHN may be purchased or sold throughout the day through any brokerage account which will result in typical brokerage commissions. Investors buy and sell shares in the secondary market (i.e., not directly from UHN). Only authorized purchasers may trade directly with UHN in minimum blocks of 50,000 shares.
■■ K-1s will be available for tax reporting purposes. You may download them electronically through a link on each fund's website.
^ USCF has voluntarily agreed to pay certain expenses typically paid by DNO, BNO, UNL, UGA and UHN that exceeds 0.15% of NAV on an annualized basis. USCF may discontinue this arrangement at any time, which could negatively impact an investment in DNO, BNO, UNG, UNL, UGA and UHN.
This material must be preceded or accompanied by a Prospectus. Please read it carefully before investing.
The United States Diesel-Heating Oil Fund is distributed by ALPS Distributors, Inc., administered by Brown Brothers Harriman & Co. and United States Commodity Funds LLC is the Sponsor.
UHN United States Diesel-Heating Oil Fund® and Design mark are registered service marks of The United States Commodity Funds LLC. The United States Commodity Funds® is a registered trademark. All rights reserved.
© Copyright 2008-2016 United States Heating Oil Fun All rights reserved.
For additional information contact: ALPS Distributors, Inc., 1290 Broadway, Suite 1100, Denver, Colorado 80203 or call 1.800.920.0259 or visit www.unitedstatescommodityfunds.com.
Shares of UHN are not FDIC insured, may lose value and have no bank guarantee.
USO001125 7/31/16
United States Heating Oil Fund LP issued this content on 31 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 April 2016 21:02:24 UTC
Original Document: http://www.unitedstatescommodityfunds.com/documents/pdfs/unitedstatesdiesel-heatingoilfund-fs-20160331.pdf
