United States Commodity Index Funds Trust 10-Q for FY2023 Q3

United States Commodity Index Funds Trust (USCI)

10-Q 2023-11-07 For: 2023-09-30

Added on April 12, 2026

About this 10-Q

United States Commodity Index Funds Trust filed this 10-Q on November 7, 2023, covering the quarter ended September 30, 2023 (FY2023 Q3).

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →

Delaware		27-1537655
(State or other jurisdiction of		(I.R.S. Employer
incorporation or organization)		Identification No.)

Title of each class:	Trading Symbol(s)	Name of each exchange on which registered:
Shares of United States Commodity Index Fund	USCI	NYSE Arca, Inc.
Shares of United States Copper Index Fund	CPER	NYSE Arca, Inc.

Large Accelerated Filer	☐	Accelerated Filer	☒
Non-Accelerated Filer	☐	Smaller Reporting Company	☐
Emerging Growth Company	☐


		Number of Outstanding Shares as of October 30, 2023
United States Commodity Index Fund		3,250,000
United States Copper Index Fund		5,600,000
Total		8,850,000


	Page

Part I. FINANCIAL INFORMATION

Item 1. Condensed Financial Statements.	1

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.	31

Item 3. Quantitative and Qualitative Disclosures About Market Risk.	70

Item 4. Controls and Procedures.	71

Part II. OTHER INFORMATION

Item 1. Legal Proceedings.	72

Item 1A. Risk Factors.	75

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.	75

Item 3. Defaults Upon Senior Securities.	75

Item 4. Mine Safety Disclosures.	76

Item 5. Other Information.	76

Item 6. Exhibits.	77


Documents		Page

Condensed Statements of Financial Condition at September 30, 2023 (Unaudited) and December 31, 2022		2-4

Condensed Schedule of Investments (Unaudited) at September 30, 2023		5-7

Condensed Statements of Operations (Unaudited) for the three and nine months ended September 30, 2023 and 2022		8-10

Condensed Statements of Changes in Capital (Unaudited) for the three and nine months ended September 30, 2023 and 2022		11-13

Condensed Statements of Cash Flows (Unaudited) for the nine months ended September 30, 2023 and 2022		14-16

Notes to Condensed Financial Statements (Unaudited) for the period ended September 30, 2023		17-30


	September 30, 2023		December 31, 2022
Assets
Cash and cash equivalents (at cost $184,875,528 and $233,130,983, respectively) (Notes 2 and 6)	$	184,875,528	$	233,130,983
Equity in trading accounts:
Cash and cash equivalents (at cost $8,084,235 and $12,926,388, respectively)		8,084,235		12,926,388
Unrealized gain (loss) on open commodity futures contracts		1,818,757		9,398,730
Dividends receivable		299,275		833,949
Interest receivable		306,639		64,059
Prepaid insurance^*		36,843		11,886

Total Assets	$	195,421,277	$	256,365,995

Liabilities and Capital
Management fees payable (Note 4)	$	128,028	$	178,702
Professional fees payable		187,370		340,128
Brokerage commissions payable		3,955		3,955
Directors’ fees payable^*		4,152		5,696

Total Liabilities		323,505		528,481

Commitments and Contingencies (Notes 4, 5 & 6)

Capital
Sponsor		—		—
Shareholders		195,097,772		255,837,514
Total Capital		195,097,772		255,837,514

Total Liabilities and Capital	$	195,421,277	$	256,365,995

Shares outstanding		3,300,000		4,550,000
Net asset value per share	$	59.12	$	56.23
Market value per share	$	59.16	$	56.28


				Fair
				Value/Unrealized
				Gain (Loss) on
				Open
			Number of	Commodity		% of Partners’
	Notional Amount		Contracts	Contracts		Capital
Open Commodity Futures Contracts - Long
United States Contracts
NYMEX RBOB Gasoline Futures RB December 2023 contracts, expiring November 2023	$	13,936,495	137	$	(416,896)	(0.21)
ICE Cocoa Futures CC December 2023 contracts, expiring December 2023		13,861,770	402		(121,410)	(0.06)
CBOT Soybean Oil Futures BO December 2023 contracts, expiring December 2023		15,180,929	406		(1,580,741)	(0.81)
CME Lean Hogs Futures LH December 2023 contracts, expiring December 2023		14,210,669	486		(257,609)	(0.13)
ICE Coffee Futures KC December 2023 contracts, expiring December 2023		13,854,656	249		(207,900)	(0.11)
NYMEX WTI Crude Oil Futures CL January 2024 contracts, expiring December 2023		12,729,370	161		1,274,410	0.65
COMEX Copper Futures HG December 2023 contracts, expiring December 2023		14,695,413	154		(306,038)	(0.16)
COMEX Silver Futures SI December 2023 contracts, expiring December 2023		13,780,355	121		(198,105)	(0.10)
NYMEX NY Harbour ULSD Futures HO January 2024 contracts, expiring December 2023		13,038,309	111		1,253,518	0.64
CBOT Soybean Meal Futures SM January 2024 contracts, expiring January 2024		14,701,440	362		(967,160)	(0.50)
ICE Sugar #11 Futures SB May 2024 contracts, expiring April 2024		14,208,487	502		(6,305)	0.00^†
United Kingdom Contracts
ICE Low Sulphur Gasoil Futures QS December 2023 contracts, expiring December 2023		12,716,175	157		1,833,800	0.94
ICE Brent Crude Futures CO February 2024 contracts, expiring December 2023		12,983,070	157		961,670	0.49
Foreign Contracts
LME Lead Futures LL October 2023 contracts, expiring October 2023^*		14,101,951	256		(114,751)	(0.06)
LME Lead Futures LL November 2023 contracts, expiring November 2023^*		14,020,890	258		(37,290)	(0.02)
LME Zinc Futures LX January 2024 contracts, expiring January 2024^*		13,768,481	225		1,160,269	0.60
Open Commodity Futures Contracts - Short^**
Foreign Contracts
LME Lead Futures LL October 2023 contracts, expiring October 2023^*		(14,008,070)	256		20,870	0.01
LME Zinc Futures LX January 2024 contracts, expiring January 2024^*		(14,457,175)	225		(471,575)	(0.24)
Total Open Futures Contracts^*	$	193,323,215	4,625	$	1,818,757	0.93


	Shares/Principal				% of Partners’
	Amount		Market Value		Capital
Cash Equivalents
United States Treasury Obligations
U.S. Treasury Bills:
5.29%, 10/12/2023	$	8,000,000	$	7,987,216	4.09
5.32%, 10/26/2023		8,000,000		7,970,778	4.08
5.38%, 11/28/2023		7,000,000		6,940,341	3.56
5.37%, 11/30/2023		7,000,000		6,938,050	3.56
5.37%, 12/12/2023		7,000,000		6,926,150	3.55
5.39%, 12/19/2023		6,000,000		5,930,250	3.04
5.40%, 1/02/2024		7,000,000		6,904,015	3.54
5.43%, 1/23/2024		8,000,000		7,864,894	4.03
Total United States Treasury Obligations				57,461,694	29.45
United States Money Market Funds
Dreyfus Institutional Preferred Government Money Market Fund - Institutional Shares, 5.30%^#		65,800,000		65,800,000	33.73
Total United States Money Market Funds				65,800,000	33.73
Total Cash Equivalents			$	123,261,694	63.18


	Three months ended		Three months ended		Nine months ended		Nine months ended
	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
Income
Gain (loss) on trading of commodity futures contracts:
Realized gain (loss) on closed commodity futures contracts	$	8,417,220	$	(21,425,957)	$	7,777,971	$	65,042,600
Change in unrealized gain (loss) on open commodity futures contracts		6,751,378		714,826		(7,579,973)		(22,661,369)
Dividend income		1,048,398		1,240,337		4,403,562		1,780,665
Interest income^*		1,341,553		236,778		2,784,259		294,248
ETF transaction fees		1,750		5,250		9,450		13,300
Total Income (Loss)	$	17,560,299	$	(19,228,766)	$	7,395,269	$	44,469,444

Expenses
Management fees (Note 4)	$	367,141	$	597,385	$	1,192,848	$	1,892,714
Professional fees		88,513		203,800		268,799		402,120
Brokerage commissions		42,085		57,426		124,984		158,243
Directors’ fees and insurance		19,476		19,386		54,933		51,937
License fees		—		2,274		—		2,274
Registration fees		—		—		—		6,617
Total Expenses	$	517,215	$	880,271	$	1,641,564	$	2,513,905
Net Income (Loss)	$	17,043,084	$	(20,109,037)	$	5,753,705	$	41,955,539
Net Income (Loss) per share	$	5.48	$	(3.46)	$	2.89	$	8.02
Net Income (Loss) per weighted average share	$	5.43	$	(3.67)	$	1.60	$	7.22
Weighted average shares outstanding		3,140,761		5,484,239		3,586,813		5,811,905


	Shareholders^*
	Three months ended		Three months ended		Nine months ended		Nine months ended
	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
Balances at beginning of period	$	166,298,582	$	343,187,389	$	255,837,514	$	234,520,505
Addition of 300,000, 400,000, 450,000 and 1,950,000 shares, respectively		17,592,310		21,950,296		25,739,124		106,649,993
Redemption of (100,000), (1,450,000), (1,700,000) and (2,150,000) shares, respectively		(5,836,204)		(77,475,606)		(92,232,571)		(115,572,995)
Net income (loss)		17,043,084		(20,109,037)		5,753,705		41,955,539

Balances at end of period	$	195,097,772	$	267,553,042	$	195,097,772	$	267,553,042


	Shareholders*
	Three months ended		Three months ended		Nine months ended		Nine months ended
	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
Balances at beginning of period	$	130,837,434	$	161,449,996	$	169,536,375	$	228,783,408
Addition of 950,000, 600,000, 2,350,000 and 2,850,000 shares, respectively		22,560,353		12,269,254		57,653,950		75,923,544
Redemption of (700,000), (1,100,000), (3,800,000) and (4,550,000) shares, respectively		(16,243,314)		(22,912,757)		(92,688,603)		(112,525,981)
Net income (loss)		(810,688)		(13,142,541)		1,842,063		(54,517,019)

Balances at end of period	$	136,343,785	$	137,663,952	$	136,343,785	$	137,663,952


At September 30, 2023	Total		Level I		Level II		Level III
Short-Term Investments	$	123,261,694	$	123,261,694	$	—	$	—
Exchange-Traded Futures Contracts
United States Contracts		(1,534,236)		(1,534,236)		—		—
Foreign Contracts		3,352,993		3,352,993		—		—


At December 31, 2022	Total		Level I		Level II		Level III
Short-Term Investments	$	233,050,000	$	233,050,000	$	—	$	—
Exchange-Traded Futures Contracts
United States Contracts		6,744,521		6,744,521		—		—
Foreign Contracts		2,654,209		2,654,209		—		—


	Condensed
	Statements of
	Financial
	Condition	Fair Value at		Fair Value at
Derivatives not Accounted for as Hedging Instruments	Location	September 30, 2023		December 31, 2022
Futures - Commodity Contracts	Assets	$	1,818,757	$	9,398,730


	Nine months ended		Nine months ended
	September 30, 2023		September 30, 2022
Cash Flows from Operating Activities:
Net income (loss)	$	5,753,705	$	41,955,539
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Change in unrealized (gain) loss on open commodity futures contracts		7,579,973		22,661,369
(Increase) decrease in dividends receivable		534,674		(489,997)
(Increase) decrease in interest receivable		(242,580)		(35,667)
(Increase) decrease in investment securities sold		—		—
(Increase) decrease in prepaid other		—		(4,101)
(Increase) decrease in prepaid insurance^*		(24,957)		(18,045)
(Increase) decrease in prepaid registration fees		—		6,616
Increase (decrease) payable due to custody		—		—
Increase (decrease) in Management fees payable		(50,674)		26,736
Increase (decrease) in professional fees payable		(152,758)		45,859
Increase (decrease) in directors’ fees payable^*		(1,544)		1,449
Net cash provided by (used in) operating activities		13,395,839		64,149,758

Cash Flows from Financing Activities:
Addition of shares		25,739,124		106,649,993
Redemption of shares		(92,232,571)		(115,572,995)
Net cash provided by (used in) financing activities		(66,493,447)		(8,923,002)

Net Increase (Decrease) in Cash and Cash Equivalents		(53,097,608)		55,226,756

Total Cash, Cash Equivalents and Equity in Trading Accounts, beginning of period		246,057,371		230,015,638
Total Cash, Cash Equivalents and Equity in Trading Accounts, end of period	$	192,959,763	$	285,242,394

Components of Cash and Cash Equivalents, and Equity in Trading Account:
Cash and cash equivalents	$	184,875,528	$	246,541,571
Equity in Trading Accounts:
Cash and cash equivalents		8,084,235		38,700,823
Total Cash, Cash Equivalents and Equity in Trading Accounts	$	192,959,763	$	285,242,394


	Nine months ended		Nine months ended
	September 30, 2023		September 30, 2022
Cash Flows from Operating Activities:
Net income (loss)	$	1,842,063	$	(54,517,019)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Change in unrealized (gain) loss on open commodity futures contracts		7,242,067		25,432,878
(Increase) decrease in dividends receivable		410,093		(261,105)
(Increase) decrease in interest receivable		(240,203)		(13,277)
(Increase) decrease in investment securities sold		—		—
(Increase) decrease in prepaid professional fees		5,158		—
(Increase) decrease in prepaid other		—		(4,101)
(Increase) decrease in prepaid insurance^*		1,348		(20,370)
(Increase) decrease in prepaid registration fees		—		24,092
Increase (decrease) payable due to custody		—		—
Increase (decrease) in Management fees payable		(19,298)		(58,409)
Increase (decrease) in professional fees payable		(72,649)		(39,572)
Increase (decrease) in directors’ fees payable^*		(56)		130
Net cash provided by (used in) operating activities		9,168,523		(29,456,753)

Cash Flows from Financing Activities:
Addition of shares		57,653,950		75,923,544
Redemption of shares		(92,688,603)		(112,525,981)
Net cash provided by (used in) financing activities		(35,034,653)		(36,602,437)

Net Increase (Decrease) in Cash and Cash Equivalents		(25,866,130)		(66,059,190)

Total Cash, Cash Equivalents and Equity in Trading Accounts, beginning of period		165,213,916		221,835,541
Total Cash, Cash Equivalents and Equity in Trading Accounts, end of period	$	139,347,786	$	155,776,351

Components of Cash and Cash Equivalents, and Equity in Trading Account:
Cash and cash equivalents	$	126,764,738	$	128,866,367
Equity in Trading Accounts:
Cash and cash equivalents		12,583,048		26,909,984
Total Cash, Cash Equivalents and Equity in Trading Accounts	$	139,347,786	$	155,776,351


	Nine months ended		Nine months ended
	September 30, 2023		September 30, 2022
Cash Flows from Operating Activities:
Net income (loss)	$	7,595,768	$	(12,561,480)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Change in unrealized (gain) loss on open commodity futures contracts		14,822,040		48,094,247
(Increase) decrease in dividends receivable		944,767		(751,102)
(Increase) decrease in interest receivable		(482,783)		(48,944)
(Increase) decrease in prepaid professional fees		5,158		—
(Increase) decrease in prepaid other		—		(8,202)
(Increase) decrease in prepaid insurance^*		(23,609)		(38,415)
(Increase) decrease in prepaid registration fees		—		30,708
Increase (decrease) in Management fees payable		(69,972)		(31,673)
Increase (decrease) in professional fees payable		(225,407)		6,287
Increase (decrease) in directors’ fees payable^*		(1,600)		1,579
Net cash provided by (used in) operating activities		22,564,362		34,693,005

Cash Flows from Financing Activities:
Addition of shares		83,393,074		182,573,537
Redemption of shares		(184,921,174)		(228,098,976)
Net cash provided by (used in) financing activities		(101,528,100)		(45,525,439)

Net Increase (Decrease) in Cash and Cash Equivalents		(78,963,738)		(10,832,434)

Total Cash, Cash Equivalents and Equity in Trading Accounts, beginning of period		411,271,287		451,851,179
Total Cash, Cash Equivalents and Equity in Trading Accounts, end of period	$	332,307,549	$	441,018,745

Components of Cash and Cash Equivalents, and Equity in Trading Account:
Cash and cash equivalents	$	311,640,266	$	375,407,938
Equity in Trading Accounts:
Cash and cash equivalents		20,667,283		65,610,807
Total Cash, Cash Equivalents and Equity in Trading Accounts	$	332,307,549	$	441,018,745


SummerHaven Dynamic Commodity Index Total Return^SM (“SDCI”)(1)	6.32	%
S&P GSCI Commodity Index (GSCI^®) Total Return(2)	7.24	%
Bloomberg Commodity Index Total Return(2)	(3.44)	%
Deutsche Bank Liquid Commodity Index-Optimum Yield Total Return^TM(2)	1.88	%


SummerHaven Copper Index Total Return^SM(“SCI”)(1)	1.14	%
Bloomberg Copper Subindex Total Return(2)	0.37	%


Commodity	Designated Contract	Exchange	Units	Quote
Aluminum	High Grade Primary Aluminum	LME	25 metric tons	USD/metric ton
Cocoa	Cocoa	ICE-US	10 metric tons	USD/metric ton
Coffee	Coffee “C”	ICE-US	37,500 lbs	U.S. cents/pound
Copper	Copper	COMEX	25,000 lbs	U.S. cents/pound
Corn	Corn	CBOT	5,000 bushels	U.S. cents/bushel
Cotton	Cotton	ICE-US	50,000 lbs	U.S. cents/pound
Crude Oil (WTI)	Light, Sweet Crude Oil	NYMEX	1,000 barrels	USD/barrel
Crude Oil (Brent)	Crude Oil	ICE-UK	1,000 barrels	USD/barrel
Gas Oil	Gas Oil	ICE-UK	100 metric tons	USD/metric ton
Gold	Gold	COMEX	100 troy oz.	USD/troy oz.
Heating Oil	Heating Oil	NYMEX	42,000 gallons	U.S. cents/gallon
Lead	Lead	LME	25 metric tons	USD/metric ton
Lean Hogs	Lean Hogs	CME	40,000 lbs.	U.S. cents/pound
Live Cattle	Live Cattle	CME	40,000 lbs.	U.S. cents/pound
Feeder Cattle	Feeder Cattle	CME	50,000 lbs.	U.S. cents/pound
Natural Gas	Henry Hub Natural Gas	NYMEX	10,000 mmbtu	USD/mmbtu
Nickel	Primary Nickel	LME	6 metric tons	USD/metric ton
Platinum	Platinum	NYMEX	50 troy oz.	USD/troy oz.
Silver	Silver	COMEX	5,000 troy oz.	U.S. cents/troy oz.
Soybeans	Soybeans	CBOT	5,000 bushels	U.S. cents/bushel
Soybean Meal	Soybean Meal	CBOT	100 tons	USD/ton
Soybean Oil	Soybean Oil	CBOT	60,000 lbs.	U.S. cents/pound
Sugar	World Sugar No. 11	ICE-US	112,000 lbs.	U.S. cents/pound
Tin	Tin	LME	5 metric tons	USD/metric ton
Unleaded Gasoline	Reformulated Blendstock for Oxygen Blending	NYMEX	42,000 gallons	U.S. cents/gallon
Wheat	Wheat	CBOT	5,000 bushels	U.S. cents/bushel
Zinc	Special High Grade Zinc	LME	25 metric tons	USD/metric ton


Commodity	Commodity			Max.
Symbol	Name	Sector	Allowed Contracts	tenor
CO	Brent Crude	Petroleum	All 12 Calendar Months	9
CL	Crude Oil	Petroleum	All 12 Calendar Months	9
QS	Gas Oil	Petroleum	All 12 Calendar Months	4
HO	Heating Oil	Petroleum	All 12 Calendar Months	4
XB	RBOB	Petroleum	All 12 Calendar Months	4
BO	Soybean Oil	Grains	Jan, Mar, May, Jul, Aug, Sep, Oct, Dec	7
C	Corn	Grains	Mar, May, Jul, Sep, Dec	4
S	Soybeans	Grains	Jan, Mar, May, Jul, Aug, Nov	4
SM	Soymeal	Grains	Jan, Mar, May, Jul, Aug, Sep, Oct, Dec	3
W	Wheat (Soft Red Winter)	Grains	Mar, May, Jul, Sep, Dec	4
LA	Aluminum	Industrial Metals	All 12 Calendar months	4
HG	Copper	Industrial Metals	Mar, May, Jul, Sep, Dec	1
LL	Lead	Industrial Metals	All 12 Calendar Months	4
LN	Nickel	Industrial Metals	All 12 Calendar Months	4
LT	Tin	Industrial Metals	All 12 Calendar Months	1
LX	Zinc	Industrial Metals	All 12 Calendar Months	4
GC	Gold	Precious Metals	Feb, Apr, Jun, Aug, Oct, Dec	1
PL	Platinum	Precious Metals	Jan, Apr, Jul, Oct	1
SI	Silver	Precious Metals	Mar, May, Jul, Sep, Dec	1
NG	Natural Gas	Non-Primary Sector	All 12 Calendar Months	6
FC	Feeder Cattle	Non-Primary Sector	Jan, Mar, Apr, May, Aug, Sep, Oct, Nov	1
LH	Lean Hogs	Non-Primary Sector	Feb, Apr, Jun, Jul, Aug, Oct, Dec	1
LC	Live Cattle	Non-Primary Sector	Feb, Apr, Jun, Aug, Oct, Dec	3
CC	Cocoa	Non-Primary Sector	Mar, May, Jul, Sep, Dec	1
KC	Coffee	Non-Primary Sector	Mar, May, Jul, Sep, Dec	1
CT	Cotton	Non-Primary Sector	Mar, May, Jul, Dec	1
SB	Sugar	Non-Primary Sector	Mar, May, Jul, Oct	3


Year	Ending Level*	Annual Return
2013	1,678.73	(2.77)	%
2014	1,475.68	(12.10)	%
2015	1,265.58	(14.24)	%
2016	1,262.46	(0.25)	%
2017	1,364.38	8.07	%
2018	1,221.18	(10.50)	%
2019	1,219.05	(0.17)	%
2020	1,089.40	(10.64)	%
2021	1,468.49	34.80	%
2022	1,933.23	31.65	%
2023 (YTD)	2,055.42	6.32	%


	Hypothetical and Historical Results for the period
	from December 31, 1997 through September 30, 2023
			S&P GSCI		DB LCI OY		SDCI TR
	BCOM TR		TR		TR		Actual
Total return	53.59	%	22.55	%	342.51	%	813.44	%
Average annualized return (total)	3.32	%	4.58	%	8.45	%	11.15	%
Annualized volatility	16.06	%	23.13	%	18.86	%	15.43	%
Annualized Sharpe ratio	0.08		0.11		0.33		0.58


	Commodity		Max.
Commodity Name	Symbol	Allowed Contracts	Tenor
Copper	HG	All 12 calendar months	12


Copper Futures Contract	Expiration Date	Contract Price
Nearest-to-maturity	December-10	374.70
Next nearest-to-maturity	March-11	365.20


Eligible Copper Futures Contracts		Price
December-10		374.70


	Hypothetical and Historical Results for the period
	from December 31, 1997 through September 30, 2023
	BCOM		Spot Copper		SCI TR
	HG TR		(less storage)		Actual
Total return	422.14	%	129.76	%	690.55	%
Average annualized return (total)	11.88	%	8.21	%	13.99	%
Annualized volatility	25.44	%	24.58	%	24.95	%
Annualized Sharpe ratio	0.38		0.25		0.47


	Total
	Number of
	Shares	Average Price Per
Period	Redeemed	Share
7/1/23 to 7/31/23	50,000	$	58.70
8/1/23 to 8/31/23	50,000	$	58.02
9/1/23 to 9/30/23	—	$	—
Total	100,000

Exhibit Number		Description of Document
31.1(1)		Certification by Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2(1)		Certification by Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1(1)		Certification by Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2(1)		Certification by Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS		XBRL Instance Document.
101.SCH		XBRL Taxonomy Extension Schema.
101.CAL		XBRL Taxonomy Extension Calculation Linkbase.
101.DEF		XBRL Taxonomy Extension Definition Linkbase.
101.LAB		XBRL Taxonomy Extension Label Linkbase.
101.PRE		XBRL Taxonomy Extension Presentation Linkbase.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

By:	/s/ John P. Love
	John P. Love
	President and Chief Executive Officer
	(Principal executive officer)

By:	/s/ Stuart P. Crumbaugh
	Stuart P. Crumbaugh
	Chief Financial Officer
	(Principal financial and accounting officer)


Date: November 7, 2023	By	/s/ John P. Love
	Name:	John P. Love
	Title:	President and Chief Executive Officer
		United States Commodity Funds LLC
		Sponsor of United States Commodity Index Funds Trust