The United States 12-Month Oil Fund (Ticker: USL) seeks investment results that correspond generally to the performance, before fees and expenses of the light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the changes in the average of the prices of 12 Futures Contracts on crude oil traded on the New York Mercantile Exchange. When calculating the daily movement of the average price of the 12 contracts each contract month will be equally weighted. The portfolio consists of listed crude oil futures contracts and other oil related futures, 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.