UMI - Despite Decent 2023 Returns UMI Continues To Lag Passive ETFs

2024-02-13 15:26:23 ET

Summary

• The USCF Midstream Energy Income Fund ETF is a concentrated sector fund focused on energy midstream companies with low portfolio turnover.
• The USCF Midstream Energy Income Fund ETF has delivered decent performance, returning 14.6% in 2023.
• However, despite strong short-term returns, the UMI ETF has continued to underperform passive ETFs in the midstream energy space and has lower distribution yields.
• I continue to recommend investors avoid this fund.

Every few months, I like to go over my older articles, to see if my original thesis on the funds and stocks in question are still valid. For example, back in April, I initiated on the USCF Midstream Energy Income Fund ETF ( UMI ) with a cautious article, as my analysis indicated the UMI fund had underperformed a passive ETF focused on the energy midstream industry....

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