United States 12 Month Oil Fund USL
NYSE USL
$54.61 +1.13 (+2.11%)
As of: Sep 8, 2026 · 3:44 PM EDT

United States 12 Month Oil Fund (USL) Operating Expenses (2010 - 2026)

United States 12 Month Oil Fund's (USL) quarterly Operating Expenses came in at $133919.0 in Q2 2026, up 36.27% on a YoY basis from $98273.0 in Q2 2025, and up 23.07% quarter-over-quarter from $108816.0 in Q1 2026.

Analysis

United States 12 Month Oil Fund (USL) Operating Expenses (2010 - 2026) Analysis & Trends

United States 12 Month Oil Fund (USL) has reported Operating Expenses for 17 consecutive years, with $133919.0 the latest figure, recorded in Q2 2026.

  • For the quarter ending Q2 2026, Operating Expenses rose 36.27% year-over-year to $133919.0; the trailing twelve-month figure through Jun 2026 stood at $459871.0 (down 15.28% YoY), and the FY2025 full-year result was $431394.0, down 30.33% from the prior year.
  • Operating Expenses grew to $133919.0 in Q2 2026 per USL's latest filing, from $108816.0 in the prior quarter.
  • Across five years, Operating Expenses topped out at $332996.0 in Q1 2022 and bottomed at $93987.0 in Q4 2025.
  • Historically, Operating Expenses has averaged $165304.7 across 5 years, with a median of $146643.0 in 2023.
  • The sharpest annual moves came in 2023 and 2026: Operating Expenses tumbled 56.07% in 2023, then jumped 36.27% in 2026.
  • Over 5 years, Operating Expenses stood at $179847.0 in 2022, then decreased by 10.01% to $161836.0 in 2023, then declined by 7.92% to $149023.0 in 2024, then plunged by 36.93% to $93987.0 in 2025, then jumped by 42.49% to $133919.0 in 2026.
  • According to Business Quant data, Operating Expenses over the past three periods registered $133919.0, $108816.0, and $93987.0 for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 BlackRock 169.89 Bn 156.02 Bn - 4.62 Bn
2 Spdr Gold Trust 144.81 Bn -413.20 Bn - 149.76 Mn
3 Ishares Gold Trust 30.30 Bn -29.81 Bn - 43.37 Mn
4 World Gold Trust 29.28 Bn -73.79 Bn - 7.55 Mn
5 Principal Financial 24.84 Bn -28.13 Bn 1.91 Bn 3.41 Bn
6 iShares Silver Trust 22.15 Bn -6.05 Bn - 44.44 Mn
7 Franklin Resources 17.84 Bn 14.12 Bn - 2.14 Bn
8 Invesco 14.63 Bn 13.72 Bn 1.79 Bn 1.46 Bn
9 Affiliated Managers 9.51 Bn 9.10 Bn - 486.70 Mn
10 United States 12 Month Oil Fund 58.33 Mn 23.57 Mn - 133,919.00
Historic Data

Historic Data

Download Data
DateValue
Jun 30, 2026 133,919.00
Mar 31, 2026 108,816.00
Dec 31, 2025 93,987.00
Sep 30, 2025 123,149.00
Jun 30, 2025 98,273.00
Mar 31, 2025 115,985.00
Dec 31, 2024 149,023.00
Sep 30, 2024 179,523.00
Jun 30, 2024 143,692.00
Mar 31, 2024 146,993.00
Dec 31, 2023 161,836.00
Sep 30, 2023 156,706.00
Jun 30, 2023 143,018.00
Mar 31, 2023 146,293.00
Dec 31, 2022 179,847.00
Sep 30, 2022 239,296.00
Jun 30, 2022 322,132.00
Mar 31, 2022 332,996.00
Dec 31, 2021 329,071.00
Sep 30, 2021 369,558.00