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CONTRACTS AND AGREEMENTS (Details) | 3 Months Ended
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Mar. 31, 2021 USD ($) $ / item
Marketing Agreement |
Long-Duration Contracts, Assumptions by Product and Guarantee |
Marketing fee exclusive of the incentive fee | $ 425,000
Marketing Agreement | USOF's assets from $0- $500 million |
Long-Duration Contracts, Assumptions by Product and Guarantee |
Fee percentage | 0.00%
Marketing Agreement | USOF's assets from $0- $500 million | Minimum |
Long-Duration Contracts, Assumptions by Product and Guarantee |
Base amount for determining fee percentage | $ 0
Marketing Agreement | USOF's assets from $0- $500 million | Maximum |
Long-Duration Contracts, Assumptions by Product and Guarantee |
Base amount for determining fee percentage | $ 500,000,000
Marketing Agreement | USOF's assets from $500 million - $4 billion |
Long-Duration Contracts, Assumptions by Product and Guarantee |
Fee percentage | 0.04%
Marketing Agreement | USOF's assets from $500 million - $4 billion | Minimum |
Long-Duration Contracts, Assumptions by Product and Guarantee |
Base amount for determining fee percentage | $ 500,000,000
Marketing Agreement | USOF's assets from $500 million - $4 billion | Maximum |
Long-Duration Contracts, Assumptions by Product and Guarantee |
Base amount for determining fee percentage | $ 4,000,000,000
Marketing Agreement | USOF's assets in excess of $4 billion |
Long-Duration Contracts, Assumptions by Product and Guarantee |
Fee percentage | 0.03%
Ratio of expense to Average Net Assets | 10.00%
Marketing Agreement | USOF's assets in excess of $4 billion | Minimum |
Long-Duration Contracts, Assumptions by Product and Guarantee |
Base amount for determining fee percentage | $ 4,000,000,000
Brokerage and Futures Commission Merchant Agreements | Minimum |
Long-Duration Contracts, Assumptions by Product and Guarantee |
Commissions per round-turn trade, including applicable exchange and NFA fees for Oil Futures Contracts and options on Oil Futures Contracts | $ / item | 7
Brokerage and Futures Commission Merchant Agreements | Maximum |
Long-Duration Contracts, Assumptions by Product and Guarantee |
Commissions per round-turn trade, including applicable exchange and NFA fees for Oil Futures Contracts and options on Oil Futures Contracts | $ / item | 8

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- Definition Expenditures for planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. Costs of public relations and corporate promotions are typically considered to be marketing costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.4) -URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 + Details
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