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CONTRACTS AND AGREEMENTS (Tables) | 9 Months Ended
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Sep. 30, 2020
CONTRACTS AND AGREEMENTS |
Schedule of brokerage commissions | USL also incurs commissions to brokers for the purchase and sale of Oil Futures Contracts, Other Oil-Related Investments or short-term obligations of the United States of two years or less (“Treasuries”). ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Nine months |  | Nine months | ​
​ | ​ | ended | ​ | ended | ​
​ | ​ | September 30, 2020 | ​ | September 30, 2019 | ​
Total commissions accrued to brokers | ​ | $ | 89,983 | ​ | $ | 5,484 | ​
Total commissions as annualized percentage of average total net assets | ​ |  | 0.07 | % |  | 0.01 | %
Commissions accrued as a result of rebalancing | ​ | $ | 26,140 | ​ | $ | 5,021 | ​
Percentage of commissions accrued as a result of rebalancing | ​ |  | 29.05 | % |  | 91.56 | %
Commissions accrued as a result of creation and redemption activity | ​ | $ | 63,843 | ​ | $ | 463 | ​
Percentage of commissions accrued as a result of creation and redemption activity | ​ |  | 70.95 | % |  | 8.44 | %

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- Definition Tabular disclosure of fees earned by the broker commission. + References No definition available. + Details
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