Even with an average pillar rating, USCF has had impressive longevity among its product shelf. The firm's risk-adjusted success ratio is 100%, meaning that 100% of its strategies have both survived and beaten their respective category median on a risk-adjusted basis. A high success ratio indicates good performance and provides insight into a firm’s discipline around investment strategy and product development. USCF has had higher portfolio management turnover than peer firms in the past five years. Turnover in the portfolio-management ranks can happen for a number of reasons, including fund mergers and liquidations, portfolio managers moving into other roles, or portfolio managers leaving the firm. In some cases, such change may not signal a serious or immediate problem at the firm, but can still be disruptive for fundholders, hinder the effectiveness of a firm’s investment processes, or suggest a weaker investment culture. A cause for concern at USCF are its relatively inexperienced longest-tenured managers. In particular, average tenure across portfolio managers is only two years, which contributes negatively to its rating.
USCF has some investor-friendly attributes, but other attributes warrant caution, leading to an Average Parent Pillar rating.
United States