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USCF ETF Trust
fund voting report
- Vote records reported
- 1,213year to 30 June 2026
- Against management
- 11.7%138 of 1,180 marked votes
- Say-on-pay support
- 77.6%for, of for + against + abstain
- Shareholder-proposal support
- 80.0%for, of for + against + abstain
foragainstabstain, withhold or otheramber tick: the portion cast against management
For the year to 30 June 2026, USCF ETF Trust reported 1,213 vote records on Form N-PX. 138 of the 1,180 votes that were marked for or against management went against management: 11.7%, 5.5 percentage points above the median fund registrant (6.2%).
Weighted by the number of shares voted, the against-management share is 1.0%. The two figures differ when the votes against management fall on larger or smaller holdings than the rest.
On pay and on shareholder proposals: it voted for 77.6% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 80.0% of the proposals put forward by security holders (the median fund registrant: 27.5%).
By category, votes against management were most frequent in CORPORATE GOVERNANCE (43.5% of 193), SHAREHOLDER RIGHTS AND DEFENSES (40.0% of 20) and COMPENSATION (37.1% of 70).
Compared with other filers
Each rate is defined once, in the methodology. The median is taken over 1,241 fund registrants with at least 25 vote records in the season.
| year to 30 June 2026 | This filer | Median fund registrant | All filers pooled |
|---|---|---|---|
| Against-management share | 11.7% | 6.2% | 10.6% |
| Say-on-pay support rate | 77.6% | 91.6% | 86.0% |
| Shareholder-proposal support rate | 80.0% | 27.5% | 33.9% |
| Shares on loan, share of shares held | 0.00% | 0.00% | 3.12% |
| Largest families, year to 30 June 2026 | Against management | Say-on-pay support | Shareholder-proposal support |
|---|---|---|---|
| Vanguard | 20.1% | 94.1% | 42.0% |
| BlackRock and iShares | 7.5% | 88.3% | 11.9% |
| Fidelity | 6.0% | 94.7% | 27.6% |
| Dimensional | 16.4% | 78.9% | 57.4% |
| State Street and SPDR | 16.9% | 77.1% | 50.4% |
Of the 1,213 vote records in this filing, 767 carry something the form does not expect: a missing vote source or category, a record with no vote line, a meeting date that cannot be read, or a security identifier this site could not use. They are counted as filed. What is checked
Votes by category
Filers choose one or more categories for each vote, so a vote can appear in more than one row. Category names are printed as Form N-PX defines them.
| Category (as the form names it) | Votes | For | Against | Against management | Split |
|---|---|---|---|---|---|
| DIRECTOR ELECTIONS | 683 | 519 | 126 | 0.8% | |
| SECTION 14A SAY-ON-PAY VOTES | 58 | 45 | 13 | 0.0% | |
| AUDIT-RELATED | 74 | 72 | 2 | 1.4% | |
| SHAREHOLDER RIGHTS AND DEFENSES | 21 | 19 | 1 | 40.0% | |
| EXTRAORDINARY TRANSACTIONS | 5 | 4 | 1 | 20.0% | |
| CAPITAL STRUCTURE | 107 | 102 | 5 | 4.7% | |
| COMPENSATION | 70 | 41 | 29 | 37.1% | |
| CORPORATE GOVERNANCE | 195 | 118 | 76 | 43.5% | |
| ENVIRONMENT OR CLIMATE | 5 | 3 | 2 | 100.0% | |
| DIVERSITY, EQUITY, AND INCLUSION | 4 | 1 | 3 | 100.0% | |
| OTHER SOCIAL ISSUES | 5 | 5 | 0 | 80.0% | |
| OTHER | 14 | 4 | 10 | 0.0% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support | Split |
|---|---|---|---|---|---|
| year to 30 June 2024 | 2,042 | 23.3% | 81.0% | 83.7% | |
| year to 30 June 2025 | 1,823 | 21.0% | 80.0% | 78.2% | |
| year to 30 June 2026 | 1,213 | 11.7% | 77.6% | 80.0% |
Say-on-pay votes against management
Counting one say-on-pay item per company meeting, USCF ETF Trust voted against management on 0 of the 56 it marked either way (0.0%) in the year to 30 June 2026.
Shareholder proposals it supported
No separable proposals from security holders were reported for this season.
Shares on loan
USCF ETF Trust reported no shares on loan for the year to 30 June 2026. Shares lent out at the record date cannot be voted by the lender, which is why Form N-PX asks for the figure. More on lending and votes.
Fund series in this filing
4 series reported votes. A vote record can list several series. Series with 500 or more vote records have their own page.
| Series | Vote records | Against management | Say-on-pay support | Shareholder-proposal support |
|---|---|---|---|---|
| USCF Dividend Income Fund | 598 | 4.5% | 72.1% | not reported |
| USCF Sustainable Commodity Strategy Fund | 225 | 33.2% | not reported | not reported |
| USCF Sustainable Battery Metals Strategy Fund | 221 | 20.4% | not reported | not reported |
| USCF Midstream Energy Income Fund | 169 | 0.6% | 93.3% | not reported |
The filings
These figures are read from the filer's own Form N-PX. If a vote on this page looks wrong, the filing is the record: a dispute about a filed vote is a matter for the filer, and an error in how this site read the filing is a matter for corrections.
- N-PX filed 7 Aug 2026 accession 0002071876-26-000185
- N-PX filed 7 Aug 2026 accession 0002071876-26-000186
- Every N-PX filing by this filer on EDGAR
Questions
How did USCF ETF Trust vote on executive pay?
In the year to 30 June 2026 USCF ETF Trust reported 58 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 45 were for (77.6%), 13 against and 0 abstentions. Counting one item per company meeting, it voted against management on 0 of the 56 say-on-pay items it marked either way.
How often does USCF ETF Trust vote against management?
11.7% of the time in the year to 30 June 2026: 138 of the 1,180 votes it marked as for or against management. Form N-PX asks each filer to state, vote by vote, whether the vote was for or against management's recommendation; this figure counts those marks.
Did USCF ETF Trust support shareholder proposals on climate?
It reported no votes on security-holder proposals in the category ENVIRONMENT OR CLIMATE for the year to 30 June 2026. Across every category it voted for 80.0% of security-holder proposals.
Is this the result of the meetings?
No. Form N-PX shows how this filer voted the shares it held. It does not show how other shareholders voted or whether a proposal was approved. Companies report certified results separately, on Form 8-K.
Where does the data come from?
From the Form N-PX filings of this filer on the SEC's EDGAR system, read as filed. The SEC does not verify the contents. Amended filings (N-PX/A) replace the filings they amend. Data on this page runs through 23 Sep 2026.
Provenance: SEC EDGAR, Form N-PX and N-PX/A filings by USCF ETF Trust (filer no. 1597389), read as filed and not verified by the SEC. Amended filings replace the filings they amend. Filings read through 23 Sep 2026; page built 26 Sep 2026.